I'm working on a project for my Adv.Corp.Tax Class. I would like to get help and get a detailed explanation to gain a better understanding regarding the following topics:

-Explain in detail what series LLCs are. How they are treated for federal income tax purposes?

-What is a Section 83(b) election? What are the tax consequences of making an 83(b) election, and why may a taxpayer want to make the election?

-List four factors that courts look at to determine if a financial instrument constitutes debt or whether it constitutes equity. What Code section governs whether a financial instrument is considered debt or equity for tax purposes?

-Please discuss the possible taxable year-ends a corporation may choose.

-Under what conditions is it permissible for a corporation to use the cash method of accounting?

-When does the accumulated earnings tax apply? Describe in detail.

-What is a personal holding company? Why does Congress impose such a penalty tax on them?

-In the Thor Power Tool case, the taxpayer kept its books according to GAAP. The Tax Court and other courts agreed that the taxpayer properly complied with GAAP. Why, then, did the taxpayer lose this case?