Serena operates a lawn maintenance service in southern

Assignment Help Accounting Basics

Reference no: EM13586562

1. Serena operates a lawn maintenance service in Southern California. As most of her employees are itinerant, they are paid on a day-to-day basis. Because of cash-flow problems, Serena requires her customers to pay cash for the services she provides.
a. What are some of the tax problems Serena might have?
b. Assess Serena's chances of audit by the IRS

2. Using the legend provided, classify each of the following statements:

A - Tax avoidance
E - Tax evasion
N- Neither

a. Monica writes a $1,000 check for a charitable contribution on December 28, 2011, but does not mail the check to the charitable organization until January 10, 2012. She takes a deduction in 2011.
b. Robert decides not to report interest income from a bank because the amount is only $11.75.
c. Jim pays property taxes on his home in December 2011 rather than waiting until February 2012.
d. Jane switches her investments from taxable corporate bonds to tax-exempt municipal bonds.
e. Ted encourages his mother to save most of her Social Security benefits so that he will be able to claim her as a dependent.

Reference no: EM13586562

Questions Cloud

Bob smith a professional basketball player raises black : bob smith a professional basketball player raises black angus cattle under circumstances that would indicate that the

What is the maximum torque that can be obtained with the : the plane of a 5.0 cm x 8.0 cm rectangular loop of wire is parallel to a 0.19-t magnetic field. the loop carries a

When the current in solenoid i is 652 a the average flux : question two toroidal solenoids are wound around the same form so that the magnetic field of one passes through the

Payroll accounting assume that the following tax rates and : payroll accounting. assume that the following tax rates and payroll information pertain to brookhaven publishing middot

Serena operates a lawn maintenance service in southern : 1. serena operates a lawn maintenance service in southern california. as most of her employees are itinerant they are

Congress recently enacted an non refundable credit based on : congress recently enacted an non refundable credit based on the cost of the qualifying alcohol and drug abuse

A 150-cm-iong solenoid with radius 250 cm is closely wound : a 15.0-cm-iong solenoid with radius 2.50 cm is closely wound with 600 turns of wire. the current in the windings is

Explain your strategy for solving the problem explain why : you are playing texas holdem against one other opponent.your two down cards are 6 of diamonds amp 7 of diamonds.the

Stones manufacturing sells a marble slab for 1000 fixed : stones manufacturing sells a marble slab for 1000. fixed costs are 30000 while the variable costs are 400 per slab. the

User Account

All Pages