Business Law

Karl purchased his residence on January 2, 2014, for $260,000, after having lived in it during 2013 as a tenant […]

Wanda, a calendar year taxpayer, owned a building (adjusted basis of $250,000) in which she operated a bakery that was

In two unrelated transactions, Laura exchanges property that qualifies for like-kind exchange treatment. In the first exchange, Laura gives up

Mitchell, a calendar year taxpayer, is the sole proprietor of a fast-food restaurant. His adjusted basis for the building and

1. Thomas is a self-employed plumber under the age of 50. His earnings from self- employment, before the Keogh deduction

1. Employees claim withholding allowances on Form W-4. Each withholding allowance claimed lowers their annual withholding base by what amount

1. Darren paid the following expenses during November 2015 for his son Sean’s college expenses for spring 2016 semester, which

Suzette inherited property from her father on April 19, 2015. The FMV at the date of death was $40,000. The

Davidson Industries, a sole proprietorship, sold the following assets in 2015: a. The following questions relate to the sale of

Ricardo acquired a warehouse for business purposes on August 30, 1996. The building cost $400,000. He took $226,900 of depreciation