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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.
Tax Memo II 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.