Introduction:
For next three weeks, you will be assigned to one client, Mike’s Sporting Goods. All of the information you need to provide Mike with exceptional tax preparation services will be provided to you separate emails (Appendices below).
My expectations regarding this task in the Corporate Taxation Department are also provided below. Please don’t hesitate to get in touch if you run into any problems. I am here to help you succeed here at Tax Pros CPA Firm.
Steps to Completion:
Research Tax Topics
Step 1: Review:
Read through all of the appendices (A-G) below. As you read through the information about the client, keep in mind all you have learned so far.
Step 2: Research:
On the IRS Website, find and print the most recent Form 1120 and instruction.
Step 3: Complete Form 1120 (and all accompanying forms) for
Mike’s Sporting Goods, for the most recent completed year (e.g., if you are taking the course in 2019, assume you are doing it for 2018, and use 2018 forms, etc.). NOTE: To complete Form 1120, you will be required to complete other forms. See IV. Deliverables below for a list
See Appendix A – G
Step 4: ProConnect Tax Software
Enter all of the client information included in Appendix A – G in ProConnect.
IV. Deliverables:
Form 1120
Schedule G
Form 1125-E
Form 5884
Schedule D: Net Long-Term Capital Gains or Losses
Form 8949: Totals for Proceeds, Basis, & Gain/Loss
Form 1125-A: Total for Cost of Goods Sold
Form 3800: General Business Credit: Credit Allowed for the Current Year
ProConnect Tax Software tax forms