Assets that are used for both personal and business purposes are
termed as listed property under TCJA.The TCJA increases the
depreciation under section 280F for listed property.
Which of the following statements is TRUE regarding recapture
for listed property under §280F? No depreciation is claimed for the
item for the year in which recapture is made. The year following
the year of recapture, use the general depreciation system (GDS),
unless business use of the item drops to 50% or less. The year
following the year of recapture, use the straight-line (SL) method
in the general depreciation system (GDS), as long as the business
use of the item...
The acronym for the new provision under the Tax Cuts and Jobs
Act (TCJA) that may require the inclusion of some of the earnings
of a foreign (non-US) subsidiary in a US corporation’s US income
tax return, even though the foreign subsidiary did not actually
distribute these earnings to the US corporation is:
a. GILTI
b. FDII
c. CFC
d. BEAT
Under the Tax Cuts and Jobs Act (TCJA) which of the following
statements is true regarding changes to charitable
contributions?
A. The new law provides that for charitable contributions made
after December 31, 2017 until January 1, 2026, the limitation for
cash contributions to public charities and certain private
foundations is decreased to 25% of adjusted gross income (AGI)
B. A charitable deduction is allowed for any payment to an
institution of higher education in exchange for which the payor...
5 page for Qualified Business Income (QBI) under the 2017 Tax
Cuts and Jobs Act (TCJA)
give me a nice introduction and conclusion
not accept handwriting, the only acceptable type document
Under the Tax Cuts and Jobs Act (TCJA), the Child Tax Credit
also includes a non-refundable credit for qualifying dependents
other than qualifying children. Which of the following is true
regarding this Credit for Other Dependents (ODC)?
A. The credit is $500 and can be claimed for elderly or disabled
dependents or children over 17
B. The credit can be claimed for eligible dependents only in
2018
C. The credit can only be claimed only if the taxpayer includes
a...
Which of the following property is covered under the personal
property coverage (Coverage C) of the Homeowners 3 policy? a) a pet
dog owned by the named insured b) a bicycle owned by a foster child
living with the named insured c) a motor vehicle owned by the named
insured. d) a stamp collection insured under a separate policy
Laws for AccountantsArticle 9 of the UCC describes different types of property that
may be used for collateral. What are the various categories of
property under Art. 9-excluding securities since different rules
apply to how security interests are created, attach and are
perfected in securities. What are these other types of
property and why is that important? Note-remember that the UCC does
NOT cover real estateWhat are the steps to perfect a security interest under Art. 9
of the UCC? For...