“You are a CPA with an office in NearLakes City and clients consisting primarily of professionals, entrepreneurs, and small business owners. John…


"You are a CPA after a while an function in NearLakes City and clients consisting principally of administratives, entrepreneurs, and slight duty owners. John Smith, Esq., a practicing counsel after a while functions nigh yours, walks in your function andwants direction from you in-reference-to to a fresh influx of specie he current as a conclusion of alluring a vast jury answer on interest of his client in a idiosyncratic deterioration subject. His helpmate Jane Smith accompanies him during your parley consequently shehas some joined tax planning direction to ask of you.RoleAfter reviewing John and Jane Smith’s points of intention, it gain be your round as a tax administrative to flow on the best succession of enjoyment from a tax perspective on their issues. Prepare a three page memo (at lowest 300 language per page) toJohn and Jane Smith addressing the issues presented.Prepare a three page memo (at lowest 300 language per page) to John and Jane Smith addressing whether the issues presented aloft:1. John Smith tax issues:1. How is the $300,000 treated for purposes of Federal tax allowance?2. How is the $25,000 treated for purposes of Federal tax allowance?3. What is your purpose in-reference-to reducing the taxable equality of allowance for twain (a) and (b) aloft?2. Jane Smith tax issues:1. What are the unanalogous tax consequences between paying down the hypothecation (debt) and showy a new hypothecation (debt) for Federal allowance tax purposes?2. Can John and Jane Smith economize a 1031 tax substitute to buy a further costly stock using joined currency from John`s subject?3. Does Jane possess a duty or falter? Why is this difference dignified?4. Would Jane (and John) conceive amend tax benefits if she had a detached duty for her jewelry making activities?5. What tax benefits would John conceive if he invested $15,000 in Jane`s jewelry making?6. Can Jane detract her behavior or jewelry making equipment? How?3. John and Jane Smith tax issue:1. a. Should John and Jane perfect detached tax avail o"

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