Grand Canyon Acc 613 All Weeks Discussiosn-Latest 2015

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Grand Canyon ACC 613 All Weeks Discussiosn-Latest 2015

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Questionweek 1

How might you apply the tax knowledge that you will acquire in this course? What business or personal situations might require tax knowledge?

What factors increase the benefits of accelerating deductions or deferring income? Under what circumstances can these accelerations or deferrals be used. Provide examples of each in your discussion.

week 2

Compare and contrast realization of income for income tax purposes with recognition of income for financial accounting purposes.

Gambling losses are miscellaneous deductions not subject to the AGI floor. Explain why this is the case. Is there a social purpose to not limiting gambling loss deductions? Discuss the fact that gambling losses are not limited to the AGI floor but unreimbursed employee business expenses are. Include references to any tax code or publications that you use for your answer.

week 3

What is the purpose of the alternative minimum tax? Discuss the pros and cons of such a tax and whether you think it accomplishes the purpose for which it was designed. Include references to any tax code or publications that you use for your answer.

There are several business expenses not allowed as deductions for tax purposes as a matter of public policy. Discuss several of these expenses and the implications for companies or individuals doing business in countries with different laws and/or cultural norms regarding business transactions. Include references to any tax code or publications that you use for your answer.

week 4

Explain why the tax laws required the cost of certain assets to be...