DeVry ACCT 429 Week 6 Discussions Latest

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DeVry ACCT 429 Week 6 Discussions Latest 

Dq1

S Corporations: Can Just Anyone Join? (graded)

In enacting Subchapter S of the Code, Congress decided to give a certain group of corporations a break from the burden of double taxation. Given this fact, there must be limitations on the corporations that can select S corporation status! Provide an example of one such limitation, including the text of the Code section that provides the limitation. (We might as well get a look at a verbatim Code section or two during the course of this class!)

Dq2

Separately Stated Income? (graded)

By now, you’re probably of the opinion that the distinction between separately stated and nonseparately stated income is one of the most confusing concepts that you’ve encountered this week. For Congress to come up with something this confusing, you know there must have been a good reason (or at least we’d like to think so!). Think about the concept for a moment. What is the broad tax policy behind separating these two categories of income? What is Congress trying to achieve? What problems does it prevent? What problems does it cause?

 

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