NURSING-ESSAY-WRITING-SERVICES

Income and Tax

You have been a CPA for many years and recently opened your own practice focusing on small businesses. You have a meeting with a client, Jack, who has an interesting career as a professional gambler. He makes about $100,000 per year and has won many tournaments on the circuit. He is considering entering the WSOP to play for “the bracelet.”

Need Help Writing Your Essay?

Tell us about your assignment and we will find the best writer for your paper.

Get Help Now!

As is standard procedure, you ask Jack for his taxes, and he says he hasn’t filed taxes since 2016 (meaning he has not filed 2017, 2018, and 2019, where 2019 is the current year), because he does not work, due to his time spent playing poker and attending tournaments. He actually says he is now concerned because his father said he should have been filing taxes, but he believed an accountant he met at a party, who after many, many martinis said he would not have to file taxes because this is a “hobby.”

Your tasks:

Jack makes good money now, but in 2017 he thinks he had losses and barely broke even in 2018. The first project Jack agrees to pay you for ($1300 max) is for a tax memo concerning this issue.

1. Using an appropriate research tool, research to see if Gambling is income and subject to tax.

2. Using an appropriate research tool, research to see if Jack does have to file or not.

3. Assuming he does (regardless of the answer above), can you still file a return he has not filed previously in 2017 and 2018?

Using the information above, write the memo using the header below:
=====================================================================================

To: File

From: [Name]

Sbj: Deductibility of Property Taxes under Code Section [Code Section] for the 2020 Tax Year.

What Students Are Saying About Us

……….
Customer ID: 12*** | Rating:
“Honestly, I was afraid to send my paper to you, but you proved you are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first Great job, thank you!”

……….
Customer ID: 11***| Rating:
“This company is the best there is. They saved me so many times, I cannot even keep count. Now I recommend it to all my friends, and none of them have complained about it. The writers here are excellent.”

“Order a custom Paper on Similar Assignment at essayfount.com! No Plagiarism! Enjoy 20% Discount!”


Income and Tax was first posted on December 1, 2020 at 8:07 am.
©2020 "Essayfount". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at support@essayfount.com

Ask your questions to our best tutors for quality and timely answers whenever you need. Learn fast and seek help from our solution library that grooms your concepts with over 500 courses. When you place an order with us, be sure that the content will be authentic and free from plagiarism. Moreover, we do make sure that the content is research-based!

From essays to dissertations, we have writing experts for all your assignment needs!

PLACE YOUR ORDER