Assignment 1: Assisting a Family with their Tax Returns

Due Week 6 and worth 155 pointsImagine that you are preparing taxes for a local tax service provider. A married couple named Judy and Walter Townson have come to you to seeking assistance with their federal income taxes. During your meeting with the Townsons, you gather the following information:They are both 55 years of age.They have two daughters and one son. One daughter (age 25) is married with children. One daughter (age 20) is living at home and attending college. Their son (age 16) is a junior in high school.They are currently paying for their college-student daughter to attend school full time.Judy is employed as a teacher and makes $60,000 a year. She used $500 of her personal funds to purchase books and other supplies for her classroom.Walter is employed as a CPA and makes $100,000 a year. They provided you a 1099-INT which reported $4,500 in interest, of which $500 was savings bond interest.They provided you a 1099-DIV which reported $300 in dividends. They received a state tax refund last year of $385. They provided you a list of expenses including: Doctor’s bills, $800Prescriptions, $400New glasses, $2,000Dental bills, $560Braces, $5,000Property taxes for their two cars of $800, which included $50 in decal feesReal estate taxes of $4,500Mortgage interest of $12,000Gifts to charities, $1,000GoFundMe contribution to local family in need, $100Tax preparation fees for last year’s taxes, $400Consider the most beneficial way for Judy and Walter to file their federal income tax return. Prepare a brief written summary that addresses the following: Estimated taxable income for Judy and Walter (please show computations).Summary of tax return, including any suggestions or tax planning considerations. Explain how you determined the filing status, dependents, and use of standard/itemized deduction.Note: The summary should be no more than 500 words and should be uploaded as a Word document with a cover page via the Blackboard assignment tab in Week 6.The specific course learning outcomes associated with this assignment is:Complete a tax analysis that is informed by tax law and strategies to determine the most beneficial way for a client/family to file their federal income tax return.Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the rubric located here.

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Order your essay today and save 25% with the discount code: THANKYOUPlace Order
+