Tax Research Project Essay

The taxpayer, Susan, suffers from severe osteoarthritis in both knees and has a hard time living comfortably. Susan has taken many precautions to better her health including: cortisone injections, painkillers, physical therapy, and arthroscopic surgery. Being that this is a hereditary disease, the doctors predict that it’s only going to get worse. The key to alleviate the pain is to keep moving, thus it is extremely painful for Susan to remain active. Swimming maintains good cardio with little to no impact; therefore her doctor prescribed her to swim daily. She is hesitant to go to the city pool

Parent Corporation owns 85% of the common stock and 100% of the preferred stock of Subsidiary Corporation. The common stock and preferred stock have adjusted bases of $500,000 and $200,000, respectively, to Parent. Subsidiary adopts a plan of liquidation on July 3 of the current year, when its assets have a $1 million FMV. Liabilities on that date amount to $850,000. On November 9, Subsidiary pays off its creditors and distributes $150,000 to Parent with respect to its preferred stock. No cash remain to be aid to Parent with respect to the remaining $50,000 of its liquidation preference for the preferred stock, or with respect to any common stock. In each of Subsidiary’s tax years, less than %10 of its gross

AmeriSouth argued that cost-segregation study allocates $65,381 of Garden House's depreciable basis to “site preparation and earthwork,” depreciable over 15 years as a land improvement is allowable because it is a “site development,” but nowhere does it describe what work is included in this category. On the other hand, the Commissioner's expert claims that work papers show the expenses relate to the initial clearing and grubbing (i.e., tree removal) of the land which occurred before the apartments' construction in 1970.

Kontosis is a retired physical education teacher who was employed with the Prince George’s County Public School System. During her employment, Hartford underwrote three group disability insurance policies for Kontosis: Policy No. GLT-675844 (the “group policy”), Policy No. AGP-5630 (the “association policy”), and Policy No. AGP-5295 (the “second association policy”). Although all three policies were underwritten by Hartford, Hartford operated each policy independently of the other in accordance with the respective terms of each. The group policy provided for a maximum benefit of sixty percent of the policyholder’s monthly pre-disability earnings up to a maximum of $5,000.00 per month, and a minimum benefit of the greater of $100 or 10%

Speech – Language Pathology (SLP) Services. Medicare will cover up to $1,980 after you have paid your $183 Medicare deductible. Medicare will pay up to 80% of the approved amount while your secondary will pay the rest (for most members that is GHI). Keep in mind that the $1,980 (known as the therapy cap) covers both Physical Therapy and SLP. So, if you use the entire amount for SLP, then you will have nothing left for Physical Therapy.

HSAs are to be used in conjunction with a high-deductible health plan, which in the current plan year is defined as a medial plan with a minimum annual deductible of $1300 for self-only and $2600 for family coverage (wherein "family" consists of any combination of

24 Deductible benefits. Enter the smallest of line 20, 21, or 22. Also, include this amount on

My mother’s company went with a high-deductible health care plan and they raised her deductible to 4,000.00 a year. With that she has to pay 100% of our doctor’s bills and health care cost until she meets it. She is a diabetic so that means that it is getting very expensive to control with the

The costs of services are part of the insured persons they have to pay a standard deduction of 300.00 per year (children and teens are exempt), and when you hit your deduction you have to pay a retention fee of 10% or a minimum of 700.00 per year, and children and teens spend 350.00. There is a hospital stay that is 15.00 per day and children,

Part A (Hospital Insurance program) covers inpatient hospital stays, home health service, and skilled nursing facility. In addition to this, Medicare pays for 100 days of care in Medicare-certified skilled nursing facilities as well as for the patients staying in Medicare certified hospice. Some people do not pay any premium for part A due to the taxes paid by them or their spouse during their working years. Moreover, contribution comes to Medicare through payroll taxes paid by individuals which make them eligible for the benefits. In order to become eligible for this premium free Part A program, individuals or their spouse must have forty credits after working at least 10 years. However, people, who do not have forty credits, will pay a monthly

IRC Section 213(d)(1) states that “‘medical care’ means amounts paid for the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body” (IRC Section 213(d)(1)(A)). Treas. Reg. Section 1.213-1(e)(1)(ii) goes on to say, “amounts paid for operations or treatments affecting any portion of the body... (are) paid for medical care…Deductions for expenditures for medical care allowable under section 213 will be confined strictly to expenses incurred primarily for the prevention or alleviation of a physical or mental defect or illness.” Treas. Reg. Section 1.213-1(e)(1)(iii) states that “a capital expenditure made by the taxpayer may qualify as a medical expense, if it has as its primary purpose the medical care of the taxpayer…A capital expenditure for permanent improvement or betterment of property which would not ordinarily be for the purpose of medical care…may, nevertheless, qualify as a medical expense to the extent that the expenditure exceeds the increase in the value of the related property, if the particular expenditure is related directly to medical care.” In Haines v. Commissioner (1979), Haines fractured his leg while skiing, reducing his ability to walk. Between surgeries his doctor recommended to exercise the leg with physical therapy which included whirlpool treatment, massage, and active and passive exercise. He used friends’ swimming pools before he built his own, and realized that swimming helped his leg. When filing taxes that year, he deducted $13,149.28 of the $19,732.92 of his new swimming pool. The court ruled that for the expenses to be deductible for medical care, they had to be “primarily for” the prevention or alleviation of the illness and “related directly to”

2. It is payable from 01/13/2016 to 04/19/2016 at $792.07 temporary total disability, reimburse employer;

Because the deck has to be built around the hot tub, this type of installation can cost a lot more than on deck installation. In ground hot tubs need to be installed by an experienced professional to avoid damaging the equipment or creating potential damage to the deck itself. They also tend to cost more to operate and maintain due to increased power consumption and fewer cover options.

Insurance (general liability, workers' compensation and property casualty) coverage at a total premium of $2,400.

One doubt that I have is the health and safety requirements. They excluded provision and compensation for respiratory