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need to write the memo for this assignment. there is sample picture. Hello, my name is Shady Slim. I understand that you are going to

need to write the memo for this assignment. there is sample picture.
image text in transcribed
image text in transcribed
Hello, my name is Shady Slim. I understand that you are going to help me figure out my gross income for the year, whatever that means, it's been. a busy year and fm a busy man, so let me give you the lowdown on my life, and you can do your thing I was unemployed at the beginning of the year and got $2,000 in unemployment compensation, I later got a job as a manager for Roca Cola I earned $55,000 in base salary this year. My boss gave me a $5,000 Christmas bonus on Decenber 22 but I decided to hold on to that check and not cash it until next year so that I won't have to pay taxes on it this yeas. Pretty smart, huh? As part of my manager duties. I get to decide on certain things, like contracts, for the comparny. My good buddy, Eddie, runs a bottling company. I made sure that he won the bottling contract for Roca Cola for this yoar (even though his contract wasn't quite the best). Eddie bought me a Corvette this year for being such a good friend. It Corvette cost $50,000, and I'm sure he bought it for me cut of the goodness of his heart. Wist a great giry Here's a bit of good luck for the year. Upon leaving my office one day, Ifound $8,000 Wing in the street! Well, one person's bad luck is my good luck, right? I like to gamble a lot. I won a $220,000 polver tournament in Las Vegas this year. I aso won about $5,000 over the year playing the gus at our Friday night game. Can you believe that I didn't lose amything this year? Speaking of the guys, one of them said that I should put that money I won at gambling - well, $200,000 of it - into an annuity? So I did just that. and now Ill get $1,000 a month for the next 20 years. I already got $3,000 of it! Pleose teli me none of that is taxable? My ex-wife. Alice, is still paying me atimony. She's a lawyer who divorced me a few years ago because I was unethicat; of something Hike that: Since she was making so much money and I was unemployed at the time, the judge ruled that she had to pay me alimony. kn't that something? She sent me $3,000 in alimony payments this year, She still kind of likes mel, though; she sent me a check for 5500 as a Christinas gift this year, 11 didnt cet her anythine though? So, there you go that's this vear in a nutshell. Can you figure out iny gross income? And since youre a student, this is free, right? Thanks, I owe you one! Let me know id I can get you a sixepack of Roca Cola or something. Task Kou must cite all rehvant tax code to determine what items would be included or exichuded from gross income Pcepare vour response in a tax merno format. Ary reference to "this year" bs the current tax vear you are advising in. The memo to file is another term for documenting your work. Anytime a professional begins a project, a file should be started to document all work done, all conversations, any questions, issues researched, etc. This is the paper trail that enables a professional to ensure that he has done his due diligence when dealing with a client. The format: Memorandum to File Date: From: person doing the work Re: situation or client (Dependents, Mr \& Mrs John Smith) FACTS: In this section all FACTS are states that are relevant to the issue and necessary for analysis of the situation. ISSUES: Identify the issues that must be resolved based upon the facts stated abdve. APPLICABLE LAW: Discuss ALL those laws that relate to the facts and may impact the position taken. This includes codes, regs, rulings, court case findings and any precedent that might affect the case. It is imperative that positive AND negative laws be addressed to enable thorough analysis and selection of appropriate options. In identifying the law, present the evidence as it relates to the issues. ANALYSIS: Apply each of the identified laws to the facts and address all facets of the issues. Present each possible option with all the ramifications of each as it pertains to the situation. (it is irrelevant to discuss the regulations regarding the dependency of an elderly parent if the issue pertains to claiming a cousin residing in Uraguay) CONCLUSION: This section provides the "best fit" resolutions to the situation and may offer absolute eliminations because of legal positions BUT should not make a final selection. The purpose of this section is to provide recommended options with the supporting evidence from which the client shall determine his course of action

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