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Explain what is the most beneficial, or useful piece of tax information we can learn from tax courses. Explain why.

tax return preparers should report expenses using correct tax categories because?

In your own words, describe the similarities and differences between tax credits and tax deductions.  Your response must include two (2) examples of each kind and a discussion on why you think credits are better than deductions, or if deductions are better than credits, or maybe you think they are equal!  Tell us why you feel this way.

Assuming that you were a tax consultant of a certain company, discuss the specific provisions of the TRAIN LAW which you can use in tax planning. Apply your knowledge in tax saving strategies.

Individual tax filing requirements and circumstances can change, so it is important to be familiar with the research tools available to you as a tax practitioner. In this discussion, you will consider research resources available for tax preparers and how they can be used in the field. What are the available commercial and noncommercial tax resources that you could utilize as a tax practitioner? Refer to Section 2-2A through 2-2C (specifically, exhibit 2-7) in your textbook for options. Which commercial resource do you think is the most beneficial to a tax practitioner? (Note that you will not be able to access the commercial resources but can find their features on their website.) Which noncommercial resource do you think is the most beneficial to a tax practitioner? How might you use the tax research process (refer to Section 2-3 in your textbook) for utilizing tax resources in preparing individual tax returns. (Think about ways you could use this process to support you in…

Which of the following is the best definition of tax planning? Oa. Planning taxpayers' financial affairs to find the best way to avoid tax by successfully bending tax law Ob. Planning taxpayers' financial affairs in an effort to minimize tax liability Oc. Researching complex tax issues Od. Preparing a client's tax return Oe. None of these choices are considered tax planning.

Examine the income source rules discussed in the textbook and suggest at least two current tax rules that can prevent the manipulation of the source rules to eliminate taxes.