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Discussion
"Consolidated Net Operating Losses and Consolidated Tax Returns" Based on the lecture, address the following:
• Imagine that a client is pursuing the acquisition of Corporation A that has a substantial net operating loss. Corporation B is a member of the controlled group and is currently included in the consolidated tax return that also has a net operating loss. Analyze the potential advantages and disadvantages of Corporation B's acquisition of Corporation A and Corporation A's subsequent inclusion in Corporation B's consolidated tax return. Suggest the key tax issues the client should consider in determining the deductibility of the net operating losses.
• Imagine that corporations P, S, and C are members of a parent-subsidiary controlled group filing a consolidated tax return. Corporations A and B are members of a brother-sister controlled group that cannot file a consolidated tax return. Design a strategy geared toward creating an affiliated group which makes Corporations A, B, P, S, and C all eligible to file a consolidated tax return.
Rock and Roll was the force behind such music icons as Rhiannon and Ulster and has had a very profitable year. The following information was taken from the LLC's income statement for the current year (2013):
Evaluate the tax consequences that result from sales or distributions of property for their compliance with IRS Circular 230, Internal Revenue Code, and the American Institute for Certified Public Accountants and for advising the client.
Compareand contrast traditional and Roth and SEP IRAs and discuss various advantagesand disadvantages as well as distribution methods and limitations.
Discuss whether or not the three payments are income from personal exertion. Would your answer differ if she wrote the story for her own satisfaction and only decided to sell it later?
Analyze the effect of an irrevocable trust on the gift tax and future estate taxes. Suggest other significant alternatives that the client could use both to reduce estate tax.
(1) Determine Andrew and Carol's taxable income.
Compute the Meyers federal income tax (including any AMT) on their joint return - Blake and Valerie Meyer (both age 30) are married with one dependent child
Explain why the payment to the taxpayer inFCT v Dixon(1952) 86 CLR 540 was assessable income but the payment inScott v FCT(1966) 117 CLR 514 was not.
denver companys human resources department gives training and other services to the companys three operating
What are some of the various retirement plans and the fringe benefits that are involved in each of these plans and explain the process and steps required in an S Corporation
Analyse the ATM servicing costs for withdrawals and deposits and recommend an allocation of these servicing costs to transaction costs for XpressCash and XpressTeller ATMs for each transaction type.
Determine the income tax savings in the current year for the business and for them personally if they form the business as a partnership, S corporation, or C corporation.
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