ACCT 224 DeVry Complete Week Discussions Package
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Complete</strong> <strong>Week</strong><br />
<strong>Discussions</strong> <strong>Package</strong><br />
Downloading is very simple, you can download this Course here:<br />
http://wiseamerican.us/product/acct-<strong>224</strong>-devry-complete-week-discussions-package/<br />
Or<br />
Contact us at:<br />
SUPPORT@WISEAMERICAN.US<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Complete</strong> <strong>Week</strong> <strong>Discussions</strong> <strong>Package</strong><br />
<strong>ACCT</strong><strong>224</strong><br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Complete</strong> <strong>Week</strong> <strong>Discussions</strong> <strong>Package</strong><br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 1 Discussion 1<br />
Various Types of Taxes (graded)<br />
The current tax structure in America is often likened to an interconnected maze. We as taxpayers pay a multitude of<br />
taxes to various levels of government and taxing authorities. Using your personal experience as a basis, describe the<br />
various types of taxes that you personally pay or that the business you own or work for pays.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 1 Discussion 2<br />
Tax Policies (graded)<br />
What accounts for the complexity of the American tax system? As you ponder this question, consider the policies and<br />
concepts that influence the development of our tax laws and the resulting tax system.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 2 Discussion 1<br />
Determining Taxable Income (graded)<br />
Although filing and paying taxes is a complex and time-consuming task, the basic formula for determining your total<br />
taxable amount can be summarized in a simple four-step process. Briefly describe this four-step process, and then<br />
select one of the four steps and describe, in detail, the elements that make it up.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 2 Discussion 2<br />
AMT (graded)<br />
What is the alternative minimum tax, and why is it so controversial? Select one of the four steps and describe, in detail,<br />
the elements that make it up. This section lists options that can be used to view responses.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 3 Discussion 1
Compensation Arrangements (graded)<br />
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)
The taxation of individuals is based on the concept of the timing of when one receives cash and when one spends cash<br />
to incur expenses. The business taxation system must account for the principles of accrual accounting and GAAP.<br />
What impact do these concepts have on the calculation of taxable income? This section lists options that can be used<br />
to view responses.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 7 Discussion 1<br />
Basis (graded)<br />
The purchase and sale of business assets create unique tax issues. The concept of basis becomes very important.<br />
Define the term basis, and compare and contrast the terms cost basis, tax basis, and leverage cost basis.<br />
<strong>ACCT</strong> <strong>224</strong> <strong>DeVry</strong> <strong>Week</strong> 7 Discussion 2<br />
Like-Kind Exchange (graded)<br />
The tax code allows various types of non-taxable exchanges of business property. What is the theoretical basis for<br />
non-taxable exchanges, specifically like-kind exchanges?