Question
1. Analyze a start-up company you create. Include in your analysis the type of company you have created, its business objectives, and other factors that
1. Analyze a start-up company you create. Include in your analysis the type of company you have created, its business objectives, and other factors that you believe are important to the success of the business. 2. Choose at least two (2) specific transactions and determine the types of accounting methods that would be available for your business. Recommend the method that would minimize the tax liabilities for the company. Provide support for your rationale. 3. Of the two specific transactions you selected in Part 2, propose one (1) special accounting method, which your company would use to account for these transactions. Indicate any significant tax consequences that may result from the method you proposed. 4. Imagine you have decided to change the accounting method you chose after three (3) years in business, as you have discovered that another method would be more advantageous from a tax perspective. Analyze the rules regarding changes in accounting methods and then create a table that illustrates the effect of changing the accounting method on three (3) of your business unique transactions. 5. Develop an argument that supports your proposed accounting method change. Create a letter to the IRS to justify your position.
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