1. Discuss and explain the federal income tax law. How does it come about, how is it administered,
how does the taxpayer comply with the tax law with an effort to minimize annual tax liability.
2. The “kiddie tax” applies an interesting twist to prevent minimizing family, federal tax
liability. How does the kiddie tax apply? How is it calculated? Is there still a way to build
wealth for a child and to reduce family tax liability despite the kiddie tax rule?
3. Schedule A has promises/provisions and limitations. Discuss the items of a taxpayer’s
Schedule A in detail. How might a taxpayer avoid some of the limitations of Schedule A.
You must use value examples to illustrate the tax law.
4. The taxpayer (TP) is a sole proprietor running a business. Explain how a sole proprietor will
comply with the tax law. What opportunities and obligations and what benefits does the tax law
*To prepare to answer any of the alternatives above, it is a good idea to develop an outline of
what you will draft or a list of key points. You do not need to redraft the question. Organization
and style of you presentation is important. You must use value examples to illustrate the tax law.