Ch 9 Homework Questions (Doesn’t required any reference please use your own words to answer it . Don’t give the reference it’s a study guide professor wants to see students explanation only. To answer...

Prepare a letter to Megan and Jake Bille answering their tax questions. Include in your letter, the appropriate citation (code section, ruling, or case). Use only primary sources. (Do not cite the IRS website or IRS publication.)


Ch 9 Homework Questions (Doesn’t required any reference please use your own words to answer it . Don’t give the reference it’s a study guide professor wants to see students explanation only. To answer this questions Book Link is below: This Subject is only about on Federal tax Research https://reader.yuzu.com/#/ Login – zoiyadeol@gmail.com Password : Newyork@2018 Checkpoint login details http://researchguides.austincc.edu/c.php?g=434716&p=2964934 2. Click on article database 3. select RIA Tax Database You will be https://lsproxy.austincc.edu/login?url=http://checkpoint.riag.com/login?iploc=austincommcoll ACCeID – Z1886596 Password: vikas1984 Q. Megan and Jake Bille are married with two kids, Sammie (18) and Julie (4). Megan is a stay at home mother and Jake is a science professor at University of Texas. Both children are claimed as dependents on the Bille’s tax return.   1. Megan went to the hospital one day for outpatient surgery. The couple hired a babysitter for $80 to watch Julie while she was gone. What tax benefits are available to the Billes for this cash payment? 2. Sammie is a future NBA prospect. This year, while he was a college freshman and classified as an amateur under NCAA rules, the Billes spent $14,000 for special clothing, equipment, camps, and personal trainers to keep improving Sammie’s skills. Can the Billes deduct these items? 3. Under his contract, Jake’s inventions while employed at the university are the property of University of Texas, but Jake receives an addition to his salary equal to one-third of the royalties received by the university. This year, Jake received $100,000 on top of his salary, as royalties allocated to him. Does Jake recognize this amount as ordinary income or capital gain?   Required: Prepare a letter to Megan and Jake Bille answering their tax questions. Include in your letter, the appropriate citation (code section, ruling, or case). Use only primary sources. (Do not cite the IRS website or IRS publication.) Rubric: Format: +5 Spelling/Grammar: +5 Restatement of facts: +5 Correct answer(s): +30 Citations included: +5