ACCT 224 DeVry Complete Week Discussions Package
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Consider the issue of compensation from the viewpoint of a business and the viewpoint of the individual. What are the<br />
risks and rewards to each of treating a worker as an independent contractor or an employee?<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 3 Discussion 2<br />
Passive Activities (graded)<br />
Income and deductions derived from investments, business ventures, rental property, and so forth are of a unique<br />
character. With this concept in mind, briefly describe the concept of passive activities and the corresponding tax<br />
consequences of investments in such activities. What are the political underpinnings of the current tax treatment? This<br />
section lists options that can be used to view responses.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 4 Discussion 1<br />
Death Tax (graded)<br />
It has become politically popular in recent years to criticize the estate tax (or, as it has become more commonly known,<br />
the death tax). Discuss the original policy basis for the estate tax, and discuss some of the planning techniques used<br />
to minimize the impact of the tax on wealth transfers. This section lists options that can be used to view responses.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 4 Discussion 2<br />
Home Ownership (graded)<br />
Home ownership is the bedrock of the American Dream. What are the primary tax benefits of home ownership? What<br />
are the policy reasons for favorable treatment of home ownership? Are these principles still valid today?<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 5 Discussion 1<br />
IRS Audits (graded)<br />
The American federal tax system is enforced by a complex and elaborate government agency known as the IRS. Briefly<br />
discuss the types of audits that are conducted by the IRS. Please feel free to relate any personal or professional<br />
experiences you have had with the IRS audit process. This section lists options that can be used to view responses.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 5 Discussion 2<br />
Innocent Spouse Rule (graded)<br />
A hot topic when discussing the IRS and the audit process is the innocent spouse rule. Define this rule, and provide an<br />
example of when it comes into play.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 6 Discussion 1<br />
Accounting Methods for Business (graded)<br />
The taxation of businesses requires us to think in a different conceptual framework. In general, how does the selection<br />
of a firm’s tax year and accounting methods potentially impact the measurement of taxable income? Please use an<br />
example to explain your discussion.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 6 Discussion 2<br />
Cash Versus Accrual (graded)
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