Tried many websites which can help me to score good in my exams but nothing have worked and at last found this website http://www.snaptutorial.com tired this website and scored good in the exams it has many courses which can help you all to score well in the exams.ACC 455 Week 1 tax Position Paper (2 Paper)ACC 455 Week 1 Tax Position PaperWrite a 700- to 1,050-word paper that includes the following:u00a7What are the primary sources of tax law?u00a7What are the secondary sources of tax law?u00a7What is substantial authority?u00a7Describe the role of the courts and the Internal Revenue Service in interpreting and applying the sources of tax lawFormat your paper consistent with APA guidelines.Click the Assignment Files tab to submit your assignment as a Microsoftu00ae Word document.ACC 455 Week 3 Team AssignmentPhoenix Medical Worksheet, Part 1ACC 455 Week 3 Team Assignment, Part 1Phoenix Medical WorksheetWeek 3 Determine Adjusted Book Income:You are provided with the unadjusted trial balance (Microsoftu00ae Excel) and your manageru2019s meeting notes and questions (Microsoftu00ae Word) for your new tax client u2024 Phoenix Medical.Following the notes, modify the unadjusted trial balance to generate a trial balance workpaper (in Microsoftu00ae Excel) that includes:Adjusting Journal EntriesAdjusted Book IncomeTax Journal EntriesTaxable IncomeAnswers to your manageru2019s questions (Microsoftu00ae Word or Excel).The client depends on you, the CPA, to provide journal entries for activity in fixed assets. While discussing fixed assets, the client divulges that he got a great deal to upgrade his laser dermatology equipment. Ultimately, you find out that $569,888 of new equipment was purchased and placed in service on 6/18/2014.Furthermore, and much after the fact, you discover that old medical equipment was sold to an unrelated party for $75,000 cash. The original cost of the equipment was $300,000 and it was fully depreciated (no Sec. 179). The cash was deposited in one of the shareholders personal accounts.Provide a journal entry to calculate the gain on sale and adjust the fixed asset and accumulated depreciation accounts.What is the nature of this gain?Could the Dr. have structured this sale in a different way to avoid taxable income? How?The client depends on his accountant to provide a journal entry for the annual depreciation expense. They have adopted a policy of treating book depreciation equal to tax depreciation. Depreciation expense for the year will include:Depreciation on assets placed in service prior to 2024 is: $86,769Maximize Sec. 179 expense on assets placed in service in 2014.Take Sec. 168(k) u2024 50% Bonus u2024 on new equipment if applicable.Week 3 Determine Taxable Income:Determine taxable income. Show all adjustments in the Microsoftu00ae Excel spreadsheet. Footnote references are provided to assist you.The Dr. has filed his prior tax returns on the cash basis.What questions will you ask to be sure he can continue to file on the cash basis?You find that in 2024. the Dr. qualifies, and choose to file on the cash basis. His books are kept on the accrual basis. Determine the adjustments needed.No federal taxes were paid in 2024. and no estimated taxes were paid in 2014.Within the state tax expense, you find $4,389 is late payment penalties.While analyzing the financial information, you find that hidden in u201cAccounts Payableu201d is $28,953 of accrued salaries. You also find that the salaries were paid in the first week of February.Does this have an impact on taxable income?Determine the accrual to cash adjustments for accounts receivable and accounts payable.A charitable contribution carryforward of $40,000 is available.Included in insurance expense is $12,523 of officersu2024 life insurance. You determine the company is the beneficiary, and each officer is a greater than 20% shareholder.ACC 455 Week 3 Chapter 11 Issue Identification QuestionsAccess p. 11-41 in Chapter 11 of your textbook Prentice Hallu2019s Federal Taxation 2024 Corporations, Partnerships, Estates& Trusts.Write a minimum 175-word response to each question C:11-24 through C:11-27.Click the Assignment Files tab to submit your assignment as a Microsoftu00ae Word document.ACC 455 Week 4 Team Phoenix Medical Part 2 (Form 1120)Utilizing the spreadsheet and worksheet generated in Week 3, prepare pages 1 through 5 of Form 1120 u2024 US Corporation Income Tax Return:u00a7Utilize PDF fill-in form.u00a7See additional information attached.Click the Assignment Files tab to submit your assignment as a Microsoftu00ae Word document.ACC 455 Week 4 Chapter 6 Issue Identification QuestionsACC 455 Week 4 Chapter 6 Issue Identification QuestionsAccess p. 6-23 in Chapter 6 of your textbook Prentice Hallu2019s Federal Taxation 2024 Corporations, Partnerships, Estates& Trusts.Write a minimum 175-word response to each question, C:6-29 though C:6-31.Click the Assignment Files tab to submit your assignment as a Microsoftu00ae Word document.C:6-29: What tax issues should Cable, John, and Peter consider with respect to the liquidation?C:6-30: What tax issues should Parent and Subsidiary consider with respect to the bankruptcy and liquidation of Subsidiary?C:6-31: What tax issues should Harry and Rita consider with respect to this pending liquidation?ACC 455 Week 5 Team Assignment Part 3 (Form 1065)Utilizing the included resources, complete tax Form 1065.Click the Assignment Files tab to submit your assignment as a Microsoftu00ae Word documentACC 455 Week 5 Chapter 5 Discussion QuestionsAccess p. 5-38 in Chapter 5 of your textbook Prentice Hallu2019s Federal Taxation 2024 Corporations, Partnerships, Estates& Trusts.Write answers to questions C:5-1 through C:5-10.Click the Assignment Files tab to submit your assignment as a Microsoftu00ae Word document.C:5-1 Explain Congressu2024 intent for enacting the AMT.C:5-2 Define the following terms relating to the AMT:C:5-3 Dunn Corporation is not a small corporation exempt from the AMT. Dunnu2019s CPA does not calculate the AMT because he knows that Dunnu2019s taxable income is less than the $40,000 AMT exemption amount allowed to corporations. Is the CPA correct in his belief? Explain.C:5-4 What special rules (if any) apply to the AMT calculation for the following entities:C:5-5 Agnew Corporation operates a small manufacturing business. During Year 1 (its first tax year, which is 12 months long), Agnew sells goods for $3.8 million for which the cost of goods sold is $2.8 million. Agnewu2019s owner estimates that future sales and cost of goods sold will grow by 25% each year. Agnew is not related to any other corporations. Is Agnew exempt from the AMT in Year 1? In any of the next five years? Explain.C:5-6 Menifee Corporation has conducted business for several years, and its annual gross receipts never have been more than $4 million. Jackie, who has owned all of Menifeeu2019s stock since she incorporated it, purchases all of Estill Corporationu2019s stock in the current year. Estillu2019s annual gross receipts have been approximately $6 million in recent years.C:5-6 Menifee Corporation has conducted business for several years, and its annual gross receipts never have been more than $4 million. Jackie, who has owned all of Menifeeu2019s stock since she incorporated it, purchases all of Estill Corporationu2019s stock in the current year. Estillu2019s annual gross receipts have been approximately $6 million in recent years. Explain to Jackie how her acquisition of Estillu2019s stock will affect the AMT that Menifee pays.C:5-7 Determine whether the following statements relating to the AMT for a corporation are true or false. If false, explain why.C:5-8 Identify each of the following as a tax preference item (PREF), an AMT adjustment item to calculate preadjustment AMTI (ADJ), an item to adjust from preadjustment AMTI to ACE (ACE), or none of these (NONE):C:5-9 What adjustment does a corporation make if ACE is more than preadjustment AMTI? If ACE is less than preadjustment AMTI?C:5-10 Florida Corporation incurs AMT for the first time in the current year. The main reason for incurring the AMT is a $2 million gain on a current year installment sale that Florida is recognizing over ten years for regular tax purposes. Explain to Floridau2019s president how the installment sale can cause Florida to incur the AMT, how its treatment for ACE is similar to and different from the E&P treatment with which she is familiar, and whether its ACE treatment will partially or completely reverse in future years.ACC 455 Entire CourseACC 455 Week 1 Individual assignment Tax Return Position PaperACC 455 Week 1 DQ 1ACC 455 Week 1 DQ 2ACC 455 Week 1 DQ 3ACC 455 Week 2 Individual Assignment Problem SetACC 455 Week 2 Team Assignment Outline for Week 3ACC 455 Week 2 DQ 1ACC 455 Week 2 DQ 2ACC 455 Week 2 DQ 3ACC 455 Week 2 DQ 4ACC 455 Week 3 Team Assignment Problem SetACC 455 Week 3 DQ 1ACC 455 Week 3 DQ 2ACC 455 Week 3 DQ 3ACC 455 Week 4 Team Assignment Outline for Week 5ACC 455 Week 4 Individual Assignment Problem SetACC 455 Week 4 DQ 1ACC 455 Week 4 DQ 2ACC 455 Week 4 DQ 3ACC 455 Week 4 DQ 4ACC 455 Week 5 Team Assignment Problem SetACC 455 Week 5 DQ 1ACC 455 Week 5 DQ 2ACC 455 Week 5 DQ 3ACC 455 Week 5 DQ 4
