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Client Three – Ms. Emma Shire (Tax Memo)
Ms. Emma Shire is a client at S.N.H.U., LLC. Your task is to develop
a comprehensive, professional tax memo and appendix for her by
analyzing business and
individual tax situations. Ms. Shire has questions and concerns about
her personal income taxes, as well as taxes as they relate to her role in
a partnership with
Marlene Anderson. She also works at Clifford Co., a large
organization set up as a corporation, and has questions about their tax
preparation. You will work with
Ms. Emma Shire to provide her with guidance on her questions
related to personal, partnership, and corporate tax situations. You will
need to apply income tax
regulations in solving problems and recommending courses of action
that will comply with regulations and, at the same time, result in the
best economic solution
for Ms. Emma Shire.
Artifact Three: Tax Memo I Information for Personal Income Tax
Preparation
Ms. Shire has provided you with the following information to prepare
her personal income tax return for 2014.
Emma Shire lives at 5258 Mountain Skies Road, College Park, MD
20742. She is a human resource manager at Clifford Company, 896
Western Avenue, College
Park, MD 20742 (employer identification number XX-1111111). She
is also a 50/50 partner in a local clothing boutique. Ms. Shire is
divorced and has two small
children, Kelly Shire (DOB 2/3/2012) and Jordan Shire (DOB
5/19/2006).
Ms. Shire was born on January 14, 1976, and her Social Security
number is 123-45-6789. She does not want to contribute $3 to the
Presidential Election
Campaign Fund.
The following information is shown on Ms. Shire’s 2014 Wage and
Tax Statement (Form W–2):