Acc 455 Week 2 DQ

Wk 2 DQ’s

Week Two Discussion Questions-Please Answer One of the following as your question for the week. Prof Dave

·         What are the alternative tax years available to a corporation? What factors should be considered in electing the tax year?

·         What methods of accounting are available to a small business and to a large business? If the business decides to make an accounting methods change, how is this accomplished?

·         What are the requirements for the following deductions: U.S. production activity deduction, dividend received deduction, and net operating loss? Discuss any recent legislative changes.

·         What is the legislative intent behind the corporate alternative minimum tax (AMT)? Define tax preference items, AMT adjustment, and minimum tax credit.