Supposed CCS was formed with Nicole Johnson, Sarah Walker, and Chanzz Inc., a legal corporation owned by Chance Armstrong, as shareholders. Chance Armstrong is a U.S. resident but a French citizen. His mother has recently been diagnosed with a terminal illness, and Chance has decided to move back to France to take care of his mother and her affairs. He anticipates that he will live in France for several years and that he will no longer be considered a U.S. resident. Questions to consider include the following: If you were Sarah or Nicole, how would you react to Chance’s decision to move? Would you ignore the impact it may have on CCS’s S Corporation status? Would you pressure Chance to sell his CC stock to you? What are the consequences if Sarah and Nicole ignore the impact on CCS's S corporation status? Would this action violate tax law? Would this action violate ethical standards?

(6).

Aubrey owns an office supply store. She borrowed $100,000 from U.S. Bank ("USB") and executed a security agreement granting a security interest in "all of my presently- owned and after-acquired inventory" to USB. USB properly filed a financing statement to perfect its interest. Without notifying USB, Aubrey sold a computer from her inventory to Nissa for use in her home. Does USB have priority over Nissa with respect to the computer purchased by Nissa? Explain. S S D wwww...

Tom Brown is 36 years old and has never been married. Frank, age 13, is Tom1s nephew who lived with hin all year. Tom provided all of his support and provifded over half the cost of keeping up the home. Tom earned 44,000 in wages Tom is legally blind and cannot be claiment as a dependent by another taxpayer. Tom and Frank are U.S citizens, have valid social securities numbers, and lived in the U.S. the entire year. Do the individual income tax return? If need to use a state use mississippi

Aisha is an accountant for a global CPA firm. She is being temporarily transferred from the Raleigh, North Carolina, office to Tokyo. She will leave Raleigh on October 7, 2022, and will be out of the country for four years. She sells her personal residence on September 30, 2022, for $247,500 (her adjusted basis is $220,000). Upon her return to the United States in 2026, she purchases a new residence in Los Angeles for $236,000, where she will continue working for the same firm. Required: a. What are Aisha's realized and recognized gain or loss? Note: If there is no gain or loss is recognized, select "No gain or loss". b. What is Aisha's basis in the new residence? a a b Basis of new residence Amount

Fred currently earns $10,400 per month. Fred has been offered the chance to transfer for three to five years to an overseas affiliate. His employer is willing to pay Fred $11,400 per month if he accepts the assignment. Assume that the maximum foreign-earned income exclusion for next year is $112,000. - If Fred’s employer also provided him free housing abroad (cost of $21,400), how much of the $21,400 is excludable from Fred’s income?

Private Westerberg is domiciled in Montana and his wife Eliane is domiciled in Idaho. They lived in California all year. Private Westerberg is stationed in California on permanent change of station orders. He also works part-time at an auto repair shop. Eliane moved to California solely to be with her husband. Eliane is employed as a social media manager. In California, they received the following income:     • Private Westerberg; military wages, $42,000. • Private Westerberg; wages from the auto repair shop, $9,000. • Eliane; wages as a social media manager, $51,000.   How much of their income is taxable by California?   $9,000   $42,000   $93,000   $102,000

Pablo is a Portuguese resident employed by a Portuguese company. He is sent to Australia to work on a shortterm project to assist with the establishment of a branch office of the company in Australia. Pablo works inAustralia for one month. Throughout this period, his salary was paid into his Portuguese bank account. Duringthe year, he earned the equivalent of A$120,000 from his employment. Does Pablo have to pay Australian taxon any of his salary? please explain according to the Australian law

Please help me.... Vivienne is a U.S. citizen, and she comes to you to have her taxes prepared. She tells you that she has signature authority over a foreign bank account, but the maximum value of this account never exceeded $10,000 at any time during the year. Vivienne does not have any other foreign assets, nor does she have any ties to a foreign trust. Although she worked abroad for three months during the year, you determine that her tax home was in the U.S. Given the information provided, which of the following forms would you complete for Vivienne? A, Schedule B, Interest and Ordinary Dividends. B, FinCEN Form 114 (FBAR). C, Form 2555, Foreign Earned Income. D, Form 8938, Statement of Specified Foreign Financial Assets.