POST ACC525 Unit 3 Discussion Latest 2019 July Question # 00602757 Course Code : ACC525 Subject: Business Due on: 07/05/2019 Posted On: 07/05/2019 12:29 PM Tutorials: 1 Rating: 4.7/5
ACC525 Advanced Topics in Taxes
Unit 3 Discussion
Using the
text, the readings and other exercises, as well as any additional research
done, discuss here what some of your learnings and insights are regarding the
revenue and expenditure issues. Also share what you think some of the
challenges might be when it comes to these issues/topics.
What are
the characteristics of a qualified trade or business? What records can the IRS require from a
taxpayer to substantiate a qualified trade or business deduction?
Ken, owner
of Kendrick Corporation, realizes that he needs to send an employee to a
temporary assignment at a plant in another state. He can either send one employee for an
18-month assignment or two employees for 9-month assignments. Kendrick Corporation will pay for all the
meal and lodging expenses while the employees are on their out-of-town
assignments.
Does it
make any difference from a tax perspective to Kendrick and to the employees
which option Ken chooses?
Consider
any ethical issues that may arise. Cite
proper IRS regulation(s) to support your point of view. Review rubric for discussion requirements.
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