Acct 307

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CHAPTER 1

AN INTRODUCTION TO TAXATION
AND UNDERSTANDING THE FEDERAL TAX LAW

SOLUTIONS TO PROBLEM MATERIALS

| | | | |Status: | Q/P | |Question/ |Learning | | |Present |in Prior | |Problem |Objective |Topic | |Edition |Edition | | | | | | | | | | | | 1 |LO 1 |Tax effect on a change in circumstances | |New | | | 2 |LO 1 |Interplay of different types of taxes | |Unchanged |1 | | 3 |LO 2 |Constitutionality of Federal income tax | |Modified |2 | | 4 |LO 2 |Income tax as a “mass tax” | |Unchanged |3 | | 5 |LO 2 |Pay-as-you-go system | |Unchanged |4 | | 6 |LO 3 |Adam Smith and canon of convenience | |New | | | 7 |LO 3 |Proportional and progressive rates contrasted | |Unchanged |7 | | 8 |LO 4 |Ad valorem tax on realty: conversion from tax-exempt to | |Unchanged |8 | | | |residential status | | | | | 9 |LO 4 |Conversion of tax-exempt realty to commercial status and effect on | |Unchanged |9 | | | |ad valorem property tax | | | | | 10 |LO 4 |Ad valorem tax on realty: effect of conversion to tax-exempt use | |New | | | 11 |LO 4 |Ad valorem tax on realty: effect of valuation reassessment | |Unchanged |11 | | 12 |LO 4 |Ad valorem tax: assessment in terms of revenue production | |Unchanged |12 | | 13 |LO 4 |Excise taxes: both Federal and state | |Unchanged |13 | | 14 |LO 4 |Excise taxes: hotel occupancy and car rental | |Unchanged |14 | | 15 |LO 4 |Excise and general sales taxes compared | |Unchanged |15 | | 16 |LO 4 |Avoiding sales tax through use of out-of-state purchase | |Unchanged |16 | | 17 |LO 4 |Avoiding local sales taxes | |Unchanged |17 | | 18 |LO 4 |Avoiding sales tax through Internet purchase | |Unchanged |18 | | 19 |LO 4 |Estate and inheritance taxes contrasted | |Unchanged |19 | | 20 |LO 4 |Federal gift tax: availability of the marital deduction for...
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