1) Based on everything we've covered in the class thus far, please answer the following: What was your favorite tax topic and why? Which topic was the most confusing? Which topic would you have liked to spend more time learning about? Do you think you would specialize in taxation?

2) You recently received the following e-mail from a client and friend:

Hey Great Student,

I cannot believe it is almost year end! Only a few days before its 2021.

As you recall, I was lucky enough to win big at the casino back on New Years Day earlier this year (thanks for celebrating with me). I took the $3,000 I won and bought 100 shares of stock in that cool new smartphone app company, TriviaAddiction. I just love playing that game. Anyway, the stock has done well, and I am thinking of selling before year end now that the price has reached $240 per share. Since you are my tax adviser, I thought Id ask a couple of questions:

1. Is there any reason to wait and sell later?
2. If I dont sell, the price might go down (TriviaMaster seems to be replacing TriviaAddiction as the hot new game). Im thinking the price might be as low as $220 by early next year.

My taxable income this year and next year is expected to be $40,000 (not including the stock sale). I think that puts me in the 12 percent tax bracket? Any suggestions on what I should do?

Thanks!

Sue

Prepare an e-mail to your friend Sue addressing her questions. Be certain to include estimates of the different after-tax outcomes she is suggesting. Sue is a single taxpayer and not a tax expert and so your language should reflect her limited understanding of tax law and avoid technical jargon. Although Sue is your friend, she is also a client and your e-mail should maintain a professional style.