Posted: December 17th, 2022

Week 3 writing assignment – part 3 | IncomeTax Accounting

 The complete Writing Project and Presentation is found in Getting Started. Upload the portion of the project due this week.Requirements:Writing, using software, and interpreting results is a large part of your learning experience. These assignments are designed to improve your use of technology and communication skills. Using proper business English and resources from the library you will comment and share your research with your classmates. Make sure you note your source in proper APA format.Project Information:You are a manager at a local accounting firm, and Kate and Sam Smith are your clients.  It is the end of the year, and they have come to ask your advice on some tax planning strategies, as well as help preparing their tax return.Week 3 Writing Assignment Part 3:This project is split into four (4) parts with one (1) part due each week of the course. Based on your readings, use of technology, research of literature, and other sources do the following:Week 3: Based on the feedback you received last week, finalize the Smith’s tax returns. Write a 4-page letter to Kate and Sam Smith which:

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  1. Walks them through their current year tax return.
    1. Detail which expenses they incurred that were nondeductible for tax purposes and explain why. The Smiths have always itemized deductions instead of taking the standard deduction on their tax return.  Explain how this may no longer be the best tax strategy due to changes in tax law under the TCJA.
    2. Regarding the investment opportunities you calculated in week 1, explain:
      1. Which investment opportunity you would recommend.
      2. What the conversion tax planning strategy is, and which of these investments employ this strategy.
      3. How “implicit taxes” may limit the benefits of the conversion strategy.
    3. Kate and Sam are considering purchasing a vacation home.They plan on spending several months each year vacationing in the home and renting out the property the rest of the year.  Provide an overview of the key tax considerations they should take into account when making this decision.

Due Dates: This project is completed over several weeks so be sure to follow the due dates carefully.Grading Rubric: Please refer to the grading rubric specific requirements.Library AssistanceLink to Keiser’s elibrary resources:  http://kesu-verso.auto-graphics.com/MVC/PowerPoint instruction on how to use the Keiser elibrary:   Keiser Slide show Library-Orientation-login-and-navigate-lesson1.pptx Keiser Slide show Library-Orientation-login-and-navigate-lesson1.pptx – Alternative FormatsGuidance on how to log in and use the Keiser elibrary:   KU Library login guide2014October3.pdf KU Library login guide2014October3.pdf – Alternative FormatsHow to cite work from the library:   How to cite work from the library.docx  How to cite work from the library.docx – Alternative FormatsThis link helps with APA format:  https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/general_format.htmlGraded Activity:Click on Getting Started to review the requirements for the writing project.  Then click the title link above labeled “Week 3 Writing Project – Part 3” to upload part 3 of the writing project. 

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