Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 1 Day Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 12 Aug 2017 My Price 11.00

passthrough entity

 

Discussion Problems

  1. Can a sole proprietorship be described as a passthrough entity?
  2. This year, Firm Q, a cash basis taxpayer, remitted $26,800 of FICA payroll tax to the federal government. However, the firm deducted only $13,400 FICA tax on its income tax return. Can you explain this apparent inconsistency?
  3. Why is only one half of a sole proprietor's self-employment tax generally deductible in the computation of taxable income?
  4. Mrs. G, Mr. Y, and Mrs. N want to become co-owners of a business enterprise. Compare the extent of their personal liability for the debts incurred by the enterprise if they organize as:

a) A general partnership

b) A limited partnership

c) An LLC

d) An S corporation

  1. Why are certain items of income, gain, deduction, or loss separately stated on a partnership or an S corporation tax return?
  2. Four years ago, Mr. JB purchased 1,000 shares of UPF Inc., for $10,000. These shares represent a 30 percent equity interest in UPF, which is an S corporation. This year, UPF defaulted on a $120,000 debt to a major creditor.

a) To what extent can the creditor demand repayment of the debt from Mr. JB?

b) Would your answer change if UPF is a partnership in which Mr. JB is a 30 percent general partner?

c) Would your answer change if UPF is a partnership in which Mr. JB is a 30 percent limited partner?

d) Would your answer change if UPF is an LLC in which Mr. JB is a 30 percent member?

Answers

Maurice Tutor
(5)
Status NEW Posted 12 Aug 2017 02:08 PM My Price 11.00

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