Description

TAX 655 Project Two Milestone Guidelines and Rubric

Overview

Business owners consider economic and social factors when choosing initiatives for their entities. Entities want to save tax dollars and reduce their tax liability while also considering the social implications of an incentive. Ethical considerations play a key role in determining which incentive is best for a business. As a tax associate, it is imperative to consider today’s current tax laws to best advise your clients.

This milestone will help you with Project Two as you finalize your incentive and consider how you will advise your client based on ethical considerations.

Directions

For this milestone, research two different initiatives to present to SageGreen company. Then, prepare a short memo to your manager to have them review your findings. In your 1- to 2-page memo, explain why you think these initiatives may benefit the company and the ethical considerations, including tax violations, regarding these initiatives.

Specifically, you must address the following rubric criteria:

Memo 

Discuss two new federal tax initiatives that SageGreen could add to its company for the next fiscal year. Consider the following in your overview:

Purpose or incentive

1. Government’s ideas to accomplish regarding this incentive

SageGreen’s implementation of this incentive

Summarize the advantages and disadvantages to your manager. Consider the following in your response:

1. Most beneficial to SageGreen
2. Least beneficial to SageGreen
3. Tax violations to avoid
4. Describe the ethical considerations of a tax preparer. Reference Circular 230 to support your arguments. Consider the following in your response:

Your responsibility in ethical advice

Any tax liabilities present

1. Consider how current tax laws impact this initiative. Consider the following in your response:
2. Current tax laws and impact on businesses
3. Initiative-specific regulations regarding tax law