This class was created by Brainscape user Susanna Pinto. Visit their profile to learn more about the creator.
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Susanna Pinto
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Decks in this class (16)
Income Tax Law Fundamentals
What is the federal income tax la...,
How is the irc organized,
What qualifications are required ...
48
cards
Gross Income
How is income defined in economics,
How is income measured in accounting,
What are the conditions for incom...
58
cards
Income Tax Calculations
Tax equivalent yield,
Lt capital gains rate,
How much can be deducted per year...
62
cards
Tax Characteristics of Entities
Pros and cons of sole proprietorship,
Tax treatment,
Independent contractor
109
cards
Basis
Original basis,
Ellen paid 12 000 and borrowed 48...,
Adjusted basis
31
cards
Cost Recovery Concepts
Depreciation,
Depreciation methods,
Types of property
38
cards
Tax Consequences on Sale of Assets
Capital assets,
Corn products refining co v cir,
Arkansas best corp v cir 1988
58
cards
Like-Kind Exchanges and Involuntary Conversions
Section 1036 and section 1031 dif...,
Non simultaneous exchange,
Constructive receipt
28
cards
Income Taxation of Trusts and Estates
Requirements for grantor retained...,
Tax implications for grantor reta...,
Implications on cp states
23
cards
Passive Activity
Amount at risk,
Definition of passive activity,
Appropriate economic unit factors...
27
cards
Charitable Contributions and Deductions
Qualified entities,
Public charities,
Private charities
38
cards
Tax Implications of Changing Circumstances
Requirements for premarital or pr...,
Mfj requirements,
Disadvantages of mfs
38
cards
Tax Accounting Methods
Partnership tax year,
S corporations and personal servi...,
Required payments and fiscal years
40
cards
Tax Compliance
Reporting income,
How are returns selected for audit,
How are audits handled
21
cards
Alternative Minimum Tax
How to determine amt liability,
Tax preference items,
Amt adjustments
14
cards
Tax Management Techniques
Define different types of non ref...,
Classify the different credits as...,
Personal credits
49
cards
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Tax
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