1. Discuss the concept of material participation. To be considered a material participant, what tests must the taxpayer satisfy?
2. Discuss the AMT formula and how it relates to the regular income tax.
3. After learning about how complex the tax system has become in an effort to create some level of tax "equality" or "fair share" philosophy amongst tax payers, do you feel their is a better way? That is, if you were to design a system of taxation that you felt was "Fair" to all taxpayers (rich and poor) what would to core tenants of that system be?