M o d u l e 1 D i s c u s s i o n Read the AICPA “Statements on Standards for Tax Services” summarized in Chapter 1 under the ‘Tax Practice Ethical Guidelines’ section of your text book. Discuss how you think this statement aligns with the Saint Leo University core value of integrity. M o d u l e 2 D i s c u s s i o n For this week’s discussion respond to each of the following: There are two classes of deductions Deductions for AGI and Deductions from AGI. 1.Discuss the differences between these two classifications and the types of deductions in each classification. 2.Explain which deductions are more advantageous for your tax return. M o d u l e 3 D i s c u s s i o n Of the items specifically excluded from gross income (see exhibit 5.1 in your textbook) which one do you feel should NOT be excluded. DEFEND YOUR RESPONSE. M o d u l e 4 D i s c u s s i o n The Internal Revenue Code specifies that a business expense must be ordinary and necessary and also reasonable in amount. Discuss the meanings of these terms and provide real world examples. M o d u l e 5 D i s c u s s i o n For this week’s discussion respond to EACH of the following: 1. Discuss the difference between halfyear mid-quarter and mid-month conventions. 2. What type of asset falls into each category? 3. Why do YOU think the IRS code has these different categories? M o d u l e 6 D i s c u s s i o n For this week’s discussion respond to EACH of the following: 1. Are itemized deductions equitable? Explain. 2. Is it fair for some individuals to be able to take an itemized deduction while others cannot? Explain M o d u l e 7 D i s c u s s i o n For this week’s discussion respond to EACH of the following: 1. Discuss the exclusions related to the gain on the sale of a personal residence. 2. Do you feel that this provision is equitable? Explain your reasoning. M o d u l e 8 D i s c u s s i o n For this week’s discussion respond to EACH of the following: 1. Why do you think that we have separate reporting of capital gains and capital losses? 2. Discuss the equity of these regulations.