Fed Tax Flowchart Forum

scottschreiber · Post by **scottschreiber** » Mon Nov 21, 2011 2:44 pm

For all those sadistic enough to take Fed Tax, I'm thinking the best way to study, as well as approach an exam question, is to use a flowchart that goes through all of the major topics covered in the course. For example, Is it gross income? Who is the taxpayer? What amount was realized? etc. However, I haven't found one of these I can just copy, so I think I'll have to make one myself.
Does anyone know if one already exists somewhere out there in the internets, and if so, where I can find it?
Also, if I were to make a flowchart, would anyone be interested in me posting it? Just important so I can determine if I should be using comprehensible conventions, or my own incoherent conventions.

moandersen · Post by **moandersen** » Mon Nov 21, 2011 3:45 pm

I would love to see/have a flowchart. Im finally understanding the rules individually but im struggling to see the big picture and how everything relates.

Taking tax was a HUGE mistake for me

BunkMoreland · Post by **BunkMoreland** » Mon Nov 21, 2011 8:01 pm

Would love this and/or any multiple choice tests

moandersen · Post by **moandersen** » Mon Nov 21, 2011 8:51 pm

BunkMoreland wrote:Would love this and/or any multiple choice tests

The Bunk dont need no practice test. All the Bunk needs is booze and a cigar. Sheeeet.

goosey · Post by **goosey** » Mon Nov 21, 2011 9:25 pm

scottschreiber wrote:For all those sadistic enough to take Fed Tax, I'm thinking the best way to study, as well as approach an exam question, is to use a flowchart that goes through all of the major topics covered in the course. For example, Is it gross income? Who is the taxpayer? What amount was realized? etc. However, I haven't found one of these I can just copy, so I think I'll have to make one myself.
Does anyone know if one already exists somewhere out there in the internets, and if so, where I can find it?
Also, if I were to make a flowchart, would anyone be interested in me posting it? Just important so I can determine if I should be using comprehensible conventions, or my own incoherent conventions.

you are crazy

i dont even know wha that would look like

My plan for tax is just to outline, pre-write as many answers as I can [and so far, I feel like pre-writes would work very well for tax], and then condense it.

I also think it would be helpful [for big picture envisioning] to just sit down and do a fake 1040 on paper
ie.

Income
list
all
income
here [including what doesnt count liek fringe benefits]

ATL Deductions
list here

AGI

BTL Ded

etc etc

thats what I plan on doing after I am done with pre-writes

Big Shrimpin · Post by **Big Shrimpin** » Mon Nov 21, 2011 10:18 pm

Someone plz poast/PM said flowcharts. Willing to exchange with money and/or hugs.

Julio_El_Chavo · Post by **Julio_El_Chavo** » Mon Nov 21, 2011 10:23 pm

Big Shrimpin wrote:Someone plz poast/PM said flowcharts. Willing to exchange with money and/or hugs.

Please PM to me as well. I will buy you a beer, if you live in Charlottesville.

fathergoose · Post by **fathergoose** » Mon Nov 21, 2011 10:33 pm

Julio_El_Chavo wrote:
Big Shrimpin wrote:Someone plz poast/PM said flowcharts. Willing to exchange with money and/or hugs.
Please PM to me as well. I will buy you a beer, if you live in ~~Charlottesville~~ Texas.

This.

Big Shrimpin · Post by **Big Shrimpin** » Mon Nov 21, 2011 10:37 pm

Big Shrimpin wrote:Someone plz poast/PM said flowcharts. Willing to exchange with money,~~and/or~~ hugs and/or my first-born child.

Amended.

Renzo · Post by **Renzo** » Mon Nov 21, 2011 10:38 pm

Dude. My casebook came with a flowchart. It folds out the size of a large wall map, and it looks like an electrical engineering schematic in tiny print. Fuck that thing.

Big Shrimpin · Post by **Big Shrimpin** » Mon Nov 21, 2011 10:47 pm

Renzo wrote:Dude. My casebook came with a flowchart. It folds out the size of a large wall map, and it looks like an electrical engineering schematic in tiny print. Fuck that thing.

::says "ugh, lucky" in Napoleon Dynamite fashion::

Antilles Haven · Post by **Antilles Haven** » Tue Nov 22, 2011 7:42 am

Renzo wrote:Dude. My casebook came with a flowchart. It folds out the size of a large wall map, and it looks like an electrical engineering schematic in tiny print. Fuck that thing.

I have that... it's hanging one my wall

fathergoose · Post by **fathergoose** » Tue Nov 22, 2011 7:26 pm

Also have the massive wall sized chart.

Would like nice flowchart instead.

Post by **Helmholtz** » Tue Nov 22, 2011 8:09 pm

+1 to the requests

I haven't actually started studying for that class yet

fathergoose · Post by **fathergoose** » Tue Nov 22, 2011 8:19 pm

I need to figure out what the hell a hotchpot is. I didn't pay attention to the term at first because I thought it was something he was making up to screw with us because there is no way that hotchpot is a real legal term but my prof used it approximately 5,000 times in class over the last two weeks. I'm guessing that means its important.

SpiteFence · Post by **SpiteFence** » Tue Nov 22, 2011 8:30 pm

fathergoose wrote:I need to figure out what the hell a hotchpot is. I didn't pay attention to the term at first because I thought it was something he was making up to screw with us because there is no way that hotchpot is a real legal term but my prof used it approximately 5,000 times in class over the last two weeks. I'm guessing that means its important.

*Frantically scouring my notes for this term*

Renzo · Post by **Renzo** » Tue Nov 22, 2011 8:49 pm

fathergoose wrote:I need to figure out what the hell a hotchpot is. I didn't pay attention to the term at first because I thought it was something he was making up to screw with us because there is no way that hotchpot is a real legal term but my prof used it approximately 5,000 times in class over the last two weeks. I'm guessing that means its important.

According to Wikipedia:

Hotchpot is a slang term referring to the blended group of Section 1231 "Gains and Losses" of the U.S. Tax Code.

fathergoose · Post by **fathergoose** » Tue Nov 22, 2011 9:18 pm

good to know.

Somebody out there on TLS has to have a FedTax Flowchart or attack outline.

C'mon....do it.

joobacca · Post by **joobacca** » Tue Nov 22, 2011 10:38 pm

i wonder if anyone has taken both fed income tax and secured transactions. that would make me borderline suicidal

prezidentv8 · Post by **prezidentv8** » Tue Nov 22, 2011 10:54 pm

Maybe I just really liked tax and am biased, but it wasn't that hard guys.

fathergoose · Post by **fathergoose** » Tue Nov 22, 2011 11:39 pm

prezidentv8 wrote:Maybe I just really liked tax and am biased, but it wasn't that hard guys.

Sooooooo you're saying you want to share?

de5igual · Post by **de5igual** » Tue Nov 22, 2011 11:44 pm

joobacca wrote:i wonder if anyone has taken both fed income tax and secured transactions. that would make me borderline suicidal

taking both plus biz associations

joobacca · Post by **joobacca** » Wed Nov 23, 2011 12:06 am

f0bolous wrote:
joobacca wrote:i wonder if anyone has taken both fed income tax and secured transactions. that would make me borderline suicidal
taking both plus biz associations

well... that sucks.

seriously, i think tax is pretty shitty. it's not conceptually difficult or anything and i can see the logic behind a lot of the provisions. but there's just so much shit...

BunkMoreland · Post by **BunkMoreland** » Wed Nov 23, 2011 12:35 am

bunk is tired of waiting. Fork over the outline and flow chart, peoples.

BunkMoreland · Post by **BunkMoreland** » Wed Nov 23, 2011 5:15 am

well if no one is gonna oblige, you guys wanna throw around hard questions/practice problems with each other?

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