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Need help answering the following questions Personal perspectives and position : What is your experience and knowledge level regarding individual taxes? How did your personal

Need help answering the following questions

  1. Personal perspectives and position:What is your experience and knowledge level regarding individual taxes?How did your personal tax experience and knowledge help you in completing this tax return?
  2. Other salient perspectives and positions:What resources did you use in preparing this tax return?Provide references to page numbers in your textbook and specific addresses within the IRS website.
  3. Key assumptions:How did you decide what filing status to use?How did you decide who the dependents were?How did you decide which income was includible or excluded?How did you decide which expenses were deductible?Please explain.
  4. Quality of evidence:Show your work in an Excel attachment for the following line item:Form 1040 Line 44.(When calculating the tax amount, make sure you consider the preferential tax rates for long-term capital gains and qualified dividends.If your tax amount calculated in your Excel worksheet is slightly different from the tax amount calculated by the software, just make a note of it on the spreadsheet.It may be a rounding difference, but you should not be off by too much.)
  5. Conclusions, implications, and consequences:From your answers to the line items in this tax return, is this individual in a position to receive a refund from the IRS or to pay additional tax to the IRS?
  6. Identify criteria for assessing alternatives:Based on the amount owed or to be refunded, what are the key tax issues that should be considered during the next year?List at least two key tax issues and explain each.(Think outside the box; this is not given in the problem.)
  7. Applies criteria to alternatives:Based on these key tax issues, what are the taxpayer's options for the next year?Identify options for each tax issue listed.(Again, think outside the box.)
  8. Evaluates results:As a tax preparer, what would you recommend this client to do next year based on the options identified?

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