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2. ACC 455 Students Guide / tutorialrank.com • ACC 455 Week 1 Individual assignment Tax Return Position Paper (UOP Course) • ACC 455 Week 1 DQ 1 (UOP Course) • ACC 455 Week 1 DQ 2 (UOP Course) • Do the following decisions have the same precedential value: (1) Tax Court regular decisions, (2) Tax Court memo decisions (3) decisions under the small cases procedure of the Tax Court? Why? Which of the following sources do you ACC 455 Entire Course (UOP Course) ACC 455 Week 1 DQ 1 (UOP Course)

3. ACC 455 Students Guide / tutorialrank.com • What constitutes substantial authority for a position taken on a tax return? What options do you have if substantial authority is lacking? • What business entities are available for a new business? What are the tax and nontax advantages of each form? Select two business types and provide an example of when that selection is most appropriate from a tax perspective and from a nontax perspective ACC 455 Week 1 DQ 2 (UOP Course) ACC 455 Week 1 DQ 3 (UOP Course)

4. ACC 455 Students Guide / tutorialrank.com • What are the requirements for the following deductions: U.S. production activity deduction, dividend received deduction, and net operating loss? Discuss any recent legislative changes. • What is the legislative intent behind the corporate alternative minimum tax (AMT)? Define tax preference items, AMT adjustment, and minimum tax credit. ACC 455 Week 2 DQ 3 (UOP Course) ACC 455 Week 2 DQ 4 (UOP Course)

5. ACC 455 Students Guide / tutorialrank.com • What are the requirements for the following deductions: U.S. production activity deduction, dividend received deduction, and net operating loss? Discuss any recent legislative changes. • Complete the problems found in Ch. 2 of Prentice Hall’s Federal Taxation 2010: Corporations. ACC 455 Week 2 DQ 3 (UOP Course) ACC 455 Week 2 Individual Assignment Problem Set (UOP Course)

6. ACC 455 Students Guide / tutorialrank.com • Please Provide a brief outline of how the team will be setting up the team problem in week 3. Please indicate who will be responsible for each section and a timeline to complete • How does a corporation compute earnings and profits (E&P)? ACC 455 Week 2 Team Assignment Outline for Week 3 (UOP Course) ACC 455 Week 3 DQ 1 (UOP Course)

7. ACC 455 Students Guide / tutorialrank.com • Distinguish between current and accumulated earnings and profits. Why is it important to make this distinction? • What is a stock redemption? What are some reasons for redeeming stock? Why are some redemptions treated as sales and others as dividends? ACC 455 Week 3 DQ 2 (UOP Course) ACC 455 Week 3 DQ 3 (UOP Course)

8. ACC 455 Students Guide / tutorialrank.com • Complete the problems found in Ch. 3 & 5 of Prentice Hall’s Federal Taxation 2010: Corporations with your Learning Team. • Sue and Bill plan to open an accounting firm and expect to work full time in the firm. They expect to incur a small loss during their first year of operation and expect to be profitable after the first year. What are the tax law requirements for ACC 455 Week 3 Team Assignment Problem Set (UOP Course) ACC 455 Week 4 DQ 1 (UOP Course)

9. ACC 455 Students Guide / tutorialrank.com • Bob and Dave plan to start a business. Bob will contribute land and Dave will contribute services. Would you recommend this business be formed as a partnership or as an S corporation? Why? • What are separately stated items on a K-1? Why is it necessary to separate these items from ordinary income ACC 455 Week 4 DQ 2 (UOP Course) ACC 455 Week 4 DQ 3 (UOP Course)

10. ACC 455 Students Guide / tutorialrank.com • What is an inadvertent termination of an S election? How does an S corporation and its shareholders rectify an inadvertent termination? What could happen if a company fails to rectify the termination? • A C corporation has incurred substantial losses and the owners have decided to close the business. What considerations should the owners make in this termination? Should they consider making an S election and then later, terminating the S ACC 455 Week 5 DQ 2 (UOP Course) ACC 455 Week 5 DQ 4 (UOP Course)

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