1) Amos, a single individual with a salary of $50,000, incurred and paid the following expenses during the year: Medical expenses: $5,000 Alimony:…

1) Amos, a single individual with a salary of $50,000, incurred and paid the following expenses during the year:Medical expenses: $5,000Alimony: $14,000Casualty loss (after $100 floor): $1,000State income taxes: $4,000Moving expenses: $1,500Contribution to a traditional IRA: $2,000Student loan interest: $1,200Analyze the above expenses and determine which ones are deductible for AGI. Please support your position.2) Sara owns a sole proprietorship and Phil is the sole shareholder of a C (regular) corporation. Each business sustained a $9,000 operating loss and a $2,000 capital loss for the year. Evaluate how these losses will affect the taxable income of the two owners?3)John forms a corporation and transfers property having a basis to him of $18,000 and a fair market value of $26,000 to the corporation for 1,000 shares of $10 par stock. One year later, Hal transfers property having a basis to him of $2,500 and a fair market value of $3,500 for 100 shares of the stock. Hal is not related to John. The corporation issued no other stock.a. How much gain does John recognize on his exchange? What is the basis to John of his 1,000 shares?b. What gain or loss is recognized by the corporation when it issues its shares to John? What is the basis to the corporation of the property it received from John?c. How much gain does Hal recognize on his exchange? What is the basis to Hal of his 100 shares?4) XYZ Company had a net loss of $90,000 from operations in 2007. Tina owns XYZ and works 20 hours a week in the business. She has a large amount of income from other sources and is in the 33% marginal tax bracket. Would Tina’s tax situation be better if XYZ were a proprietorship or a C-corporation? Explain why.5)Leon sold a piece of business equipment that had an adjusted basis to him of $70,000 for $87,000 cash plus artwork that had a fair market value of $23,000. The buyer assumed Leon’s $28,000 loan on the equipment. Leon paid $6,000 in selling expenses.a. What is Leon’s recognized gain?b. Identify and describe the general formula for calculating the adjusted basis of property.6) Carl had the following transactions for 2006:Salary: $55,000Damage award (compensatory) for city bus accident: $20,000Loss on sale of stock investment: $4,500Loan from father to purchase auto: $10,000Alimony paid to ex-wife: $11,000What is Carl’s AGI for 2006?

Give us your instructions.
Select the type of service you need: writing, calculations, or programming. We’ve created an intuitive order form that tells you what information to enter and where, so make sure to fill out each required field. Also, make your requirements as specific as possible. Don’t rush! Take your time and explain everything in detail how it works.

Proceed to checkout and enter your credit card details or PayPal login, how to pay. Follow the payment provider’s instructions to confirm the transaction.
Now your order is in our system! We’ll start processing it right away.

Place Your Order

Contact Us

Frequently asked questions
Is your service confidential?

When you place an order with our company, we ask you to provide us with such personal information as your name, phone number, and email address. We need this data to keep you updated on the important things related to your order or account.

Is there a possibility of plagiarism in my completed order?

We complete each paper from scratch and in order to make you feel safe regarding its authenticity, we check it for plagiarism before its delivery. To do that, we use our in-house software, which can find not only copy-pasted fragments but even paraphrased pieces of text. Unlike popular plagiarism detection systems that are used by most universities (e.g. Turnitin.com), we do not report to any public databases—therefore, such checking is safe.

We provide a plagiarism-free guarantee that ensures your paper is always checked for its uniqueness.

Is there a money-back guarantee? If yes, how can I receive a refund?

You can certainly get your money back in several cases. You can receive a full refund if you have paid for your order twice or if you have placed two identical orders. In case your paper was late or the quality of the paper does not correspond to your expectations, you will get compensation for these issues.

Do you keep a database of pre-written essays?

No, we do not have such a database. All papers you order from us are written from scratch. This means your paper is unique and has never been published before—neither will it be published after we deliver it to you.

 

When will my custom paper be done?

While placing an order with WritersHub, you can choose a period of time within which a paper should be delivered to you. The countdown until the specified deadline starts automatically from the moment we receive your payment in our system. For example, if you pay for your order at 6pm on Monday and choose a 3-day delivery option, you will receive your custom paper by 6pm on Thursday.

Remember that a writer needs a sufficient amount of time in order to conduct thorough research. Therefore, please choose the most suitable deadline when you place an order. Moreover, the later you need your paper to be delivered to you, the cheaper it will be. Thus, you will be able to save your money while your writer will have enough time to work on your order and ensure its quality.

Make sure you upload all the additional materials at the very beginning. If you fail to do that, the deadline for your order will be postponed as well.

I haven’t received my custom paper by the deadline. What should I do?

Let us know immediately about that. You can do it by writing a message on Facebook or email us. Our support manager will carefully examine your order and will assist you with it right away. The reasons for late delivery may vary from time to time. It can happen that you have entered a wrong email address or your spam filter does not allow you to receive emails from us. It is also possible that the writer is waiting for your reply and can not continue working without your assistance, or we are checking the work for plagiarism. Whatever the case may be, contact us if you have any problems with getting your order on time.