ACC 547 Week 1 Individual Assignment Personal Budget, Balance Sheet, and Cash Flow Statement
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Choose a client or yourself. For confidentiality purposes, use a fictitious name.
Prepare a personal budget, balance sheet, and cash flow statement.
Write a memo that includes the following:
• A summary of the facts, including ages of the client, spouse, and dependents; educational background; income status of client and spouse; and two major concerns and goals.
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ACC 547 Week 2 - Problem Set # I5-67, I5-61
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As a political consultant for an aspiring politician, you have been hired to evaluate thefollowing statements that pertain to capital gains and losses. Evaluate the statement andprovide at least a one-paragraph explanation of each statement. As you prepare youranswer, consider the fact that the aspiring politician does not have much knowledgeabout taxation.
• a.The tax on capital gains is considered a voluntary tax.
• b.On October 22, 1986, the Tax Reform Act of 1986 was passed, which eliminated the60% of net capital gain deduction (i.e., an individual taxpayer with $10,000 of netcapital gain was entitled to a $6,000 deduction when computing AGI) before January1, 1987. Many state governments enjoyed a substantial increase in 1986 tax revenue.
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ACC 547 Week 2 Individual Assignment Week Two Problem Set 72 , 49 (Ch 2), 40 (Ch 3) 41 (Ch 4)
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Complete the following problems located in Taxation of Individuals and Business Entities:
• Problem 72 (Ch. 2)
• Problem 49 (Ch. 3)
Comprehensive Problems 40 & 41 (Ch. 4)...