The bookkeeper, who is not an educated accountant provided you with the following unadjusted information. For Year Ended December 31, 2017: Gross…

12/15/2017 $1,750.00

4.

Taxpayer desires to minimize taxes and apply any overpaymen

t to next year

5.

Schedule L

assume beg cash $

21488.

6.

Complete schedule M-1 and M-2

7.

New assets purchased are not expen

se

d despite the bookkeepers entry and therefore must

be capitalized first and then depreciated using section 179 ex

pense election. If you do not

know what this means. Please reread your principles of account

ing text chapter on fixed

assets.

8.

Personal Use of auto expense is 15%

9.

If you do not know the definition of ordinary and qualified divi

dends, please see

Individual tax text or find same definitions on IRS websit

e.

10.

Employer sponsored health plan is 100% ACA compliant, pr

emiums paid by company.

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