AC 553 YOU DECIDE WEEK 4 BEM TAX SERVICES MEMO TO JOHN AND JANE To purchase this visit here: http://www.nerdypupil.com/product/ac-553-you-decide-week-4-bem-tax-services-memo/ Contact us at: nerdypupil@gmail.com AC 553 YOU DECIDE WEEK 4 BEM TAX SERVICES MEMO TO JOHN AND JANE AC 553 You Decide Week 4 BEM Tax Services BEM Tax Services Memo To: John and Jane Smith From: Benedict Mitchell Date: [ 10/7/2011 ] Re: Tax Issues Upon reviewing the information you submitted to me concerning your
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No matter where you are born around the world or at what time one thing will always be inevitable of your ending; you will die. In all ways of life people have come accustomed to the practice of funerals, also known as death rituals. It has become common nature all around the world that when a person dies a ceremony will be held most likely involving their closest friends, family, or neighbors. It is understood that you live and die, but what funerals provide is a peace that can come with the inescapable
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they received $19,000 in nontaxable funds (disability income, interest on municipal bonds and Social Security benefits) from which $8,000 was equally spent between them on clothing, transportation, and recreation. The remaining $11,000 was invested in tax-exempt securities. Janet Baker paid $1,000 for her mother’s dental work and $1,200 premium on her father’s own life insurance policy. Janet’s father, Calvin, incurred medical expenses that he paid for himself. Darin is the Bakers’ 18-year-old son who
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6 AP: Define Payables Options 7 AP: Define Banks 10 AP: Define New AP Signing Limits 13 AP: Define Tax Codes 14 AP: Define Tax Groups 15 AP: Define Tax Reporting Entities 16 OIE: Define iExpense Policies 17 Enable Expense Allocations 17 Set Up Required Expense Fields 18
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recent court case clearly has established that the interest paid to the ex-spouse is taxable to her, even though the principal on the note is exempt from tax as a transfer incident to divorce (Gibbs, TC Memo 1997-196). So if the recipient has to pay tax on the interest, the paying spouse should receive a corresponding deduction on his income tax return, right? Not necessarily. Until recently, the IRS has ruled that divorce-related interest is non-deductible personal interest, and has disallowed any
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Tax Research Memorandum To: Lauren Smith From: Date: May 18, 2012 Re: Tax Treatment of MBA education expenses Facts You incurred $15,000 in educational expenses in the course of earning a MBA. You want to deduct these expenses as an employee business expense in your tax return since your employer does not have an education expense reimbursement program. Issue The issue is (1) whether the education was required to keep your present salary, status or job and/or the education maintains
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Accountant Prepares income tax return forms for individuals and small businesses: Reviews financial records, such as prior tax return forms, income statements, and documentation of expenditures to determine forms needed to prepare return. Interviews client to obtain additional information on taxable income and deductible expenses and allowances. Computes taxes owed, using adding machine, and completes entries on forms, following tax form instructions and tax tables. Consults tax law handbooks or bulletins
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USE THE FOLLOWING FORMAT: (See Exhibit 2-9, Sample Research Memo, on page 2-21 of text, for more details) MEMO #: 4 GROUP #: 7 / Writer: Jabari Brown / Reviewers: ________________________ FACTS: Connie Cook owns her own marketing consulting business that she runs out of her home. She paid $15,000 to join a country club in order to meet potential marketing clients. This year Connie also paid $4,300 in greens fees when golfing with clients. ISSUE: Can Connie deduct the $15,000 cost of
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maximize their tax returns for the year 2012 however tax concerns came along such as effect on tax liabilities and marriage penalty tax. Following calculation of taxes owed for the current year a higher tax penalty was determined. It was suggested by the clients that they individually file single until the day before they married, terminate their tax years and subsequently file a “short period” joint tax return for the time that they are married. Conclusion: On the Donald R. Pierce, TC Memo 1980 - 563
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ACCT 545 Deborah Asbury CPA Report Memo To: Outside CPAs From: Date: April 13, 2014 Re: CPA Report In response to the examination of the subsidiary that has been set up as a corporation, the explanations to the deferred tax methods, procedures for accounting changes and corrections, and the reasoning for setting up the corporation as a subsidiary will be addressed in the following memo. Deferred Tax Method Financial reporting and tax reporting create temporary differences between
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