Prepare a 2-3 page paper (approximately 350 words per page) Question: Prepare a 2-3 page paper (approximately 350 words per page) explaining the following to the Erbs:

Why can't you give them a refund?

How was their refund/taxes due calculated?

Why are they or why are they not subject to the AMT?

Grading Rubric Category Description Comprehension Demonstrate a strong grasp of the problem at hand. Demonstrate an understanding of how the course concepts apply to the problem. Analysis Apply original thought to solving the business problem. Correctly apply concepts from the course material toward solving the business problem. Execution Write your answer clearly and succinctly using strong organization and proper grammar. Use citations correctly. Total A quality paper will meet or exceed all of the above requirements. .;/l ACCT224 Week 2 - You Decide ACCT224_W2_YouDecide_Transcript.docx

Page 1 Scenario:

"Youve just gotten the kindest call from Eric, and you're becoming convinced that he's not just saying it knowing how much work you're going to have on your plate thanks to his son. In fact, he's asked you to dinner this Friday. You realize you need to stop daydreaming about your high school crush and focus on Jackson and Kara's visit later today. Your Role Jackson will be bringing the information you asked him to provide in order to accurately do his taxes for last year. You also expect Kara to have some questions given the conversation you had during last week's meeting. You remind yourself that you need to be patient with themnot just because you want to make sure they say good things about you to Ericbut because they're clients. As you have learned, patience and kindness has been the key to your business success.

"Transcript

(you) Peggy Sue: Come in! Please have a seat! Oh, a baby! Your dad didnt mention that he was a grandpa! How old is she? Kara: She was born on December 31 just before midnight after 48 hours of labor.

Peggy Sue: Well, shes gorgeous! You must be so proud!

Jackson: Yeah, she is cute in a crinkled sort of way.

Kara: (interrupting) We brought that form in that says how much money he made last year.

Peggy Sue: Great! Thats called a W-2. Jackson: My dad has to pay something called Alternative Maximum Tax. Do I have to pay that too?

Kara: Jackson thats the Alternative Minimum Tax. (Rolls eyes)

Peggy Sue: No, I dont believe you will owe that tax, but Ill explain that to you when I complete the preparation of your tax return.

Jackson: Okay, can you write me a check for my refund today?

Kara: Yes, that would be great. Jackson wants to buy a new motorcycle with a side car for baby Mackenzie.

Peggy Sue: Uh.it will take me a day to prepare your tax return. Can you come back tomorrow and pick it up?"