It’s weird how with tax, you don’t have as many cases as you have statutes. I guess I don’t have that much else to say about the topic in general. I did the worst I’ve ever done on anything school-related ever on my tax midterm. It was weird, too, because I got full points on the essay part, but I just bombed the 20 multiple choice questions. Twenty questions, and it basically failed me. My opinion is that multiple choice is ridiculous with law – even the MPRE, and I passed that. So there, that is my opinion. Sorry, Ian, I am not good at your topic of law. Gimme Commerce Clause any day over depreciation.
Anyway, everyone basically knows about tax because we have to pay it. Gross income = inclusions and not exclusions (all income from whatever source derived unless it is specifically excluded. Yeah, that’s right, you should have included that). Adjusted gross income = GI – above-the-line deductions. Taxable income = AGI – below-the-line deductions (or standard deduction) and personal and dependent exemptions. Then you calculate the alternative minimum tax to see if you have to take that instead. Then you take the tax credits off. So, I guess I’d say I learned some stuff in this class, and this book is fine. My professor was very smart and accomplished, but is probably an insane person and cannot complete a sentence to save her life. That was a challenge.
There is a part in this book where they make some kind of crack about how women don’t support themselves, or something. I didn’t get the joke, but the professor doesn’t like that. So, if that’s actually the joke they were making, uncool old tax guys. Uncool. If they were saying something else, please be more precise, tax guys.
I’d hate to really say anything else because it might rub up against advice, and no one probably wants to know my advice about tax after the shitshow of that midterm. If the final goes a lot better, I might come back and get bossy. Probably I’ll just thank my lucky stars and walk away, though.