ACC/307 Assignment 1 Avoiding Taxes – A Graded Work
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Strayer ACC 307 Assignment 1: Avoiding Taxes
Due Week 7 and worth 240 points
Efforts to avoid paying income taxes have been publicized lately because many taxpayers feel unfairly taxed. Consider the idea that you would renounce your U.S. citizenship to avoid paying taxes on your income. Dual citizenship may also be an option, but that is a more complicated undertaking.
Write a three to four (3-4) page paper in which you:
1. Analyze the effects of renouncing your citizenship on your tax liability.
2. Analyze the effects of establishing dual citizenship on your tax liability.
3. Compare the effects of renouncing citizenship to establishing dual citizenship on your tax liability.
4. Decide if either of these actions is warranted in your particular case and state why you think that way.
5. Suggest other alternatives to reduce your tax liability without renouncing citizenship.
6. Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.
Your assignment must meet the following requirements:
• €Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• €Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are:
• €Compute tax liability including various tax credits payments and how to calculate the income tax liability based upon the federal tax formula.
• €Use technology and information resources to research issues in individual federal taxation.
• €Write clearly and concisely about federal taxation using proper writing mechanics.