1.Please compare and contrast IRC Sections 162 and 212.

2.What records should a taxpayer be able to provide the IRS to substantiate a tax deduction?

3.Diane owns and manages a successful clothing store in Dallas. She and her brother, Cameron, investigated the possibility of opening another store in Atlanta for Cameron to manage. Diane and Cameron each paid $1,600 in travel costs while looking for sites for the store. Each paid $300 in legal fees for a lawyer to compile a list of zoning regulations and other relevant city ordinances. They decide that it is not feasible to open a new store at the present time. Can Diane and Cameron deduct their business investigation expenses? Explain.

4.Hobby losses: What factors differentiate a hobby from an active business?

6. Sports: Say, How bout them Bruins?

Please type on your computer, not with your hand-written. Pls answer all the questions.