You will submit a draft of your recommendation for the business entity
that you believe will meet the client’s needs, based on your research. You will
also select the accounting method that should be used to interpret the business
transactions and for tax reporting. You will also summarize the tax law
pertaining to the entity selected. This assignment will address Section I, Parts
A, B, and C of the critical elements of the final project.
Specifically, the following critical
elements must be addressed:
A. Use logical
reasoning based on your tax research to explain why the client should choose
your recommended business entity. Consider referencing appropriate tax
code and regulations.
B Defend your
business entity recommendation by describing the accounting method. Consider
the advantages and disadvantages of the business entity based on the following:
Cash basis vs. accrual
The cost to prep the returns
The tax benefits
The limited liability protection
5. Employee benefits
C. Interpret the tax law pertaining
to the type of business recommended and justify your recommendation using
details consistent with tax law, code, and regulations.
Guidelines for Submission: Your paper must be submitted as a 1–3-pageMicrosoft
Word document with double spacing, 12-point Times New Roman font, one-inch
margins, and at least three sources cited in APA format.