Moira Rose plans to contribute 10% of her $65,000 salary into a 401(k) account in 2020.  She expects to earn a 4% rate of return. Her current marginal tax rate is 28% and she expects her marginal tax rate upon retirement in 15 years to be 28%.  Which type of 401(k) will generate the largest after-tax accumulation of her 2020 contribution?

David Rose gives his mother Moira $10,000 to spend on clothing and wigs. David’s marginal tax rate is 32% and Moira’s marginal tax rate is 10%. David owns a store and needs assistance. How much would employing Moira at the store and paying her enough for her to have $10,000 left after tax save the family overall in tax (ignore payroll and employment tax)?

What is the correct order of the IRS Appeals/Litigation Process?  1. Trial Court  2. 30 Day Letter   3. IRS exam (audit)  4. 90 Day Letter (statutory notice of deficiency)

Mutt Schitt, a single taxpayer, has received gross income of $220,000 through November 2020.  Mutt is deciding whether to accept one of two engagements for December.  Engagement 1 will generate $80,000 of revenue at a cost of $15,000 which is deductible for AGI.  In contrast, engagement 2 will generate $80,000 of revenue at a cost of $10,000, which is deductible as an itemized deduction.  Mutt has no other itemized deductions that those from Engagement 2. A. Identify which engagement Mutt should choose. (2 points) B. State the tax savings (i.e. difference in after-tax income). (8 points) C. What type of tax planning strategy is this? (2 points)      

Jocelyn and Roland file a joint return. Jocelyn works and receives income during the year but Roland does not. If the couple files a married filing joint tax return, Roland is not responsible for paying any taxes due if Jocelyn is unable to pay the taxes. 

The tax authority has changed the tax rate structure such that all income is taxed at 35%. Ted decides to work harder such that his after-tax income remains the same. Assuming prior to the law change his pre-tax income was 175,000 and his tax rate on all income was 25%, how much must he earn? 

Twyla is unmarried and has no children. Twyla’s mother, who lives in an apartment across town, earns $5,000 which she uses to buy groceries and get her hair done. Twyla pays for her mother’s rent ($10,000) and health insurance ($5,000). Which is the most advantageous filing status available to Twyla?

Why does osteomyelitis in the adult population lead to pathologic fracture?

A form of arthritis that primarily affects the spine, causing inflammation and severe, chronic pain in the vertebral joints is called:

Erb Palsy typically affects which nerve roots?