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Rachel, 28 years old, is single and has no dependents. In 2024, Rachel had the following items of income and expense: Item Amount (in $) Salary 60,000 Qualified business income 15,000 Municipal bond interest income 300 Short-term capital loss (500) Long-term capital gain 1,500 Student loan interest (2,700) Traditional IRA Contribution (3,500) Total itemized deductions (12,000) The qualified business income is derived from an ownership interest in her family’s S-Corporation. The income is not subject to self-employment taxes.  Rachel’s employers withheld $6,000 in federal income taxes from her paychecks. What is Rachel’s tax due or tax refund? (Link to tax rate schedule Appendix C_2024.pdf).  Show all your work. 

In general, under which of the following scenarios would a contribution to Roth IRA yield a higher after-tax account balance in retirement compared to a traditional IRA?  

Beth’s business purchased only one asset during the current calendar year (a full 12-month tax year). On December 1 Beth placed in service the general manufacturing equipment asset (seven-year property) with an initial basis of $50,000. Calculate the maximum depreciation expense (ignoring §179 and bonus depreciation).  Link to class life and depreciation tables: Link

Why is microfilaria (MF) testing recommended in conjunction with antigen testing in dogs suspected of heartworm infection?

An intermediate host is needed for both Physaloptera and Toxocara cati.

A client brings in their dog, Bucky, for a check-up and you perform a sucrose fecal flotation with centrifugation on a sample of Bucky’s feces.  You find numerous eggs depicted below. What are they?  

All of the following nematodes are zoonotic EXCEPT for:

For Eucoleus (Capillaria) aerophilus, select the FALSE statement

For Dirofilaria immitis infection in cats, select the TRUE statement

Why is heartworm diagnosis especially challenging in cats compared to dogs?