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Polly and her husband, Leo, file a joint return and expect to report 2012 AGI of $75,000. Polly’s employer offers a child and dependent care reimbursement plan that allows up to $7,000 of qualifying expenses to be reimbursed in exchange for a $7,000 reduction in the...

Ahmed Zinna (16 Southside Drive, Charlotte, NC 28204), one of your clients, owns two retail establishments in downtown Charlotte and has come to you seeking advice concerning the tax consequences of complying with the Americans with Disabilities  Act. He...

Which of the following individuals qualify for the earned income credit? a. Thomas is single, 21 years old, with no qualifying children. His income consists of $9,000 in wages. b. Shannon, who is 27 years old, maintains a household for a dependent 11 year old son and...

Beth R. Jordan lives at 2322 Sky view Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11–1111111). She also writes computer software programs for tax practitioners and...

Ashby and Curtis, a young professional couple, have a two year old son, Jason. Curtis works full time as an electrical engineer, but Ashby has not worked outside the home since Jason was born. As Jason is getting older, Ashby thinks that Jason would benefit from...

Your ophthalmologist, Dr. Hunter Francis (55 Wheatland Drive, Hampton, CT 06247), has been very pleased with the growth of his practice in the 15 years he has been in business. This growth has resulted, at least in part, because he has aggressively marketed his...

During a recent Sunday afternoon excursion, Miriam, an admirer of early twentieth century architecture, discovers a 1920s era house in the countryside outside Mobile, Alabama. She wants not only to purchase and renovate this house, but also to move the structure into...

Ross would like to dispose of some land he acquired five years ago because he believes that it will not continue to appreciate. Its value has increased by $50,000 over the five year period. He also intends to sell stock that has declined in value by $50,000 during the...

Bob is notified by the city public housing authority on May 3, 2012, that his apartment building is going to be condemned as part of an urban renewal project. On June 1, 2012, Carol offers to buy the building from Bob. Bob sells the building to Carol on June 30, 2012....