Define and compare alimony versus child support from a tax

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Reference no: EM1352339

1. You are the tax consultant for a spouse in a divorce proceeding.

Please discuss and compare alimony versus child support from a tax perspective. Please discuss this issue from the perspective of the payer and from the recipient.

2. A tax client has the opportunity to purchase a corporate bond with a yield to maturity of 6% OR a municipal bond with a yield to maturity of 4%. They are in the 33.33% marginal tax bracket.

Please advise them of the tax implications of each investment choice.

3. A tax client who owns a business wishes to either purchase or lease a new Lexus. The cars's purchase price is $50,000 and she expects to drive the car about 80% for business.

Please compare and contrast the tax deductions under the two scenarios and then make a recommendation.

Reference no: EM1352339

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