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
Taxpayer desires to minimize taxes and apply any overpaymen
t to next year
Schedule L
assume beg cash $
21488.
Complete schedule M-1 and M-2
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.
Personal Use of auto expense is 15%
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.
Employer sponsored health plan is 100% ACA compliant, pr
emiums paid by company.







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