Hera's
Income Tax School
Grade Book
www.herasincometaxschool.com (213)
454-0567
1-877-300-6837
Encourage others to learn
taxes with our Tax
School.
Welcome
Back!
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Student Name: |
Jose Jesus
Zacarias |
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Address: |
421 20th Street |
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City, State, Zip: |
San Diego, CA 92102 |
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Email: |
zactour@hotmail.com |
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Phone No.: |
619.238.1577 |
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CTEC No. : |
A151010 |
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1129JJ |
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PTIN: |
P00616251 |
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cudbertocudberto |
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Oregon No. : |
NA |
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1129 |
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EA No.: |
NA |
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1128 |
cudberto |
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Course Type: |
Continuing Education |
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2020 Continuing Tax
Education Courses

Tracker -> 2020 California
Review Questions -> Transcript (Jose Jesus Zacarias)
Summary
Report
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmail.com |
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User
Identifier 3: |
A151010 |
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User
Identifier 4: |
POO616251 |
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Quiz Title: |
2020
California Review Questions |
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Overall
Result: |
PASS |
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Overall
Score: |
110/150 |
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Percentage
Score: |
73 |
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Passing
Percentage: |
70 |
|
Time Results
Received: |
Sep 27,
15:10:31, 2019 |
|
Time Spent: |
00:12:13 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question 1
The TCJA tax reform amended section 11(3) to provide a pe
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B. We will
continue to use the same California Consumer |
10 |
19.42s |
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Question 2
One of the tax planning strategies is about knowing how n
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C. Does not
conform with federal to the changes to the NOL |
10 |
102.99s |
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Question 3
As with married couples, things happen in the relationshi
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D. All of
the above. |
10 |
143.00s |
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Question 4
Moving expenses have been suspended by the TCJA for tax y
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C.
California will continue to allow moving expenses at the
|
10 |
67.50s |
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Question 5
California taxes the interest received from bonds that ar
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A. Look
forward to paying the tax on the interest earned
|
10 |
15.49s |
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Question 6
The new Tax Cuts and Job Act has also revised the depreci
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C. Both A
and B above. |
10 |
83.44s |
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Question 7
All depreciation methods used must be acceptable to Calif
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B. Adjust
your depreciation and the useful life of the |
10 |
16.97s |
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Question 8
California mainly conforms to the federal tax law, except
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A. When
there are issues involving California residency
|
0 |
18.18s |
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Question 9
The new Tax Cuts and Jobs Act of 2017 also brought change
|
C.
California wants to keep to the original plan to help
|
10 |
25.44s |
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Question 10
In order to motivate companies to make treatment drugs t
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C. No
comparable credit but the expenses can be repurposed. |
10 |
20.44s |
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Question 11
There are benefits offered by investing in a Roth IRA wh
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A. If you
contribute too much to a Roth IRA, you may have to |
0 |
62.20s |
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Question 12
You must be able to identity what constitutes unemployme
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A. As far as
California is concerned, unemployment is not |
10 |
56.89s |
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Question 13
Now the federal IRC has due diligence requirements for q
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D. None,
California conforms to the due diligence |
10 |
33.31s |
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Question 14
The nonrefundable renter s credit, as with the other cre
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D. The
correct information on the California tax return and
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0 |
19.91s |
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Question 15
If you didn t itemize deductions on your federal tax ret
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D. None of
the above. |
0 |
38.72s |
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Tracker -> 2018
California Final Exam -> Transcript (Jose Jesus Zacarias)
Summary
Report
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmail.com |
|
User
Identifier 3: |
A151010 |
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User
Identifier 4: |
POO616251 |
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User
Identifier 5: |
1129 |
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Quiz Title: |
2018
California Final Exam |
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Overall
Result: |
PASS |
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Overall
Score: |
200/250 |
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Percentage
Score: |
80 |
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Passing
Percentage: |
70 |
|
Time Results
Received: |
Sep 27,
20:42:36, 2019 |
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Time Spent: |
00:33:16 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question New
federal tax law limits the NOL deduction to 80 percent o
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D. Will
continue to allow NOLs to be carried back two years
|
10 |
55.62s |
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Question On
December 22, 2017, the new tax bill went into effect incr
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D. All of
the above. |
10 |
66.32s |
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Question The
federal law changes to simplify the kiddie tax by effect
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B.
California does not conform to the federal IRC section
|
0 |
385.44s |
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Question
Talking about students and the tax benefits of being a
stude |
A. Reverse
it for California tax purposes by entering the |
10 |
47.66s |
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Question The
following type of eligible medical expenses will change
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A. Expenses
for doctor, dentists, chiropractors, |
0 |
49.68s |
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Question The
new Tax Cut and Job Act has changed our 2018 SALT The n
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D. None,
California does not allow a deduction for state and |
10 |
195.81s |
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Question
California conforms to the federal EITC as to the federal
la |
B. Only if
these amounts are subject to California |
10 |
124.52s |
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Question
California agrees and has been conforming to the deduction
o |
B. Does not
conform to the new federal limitation on the |
10 |
78.96s |
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Question The
new Tax Cuts and Job Act law has made the deduction for
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A. Increases
to 60%. |
0 |
23.59s |
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Question The
annual contribution is adjusted for inflation as are mos
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A. $15,000
because California conforms to the increase. |
0 |
96.45s |
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Question
There are many credits, deductions and employee fringe
benef |
D. None of
the above. |
10 |
46.81s |
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Question The
provision in the new Tax Cuts and Jobs Act allows studen
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C. Both A
and B above. |
10 |
74.57s |
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Question
California does not conform to the federal standard
deductio |
A. The
standard deduction amounts for California are |
10 |
57.99s |
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Question Due
to the fact that the Paid Family Leave (PFL) program is
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B. Tax Free
for California tax purposes. |
10 |
38.58s |
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Question The
following is a true statement about ridesharing fringe b
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C.
California law provides income exclusions for |
10 |
60.14s |
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Question An
exclusion from gross income of certain military pay recei
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D. All of
the above. |
0 |
123.24s |
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Question
Upon filing a California domestic partnership with the
state |
A. With this
ruling, individuals of the same sex can now |
10 |
68.78s |
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Question The
new TCJA tax reform suspends all miscellaneous itemized
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C. Both A
and B above. |
10 |
40.57s |
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Question
California offers tax breaks for businesses located in econ
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D. All of
the above. |
10 |
30.15s |
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Question
Very important to remember that if both the state of
Califor |
B. There is
no need to file Schedule CA of Form 540. |
10 |
50.65s |
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Question You
should consider tax planning as part of your tax filing
|
B. Tax
planning strategies. |
10 |
53.70s |
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Question
Qualified bicycle commuting reimbursement exclusion has bee
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A. Does not
conform to the suspension. |
10 |
39.55s |
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Question We
are mostly concerned with items that differ in preparing
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A. You must
account for the difference and make the |
10 |
44.42s |
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Question
This deduction can allow you to take a deduction for up to
2 |
A.
California does not conform to the new federal deduction
|
10 |
56.74s |
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Question The
threshold percentage of unreimbursed medical expenses is
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A. Differ -
10 percent for federal taxes and 7.5 percent for |
10 |
72.36s |
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Tracker -> 2019 Tax Ethics Final
-> Transcript (Jose Jesus Zacarias)
Summary
Report
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmail.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
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User
Identifier 5: |
1129 |
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Quiz Title: |
2019 Tax
Ethics Final |
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Overall
Result: |
PASS |
|
Overall
Score: |
160/200 |
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Percentage
Score: |
80 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Sep 14,
13:28:54, 2019 |
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Time Spent: |
00:21:07 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
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Question An
examining officer, or other Service officer or employee w
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C. The
taxpayer directly. |
0 |
45.49s |
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Question The
new thing this time around is that an individual applyin
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B. Form W-7 |
10 |
50.98s |
|
Question
Filing electronically allows you to receive your refund
much |
A. 3 weeks. |
10 |
8.83s |
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Question For
2018, you must complete and submit _________ for all pap
|
C. Form
1040EZ. |
0 |
126.23s |
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Question Tax
preparation is your profession and you should always fol
|
D. Any of
the above. |
10 |
25.46s |
|
Question The
taxpayer who is issued an ITIN is usually not eligible t
|
A. These
people are usually not eligible for an SSN. |
10 |
38.56s |
|
Question You
need to answer the questions covering EITC eligibility o
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C. Form 8867 |
10 |
131.07s |
|
Question A
preparer that is also a financial institution, but has not
|
D. Any of
the above. |
10 |
227.73s |
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Question
Your client may need to file Form 8862 in 2018 and may be
ba |
A. Next 10
years. |
10 |
16.39s |
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Question If
you prepared a tax return two years ago when you were par
|
A. At every
stage of the tax returns you prepare to be able
|
10 |
41.05s |
|
Question The
ERO may use ___________ as authority to input the taxpa
|
B.
Pre-signed authorizations |
10 |
25.82s |
|
Question A
few things to consider, even the most basic of things abou
|
D. All of
the above. |
10 |
67.49s |
|
Question
Starting in 2018, you can represent taxpayers if you are
|
D. Any of
the above. |
10 |
12.15s |
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Question The
IRS can only allow so much abuse and may start sending L
|
B. $1,000
for each missing form. |
0 |
183.92s |
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Question
Under IRC section 6692(g), the new tax law Tax Cuts and
Jobs |
B. $520 for
each failure. |
10 |
20.77s |
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Question The
director of the Office of Professional Responsibility mu
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A. 30 days |
10 |
16.51s |
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Question A
________ may be imposed, per I R C §6695(f), on a return
|
B. $520
penalty. |
10 |
118.11s |
|
Question You
as a tax professional are defined under the FTC as a fin
|
D. All of
the above. |
10 |
29.26s |
|
Question
Providers must never put their address in fields reserved
fo |
|
0 |
45.26s |
|
Question The
IRS has identified ___________ as a key indicator of pot
|
A.
Questionable Forms W-2 |
10 |
22.04s |
|
Tracker -> 2019 Updates Final
Exam -> Transcript (Jose Jesus Zacarias)
Summary
Report
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmail.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
|
User
Identifier 5: |
1129 |
|
Quiz Title: |
2019 Updates
Final Exam |
|
Overall
Result: |
PASS |
|
Overall
Score: |
280/400 |
|
Percentage
Score: |
70 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Sep 3,
13:13:42, 2019 |
|
Time Spent: |
00:43:25 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question
Other items also affect couples which would cause a marriag
|
D. All of
the above. |
10 |
26.36s |
|
Question
Repealing of the Affordable Care Act will be done in
|
D. 2021 for
tax year 2020. |
0 |
42.98s |
|
Question
What is a modification made to the mortgage interest,
charit |
C. The new
rules do not allow deductions for interest on |
10 |
69.38s |
|
Question The
Dependent Care FSA (DCFSA) is a pre-tax benefit account
|
C. Both A
and B above. |
10 |
53.35s |
|
Question The
couple will have again resulting in a marriage bonus i
|
C. Both A
and B above. |
10 |
68.20s |
|
Question
There will be no change to the Child and Dependent Care
Cred |
C. Both A
and B above. |
10 |
27.65s |
|
Question All
efforts by Republicans to do away with the Affordable Ca
|
C. We will
still be liable for the Obamacare penalty for tax |
10 |
40.03s |
|
Question For
tax year 2018 we will no longer be able to take deductio
|
C.
Unreimbursed employee expenses along with parking and
|
10 |
58.42s |
|
Question It
may be some kind of hack which the new administration is
|
D. All of
the above. |
10 |
85.28s |
|
Question The
new tax bill had plans of eliminating or reducing educat
|
D. None of
the above. |
10 |
24.45s |
|
Question
Instead of a marriage penalty, the couple could fair better
|
B. Bonus. |
10 |
47.20s |
|
Question
Income can stilll be sheltered in a dependent care flexible
|
B. Up to
$5,000 per year per dependent. |
0 |
94.40s |
|
Question The
deduction for state and local taxes is limited to $10,00
|
D. Taxpayers
will be more interested in claiming the |
0 |
62.24s |
|
Question A
taxpayer can completely eliminate the possibility of the m
|
A. Planning
their taxes before marriage. |
10 |
31.48s |
|
Question It
is the goal of the tax accountant to use every possible l
|
A. Usually
this is done with proper tax planning. |
10 |
47.70s |
|
Question
What is a notable change to the charitable contribution
dedu |
C. Both A
and B above. |
10 |
17.16s |
|
Question We
can measure the consumer price index by looking at the av
|
C. New tax
law - new way to calculate inflation. |
10 |
42.21s |
|
Question One
change in the new tax law is that |
D. All of
the above. |
10 |
55.12s |
|
Question The
house of Representatives original tax reform bill conta
|
B. Seven tax
brackets. |
10 |
28.40s |
|
Question The
way that pass-through business income is taxed is part o
|
B. In 2018,
you will be able to deduct 20% of your |
10 |
51.79s |
|
Question For
tax purposes, a couple who is married |
C. Both A
and B above. |
10 |
45.30s |
|
Question By
inflation we mean rising prices and by deflation we mean
|
C. The new
tax law will now use the chained CPI which grows
|
0 |
28.45s |
|
Question The
marriage penalty is almost gone What is the marriage pe
|
D. All of
the above. |
10 |
39.85s |
|
Question The
new administration is trying to simplify the tax code by
|
B. Doubling
the standard deduction for all taxpayers. |
0 |
67.34s |
|
Question The
sheltered dependent care flexible spending account on po
|
D. Any of
the above. |
10 |
31.30s |
|
Question
Pass-through entities are businessese organized under the
ow |
D. All of
the above. |
0 |
95.55s |
|
Question The
new administration is trying to influence corporations t
|
A.
Penalizing corporations who stay abroad. |
0 |
56.45s |
|
Question The
itemized deductions such as for mortgage interest, chari
|
A. The
standard deduction for your filing status will most
|
10 |
59.23s |
|
Question
Larger families will definitely be affected by the
eliminati |
D. All of
the above. |
10 |
74.03s |
|
Question
What is taxed under capital gains? |
D. Only
property that you hold for more than one year. |
0 |
63.93s |
|
Question
There will be a nonrefundable credit if your child is 17 or
|
C. $500. |
10 |
48.93s |
|
Question The
end result behind the changes to the corporate tax rates
|
D. A U.S.
corporation will have to continue to pay taxes on
|
0 |
383.74s |
|
Question For
tax year 2018 we will no longer be able to take deductio
|
B. State and
local taxes. |
0 |
62.63s |
|
Question The
new administration was frantically trying to get everyth
|
A. New tax
laws have to cover an entire year- the entire 12
|
10 |
31.47s |
|
Question The
threshold for the medical expense deduction was 7 5% of
|
A. We are
back to the 7.5% threshold. |
10 |
31.74s |
|
Question
Many professionals such as lawyers, doctors and accountants
|
B. Hopefully
the pass-through income deduction of 20% from |
0 |
118.50s |
|
Question A U
S corporation that had to pay taxes on their profits ear
|
A. No more
corporate double taxation for foreign |
10 |
88.78s |
|
Question Why
does it matter that capital gains are held short term or
|
B.
Short-term capital gains are subject to taxation as
|
10 |
58.86s |
|
Question The
tax rates are lower with about 2% less than with the pre
|
D. 10%. |
10 |
171.28s |
|
Question
Taxpayers use tax benefits to significantly reduce their
reg |
A. There are
two tax systems in place when calculating the |
0 |
49.45s |
|
Tracker -> 2018 Federal Tax Law
Final Exam -> Transcript (Jose Jesus Zacarias)
Summary
Report
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmail.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
|
User
Identifier 5: |
1129 |
|
Quiz Title: |
2018 Federal
Tax Law Final Exam |
|
Overall
Result: |
Pass |
|
Overall
Score: |
340/500 |
|
Percentage
Score: |
70 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Aug 28,
15:17:55, 2019 |
|
Time Spent: |
00:43:22 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question The
Tax Cuts and Jobs Act did not make any changes to the IR
|
D. Any of
the above. |
10 |
56.61s |
|
Question If
you expect your 2018 tax liability to be ________ or more
|
A. $1,000. |
10 |
54.50s |
|
Question For
2018, if we have $10,000 hobby income and $10,000 hobby
|
B. $10,000 |
10 |
32.44s |
|
Question
There is a penalty for receiving an excessive claim for
refu |
D. 50
percent. |
0 |
46.09s |
|
Question In
2018, if you are entitled to a lump-sum distribution from
|
Asking your
employer to make a direct rollover of your |
10 |
78.89s |
|
Question To
further illustrate, you bought 5,000 shares of XYZ Corp
|
B. You have
no qualified dividends from XYZ Corporation |
10 |
65.58s |
|
Question For
2018, the maximum allowed depreciation expenses for pass
|
D. $100,000
limitation. |
0 |
41.26s |
|
Question You
are allowed to contribute and deduct up to 60% of your A
|
A. $21,000 |
10 |
35.24s |
|
Question You
can request an automatic extension of time to file a 201
|
C. Form
4868. |
10 |
97.44s |
|
Question For
2018, you are required to report information about asset
|
|
0 |
2.27s |
|
Question
Business income is any income received from the sale of
your |
C. Security
deposits and loans. |
10 |
27.63s |
|
Question The
Earned Income Tax Credit remains unchanged under the new
|
D. Help
needy families. |
0 |
40.05s |
|
Question For
2018, there are many things you can do to keep good reco
|
D. Any of
the above. |
10 |
27.74s |
|
Question In
2018 this end of January date was January 29, 2018 In 20
|
D. Memorial
day. |
0 |
50.23s |
|
Question For
2018, the CDCTC or child care dependent tax credit allow
|
A. If
therefore if there is no tax to cancel, there is no
|
10 |
51.13s |
|
Question
Under the new tax law, Starting in 2018 the qualifying
prope |
D. Any of
the above. |
10 |
31.55s |
|
Question The
new Tax Cuts and Jobs Act expenses that are still deduct
|
C. Both A
and B above. |
10 |
118.41s |
|
Question For
2018, the 529 plans have been expanded under the new Tax
|
A. This has
been known under the name 529 college savings |
10 |
50.58s |
|
Question You
can try to figure out what to do about making sure the I
|
C. Both A
and B above. |
10 |
55.07s |
|
Question If
you are married, you can only take an additional standard
|
B. $1,600 |
0 |
195.11s |
|
Question If
you are single and receive $25,000 is Social Security ben
|
D. $10,000. |
0 |
276.41s |
|
Question For
2018, you would deduct a percentage of these expenses -
|
D.
Simplified method. |
0 |
38.71s |
|
Question For
2018, unemployment benefits are fully taxable and the be
|
C. Form
1099-G. |
10 |
34.47s |
|
Question
There are things you must consider in your ability to
deduct |
C. Both A
and B above. |
10 |
32.32s |
|
Question For
2018, to be able to deduct 50% of your meals as a busine
|
B. Ordinary
and necessary in carrying on your trade or |
10 |
30.23s |
|
Question The
older or blind individuals will continue to receive an a
|
A. $1,300
for 2018. |
10 |
44.65s |
|
Question
Starting in 2018, a taxpayer would not be allowed to claim
a |
|
0 |
51.08s |
|
Question You
must also consider the time when you make certain expens
|
C. Both A
and B above. |
10 |
64.68s |
|
Question
Estimated tax is the method used to pay Social Security and
|
B. Form
1040-ES |
10 |
106.46s |
|
Question For
2018, expenses that would normally have nothing to do wi
|
B. 100
percent. |
10 |
40.80s |
|
Question
Starting in 2018, as it relates to listed property, each
yea |
C. The
lesser of A or B above. |
10 |
117.59s |
|
Question The
highest 2018 tax rate is |
D. 39.60
percent. |
0 |
16.79s |
|
Question For
2018, the personal exemption which is normally adjusted
|
B. $0 |
10 |
23.79s |
|
Question The
new deduction for pass-through businesses was created by
|
D. All of
the above. |
10 |
27.98s |
|
Question You
may claim on Form 8863 a Lifetime Learning credit of up
|
D. $5,000. |
0 |
25.20s |
|
Question For
2018, you must prove or be ready to prove that you have
|
D. All of
the above. |
10 |
26.97s |
|
Question For
2018, if you are required to file an FBAR and fail to do
|
B. $10,000. |
10 |
65.38s |
|
Question The
rules for employer-operated eating facilities remain at
|
D. All of
the above. |
10 |
27.14s |
|
Question For
2018, the simplified method at arriving at your deductib
|
B. $5,000. |
0 |
29.47s |
|
Question For
2018, a report on Foreign Bank and Financial Accounts, g
|
A. Exceeds
$10,000. |
10 |
18.43s |
|
Question
Practically everything you received for your work or
service |
D. All of
the above. |
10 |
28.88s |
|
Question You
must keep records in 2018 to substantiate your tax retur
|
D. Any of
the above. |
10 |
19.92s |
|
Question The
suspension of unreimbursed employee business deductions
|
A. The hobby
losses will be completely eliminated. |
10 |
15.76s |
|
Question You
may contribute to a dependent care FSA if you expect to
|
A. $5,000. |
0 |
16.49s |
|
Question
When a taxpayer dies, his standard deduction is what it
woul |
C. $13,300 |
10 |
55.67s |
|
Question
Under the new Tax Cuts and Jobs Act, a qualified 2016 disas
|
A. 10
percent. |
10 |
20.81s |
|
Question In
2018, you generally must report sales and other dispositi
|
C. Form
8949. |
10 |
71.92s |
|
Question For
2018, a mandatory ______ withholding rate applies to eli
|
A. 10
percent. |
0 |
17.81s |
|
Question For
some eligible property with longer production periods, t
|
D. Any of
the above. |
0 |
26.23s |
|
Question For
2018, under the new Tax Cuts and Jobs Act, the three cap
|
D. None of
the above. |
0 |
45.18s |
|
Tracker -> 2020 Ethics Review
Questions -> Transcript (Jose Jesus Zacarias)
Summary
Report
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmail.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
|
Quiz Title: |
2020 Ethics
Review Questions |
|
Overall
Result: |
PASS |
|
Overall
Score: |
80/100 |
|
Percentage
Score: |
80 |
|
Passing
Percentage: |
70 |
|
Time
Results Received: |
Aug 23,
19:47:37, 2019 |
|
Time Spent: |
00:03:40 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question 1
To reduce your risk of identity theft for 2019, you need
|
D. All of
the above. |
10 |
17.50s |
|
Question 2
You should probably modify your interview packets to incl
|
B. Will
show due diligence. |
0 |
15.19s |
|
Question 3
In 2019, anytime an ERO enters the taxpayer s PIN on the
|
C. Both A
and B above. |
0 |
13.60s |
|
Question 4
For 2019, the following is a true statement regarding pra
|
A. The
practitioner must use reasonable efforts to identify
|
10 |
40.43s |
|
Question 5
To qualify for continuing tax education credit for an enr
|
D. All of
the above. |
10 |
12.09s |
|
Question 6
With respect to any matter administered by the Internal R
|
D. None of
the above. |
10 |
17.05s |
|
Question 7
Tax advisors should provide clients with the highest qual
|
C.
Establishing the facts, determining which facts are
|
10 |
48.05s |
|
Question 8
Being convicted of any criminal offense under the revenue
|
D.
Considered disreputable conduct. |
10 |
9.05s |
|
Question 9
Subject to certain limitations, an individual who is not
|
D. Any of
the above. |
10 |
15.63s |
|
Question 10
A durable power of attorney is a power of attorney which
|
B.
Specifies that the appointment of the attorney-in-fact
|
10 |
22.23s |
|
Tracker -> 2019 Updates Final
Exam -> Transcript (Jose Jesus Zacarias)
Summary
Report
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmail.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
|
User
Identifier 5: |
1129 |
|
Quiz Title: |
2019 Updates
Final Exam |
|
Overall
Result: |
Pass |
|
Overall
Score: |
270/400 |
|
Percentage
Score: |
70 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Aug 23,
18:59:53, 2019 |
|
Time Spent: |
00:37:02 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question
Other items also affect couples which would cause a marriag
|
D. All of
the above. |
10 |
39.16s |
|
Question
Repealing of the Affordable Care Act will be done in
|
D. 2021 for
tax year 2020. |
0 |
41.69s |
|
Question
What is a modification made to the mortgage interest,
charit |
A. The
mortgage interest deduction includes mortgage debt
|
0 |
85.14s |
|
Question The
Dependent Care FSA (DCFSA) is a pre-tax benefit account
|
C. Both A
and B above. |
10 |
66.97s |
|
Question The
couple will have again resulting in a marriage bonus i
|
C. Both A
and B above. |
10 |
41.59s |
|
Question
There will be no change to the Child and Dependent Care
Cred |
C. Both A
and B above. |
10 |
27.50s |
|
Question All
efforts by Republicans to do away with the Affordable Ca
|
C. We will
still be liable for the Obamacare penalty for tax |
10 |
56.67s |
|
Question For
tax year 2018 we will no longer be able to take deductio
|
C.
Unreimbursed employee expenses along with parking and
|
10 |
30.53s |
|
Question It
may be some kind of hack which the new administration is
|
D. All of
the above. |
10 |
50.41s |
|
Question The
new tax bill had plans of eliminating or reducing educat
|
D. None of
the above. |
10 |
33.24s |
|
Question
Instead of a marriage penalty, the couple could fair better
|
B. Bonus. |
10 |
76.07s |
|
Question
Income can stilll be sheltered in a dependent care flexible
|
B. Up to
$5,000 per year per dependent. |
0 |
36.05s |
|
Question The
deduction for state and local taxes is limited to $10,00
|
B. Some
states like California with high priced homes and
|
10 |
79.62s |
|
Question A
taxpayer can completely eliminate the possibility of the m
|
A. Planning
their taxes before marriage. |
10 |
39.84s |
|
Question It
is the goal of the tax accountant to use every possible l
|
|
0 |
2.77s |
|
Question
What is a notable change to the charitable contribution
dedu |
B. You can
no longer deduct donations to a college in |
0 |
47.83s |
|
Question We
can measure the consumer price index by looking at the av
|
C. New tax
law - new way to calculate inflation. |
10 |
83.80s |
|
Question One
change in the new tax law is that |
D. All of
the above. |
10 |
51.37s |
|
Question The
house of Representatives original tax reform bill conta
|
B. Seven tax
brackets. |
10 |
28.20s |
|
Question The
way that pass-through business income is taxed is part o
|
B. In 2018,
you will be able to deduct 20% of your |
10 |
66.37s |
|
Question For
tax purposes, a couple who is married |
C. Both A
and B above. |
10 |
31.90s |
|
Question By
inflation we mean rising prices and by deflation we mean
|
D. All of
the above. |
10 |
65.97s |
|
Question The
marriage penalty is almost gone What is the marriage pe
|
D. All of
the above. |
10 |
48.82s |
|
Question The
new administration is trying to simplify the tax code by
|
B. Doubling
the standard deduction for all taxpayers. |
0 |
53.74s |
|
Question The
sheltered dependent care flexible spending account on po
|
D. Any of
the above. |
10 |
54.17s |
|
Question
Pass-through entities are businessese organized under the
ow |
D. All of
the above. |
0 |
48.34s |
|
Question The
new administration is trying to influence corporations t
|
A.
Penalizing corporations who stay abroad. |
0 |
54.42s |
|
Question The
itemized deductions such as for mortgage interest, chari
|
A. The
standard deduction for your filing status will most
|
10 |
53.25s |
|
Question
Larger families will definitely be affected by the
eliminati |
D. All of
the above. |
10 |
45.48s |
|
Question
What is taxed under capital gains? |
A. Anything
and everything you own and use for personal or |
10 |
83.40s |
|
Question
There will be a nonrefundable credit if your child is 17 or
|
B. $2,100. |
0 |
75.04s |
|
Question The
end result behind the changes to the corporate tax rates
|
B. The
United States will become more globally competitive. |
10 |
102.04s |
|
Question For
tax year 2018 we will no longer be able to take deductio
|
B. State and
local taxes. |
0 |
97.30s |
|
Question The
new administration was frantically trying to get everyth
|
A. New tax
laws have to cover an entire year- the entire 12
|
10 |
56.41s |
|
Question The
threshold for the medical expense deduction was 7 5% of
|
B. It
remains at the 10% threshold. |
0 |
48.90s |
|
Question
Many professionals such as lawyers, doctors and accountants
|
B. Hopefully
the pass-through income deduction of 20% from |
0 |
81.44s |
|
Question A U
S corporation that had to pay taxes on their profits ear
|
A. No more
corporate double taxation for foreign |
10 |
76.80s |
|
Question Why
does it matter that capital gains are held short term or
|
B.
Short-term capital gains are subject to taxation as
|
10 |
51.94s |
|
Question The
tax rates are lower with about 2% less than with the pre
|
D. 10%. |
10 |
33.71s |
|
Question
Taxpayers use tax benefits to significantly reduce their
reg |
A. There are
two tax systems in place when calculating the |
0 |
51.05s |
|
| 2019 Updates Essay |
What are the tax breaks for
parents? How do the new tax rules affect the Child Tax Credit?
What does the dependent care flexible spending account do for
parents?
INTRODUCTION
Being a parent is an expensive affair. The U.S. tax code helps
relieve the financial burden a little by offering several tax
breaks for parents, like pay for child care, college tuition,
inflation, credits for education, child care and for simply
having children.
The child tax credit (CTC) of up to $2,000 for each child under
age 17 who is a citizen. ... If the credit exceeds taxes owed,
taxpayers can receive up to $1,400 of the balance as a refund,
known as the additional child tax credit (ACTC) or refundable
CTC.
The Dependent Care Flexible Spending Account, or “FSA,” is a
pre-tax benefit account used to pay for dependent care services
while you are at work. ... For example, if both you and your
spouse work full time and you pay for after-school care for your
kids, that is an eligible "work-related" expense.
The American Opportunity tax credit is based on 100% of the
first $2,000 of qualifying college expenses and 25% of the next
$2,000, for a maximum possible credit of $2,500. For 2018, you
can claim the American Opportunity Tax Credit of up to $2,500
if: Your student is in their first four years of college.
If You claim the standard deduction or itemized deductions to
lower your taxable income. The standard deduction lowers your
income by one fixed amount. On the other hand, itemized
deductions are made up of a list of eligible expenses. You can
claim whichever lowers your tax bill the most.
What is the new way to calculate inflation?
The formula for calculating the Inflation Rate using the
Consumer Price Index (CPI). Every month the Bureau of Labor
Statistics (BLS) surveys thousands of prices all over the
country and generates the CPI or (Consumer Price Index).
IN CONCLUSION.
The new administration campaign tax plan was that the number of
tax brackets would reduce from seven to three. Similarly, the
House of Representatives’ original tax reform bill contained
four brackets. Ultimately, we are still at the seven-bracket
structure. The tax rates are lower with about 2 % less than with
the previous tax brackets but starting at 10%. |
What are the tax breaks for
parents? How do the new tax rules affect the Child Tax Credit?
What does the dependent care flexible spending account do for
parents?
INTRODUCTION
Being a parent is an expensive affair. The U.S. tax code helps
relieve the financial burden a little by offering several tax
breaks for parents, like pay for child care, college tuition,
inflation, credits for education, child care and for simply
having children.
The child tax credit (CTC) of up to $2,000 for each child under
age 17 who is a citizen. ... If the credit exceeds taxes owed,
taxpayers can receive up to $1,400 of the balance as a refund,
known as the additional child tax credit (ACTC) or refundable
CTC.
The Dependent Care Flexible Spending Account, or “FSA,” is a
pre-tax benefit account used to pay for dependent care services
while you are at work. ... For example, if both you and your
spouse work full time and you pay for after-school care for your
kids, that is an eligible "work-related" expense.
The American Opportunity tax credit is based on 100% of the
first $2,000 of qualifying college expenses and 25% of the next
$2,000, for a maximum possible credit of $2,500. For 2018, you
can claim the American Opportunity Tax Credit of up to $2,500
if: Your student is in their first four years of college.
If You claim the standard deduction or itemized deductions to
lower your taxable income. The standard deduction lowers your
income by one fixed amount. On the other hand, itemized
deductions are made up of a list of eligible expenses. You can
claim whichever lowers your tax bill the most.
What is the new way to calculate inflation?
The formula for calculating the Inflation Rate using the
Consumer Price Index (CPI). Every month the Bureau of Labor
Statistics (BLS) surveys thousands of prices all over the
country and generates the CPI or (Consumer Price Index). |
If You claim the standard
deduction or itemized deductions to lower your taxable income.
The standard deduction lowers your income by one fixed amount.
On the other hand, itemized deductions are made up of a list of
eligible expenses. You can claim whichever lowers your tax bill
the most.
What is the new way to calculate inflation?
The formula for calculating the Inflation Rate using the
Consumer Price Index (CPI). Every month the Bureau of Labor
Statistics (BLS) surveys thousands of prices all over the
country and generates the CPI or (Consumer Price Index).
|
IN CONCLUSION.
The new administration campaign tax plan was that the number of
tax brackets would reduce from seven to three. Similarly, the
House of Representatives’ original tax reform bill contained
four brackets. Ultimately, we are still at the seven-bracket
structure. The tax rates are lower with about 2 % less than with
the previous tax brackets but starting at 10%. |
IN CONCLUSION.
The new administration campaign tax plan was that the number of
tax brackets would reduce from seven to three. Similarly, the
House of Representatives’ original tax reform bill contained
four brackets. Ultimately, we are still at the seven-bracket
structure. The tax rates are lower with about 2 % less than with
the previous tax brackets but starting at 10%. |
Tracker -> 2020 Tax Law Review
Questions -> Transcript (Jose Jesus Zacarias)
Summary
Report
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmail.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
|
Quiz Title: |
2020 Tax Law
Review Questions |
|
Overall
Result: |
PASS |
|
Overall
Score: |
220/300 |
|
Percentage
Score: |
73 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Aug 21,
16:39:58, 2019 |
|
Time Spent: |
00:13:06 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question 1
The results compared to previous results give us informat
|
A. Rising
prices. |
10 |
33.35s |
|
Question 2
Practically everything you received for your work or serv
|
D. All of
the above. |
10 |
45.78s |
|
Question 3
In 2019, there are penalties for not filing a required F
|
C. Both A or
B above. |
10 |
8.74s |
|
Question 4
For 2019, Schedule B Part III is where you report a finan
|
D. Any of
the above. |
10 |
17.07s |
|
Question 5
You can try to figure out what to do about making sure th
|
C. Both A
and B above. |
10 |
65.19s |
|
Question 6
What are the types of calculation methods for claiming of
|
C. Either A
or B above. |
10 |
17.26s |
|
Question 7
Individuals always challenge the constitutionality of tax
|
C. Both A
and B above. |
10 |
11.05s |
|
Question 8
In 2019 or any tax year, you should supply the taxing age
|
D. All of
the above. |
0 |
13.23s |
|
Question 9
The Internal Revenue Service will use the 2019 tax return
|
D. All of
the above. |
10 |
12.06s |
|
Question 10
To determine if you must file a tax return for 2019, you
|
D. All
income regardless of source. |
0 |
16.82s |
|
Question 11
Even if you are not required to file a tax return for 20
|
D. Any of
the above. |
10 |
17.63s |
|
Question 12
You may be able to include your child s interest and div
|
C. No
federal income tax was withheld from your |
0 |
64.29s |
|
Question 13
You may have to file a tax return for 2019 even if your
|
D. Only A
and B above. |
10 |
31.30s |
|
Question 14
The head of household filing status has more requirement
|
A. To have
supported a home for your dependent for more than |
10 |
24.12s |
|
Question 15
If you do not itemize deductions, you are entitled to a
|
B. January
2, 1955 |
10 |
39.52s |
|
Question 16
Once you are married in 2019, you can file as |
C. Married
Filing jointly only. |
0 |
16.10s |
|
Question 17
You will most likely be obligated to file a 2019 tax ret
|
D. Any of
the above. |
10 |
64.13s |
|
Question 18
For 2019, the new tax law will now use the _______ which
|
A. Chained
CPI |
10 |
6.21s |
|
Question 19
For 2019, the new tax law treatment of alimony payments
|
C. Either A
or B above. |
10 |
42.78s |
|
Question 20
In 2019, the due diligence requirement that has always b
|
D. All of
the above. |
10 |
12.98s |
|
Question 21
If you don t show proper due diligence on how you qualif
|
A. The IRS
will impose a $520 penalty for each failure. |
10 |
16.76s |
|
Question 22
For 2018, it is important that you be aware that you can
|
B. There is
a new $500 nonrefundable credit for dependents |
10 |
24.69s |
|
Question 23
For 2019, foreigners who are individuals should apply fo
|
D. Can only
apply in person with an authorized agent. |
0 |
13.85s |
|
Question 24
If you were married on or before December 31, 2019, you
|
B. You file
your tax return as married filing separate. |
0 |
26.46s |
|
Question 25
If you were married at the end of 2019, even if you did
|
A. It is
always your legal right to file your tax return
|
10 |
16.16s |
|
Question 26
If you obtain a court decree of annulment in 2019, which
|
D. All of
the above. |
10 |
16.67s |
|
Question 27
For 2019, the following is a stipulation that determines
|
B. You are
known in the community as holding a relationship
|
10 |
25.82s |
|
Question 28
Unreimbursed employee business expenses, such as job tra
|
C. Does not
affect the office in the home deduction. |
0 |
15.87s |
|
Question 29
The kiddie tax will most likely apply until the year the
|
B. One or
both parents are alive at the end of the year. |
0 |
34.80s |
|
Question 30
Business expenses are those charges that you incur in ca
|
D. 100%
deductible. |
10 |
15.08s |
|
2018/2019 Continuing Education
 |
How Many
Hours? |
|
Assign
Score |
Exam
Score |
Completed Date |
Submission File |
Comments |
|
Tax
Updates 2018 |
3 |
|
A+ |
C |
7/19/18 |
Please
scroll down to view results |
Excellent! |
|
|
|
|
|
|
|
|
|
|
Tax Law 2018 |
10 |
|
A+ |
C |
9/23/18 |
|
Excellent! |
|
|
|
|
|
|
|
|
|
|
Tax
Ethics 2018 |
2 |
|
B |
B+ |
9/27/18 |
|
Excellent! |
|
|
|
|
|
|
|
|
|
|
California Specific 2018 |
5 |
|
B+ |
B |
10/09/18 |
|
Excellent! |
|
|
|
|
|
|
|
|
|
|
Total Hours: |
20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Print Certificate |
18043 |
|
|
|
|
|
|
IRS Notified |
10/16/18 |
|
|
Current GPA: |
|
|
|
|
CTEC Notified |
10/16/18 |
|
|
Cumulative GPA: |
|
|
|
|
Oregon |
|
|
|
Honor Roll List? |
|
|
|
|
EA |
|
|
Results 2018:
Tracker -> 2018 Federal Tax Law Final Exam ->
Transcript (Jose Jesus Zacarias)
Summary
Report
2018 Federal Tax Law Final Exam
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmai.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 5: |
1129 |
|
Quiz Title: |
2018 Federal
Tax Law Final Exam |
|
Overall
Result: |
PASS |
|
Overall
Score: |
350/500 |
|
Percentage
Score: |
70 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Oct 15,
15:07:58, 2018 |
|
Time Spent: |
00:48:52 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question For
2018, to be able to deduct 50% of your meals as a busine
|
B. Ordinary
and necessary in carrying on your trade or |
10 |
16.91s |
|
Question In
2018, if you are entitled to a lump-sum distribution from
|
B. Making a
tax-free rollover within the 90 day period. |
0 |
18.18s |
|
Question
There is a penalty for receiving an excessive claim for
refu |
D. 50
percent. |
0 |
23.63s |
|
Question For
2018, the maximum allowed depreciation expenses for pass
|
D. $100,000
limitation. |
0 |
24.84s |
|
Question
Under the new Tax Cuts and Jobs Act, a qualified 2016 disas
|
A. 10
percent. |
10 |
11.62s |
|
Question You
must keep records in 2018 to substantiate your tax retur
|
D. Any of
the above. |
10 |
12.32s |
|
Question
Under the new tax law, Starting in 2018 the qualifying
prope |
D. Any of
the above. |
10 |
15.11s |
|
Question In
2018 this end of January date was January 29, 2018 In 20
|
B.
Emancipation Day. |
10 |
12.47s |
|
Question You
can request an automatic extension of time to file a 201
|
C. Form
4868. |
10 |
294.97s |
|
Question
Starting in 2018, as it relates to listed property, each
yea |
A. The
Section 280F limitation. |
0 |
12.08s |
|
Question The
Earned Income Tax Credit remains unchanged under the new
|
B. Take into
account adjustments for information. |
10 |
17.09s |
|
Question For
2018, you would deduct a percentage of these expenses -
|
A. Standard
method. |
10 |
14.54s |
|
Question If
you are married, you can only take an additional standard
|
B. $1,600 |
0 |
33.11s |
|
Question
Estimated tax is the method used to pay Social Security and
|
B. Form
1040-ES |
10 |
82.13s |
|
Question For
2018, a report on Foreign Bank and Financial Accounts, g
|
A. Exceeds
$10,000. |
10 |
15.12s |
|
Question For
2018, there are many things you can do to keep good reco
|
D. Any of
the above. |
10 |
13.48s |
|
Question If
you are single and receive $25,000 is Social Security ben
|
D. $10,000. |
0 |
46.21s |
|
Question
Practically everything you received for your work or
service |
D. All of
the above. |
10 |
43.83s |
|
Question
Business income is any income received from the sale of
your |
C. Security
deposits and loans. |
10 |
17.75s |
|
Question In
2018, you generally must report sales and other dispositi
|
C. Form
8949. |
10 |
172.90s |
|
Question To
further illustrate, you bought 5,000 shares of XYZ Corp
|
B. You have
no qualified dividends from XYZ Corporation |
10 |
18.24s |
|
Question For
2018, a mandatory ______ withholding rate applies to eli
|
A. 10
percent. |
0 |
14.78s |
|
Question The
suspension of unreimbursed employee business deductions
|
A. The hobby
losses will be completely eliminated. |
10 |
25.97s |
|
Question For
2018, if we have $10,000 hobby income and $10,000 hobby
|
B. $10,000 |
10 |
22.15s |
|
Question For
2018, you must prove or be ready to prove that you have
|
D. All of
the above. |
10 |
20.81s |
|
Question
There are things you must consider in your ability to
deduct |
A. You will
only be able to deduct the interest on the first |
0 |
11.62s |
|
Question The
new deduction for pass-through businesses was created by
|
D. All of
the above. |
10 |
129.31s |
|
Question You
can try to figure out what to do about making sure the I
|
C. Both A
and B above. |
10 |
36.65s |
|
Question For
2018, the 529 plans have been expanded under the new Tax
|
A. This has
been known under the name 529 college savings |
10 |
24.29s |
|
Question For
2018, under the new Tax Cuts and Jobs Act, the three cap
|
C. Applied
to 20% of the total income level. |
0 |
296.83s |
|
Question For
2018, the CDCTC or child care dependent tax credit allow
|
A. If
therefore if there is no tax to cancel, there is no
|
10 |
25.91s |
|
Question For
2018, you are required to report information about asset
|
A. $50,000 |
10 |
224.67s |
|
Question The
rules for employer-operated eating facilities remain at
|
D. All of
the above. |
10 |
24.36s |
|
Question For
2018, if you are required to file an FBAR and fail to do
|
B. $10,000. |
10 |
151.26s |
|
Question For
2018, the simplified method at arriving at your deductib
|
B. $5,000. |
0 |
270.53s |
|
Question You
are allowed to contribute and deduct up to 60% of your A
|
A. $21,000 |
10 |
18.14s |
|
Question For
2018, unemployment benefits are fully taxable and the be
|
C. Form
1099-G. |
10 |
181.33s |
|
Question You
must also consider the time when you make certain expens
|
D. It would
not matter as long as the expenses are made from |
0 |
57.71s |
|
Question You
may claim on Form 8863 a Lifetime Learning credit of up
|
D. $5,000. |
0 |
136.86s |
|
Question The
highest 2018 tax rate is |
D. 39.60
percent. |
0 |
6.45s |
|
Question If
you expect your 2018 tax liability to be ________ or more
|
A. $1,000. |
10 |
8.90s |
|
Question For
2018, the personal exemption which is normally adjusted
|
B. $0 |
10 |
24.17s |
|
Question For
2018, expenses that would normally have nothing to do wi
|
B. 100
percent. |
10 |
34.25s |
|
Question You
may contribute to a dependent care FSA if you expect to
|
A. $5,000. |
0 |
22.00s |
|
Question
Starting in 2018, a taxpayer would not be allowed to claim
a |
B. Will not
incur a penalty if it does not provide a written |
10 |
27.12s |
|
Question The
older or blind individuals will continue to receive an a
|
A. $1,300
for 2018. |
10 |
51.18s |
|
Question
When a taxpayer dies, his standard deduction is what it
woul |
C. $13,300 |
10 |
55.90s |
|
Question The
Tax Cuts and Jobs Act did not make any changes to the IR
|
D. Any of
the above. |
10 |
18.21s |
|
Question For
some eligible property with longer production periods, t
|
D. Any of
the above. |
0 |
26.89s |
|
Question The
new Tax Cuts and Jobs Act expenses that are still deduct
|
C. Both A
and B above. |
10 |
40.93s |
Technical Record
|
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Source URL: |
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|
Tracker -> 2019 Federal Tax Updates -> Transcript (Jose Jesus
Zacarias)
Summary
Report
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmai.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
|
User
Identifier 5: |
1129 |
|
Quiz Title: |
2019 Federal
Tax Updates |
|
Overall
Result: |
PASS |
|
Overall
Score: |
210/300 |
|
Percentage
Score: |
70 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Oct 13,
15:21:32, 2018 |
|
Time Spent: |
00:39:04 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question The
PATH Act law states that starting January 1, 2018, bonus
|
B. On
December 22, 2017, the new tax bill went into effect
|
10 |
132.07s |
|
Question
Starting in 2018, the unreimbursed employee business
expense |
D. All of
the above. |
10 |
28.84s |
|
Question The
kiddie tax will most likely apply until the year the chi
|
D. All of
the above. |
0 |
27.26s |
|
Question The
new Tax Cuts and Jobs Act of 2017 will increase the stan
|
A. $12,000;
$24,000 |
10 |
9.17s |
|
Question The
alternative minimum tax will continue with the new Tax C
|
B. Only be
28 percent. |
10 |
139.09s |
|
Question You
can discharge your federal and private student loan debt
|
B. Will no
longer be treated as taxable income by the |
10 |
20.47s |
|
Question If
an employer reimburses an employee for a business expense
|
A. The
employee is allowed to claim a tax deduction for this |
0 |
76.51s |
|
Question The
new Tax Cuts and Job Act law has made the deduction for
|
C. It is up
to 10 percent to 60 percent. |
10 |
14.67s |
|
Question The
rules for moving expenses have changed with the new Tax
|
D. All of
the above. |
10 |
36.69s |
|
Question If
you are both the owner and the beneficiary on both accoun
|
A. The funds
rolled over from the 529 college savings |
10 |
35.18s |
|
Question If
your Adjusted Gross Income is $35,000, you can contribute
|
A. 60% of
your Adjusted Gross Income. |
10 |
32.72s |
|
Question
Colleges and universities counted on the previous tax code
t |
B. The Tax
Cuts and Job Act has repealed the rule that |
10 |
30.88s |
|
Question
Everything else very much remains the same as to the
qualifi |
A. Allows
for a $500 credit for other dependents who are |
10 |
69.00s |
|
Question The
new Tax Cut and Job Act has changed our SALT for 2018 T
|
C. Limited
to $10,000 in total starting in 2018. |
10 |
211.21s |
|
Question
Other than being at a tax bracket of 39 6% and being taxed
a |
D. All of
the above. |
10 |
48.38s |
|
Question
What is the marriage penalty? The TCJA of 2017 has lowered
t |
D. All of
the above. |
0 |
170.24s |
|
Question For
2018, the deduction for casualty and theft losses has be
|
C. Both A
and B above. |
10 |
25.47s |
|
Question
Many taxpayers are misinformed and believe that the
Affordab |
A. The ACA
continues as if there is no Tax Cuts and Jobs Act |
10 |
58.93s |
|
Question It
has always been that only new property placed in service
|
A. Allows
used property too. |
10 |
49.57s |
|
Question In
2018 and each year a passenger auto is depreciated, the d
|
A. The
section 280F limitation. |
0 |
123.45s |
|
Question
After the 2017 and 2018 tax years in which the 7 5 percent
m |
A. remain at
7.5% for at least 5 years. |
0 |
21.27s |
|
Question The
new Tax Cuts and Jobs Act (TCJA) has limitations on the
|
A. You
definitely will not be able to carryforward any of
|
0 |
43.37s |
|
Question The
premium tax credit continues and thus taxpayers who cont
|
B. Is no
intention in the code for discontinuing the premium |
10 |
26.50s |
|
Question The
taxpayer must substantiate on a contemporaneous acknowle
|
C. Both A
and B above. |
10 |
69.10s |
|
Question For
2018, the TCJA retains the historic rehabilitation tax c
|
D. All of
the above. |
10 |
50.75s |
|
Question
There are two items you must consider in your ability to
ded |
B. $750,000
of your home mortgage debt. |
10 |
15.57s |
|
Question If
the employer chooses to provide the fringe benefit affect
|
A. The
employer will be able to claim a tax deduction for
|
10 |
307.78s |
|
Question The
general rule is that a repeal of statutory language that
|
|
0 |
253.69s |
|
Question The
Tax Cuts and Jobs Act (TCJA) has repealed the Affordable
|
A. $695. |
0 |
147.35s |
|
Question
Starting in 2018, under the new tax bill, children with
ITIN |
A.
Nonrefundable. |
0 |
52.54s |
Technical Record
|
System Language: |
en-US |
|
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Win32 |
|
Screen Resolution: |
1366x768 |
|
Client IP: |
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|
Client Time: |
Sat Oct 13
2018 15:44:29 GMT-0700 (Pacific Daylight Time) |
|
Version: |
Mozilla/5.0
(Windows NT 6.3; Win64; x64) AppleWebKit/537.36 (KHTML,
like Gecko) Chrome/69. |
|
Source URL: |
https://herasincometaxschool.com/reupdatesfinal/ |
|
Tracker -> 2018 California Final Exam -> Transcript
(Jose Jesus Zacarias)
Summary Report
2018 California Final Exam
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmai.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
|
User
Identifier 5: |
1129 |
|
Quiz Title: |
2018
California Final Exam |
|
Overall
Result: |
PASS |
|
Overall
Score: |
210/250 |
|
Percentage
Score: |
84 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Oct 8,
21:17:09, 2018 |
|
Time Spent: |
00:39:09 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question
This deduction can allow you to take a deduction for up to
2 |
A.
California does not conform to the new federal deduction
|
10 |
343.90s |
|
Question The
following is a true statement about ridesharing fringe b
|
C.
California law provides income exclusions for |
10 |
130.22s |
|
Question
California conforms to the federal EITC as to the federal
la |
B. Only if
these amounts are subject to California |
10 |
77.70s |
|
Question The
new TCJA tax reform suspends all miscellaneous itemized
|
C. Both A
and B above. |
10 |
57.75s |
|
Question
Qualified bicycle commuting reimbursement exclusion has bee
|
A. Does not
conform to the suspension. |
10 |
42.19s |
|
Question On
December 22, 2017, the new tax bill went into effect incr
|
D. All of
the above. |
10 |
92.67s |
|
Question New
federal tax law limits the NOL deduction to 80 percent o
|
A. Will
permit a carryover of an NOL until January 1, 2026. |
0 |
270.68s |
|
Question
California does not conform to the federal standard
deductio |
A. The
standard deduction amounts for California are |
10 |
51.81s |
|
Question The
provision in the new Tax Cuts and Jobs Act allows studen
|
C. Both A
and B above. |
10 |
71.24s |
|
Question The
federal law changes to simplify the kiddie tax by effect
|
C.
California does not conform to the federal |
10 |
188.86s |
|
Question We
are mostly concerned with items that differ in preparing
|
A. You must
account for the difference and make the |
10 |
73.42s |
|
Question
California agrees and has been conforming to the deduction
o |
B. Does not
conform to the new federal limitation on the |
10 |
35.57s |
|
Question
There are many credits, deductions and employee fringe
benef |
D. None of
the above. |
10 |
56.97s |
|
Question The
new Tax Cut and Job Act has changed our 2018 SALT The n
|
D. None,
California does not allow a deduction for state and |
10 |
58.93s |
|
Question
Very important to remember that if both the state of
Califor |
B. There is
no need to file Schedule CA of Form 540. |
10 |
60.77s |
|
Question An
exclusion from gross income of certain military pay recei
|
D. All of
the above. |
0 |
97.26s |
|
Question
California offers tax breaks for businesses located in econ
|
D. All of
the above. |
10 |
33.12s |
|
Question Due
to the fact that the Paid Family Leave (PFL) program is
|
C. 50
percent of the wages normally paid to an employee are
|
0 |
178.83s |
|
Question The
new Tax Cuts and Job Act law has made the deduction for
|
B. Continues
to be 50%. |
10 |
85.58s |
|
Question The
following type of eligible medical expenses will change
|
D. None of
the above will differ. |
10 |
31.92s |
|
Question The
threshold percentage of unreimbursed medical expenses is
|
D. Continue
to remain the same for both. |
0 |
59.41s |
|
Question
Upon filing a California domestic partnership with the
state |
A. With this
ruling, individuals of the same sex can now |
10 |
52.14s |
|
Question The
annual contribution is adjusted for inflation as are mos
|
B. $14,000
because California does not conform to the |
10 |
36.31s |
|
Question
Talking about students and the tax benefits of being a
stude |
A. Reverse
it for California tax purposes by entering the |
10 |
32.75s |
|
Question You
should consider tax planning as part of your tax filing
|
B. Tax
planning strategies. |
10 |
117.17s |
Technical Record
|
System Language: |
en-US |
|
Operating System: |
Win32 |
|
Screen Resolution: |
1366x768 |
|
Client IP: |
72.197.84.17 |
|
Client Time: |
Mon Oct 08
2018 21:39:54 GMT-0700 (Pacific Daylight Time) |
|
Version: |
Mozilla/5.0
(Windows NT 6.3; Win64; x64) AppleWebKit/537.36 (KHTML,
like Gecko) Chrome/69. |
|
Source URL: |
https://herasincometaxschool.com/recaliforniafinal/ |
|
Tracker -> 2019 California Review Questions ->
Transcript (Jose Jesus Zacarias)
Summary Report
2019 California Review Questions
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmai.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
|
User
Identifier 5: |
1129 |
|
Quiz Title: |
2019
California Review Questions |
|
Overall
Result: |
PASS |
|
Overall
Score: |
130/150 |
|
Percentage
Score: |
87 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Oct 8,
20:13:43, 2018 |
|
Time Spent: |
00:24:25 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question 1
The TCJA tax reform amended section 11(3) to provide a pe
|
B. We will
continue to use the same California Consumer |
10 |
24.03s |
|
Question 2
One of the tax planning strategies is about knowing how n
|
D. All of
the above. |
0 |
55.55s |
|
Question 3
As with married couples, things happen in the relationshi
|
D. All of
the above. |
10 |
71.88s |
|
Question 4
Moving expenses have been suspended by the TCJA for tax y
|
C.
California will continue to allow moving expenses at the
|
10 |
171.37s |
|
Question 5
California taxes the interest received from bonds that ar
|
A. Look
forward to paying the tax on the interest earned
|
10 |
82.03s |
|
Question 6
The new Tax Cuts and Job Act has also revised the depreci
|
A.
California does not conform to the TCJA provisions for
|
0 |
57.77s |
|
Question 7
All depreciation methods used must be acceptable to Calif
|
B. Adjust
your depreciation and the useful life of the |
10 |
36.74s |
|
Question 8
California mainly conforms to the federal tax law, except
|
D. Any of
the above. |
10 |
99.53s |
|
Question 9
The new Tax Cuts and Jobs Act of 2017 also brought change
|
C.
California wants to keep to the original plan to help
|
10 |
48.34s |
|
Question 10
In order to motivate companies to make treatment drugs t
|
C. No
comparable credit but the expenses can be repurposed. |
10 |
181.57s |
|
Question 11
There are benefits offered by investing in a Roth IRA wh
|
C.
California conforms to federal tax law on contributions,
|
10 |
141.23s |
|
Question 12
You must be able to identity what constitutes unemployme
|
A. As far as
California is concerned, unemployment is not |
10 |
196.46s |
|
Question 13
Now the federal IRC has due diligence requirements for q
|
D. None,
California conforms to the due diligence |
10 |
64.33s |
|
Question 14
The nonrefundable renter s credit, as with the other cre
|
B. A
California Renter's Credit Qualification
|
10 |
171.47s |
|
Question 15
If you didn t itemize deductions on your federal tax ret
|
D. None of
the above. |
10 |
44.20s |
Technical Record
|
System Language: |
en-US |
|
Operating System: |
Win32 |
|
Screen Resolution: |
1366x768 |
|
Client IP: |
72.197.84.17 |
|
Client Time: |
Mon Oct 08
2018 20:46:17 GMT-0700 (Pacific Daylight Time) |
|
Version: |
Mozilla/5.0
(Windows NT 6.3; Win64; x64) AppleWebKit/537.36 (KHTML,
like Gecko) Chrome/69. |
|
Source URL: |
https://herasincometaxschool.com/18californiareview/ |
|
Tracker -> 2019 Ethics Review Questions ->
Transcript (Jose Jesus Zacarias)
Summary Report
2019 Ethics Review Questions
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmai.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
|
User
Identifier 5: |
1129 |
|
Quiz Title: |
2019 Ethics
Review Questions |
|
Overall
Result: |
PASS |
|
Overall
Score: |
80/100 |
|
Percentage
Score: |
80 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Oct 9,
12:15:08, 2018 |
|
Time Spent: |
00:09:42 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question 1
To reduce your risk of identity theft for 2018, you need
|
D. All of
the above. |
10 |
31.32s |
|
Question 2
You should probably modify your interview packets to incl
|
B. Will
show due diligence. |
0 |
109.90s |
|
Question 3
In 2018, anytime an ERO enters the taxpayer s PIN on the
|
C. Both A
and B above. |
0 |
37.01s |
|
Question 4
For 2018, the following is a true statement regarding pra
|
A. The
practitioner must use reasonable efforts to identify
|
10 |
117.80s |
|
Question 5
To qualify for continuing tax education credit for an enr
|
D. All of
the above. |
10 |
30.64s |
|
Question 6
With respect to any matter administered by the Internal R
|
D. None of
the above. |
10 |
22.54s |
|
Question 7
Tax advisors should provide clients with the highest qual
|
C.
Establishing the facts, determining which facts are
|
10 |
78.10s |
|
Question 8
Being convicted of any criminal offense under the revenue
|
D.
Considered disreputable conduct. |
10 |
38.14s |
|
Question 9
Subject to certain limitations, an individual who is not
|
D. Any of
the above. |
10 |
29.53s |
|
Question 10
A durable power of attorney is a power of attorney which
|
B. Specifies
that the appointment of the attorney-in-fact |
10 |
79.17s |
Technical Record
|
System Language: |
en-US |
|
Operating System: |
Win32 |
|
Screen Resolution: |
1366x768 |
|
Client IP: |
72.197.84.17 |
|
Client Time: |
Tue Oct 09
2018 13:05:21 GMT-0700 (Pacific Daylight Time) |
|
Version: |
Mozilla/5.0
(Windows NT 6.3; Win64; x64) AppleWebKit/537.36 (KHTML,
like Gecko) Chrome/69. |
|
Source URL: |
https://herasincometaxschool.com/18ethicsreview/ |
|
Tracker -> 2019 Tax Ethics Final -> Transcript
(Jose Jesus Zacarias)
Summary
Report
|
Candidate: |
Jose Jesus
Zacarias |
|
User
Identifier 2: |
zactour@hotmai.com |
|
User
Identifier 3: |
A151010 |
|
User
Identifier 4: |
POO616251 |
|
User
Identifier 5: |
1129 |
|
Quiz Title: |
2019 Tax
Ethics Final |
|
Overall
Result: |
PASS |
|
Overall
Score: |
170/200 |
|
Percentage
Score: |
85 |
|
Passing
Percentage: |
70 |
|
Time Results
Received: |
Sep 27,
20:43:57, 2018 |
|
Time Spent: |
00:20:53 |
Question Breakdown
|
Question
Reference |
Answer |
Score |
Time |
|
Question The
IRS can only allow so much abuse and may start sending L
|
A. $520 for
each missing form. |
10 |
22.48s |
|
Question You
must go into your PTIN account and sign the ____________
|
C. Form
8453. |
0 |
129.04s |
|
Question
Your client may need to file Form 8862 in 2018 and may be
ba |
A. Next 10
years. |
10 |
29.22s |
|
Question The
taxpayer who is issued an ITIN is usually not eligible t
|
A. These
people are usually not eligible for an SSN. |
10 |
26.61s |
|
Question You
need to answer the questions covering EITC eligibility o
|
C. Form 8867 |
10 |
55.93s |
|
Question You
as a tax professional are defined under the FTC as a fin
|
D. All of
the above. |
10 |
45.53s |
|
Question
Under IRC section 6692(g), the new tax law Tax Cuts and
Jobs |
B. $520 for
each failure. |
10 |
54.02s |
|
Question The
ERO may use ___________ as authority to input the taxpa
|
B.
Pre-signed authorizations |
10 |
51.71s |
|
Question A
few things to consider, even the most basic of things abou
|
D. All of
the above. |
10 |
72.75s |
|
Question The
director of the Office of Professional Responsibility mu
|
A. 30 days |
10 |
17.47s |
|
Question A
________ may be imposed, per I R C §6695(f), on a return
|
D. $10,000
penalty. |
0 |
292.36s |
|
Question If
you prepared a tax return two years ago when you were par
|
A. At every
stage of the tax returns you prepare to be able
|
10 |
62.95s |
|
Question
Providers must never put their address in fields reserved
fo |
B.
Pre-signed authorizations |
0 |
74.83s |
|
Question A
preparer that is also a financial institution, but has not
|
D. Any of
the above. |
10 |
75.95s |
|
Question
Starting in 2018, you can represent taxpayers if you are
|
D. Any of
the above. |
10 |
29.67s |
|
Question The
new thing this time around is that an individual applyin
|
B. Form W-7 |
10 |
58.92s |
|
Question An
examining officer, or other Service officer or employee w
|
B. The
District Director of the taxpayer. |
10 |
33.26s |
|
Question For
2018, you must complete and submit _________ for all pap
|
A. Form
8867. |
10 |
59.75s |
|
Question The
IRS has identified ___________ as a key indicator of pot
|
A.
Questionable Forms W-2 |
10 |
30.41s |
|
Question Tax
preparation is your profession and you should always fol
|
D. Any of
the above. |
10 |
17.11s |
Technical Record
|
System Language: |
en-US |
|
Operating System: |
Win32 |
|
Screen Resolution: |
1366x768 |
|
Client IP: |
72.197.84.17 |
|
Client Time: |
Thu Sep 27
2018 21:24:38 GMT-0700 (Pacific Daylight Time) |
|
Version: |
Mozilla/5.0
(Windows NT 6.3; Win64; x64) AppleWebKit/537.36 (KHTML,
like Gecko) Chrome/69. |
|
Source URL: |
https://herasincometaxschool.com/reethicsfinal/ |
|
|
Tax Law" has a new submission |
Here are the details of the
submission:
- Student Name:
Jose Jesus Zacarias
- Email:
zactour@hotmail.com
- CTEC Number:
A151010
- 1. The results compared to
previous results give us information about our economy –
inflation or deflation. This tells us if the economy is good in
2018 or if it is not doing so well. By inflation we mean
D. Chained CPI.
- 2. Practically everything you
received for your work or services is taxable. This applies to
2018 or any tax year. Additionally,
D. All of the above.
- 3. In 2018, there are
penalties for not filing a required FBAR. Regardless of whether
you must file a FBAR, you may have to
C. Both A or B above.
- 4. For 2018, Schedule B Part
III is where you report a financial interest or signature
authority over a financial account located in a foreign country.
A financial account includes
D. Any of the above.
- 5. You can try to figure out
what to do about making sure the IRS does not treat your
business as a hobby and this includes diligently running your
business as a business and not as a hobby and this especially
important after tax year 2018. Another thing to look into is the
IRS safe-harbor rules. These rules state that
C. Both A and B above.
- 6. What are the types of
calculation methods for claiming office in the home for 2018?
C. Either A or B above.
- 7. Individuals always
challenge the constitutionality of taxation. An instance when
the challenge of tax laws was successful was
C. Both A and B above.
- 8. In 2018 or any tax year,
you should supply the taxing agencies with
B. The most correct information requested on the tax forms and
worksheets.
- 9. The Internal Revenue
Service will use the 2018 tax return information you supply
D. All of the above.
- 10. To determine if you must
file a tax return for 2018, you must include in your gross
income,
D. All income regardless of source.
- 11. Even if you are not
required to file a tax return for 2018, you should consider
filing
D. Any of the above.
- 12. You may be able to
include your child's interest and dividend income on your 2018
tax return if
D. Any of the above.
- 13. You may have to file a
tax return for 2018 even if your gross income is less than the
required amounts if you
D. Only A and B above.
- 14. The head of household
filing status has more requirements to be met than the other
filing statuses. One of these requirements for 2018 is
A. To have supported a home for your dependent for more than
half the cost of maintaining the home.
- 15 If you do not itemize
deductions, you are entitled to a higher standard deduction if
you are 65 or older at the end of the tax year. For 2018, you
are considered 65 on the day before your 65th birthday.
Therefore, you can take a higher standard deduction for 2018 if
you were born before
B. January 2, 1954
- 16. Once you are married in
2018, you can file as
B. Married Filing Separately.
- 17. You will most likely be
obligated to file a 2018 tax return if
D. Any of the above.
- 18. For 2018, the new tax law
will now use the _______ which grows slower than the traditional
consumer price index.
A. Chained CPI
- 19. For 2018, the new tax law
treatment of alimony payments will apply to payments that are
required under divorce or separation instruments that are
C. Either A or B above.
- 20. In 2018, the due
diligence requirement that has always been in place for the
Earned income credit is also now available for
A. The head of household filing status.
- 21. If you don't show proper
due diligence on how you qualified your client for the head of
household filing status for 2018,
A. The IRS will impose a $520 penalty for each failure.
- 22. For 2018, it is important
that you be aware that you cannot claim the earned income credit
using an ITIN, except that
B. There is a new $500 nonrefundable credit for dependents with
an ITIN.
- 23. For 2018, foreigners who
are individuals should apply for an Individual Taxpayer
Identification Number (ITIN) on Form W-7. Each applicant for an
ITIN
A. Should attach a copy of Form 1040 to Form W-7.
- 24. If you were married on or
before December 31, 2018, you can either be Married filing
jointly or Married Filing separate for tax year 2018. However,
you can probably qualify for Head of Household filing status if
C. You can be considered unmarried for 2018.
- 25. If you were married at
the end of 2018, even if you did not live with your spouse at
the end of 2018 you can use the Married Filing Jointly filing
status. However, you don't have to. In addition,
A. It is always your legal right to file your tax return
separately.
- 26. If you obtain a court
decree of annulment in 2018, which holds that no valid marriage
ever existed, you
D. All of the above.
- 27. For 2018, the following
is a stipulation that determines if you are indeed in a common
law marriage.
B. You are known in the community as holding a relationship as a
married couple.
- 28. Unreimbursed employee
business expenses, such as job travel, union dues, job
education, et al, is suspended starting with tax year 2018. The
suspension of this deduction
C. Does not affect the office in the home deduction.
- 29. The kiddie tax will most
likely apply until the year the child reaches age 24. The 2018
requirement for the kiddie tax is
D. All of the above.
- 30. Business expenses are
those charges that you incur in carrying on your trade or
business. If your business operates to make a profit in 2018,
these expenses are usually
D. 100% deductible.
|
|
"Tax Law" has a new submission |
Here are the details of the
submission:
- Student Name:
Jose Jesus Zacarias
- Email:
zactour@hotmail.com
- CTEC Number:
A151010
- 1. The results compared to
previous results give us information about our economy –
inflation or deflation. This tells us if the economy is good in
2018 or if it is not doing so well. By inflation we mean
A. Rising prices.
- 2. Practically everything you
received for your work or services is taxable. This applies to
2018 or any tax year. Additionally,
D. All of the above.
- 3. In 2018, there are
penalties for not filing a required FBAR. Regardless of whether
you must file a FBAR, you may have to
C. Both A or B above.
- 4. For 2018, Schedule B Part
III is where you report a financial interest or signature
authority over a financial account located in a foreign country.
A financial account includes
D. Any of the above.
- 5. You can try to figure out
what to do about making sure the IRS does not treat your
business as a hobby and this includes diligently running your
business as a business and not as a hobby and this especially
important after tax year 2018. Another thing to look into is the
IRS safe-harbor rules. These rules state that
D. You must conduct the activity in a business-like manner by
keeping good records.
- 6. What are the types of
calculation methods for claiming office in the home for 2018?
C. Either A or B above.
- 7. Individuals always
challenge the constitutionality of taxation. An instance when
the challenge of tax laws was successful was
C. Both A and B above.
- 8. In 2018 or any tax year,
you should supply the taxing agencies with
D. All of the above.
- 9. The Internal Revenue
Service will use the 2018 tax return information you supply
D. All of the above.
- 10. To determine if you must
file a tax return for 2018, you must include in your gross
income,
D. All income regardless of source.
- 11. Even if you are not
required to file a tax return for 2018, you should consider
filing
D. Any of the above.
- 12. You may be able to
include your child's interest and dividend income on your 2018
tax return if
D. Any of the above.
- 13. You may have to file a
tax return for 2018 even if your gross income is less than the
required amounts if you
D. Only A and B above.
- 14. The head of household
filing status has more requirements to be met than the other
filing statuses. One of these requirements for 2018 is
A. To have supported a home for your dependent for more than
half the cost of maintaining the home.
- 15 If you do not itemize
deductions, you are entitled to a higher standard deduction if
you are 65 or older at the end of the tax year. For 2018, you
are considered 65 on the day before your 65th birthday.
Therefore, you can take a higher standard deduction for 2018 if
you were born before
B. January 2, 1954
- 16. Once you are married in
2018, you can file as
C. Married Filing jointly only.
- 17. You will most likely be
obligated to file a 2018 tax return if
D. Any of the above.
- 18. For 2018, the new tax law
will now use the _______ which grows slower than the traditional
consumer price index.
A. Chained CPI
- 19. For 2018, the new tax law
treatment of alimony payments will apply to payments that are
required under divorce or separation instruments that are
C. Either A or B above.
- 20. In 2018, the due
diligence requirement that has always been in place for the
Earned income credit is also now available for
D. All of the above.
- 21. If you don't show proper
due diligence on how you qualified your client for the head of
household filing status for 2018,
A. The IRS will impose a $520 penalty for each failure.
- 22. For 2018, it is important
that you be aware that you cannot claim the earned income credit
using an ITIN, except that
B. There is a new $500 nonrefundable credit for dependents with
an ITIN.
- 23. For 2018, foreigners who
are individuals should apply for an Individual Taxpayer
Identification Number (ITIN) on Form W-7. Each applicant for an
ITIN
B. No longer needs to attach a copy of your tax return when
submitting your Form W-7.
- 24. If you were married on or
before December 31, 2018, you can either be Married filing
jointly or Married Filing separate for tax year 2018. However,
you can probably qualify for Head of Household filing status if
B. You file your tax return as married filing separate.
- 25. If you were married at
the end of 2018, even if you did not live with your spouse at
the end of 2018 you can use the Married Filing Jointly filing
status. However, you don't have to. In addition,
A. It is always your legal right to file your tax return
separately.
- 26. If you obtain a court
decree of annulment in 2018, which holds that no valid marriage
ever existed, you
D. All of the above.
- 27. For 2018, the following
is a stipulation that determines if you are indeed in a common
law marriage.
B. You are known in the community as holding a relationship as a
married couple.
- 28. Unreimbursed employee
business expenses, such as job travel, union dues, job
education, et al, is suspended starting with tax year 2018. The
suspension of this deduction
A. Affects the deduction of hobby expenses.
- 29. The kiddie tax will most
likely apply until the year the child reaches age 24. The 2018
requirement for the kiddie tax is
D. All of the above.
- 30. Business expenses are
those charges that you incur in carrying on your trade or
business. If your business operates to make a profit in 2018,
these expenses are usually
D. 100% deductible.
|
2018 Updates Essay:
Introduction;
The new administration proposed the following;
Tax Breaks for parents
Larger families will definitely be affected by the elimination of
the personal exemption.
The good news is that larger families will dramatically benefit
from the expanded Child Tax Credit
This Child Tax Credit will be doubled to $2,000 from the $1,000
amount that has been static for years
Itemized Deductions
You take the larger of the two deductions, your standard
deduction or your itemized deductions.
For the itemized deductions you must list and have backup proof
For most probably will not be worth your time calculating .
Calculation of Inflation
The new tax law will now use the Chained CPI
It grows slower than the traditional consumer price index.
It is assumed that consumers will select other cheaper products
and thus use a cheaper alternative.
|
Tax Breaks for parents
Larger families will definitely be affected by the elimination of
the personal exemption. The good news is that larger families
will dramatically benefit from the expanded Child Tax Credit
available for each child who is under age 17. This Child Tax
Credit will be doubled to $2,000 from the $1,000 amount that has
been static for years. The best part for many is that the Child
Tax Credit or part of it will be a refundable credit. Sadly, only
up to $1,400 of it will be a refundable credit and the rest will
be non-refundable which will count against any tax due. The
phaseout threshold for the credit will be increase tremendously
as shown in the following table:
Luckily there is no change to the Child and Dependent Care
Credit. Individuals who qualify are allowed a credit of as much
as $1,050 for one child under 13 or $2,100 for two children under
13.
Additionally, there is a nonrefundable credit of $500 if your
child is 17 or older or if you take care of elderly relatives and
this is subject to the same income thresholds as shown in the
above chart
|
Itemized Deductions
You take the larger of the two deductions – your standard
deduction or your itemized deductions. You don’t have to, but you
will most likely the bigger of the two. Why? Because you will
most likely get a higher tax benefit if you take the larger of
the two.. So the itemized deductions such as for the mortgage
interest, charitable contributions, medical expenses and the
deduction for state and local taxes which you must list and have
backup proof for are most probably will not be worth your time
calculating.The standard deduction for your filing status already
allowed will most probably be large than the itemized deduction
figure. For example, your standard deduction for married filing
jointly is $24,000.
|
Calculation of Inflation
The new tax law will now use the Chained CPI which grows slower
than the traditional consumer price index. The Chained CPI use
the same common household goods but if the particular goods or
services get to expensive, it is assumed that consumers will
select other cheaper products and thus use a cheaper alternative.
The Chained CPI as a means to calculate inflation is supposed to
be one of the positive items in the new tax law changes. What
that means to individuals is that the income thresholds for each
marginal tax bracket will rise more slowly than in previous
years. Or is it? At first maybe, but this will not be so in later
years. The new way will make a greater portion of each worker’s
income subject to higher marginal tax rates in the long run. This
could turn out to be disastrous for the middle class as it is
expected to result in higher taxes.
|
In Conclusion; All This is for
2018 Taxes Filed in 2019
Every tax law has to cover an entire year – the entire 12 months.
Therefore tax changes have to be in place on January 1, 2018 to
apply to 2018 tax year. That means that we will be doing 2018 tax
returns which are due by April 15, 2019. In essence there are
minor changes to 2017 tax year taxes that are due to be filed by
April 2018.. However, employers, the companies, corporations and
other agencies have to worry about applying the new tax law all
throughout 2018. We are in a pay-as –you go tax system which
means that we apply rules gradually at every stage of the
process.
|
2018 Continuing Tax
Education Courses
20
Hour Tax Course 2017 -
20 Hour California Continuing Tax Education
|
Tax Professional Registration
(Upon completion, please go to ctec.org to pay CTEC fees) |
|
|
|
Registration Status:
Registration Type: CE
Education
 |
State Hours |
Ethics Hours |
Updates Hours |
Tax Law Hours |
|
Category
Assign. Score |
|
Completed Date |
Submission File |
Comments |
|
Category
Final Exam
Score |
|
Completed Date |
Submission File |
Comments |
|
Tax Updates 2017
|
|
|
3 |
|
|
A- |
92% |
4-28-2016 |
Results |
Super! |
|
missing |
|
|
|
|
|
Tax Law |
|
|
|
10 |
|
B |
74% |
9-21-2016 |
Results |
Great! |
|
|
|
151010r16lawfin |
|
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|
Tax Ethics |
|
2 |
|
|
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|
151010r16ethicsrev |
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|
151010r16ethicsfin |
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California Specific |
5 |
|
|
|
|
missing |
|
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|
|
missing |
|
|
|
|
|
Overall Final Exam |
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|
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|
missing |
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|
|
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|
|
|
|
|
|
|
|
|
5 |
2 |
3 |
10 |
|
|
|
|
|
|
|
|
|
|
Print Certificate |
|
|
|
|
|
Total Hours: |
20 |
|
|
|
|
|
|
|
|
|
IRS Notified |
|
|
|
Current GPA: |
|
|
|
|
|
|
|
|
|
|
|
|
|
CTEC Notified |
|
|
|
Cumulative GPA: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Oregon |
NA |
|
|
Honor Roll List? |
|
|
|
|
|
|
|
|
|
|
|
|
|
EA |
NA |
|
|
20
Hour Tax Course 2015:
Click on the following to complete this course:
2014 Tax
Education:
2013 Tax Education:
|
Tax Topic Name |
Federal
tax
Law |
Tax Updates
Hours |
Tax Ethics
Hours |
State Hrs |
Total Hrs |
Assign. Score |
Comp Date |
Quiz Score |
Comp Date |
File |
File |
Comments |
|
Subject T1 - Intro to Tax |
3 |
|
|
|
|
78% |
8-14-2013 |
72% |
8-15-2013 |
Results |
Results |
Excellent! |
|
Subject T2 - Filing Basics |
3 |
|
|
|
|
86% |
8-21-2013 |
75% |
9-17-2013 |
Results |
Results |
Super! |
|
Subject T3 - Taxable & |
4 |
|
|
|
|
80% |
9-06-2013 |
72% |
11-08-2013 |
Results |
Results |
Excellent! |
|
Subject T4 - Tax Updates |
|
3 |
|
|
|
83% |
9-25-2013 |
76% |
9-25-2013 |
Results |
Results |
Excellent! |
|
Subject T5 - Proper Ethics |
|
|
2 |
|
|
70% |
11-12-2013 |
80% |
9-30-2013 |
Results |
Results |
Excellent! |
|
Subject T6 - CA |
|
|
|
5 |
|
72% |
11-21-2013 |
80% |
9-30-2013 |
Results |
Results |
Excellent! |
|
Final |
|
|
|
|
|
x |
|
70% |
11-12-2013 |
Results |
|
Good! |
|
Certificate Request |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Hours: |
10 |
3 |
2 |
5 |
20 |
|
|
|
|
Certificate Link |
Certificate |
13252 |
|
|
|
|
|
|
|
|
|
|
|
IRS Notified |
11-12-2013 |
107402439830 |
|
Current GPA: |
|
|
|
|
|
|
|
|
|
CTEC Notified |
11-12-2013 |
|
|
Cumulative GPA: |
|
|
|
|
|
|
|
|
|
Oregon |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
EA |
NA |
|
2012 Tax Education:
|
Tax Topic Name |
Federal
tax
Law |
Tax Updates
Hours |
Tax Ethics
Hours |
State Hrs |
Total Hrs |
Assign. Score |
Comp Date |
Quiz Score |
Comp Date |
File |
File |
Comments |
|
Segment 1- Tax Law |
10 |
|
|
|
|
72% |
10-31-2012 |
Missing |
|
Results |
|
Missing quiz |
|
Segment 2 - Updates |
|
3 |
|
|
|
70% |
11-02-2012 |
83% |
11-02-2012 |
Rslts / Rslts |
Results |
|
|
Segment 3 - Ethics |
|
|
2 |
|
|
76% |
11-02-2012 |
90% |
09-20-2012 |
Rslts / Rslts |
Results |
|
|
Segment 4 - CA |
|
|
|
5 |
|
73% |
09-29-2012 |
66% |
too low |
Results |
|
Missing CA quiz |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Hours: |
10 |
3 |
2 |
5 |
20 |
|
|
|
|
Certificate Link |
|
|
|
|
|
|
|
|
|
|
|
|
|
IRS Notified |
|
|
|
Current GPA: |
|
|
|
|
|
|
|
|
|
CTEC Notified |
|
|
|
Cumulative GPA: |
|
|
|
|
|
|
|
|
|
Oregon |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
EA |
NA |
|
2011 Tax Education:
|
Tax Course
Name |
Federal
tax
Law |
Tax Updates
Hours |
Tax Ethics
Hours |
State Hrs |
Total Hrs |
Score |
Comp Date |
File |
File |
Comments |
|
|
|
|
|
|
|
|
|
Results |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total: |
10 |
3 |
2 |
5 |
20 |
75% |
12-30-2011 |
Certificate Link |
Certificate |
Excellent! |
|
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IRS Notified |
NA |
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CTEC Notified |
12-30-2011 |
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Oregon |
NA |
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Cumulative |
GPA: |
75% |
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EA |
NA |
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