Answer A Questions
You have been a CPA for many years and recently opened your own practice focusing on small businesses. You have a meeting with a client, Jack, who has an interesting career as a professional gambler. He makes about $100,000 per year and has won many tournaments on the circuit. He is considering entering the WSOP to play for “the bracelet.”
As is standard procedure, you ask Jack for his taxes, and he says he hasn’t filed taxes since 2016 (meaning he has not filed 2017, 2018, and 2019, where 2019 is the current year), because he does not work, due to his time spent playing poker and attending tournaments. He actually says he is now concerned because his father said he should have been filing taxes, but he believed an accountant he met at a party, who after many, many martinis said he would not have to file taxes because this is a “hobby.”
Your tasks:
Jack makes good money now, but in 2017 he thinks he had losses and barely broke even in 2018. The first project Jack agrees to pay you for ($1300 max) is for a tax memo concerning this issue.
1. Using an appropriate research tool, research to see if Gambling is income and subject to tax.
2. Using an appropriate research tool, research to see if Jack does have to file or not.
3. Assuming he does (regardless of the answer above), can you still file a return he has not filed previously in 2017 and 2018?
Using the information above, write the memo using the header below:
=====================================================================================
To: File
From: [Name]
Sbj: Deductibility of Property Taxes under Code Section [Code Section] for the 2020 Tax Year.
ORDER an A++ paper from our MASTERS and DOCTORATE WRITERS
Who We Are
We are a professional custom writing website. If you have searched for a question and bumped into our website just know you are in the right place to get help in your coursework.
Do you handle any type of coursework?
Yes. We have posted over our previous orders to display our experience. Since we have done this question before, we can also do it for you. To make sure we do it perfectly, please fill out our Order Form. Filling the order form correctly will assist our team in referencing, specifications, and future communication.
Is it hard to Place an Order?
ORDER NOW FOR AN ORIGINAL PAPER ASSIGNMENT
1. Click on the “Order Now” on the Main Menu and a new page will appear with an order form to be filled.
2. Fill in your paper’s requirements in the “PAPER INFORMATION” section and the system will calculate your order price/cost.
3. Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
4. Click “FINAL STEP” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
100% Reliable Site. Make this your Home of Academic Papers.
SCORE A+ WITH HELP FROM OUR PROFESSIONAL WRITERS: ORDER NOW FOR AN ORIGINAL PAPER ASSIGNMENT
Always Order High-Quality Academic Papers from HERE
5. From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.
We will process your orders through multiple stages and checks to ensure that what we are delivering to you, in the end, is something that is precise as you envisioned it. All of our essay writing service products are 100% original, ensuring that there is no plagiarism in them. The sources are well-researched and cited so it is interesting. Our goal is to help as many students as possible with their assignments, i.e. our prices are affordable and services premium.
Looking for a Similar Assignment? Order a custom-written, plagiarism-free paper