This class was created by Brainscape user Leo O'Connor. Visit their profile to learn more about the creator.

Decks in this class (11)

Chapter 2 - Policy Standards for a Good Tax
Define tax policy,
How does keeping up with tax poli...,
What are the basic standards ever...
56  cards
Chapter 1 - Taxes and Taxing Jurisdictions
Why are taxes pervasive 4,
Why are taxes dynamic,
What is a tax
78  cards
Chapter 4 - Maxims of Income Tax Planning
What is tax planning,
What are income tax planning maxims,
What is tax avoidance
60  cards
Chapter 18 - The Tax Compliance Process
Which federal taxes are self asse...,
What must every person do that ha...,
If an individual reports income o...
110  cards
Chapter 5- Tax Research
What is tax research,
What is a closed fact transaction,
What is a prospective open fact t...
40  cards
Chapter 14 - The Individual Tax Formula
Define above the line deduction,
Define adjusted gross income agi,
Define bunching
67  cards
Chapter 16 - Investment and Personal Financial Planning
Define accelerated death benefits,
Define annual gift tax exclusion,
Define capital gain distribution
81  cards
Chapter 17 - Tax Consequences of Personal Activites.
Define acquisition debt,
Define american opportunity credit,
Define coverdell education saving...
55  cards
Chapter 6 - Taxable Income from Business Operations
Define accrual method of accounting,
Define all events test,
Define allowance method
53  cards
Chaper 10 - Sole Proprietorships, Partnerships, LLCs, and S Corporations.
Define distributive share,
Define employee payroll tax,
Define employer identification nu...
44  cards
Chapter 7 - Property Acquisitions and Cost Recovery Deductions.
Define adjusted basis,
Define amortization,
Define bonus depreciation
62  cards

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income tax

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