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Personal and Small Business Taxation
Instructions:
Please print the PDF File titled "Exam #2" located in myCourses under the Content tab folder titled Exams.
Your position is a senior tax manager at a CPA Firm and you have been presented with this tax return by an intern from the University of Tampa at Florida who is working with you this tax season.
Your job is to review the tax return, as is, without any other documentation, and provide reviewer notes to the intern as to comments, questions, errors, etc. based on what was presented to you and your knowledge of the tax laws.
Prepare your notes in the form of an outline and number each of your reviewer notes.
Attachment:- Assignment.rar
Determine taxable income before considering expense.
Prepare a tax research memo to the file that addresses the issues you feel are most relevant to Mimi's various issures.
Explain what is meant by income by ordinary concepts
Identify the tax issues that are raised and the relevant sections of the legislation. Identify any cases and other sources of law or information that apply.
Calculate Carolines taxable income
Show the tax issues that are raised and the relevant sections of the legislation.
Brief statement in your own words of the facts of the cases.
Prepare the C Regular Corporation Tax Return for the Lawson And Norman Enterprise
Advise the participants in the ‘barter' system of the income tax implications, if any, of participating in the system.
Discuss- A tax on cigarettes is a good way of raising tax revenue for the government
Prepare the required journal entry to record the tax expense
Calculate Barb's taxable income? What nonrefundable credit is Barb eligible for based on the information you have?
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