Exam 28: Special Tax Computation Methods,tax Credits,and Payment of Tax

Explore all topics

A taxpayer acquired an office building to be used in her business this year.For AMT purposes,depreciation must be re-calculated using the straight-line method over 40 years.

(True/False)

4.8/5

(36)

Question 121

The child and dependent care credit provides relief for working taxpayers who pay for care for younger children or an incapacitated dependent or spouse.

(True/False)

4.9/5

(40)

Question 122

Self-employment taxes include components for

(Multiple Choice)

4.9/5

(32)

Question 123

Which one of the following is a refundable credit?

(Multiple Choice)

4.8/5

(34)

Question 124

Hong earns $127,300 in her job as a physician's assistant.She also has her own business selling cosmetics.This business generated $10,000 of earnings.What is Hong's self-employment tax for 2015?

(Multiple Choice)

4.9/5

(35)

Question 125

The adoption credit based on qualified adoption expenses is generally allowed in the year the adoption is finalized.

(True/False)

4.7/5

(44)

Question 126

For purposes of the child and dependent care credit,qualifying employment-related expenses cannot include payments to a relative.

(True/False)

4.9/5

(33)

Question 127

A taxpayer acquired new equipment to be used in her business this year.For AMT purposes,depreciation must be recalculated using the straight-line method over the same recovery period used for regular tax purposes.

(True/False)

4.9/5

(46)

Question 128

The qualified retirement savings contributions credit is based on a maximum contribution of $2,000.

(True/False)

4.8/5

(36)

Question 129

A wage cap does not exist for which of the following self-employment taxes?

(Multiple Choice)

4.8/5

(41)

Question 130

Showing 121 - 130 of 130

A taxpayer acquired an office building to be used in her business this year.For AMT purposes,depreciation must be re-calculated using the straight-line method over 40 years.

The child and dependent care credit provides relief for working taxpayers who pay for care for younger children or an incapacitated dependent or spouse.

Self-employment taxes include components for

Which one of the following is a refundable credit?

Hong earns $127,300 in her job as a physician's assistant.She also has her own business selling cosmetics.This business generated $10,000 of earnings.What is Hong's self-employment tax for 2015?

The adoption credit based on qualified adoption expenses is generally allowed in the year the adoption is finalized.

For purposes of the child and dependent care credit,qualifying employment-related expenses cannot include payments to a relative.

A taxpayer acquired new equipment to be used in her business this year.For AMT purposes,depreciation must be recalculated using the straight-line method over the same recovery period used for regular tax purposes.

The qualified retirement savings contributions credit is based on a maximum contribution of $2,000.

A wage cap does not exist for which of the following self-employment taxes?

Tax Research

an Introduction to Taxation

Corporate Formations and Capital Structure

Determination of Tax

The Corporate Income Tax

Gross Income: Inclusions

Corporate Nonliquidating Distributions

Gross Income: Exclusions

Other Corporate Tax Levies

Property Transactions: Capital Gains and Losses

Corporate Liquidating Distributions

Deductions and Losses

Corporate Acquisitions and Reorganizations

Itemized Deductions

Consolidated Tax Returns

Losses and Bad Debts

Partnership Formation and Operation

Employee Expenses and Deferred Compensation

Special Partnership Issues

Depreciation,cost Recovery,amortization,and Depletion

Corporations

Accounting Periods and Methods

The Gift Tax

Property Transactions: Nontaxable Exchanges

The Estate Tax

Property Transactions: Section 1231 and Recapture

Income Taxation of Trusts and Estates

Administrative Procedures

Filters