$1.$ Would an individual taxpayer receive greater benefit from deducting an expense or from taking a credit equal to $25\%$ of the expense? How would your response change if the item would only be deductible from AGI?

$2.$ Explain the purpose of the disabled access credit and identify several examples of the type of structural changes to a building that qualify for the credit.

$3.$ Critical Thinking

Tim recently was called into the partner$$s office and offered a two$-$year assignment in his public accounting firm$$s Shanghai office. Realizing that Tim will face incremental expenses while in Shanghai, such as foreign income taxes and rent, the firm will try to make him $$whole$$ from a financial perspective by increasing his salary to help offset the expenses he will incur while living overseas. If Tim takes the assignment, he likely will rent his U$.$S$.$ personal residence and sell several major tangible assets such as his personal automobile. Identify the relevant Federal income tax issues.

$4.$ Critical Thinking

Mark and Lisa are approaching an exciting time in their lives as their oldest son, Austin, graduates from high school and moves on to college. What are some of the tax issues Mark and Lisa should consider as they think about paying for Austin$$s college education?

$5.$ Critical Thinking

Maria, a single individual with wage income of $$170,000$ and no other income, is considering purchasing a new electric car. What are some of the features she should look for to be able to claim the clean vehicle credit?

$6.$ During $2023,$ Lincoln Company hires seven individuals who are certified to be members of a qualifying targeted group. Each employee works in excess of $600$ hours and is paid wages of $$7,500$ during the year. Determine the amount of Lincoln$$s work opportunity credit.

$7.$ In $2023,$ Santiago and Amy are married and file a joint tax return. They have three dependent children, ages $12,14,$ and $19.$ All parties are U$.$S$.$ citizens. The couple$$s AGI is $$140,000.$ Determine any available child tax credit and dependent tax credit.

$8.$ Adelyn has a tentative general business credit of $$42,000$ for the current year. Adelyn$$s net regular tax liability before the general business credit is $$107,000,$ and her tentative minimum tax is $$88,000.$ Compute Adelyn$$s allowable general business credit for the year.