to effectively reduce her tax liability? Provide specific recommendations, defend them with tax regulations, and explain the tax consequences or savings
in conceptual and dollar value terms.
Address Ms. Shire’ s questions pertaining to her partnership income. Based on the given information, what actions can Ms. Shire take throughout the
year to effectively reduce her tax liability from the partnership? What are the tax consequences to Ms. Shire if she and her partner choose to change
their business to a corporation? Provide specific recommendations, defend them with tax regulations, and explain the tax consequences or savings in
conceptual and dollar value terms.
Address Ms. Shire’ s questions pertaining to Clifford Co.’ s tax preparation. Provide specific recommendations, defend them with tax regulations, and
explain the tax consequences or savings in conceptual and dollar value terms.
Supporting documents should include, but are not limited to: a completed tax return, tax schedules, and tax forms.
Guidelines for Submission: Tax Memo I should be submitted as a one- to two-paragraph summary in a Microsoft Word document with double spacing, 12-point
Times New Roman font, one-inch margins, and at least two sources cited in APA format. Round all answers up to the nearest dollar value in any calculations.