FSMA 310: Income Tax Planning: Home

This LibraryGuide was created in Spring 2018 (and revised in Spring 2019) for students enrolled in Professor Gemmiti's FSMA 310: Income Tax Planning course. The tabs above provide information and links to online sources intended to help complete the research assignment due in this course.

Please select a tax project that interests you (some suggestions below) and write a paper that summarizes your research and conclusion. No late papers will be accepted. If you have any doubt that you may not be in that day, will be sick, or for whatever reason will not be able to hand the paper in on that day, you should finish the paper early and hand it in prior to the due date. Use www.irs.gov and any other authoritative source you can find.

• Section 179 depreciation expense
• Section 1202 Sale of Small Business Corporation Stock
• Auto depreciation expense limitations and the 6,000lb GVWR rule
• Health Savings Accounts
• Principal residence gain exclusion rules
• Auto expensing (standard versus actual expense methods)
• Rule relating to the sale of unimproved land held for investment purposes
• Office in the home tax rules
• Safe harbor repairs expense rules
• Credits/deductions for paying college education costs and 529 plans
• IRAs-Traditional (deductible and nondeductible) and Roth IRAs
• SEP Retirement Plans/Simple Retirement Plans
• “Child Credit,” “Child and Dependent Care Credit,” and “Dependent Care Advantage Accounts.”
• Taxation of divorce settlements
• Residential Rental Property Rules
• Approved project of your liking