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Tanner Rasmussen
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Decks in this class (46)
Tax Penalties
Late filing or failure to file pe...,
What is the fraudulent penalty,
Late payment penalty
7
cards
Sources of Tax Authority and Research
Three main sources of authority,
What are administrative sources,
What are proposed temporary and f...
8
cards
Tax Practice and Procedures
The audit process,
Three people who can represent so...,
What is the revenue agent report
17
cards
Compliance Responsibilities
Estimated payments individuals,
What are the estimated payment dates,
Payment requirements for individu...
5
cards
Common Law Duties and Liabilities to Clients and Third Parties
Breach of contract elements to th...,
What is the damages that the clie...,
Defenses for breach of contract
11
cards
Privileged Communications, Confidentiality, and Privacy Notes
Deinfe privileged communications ...,
Define tax practitioners privilege
2
cards
Business Law- Contracts
Contracts what are the sources of...,
T f ucc is codified among all states,
What are the three types of contr...
53
cards
Business Law- Agency
What is an agency relationship,
What are examples of agents,
What is agency coupled with interest
20
cards
Business Law- Suretyship
What is a surety,
What is the difference between a ...,
What are the rights of the credit...
9
cards
Business Law- Security Interests
What are the requirements for a s...,
How do you perfect your security ...,
Where are filings of perfected in...
20
cards
Business Law- Bankruptcy
What are artisan or worker lien,
What is the priority of statutory...,
What are mechanics liens
25
cards
TAX- Sale and Disposition of Assets
Do most of the principles between...,
What are the classification of as...,
Define ordinary assets and examples
17
cards
TAX- Capital Gains and Losses
What art the most common type of ...,
Can capital losses be defined as ...,
What is the netting process for c...
16
cards
TAX: Section 1231 Assets
What are section 1231 assets,
If you sell multiple 1231 assets ...,
If section 1231 assets are damage...
10
cards
Section 1231- Cost Recovery
Be very familiar with this lesson,
What are the general rule for per...,
What are the asset classes for pe...
18
cards
Like-Kind Exchanges
If you meet the requirements of a...,
Define boot,
Is debt relief considered boot
11
cards
TAX- Other Nonrecognition Transactions
What is a wash sale how does that...,
In a washed sale what is the basi...,
What is the holding period for th...
9
cards
TAX- Gross Income
Define gross income,
T f income is not limited to cash...,
What is the constructive receipt ...
11
cards
TAX- GROSS INCOME- OTHER INCLUSIONS
Divorces finalized after 2018 how...,
Divorces finalized before 2019 ho...,
How is child support taxed
14
cards
Gross Income- Exclusions
Prizes or awards are included wha...,
Scholarships need to be used for ...,
What are the rules for excluding ...
6
cards
TAX: Taxation of Income from Business Entities
What are the rules for a dividend...,
What is the holding period to qua...,
For a corporation how do you dete...
13
cards
Accounting Methods and Periods- Individuals
If a cash basis taxpayer has a r ...,
Accrued basis exceptions unearned...,
If a taxpayer has service income ...
21
cards
TAX- Taxation of Employee Benefits
Reimbursement for business expens...,
Employee benefits are generally e...,
What are the limits on group term...
20
cards
TAX- Retirement Plans
What is a qualified retirement plan,
What is considered an early withd...,
What is the most common type of r...
13
cards
TAX- Deductions
What are the two broad categories...,
What are three categories for ded...,
Expenses related to ones personal...
11
cards
TAX: Deductions for AGI
How much can interest on educatio...,
When is alimony deductible,
How much of self employment incom...
6
cards
TAX: Itemized Deductions- Medical, Taxes, and Interest
Medical expenses are deductible f...,
What types of items are deductible,
What are not deductible for medic...
13
cards
TAX: Itemized Deductions- Other
T f in order for a charitable con...,
What of agi can be deducted for c...,
What of agi can be deducted for p...
10
cards
TAX: Business Expenses
If an employee does not get reimb...,
If a employee gets reimbursement ...,
What is an accountable plan what ...
15
cards
TAX: Deductions- Losses and Bad Debts
Who can deduct bad debt,
For tax purposes is the allowance...,
Where is a business bad debt dedu...
12
cards
Limitations on Business Deductions
Loss from hobbies are they deduct...,
How do you determine if there is ...,
What are the limits on expenses f...
15
cards
TAX: Dependents
As of 2018 there are no deduction...,
What is the criteria for a qualif...,
What are the rules for qualifying...
4
cards
Filing Status
When is marital status determined...,
If one spouse dies during the yea...,
When can you file a surviving spouse
11
cards
TAX: Alternative Minimum Tax and Other Taxes
The taxpayer must pay the greater...,
Most people are not going to have...,
What is the amt tax formula
11
cards
TAX: Personal Tax Credits
What is the difference between de...,
What is a refundable credit,
What is the most common refundabl...
19
cards
TAX: Federal Gift Tax
This has nothing to do with incom...,
The estate and gift tax are apart...,
Why is the gift tax levied on the...
10
cards
TAX: Federal Estate Tax
What is the formula to calculate ...,
Who can value the gross estate,
What is the alternative valuation...
8
cards
TAX: Formation of a Corporation
What is the transaction to form a...,
No gain or loss on the formation ...,
If stock is exchanged for service...
10
cards
Corporate Income
T f the general income and deduct...,
What is the tax rate for corporat...,
T f the amt does not apply for co...
12
cards
TAX: Accounting periods and methods- Corporations
What is the tax year the corporat...,
If a corporation wants to justify...,
What entities cannot use the cash...
3
cards
TAX: Special Corporate Deductions
What is the corporate tax formula,
Are charitable contributions the ...,
What is the purpose of the drd
13
cards
TAX: Penalty Taxes
What is the accumulated earnings tax,
What is the personal holding comp...,
How do you calculate the accumula...
3
cards
TAX: Related Corporations
Affiliated group good controlled ...,
What are examples of controlled g...,
What is a parent sub controlled g...
6
cards
TAX: Distributions from a Corporation
How does a shareholder receive mo...,
What are the steps to contribute ...,
How do you determine the amount o...
9
cards
Corporate Redemptions and Liquidations
What is a redemption of stock wha...,
How does the family attribution r...,
What is a partial liquidation
6
cards
Corporate Reorganizations
What are the two forms of a corpo...,
What are a a and c reorg,
What is a b reorg
11
cards
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