02 Jan d. A decision was rendered

Embry MBAA667 Module 1.4 Discussion

1.4 Discussion: Tax Research

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Discussion Keyboard Key

Class discussions are an integral part of your learning in this course and the selected topics or questions will help sharpen your critical thinking and written communication skills as you study Federal Taxation. The graded discussions focus on tax research.

Twenty (20) percent of your course grade will come from your responses to these discussions based on your tax research submitted on time and as directed in the appropriate discussion forum. A portion of the grade will come from responses to your peers.

Tax Research

Go to the U.S. Tax Court website www.ustaxcourt.gov (Links to an external site.) and spend some time exploring the website.

What type of information can be found on the site?

Find a recent summary opinion or a memorandum decision.

Briefly, describe the principal issue in the case and explain the Tax Court’s decision.

Discuss the most significant points of the case.

Attach the PDF file of the summary opinion or the memorandum decision.

It is highly recommended that you submit your initial post by midweek. Posting in a timely manner offers your classmates sufficient opportunity to respond to you in this discussion.

For full credit, respond to at least two of your classmates in the forum by the posted due date. Review the grading rubric for detailed grading requirements.

Note: Discussion rubrics may be accessed by selecting the gear icon gear.jpg above and choosing “show rubric” from the drop-down menu.

Embry MBAA667 Module 2.3 Discussion

2.3 Discussion: Gross Income

4343 unread replies.6464 replies.

Various Federal stimulus provisions were designed to assist state and local governments in borrowing funds, leveraging the gross income exclusion for such bond interest so that such jurisdictions would have increased access to funds. One of the justifications for these provisions was that state and local governments cannot run budget deficits and cannot “print money,” so the recent recession put them in a difficult cash-flow position.

Audits of the use of these borrowed funds showed that some of the bond proceeds were used by the jurisdictions to participate in “public-private partnerships,” where government funds were used to assist private entities in expanding in or relocating to the jurisdiction. Specifically, bond proceeds were found to have been used to provide targeted road-building and utility construction projects to benefit large commercial entities.

1. Is this an appropriate use of the gross income exclusion for state and local bond interest? Why or Why not?

2. Read the posts of your classmates and reply to at least two of your peers.

3. Review the rubric which will be used to evaluate each discussion board posting for this course.

It is highly recommended that you submit your initial post by midweek. Posting in a timely manner offers your classmates sufficient opportunity to respond to you in this discussion.

For full credit, respond to at least two of your classmates in the forum by the posted due date. Review the grading rubric for detailed grading requirements.

Embry MBAA667 Module 3.3 Discussion

3.3 Discussion: Deductions and Losses

5454 unread replies.6767 replies.

Earlier this year, Troy and Ann Hatten, two successful airline pilots made a cash investment for a limited partnership interest in a Florida orange grove farm. In addition to the cash obtained from investors, the grove’s management borrowed a significant amount of money to purchase the assets required to operate the farm. The Hatten’s investment adviser pointed out that their tax loss for the first year would be more than their initial cash investment. The next several years would bring more losses. The Hatten’s feel confident about their investment in the orange grove.

1. Identify and discuss in detail the tax issues facing the Hattens.

2. Read the posts of your classmates and reply to at least two of your peers.

3. Review the rubric which will be used to evaluate each discussion board posting for this course.

It is highly recommended that you submit your initial post by midweek. Posting in a timely manner offers your classmates sufficient opportunity to respond to you in this discussion.

For full credit, respond to at least two of your classmates in the forum by the posted due date.

Embry MBAA667 Module 4.3 Discussion

4.3 Discussion: Property Transactions

5858 unread replies.6969 replies.

John started collecting model airplanes when he was just a young boy. His collection consists of over 500 model airplanes, most of which were received as birthday gifts. He is retiring this year and needs to downsize, therefore, he has decided to sell his collection. He lists the model airplanes on an Internet auction site and receives an offer of $50,000 for the model airplane collection. John sells the entire collection, except for the 3 newest airplanes purchased in the last year. The remaining airplanes had all been owned by John for over a year.

1. Discuss the tax factors John needs to consider in deciding how to report the sale.

2. Read the posts of your classmates and reply to at least two of your peers.

3. Review the rubric which will be used to evaluate each discussion board posting for this course.

It is highly recommended that you submit your initial post by midweek. Posting in a timely manner offers your classmates sufficient opportunity to respond to you in this discussion.

For full credit, respond to at least two of your classmates in the forum by the posted due date. Review the grading rubric for detailed grading requirements.

Embry MBAA667 Module 5.3 Discussion

5.3 Discussion: Individual Taxation

4646 unread replies.7272 replies.

Mark and Amy Hatten, live in Pensacola, FL and have recently been experiencing problems with their marriage. They have a 4-year-old daughter, Victoria who stays with Mark’s parents during the day, while both parents work. Amy worked to support Mark while he attended flight school, and now she has been accepted to flight school in Melbourne, FL. Amy has decided to divorce Mark. She will move to Melbourne, FL and attend flight school. Victoria will stay in Pensacola, FL because she is very attached to her grandparents and needs the excellent child care they provide. Amy knows that Mark will expect her to contribute costs associated with raising Victoria. Amy also feels she needs to receive cash for her share of the property accumulated during the marriage, in order to finance flight school. She also feels she should receive some reimbursement for her support of Mark while he was in flight school. Divorce proceedings are expected to take several months.

1. Identify the relevant tax issues for Amy.

2. Read the posts of your classmates and reply to at least two of your peers.

3. Review the rubric which will be used to evaluate each discussion board posting for this course.

It is highly recommended that you submit your initial post by midweek. Posting in a timely manner offers your classmates sufficient opportunity to respond to you in this discussion.

For full credit, respond to at least two of your classmates in the forum by the posted due date. Review the grading rubric for detailed grading requirements.

Embry MBAA667 Module 6.3 Discussion

6.3 Discussion: Corporate Taxation

4949 unread replies.5959 replies.

Vivian and her daughter Ivy have been working together in a spa called “Viva Bien”. Vivian formed the business in 2001 as a sole proprietorship. The business has become very successful over the years and Vivian’s tax accountant is recommending that she incorporate the business. Business assets have a fair market value of $550,000 and a basis of $280,000. Vivian would like to give shares of stock to Ivy, because of her participation in the business.

1. What are the relevant tax issues?

2. Read the posts of your classmates and reply to at least two of your peers.

3. Review the rubric which will be used to evaluate each discussion board posting for this course.

It is highly recommended that you submit your initial post by midweek. Posting in a timely manner offers your classmates sufficient opportunity to respond to you in this discussion.

For full credit, respond to at least two of your classmates in the forum by the posted due date. Review the grading rubric for detailed grading requirements.

Embry MBAA667 Module 7.3 Discussion

7.3 Discussion: Corporate Distributions and S Corporations

4040 unread replies.6262 replies.

Shannon Lundy is a 50% shareholder in Wing & Ground, Inc, an S corporation. This year her share of Wing & Ground’s operating loss is $195,000. Shannon has income from several other sources.

1. Identify and discuss the tax issues related to the effects of the S corporation loss on Shannon’s tax report?

2. Read the posts of your classmates and reply to at least two of your peers.

3. Review the rubric which will be used to evaluate each discussion board posting for this course.

It is highly recommended that you submit your initial post by midweek. Posting in a timely manner offers your classmates sufficient opportunity to respond to you in this discussion.

For full credit, respond to at least two of your classmates in the forum by the posted due date. Review the grading rubric for detailed grading requirements

Embry MBAA667 Module 8.3 Discussion

8.3 Discussion: Partnership Taxation

3838 unread replies.6060 replies.The Vivori, LLC distributes the following assets to its member, Victoria:

$20,000 cash
Inventory valued at $20,000 and a $10,000 basis to the entity
Land with a $30,000 value and a $35,000 basis to the entity
1. What issues must be considered in determining the Federal income tax treatment of the distribution?

2. Read the posts of your classmates on their chosen summary opinion or memorandum decision and reply to at least two of your peers.

3. Review the rubric which will be used to evaluate each discussion board posting for this course.

It is highly recommended that you submit your initial post by midweek. Posting in a timely manner offers your classmates sufficient opportunity to respond to you in this discussion.

For full credit, respond to at least two of your classmates in the forum by the posted due date. Review the grading rubric for detailed grading requirements

Embry MBAA667 Module 9.3 Discussion

9.2 Discussion: Court Decisions

2222 unread replies.6868 replies.

1. In considering the validity of a prior court decision, assess the significance of the following independent scenarios and post your conclusions:

a. A decision was rendered by the U.S. District Court of Wyoming, the state in which the taxpayer lives.

b. A decision was rendered by the Court of Federal Claims. The taxpayer lives in Wyoming.

c. A decision was rendered by the Second Circuit Court of Appeals. The taxpayer lives in California.

d. A decision was rendered by the Supreme Court.

e. A decision was rendered by the Tax Court. The IRS has acquiesced in the results.

f. A decision was rendered by the Tax Court. The IRS has non-acquiesced in the result

2. Read the posts of your classmates and reply to at least two of your peers.

3. Review the rubric which will be used to evaluate each discussion board posting for this course.

It is highly recommended that you submit your initial post by midweek. Posting in a timely manner offers your classmates sufficient opportunity to respond to you in this discussion.

For full credit, respond to at least two of your classmates in the forum by the posted due date. Review the grading rubric for detailed grading requirements.