You are currently working at a mid-sized certified public accounting firm. Your client is Bob Jones. Bob has hired your firm for professional advice regarding
whether he should operate as a sole proprietor, a partnership, an S corporation, or a C corporation. Using the supplied Data Sheet for Final Project document,
prepare a memorandum to the client recommending a type of business entity, including an appendix of supporting IRS tax schedules and forms. Specifically, the
following critical elements must be addressed: I. Recommendation
A. Recommend a type of business entity for the client to consider based on your tax research. Consider justifying your recommendation using the code and
regulations that relate to the business entity.
B. Differentiate between accrual accounting and cash basis. Based on the type of business and the clientâs accounting system, what is the impact when revenue
is recognized?
C. Based on the decision of accrual vs. cash basis, describe when revenue would be recognized on the sale of inventory, and how the accrual reporting differs
from cash basis.
D. Determine the economic impact on the clientâs financial situation. Based on your decision, determine the potential tax liability, keeping in mind
appropriate Internal Revenue Code and Treasury regulations.
E. Identify the tax consequences on the sale or exchange of the land consistent with capital gain rules. Consider the selling expense, brokerâs fees, closing
costs, appraisals, and surveys and the correct schedule form to complete.
F. Justify whether or not the client should choose a business entity that has limited liability protection. Be sure to include possible future liability
issues based on the potential economic impact and appropriate Internal Revenue Code and Treasury regulations.
G. Describe the tax effect on the recommended business entity and the impact it will have on the clientâs personal tax return. Consider addressing how the
business entity affects the completion of the 1040 tax form. II.
Sample Solution
(AGI) organization having the objective to make machines like us, ready to think and carry on like people. Haven call them synths and is what they will be, manufactured insight, or right? What is insight? What’s more, would we be able to figure out what’s “engineered” insight or just knowledge? I believe that a portion of the basic premises that lie underneath the way to deal with comprehend insight is that it’s a property of a physical body and can’t be disengaged or segregated from it. Like us people our knowledge developed to help us as a life form to more readily explore and control our condition to assist us with documenting our objectives, and I accept that all together for a synth to comprehend the world similarly as we do, it needs a body that is as near a human body as could reasonably be expected. I imagine that if its body work a similar route as a human body, it will assist manufactured insight with developing ideas and a comprehension of the world that is like the manner in which our own personalities work. A few organizations are creating human body changes and human improvement in the reason for clinical use, today we see body prosthetics on people being utilized by their cerebrum signs to control their development however sooner rather than later I might suspect we will start to see non-therapeutically body alterations as prosthetics to the body parts we as of now have, joining innovation such that make us more robots. In any case, making manufactured insight look and act like us people, while we simultaneously make ourselves seem as though engineered knowledge consolidating us with prosthetic body parts, isn’t that creation us nearly the equivalent? We can both think, we have a similar body shape, we are both part robot, and we are one might say both human. When do we arrive at where we are more machine than human? What’s more, would we be able to distinguish synths in a point where they are similarly as people as us. I feel that people will make significant alterations on our body in the following short measure of time and when we arrive at where the contrasts among synths and people are nearly gone, I believe that what will decide an individual from a synth will be that it was conceived as a human and not made from innovation. In any case, on the off chance that you make babies from both “races” which both end at a similar point in life where they are genuinely indistinguishable I wouldn’t state that they were extraordinary! I would state that they would be a similar sort of being, the two of them can think, have sentiments, and carry on as one another. It is state that white individuals are superior to dark individuals! Also, it would be a similar thought since they are genuinely indistinguishable. We would simply have made the outsider we have been searching for the opening time or made another correlation with an individual with another sort of development. About Essay Sauce This page of the exposition has 657 words. Download the full form above. Socrates and Plato utilized the Allegory Cave to clarify the basic considering aptitudes normal society by clarifying what the envisioned the truth should resemble and what the genuine truth resembles this present reality outside the cavern. They accepted life resembled being in a cavern and that is the thing that life was about and seeing shadows escaped reality. These logicians both accepted that this relationship of the individuals in the cavern not understanding the man who informed them regarding the outside life and there’s living things and things you can contact and believe, and the shadows they were seeing were individuals strolling by with creatures and crops and those were living individuals. The disarray these logicians depicted, was a model they were utilizing when they said how they feel when attempting to instruct general society. They trust us residents are threatening and isn’t eager to learn new things based off our obliviousness. Plato contended the majority, for example, us residents are excessively difficult and uninformed to administer ourselves. >
(AGI) organization having the objective to make machines like us, ready to think and carry on like people. Haven call them synths and is what they will be, manufactured insight, or right? What is insight? What’s more, would we be able to figure out what’s “engineered” insight or just knowledge? I believe that a portion of the basic premises that lie underneath the way to deal with comprehend insight is that it’s a property of a physical body and can’t be disengaged or segregated from it. Like us people our knowledge developed to help us as a life form to more readily explore and control our condition to assist us with documenting our objectives, and I accept that all together for a synth to comprehend the world similarly as we do, it needs a body that is as near a human body as could reasonably be expected. I imagine that if its body work a similar route as a human body, it will assist manufactured insight with developing ideas and a comprehension of the world that is like the manner in which our own personalities work. A few organizations are creating human body changes and human improvement in the reason for clinical use, today we see body prosthetics on people being utilized by their cerebrum signs to control their development however sooner rather than later I might suspect we will start to see non-therapeutically body alterations as prosthetics to the body parts we as of now have, joining innovation such that make us more robots. In any case, making manufactured insight look and act like us people, while we simultaneously make ourselves seem as though engineered knowledge consolidating us with prosthetic body parts, isn’t that creation us nearly the equivalent? We can both think, we have a similar body shape, we are both part robot, and we are one might say both human. When do we arrive at where we are more machine than human? What’s more, would we be able to distinguish synths in a point where they are similarly as people as us. I feel that people will make significant alterations on our body in the following short measure of time and when we arrive at where the contrasts among synths and people are nearly gone, I believe that what will decide an individual from a synth will be that it was conceived as a human and not made from innovation. In any case, on the off chance that you make babies from both “races” which both end at a similar point in life where they are genuinely indistinguishable I wouldn’t state that they were extraordinary! I would state that they would be a similar sort of being, the two of them can think, have sentiments, and carry on as one another. It is state that white individuals are superior to dark individuals! Also, it would be a similar thought since they are genuinely indistinguishable. We would simply have made the outsider we have been searching for the opening time or made another correlation with an individual with another sort of development. About Essay Sauce This page of the exposition has 657 words. Download the full form above. Socrates and Plato utilized the Allegory Cave to clarify the basic considering aptitudes normal society by clarifying what the envisioned the truth should resemble and what the genuine truth resembles this present reality outside the cavern. They accepted life resembled being in a cavern and that is the thing that life was about and seeing shadows escaped reality. These logicians both accepted that this relationship of the individuals in the cavern not understanding the man who informed them regarding the outside life and there’s living things and things you can contact and believe, and the shadows they were seeing were individuals strolling by with creatures and crops and those were living individuals. The disarray these logicians depicted, was a model they were utilizing when they said how they feel when attempting to instruct general society. They trust us residents are threatening and isn’t eager to learn new things based off our obliviousness. Plato contended the majority, for example, us residents are excessively difficult and uninformed to administer ourselves. >
