Question
1. Taxation Compensation - Although dividends are mostly all taxed at a lower rate of tax than ordinary income, why would the IRS ever challenge
1. Taxation
Compensation - Although dividends are mostly all taxed at a lower rate of tax than ordinary income, why would the IRS ever challenge salaries and call them "disguised dividends"?
Excessive Compensation - How does the IRS know when someone's compensation is "excessive"?
Carried interests - The IRS has been trying to tax carried interests as ordinary income for many years now. Chuck Grassley, a Republican!!!, has been spearheading the movement to tax these distributions as ordinary income. Why? What is a carried interest and why do some claim that it is ordinary income?
Investment expenses - Which expenses are deductible as "investment expenses"?
IRC - Which Code section allows for the deduction of investment expenses? What are the criteria for making them deductible?
Medical expenses - Describe the types of expenses allowed as miscellaneous itemized deductions. What limitation is imposed on these expenses?
Misc deductions - Describe the types of expenses allowed as miscellaneous itemized deductions. What limitation is imposed on these expenses? Please cite a Code section.
Charitable limitation - What is the overall charitable contribution deduction limitation? How are charitable contributions in excess of the current years limit treated?
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