ACCT 323 Assignment 1 : Tax Research
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ACCT 323 Assignment 1 : Tax
Research
The facts for your Tax Research
Assignment 1are as follows:
Mikki Jag is a
self-employed rock star who hires you as his new CPA to prepare his 2014
federal income tax returns, which are currently on extension. He explains that
in 2014 he spent $10,000 on special “flashy” clothes and outfits for his rock
concerts. Mikki would like to deduct the cost of these clothes as work-related
because the clothes are not acceptable to his sense of fashion on a daily
basis. He would like to know under what circumstances he can deduct the cost of
these work clothes.
Instructions:
Please research the tax law
and write Mikki a brief memo of no
more than two pages, in which you communicate the results of your research. Use the
format for communicating research findings discussed in the Learning Resources
for Week 1: “Tax Research – Federal,” and “Locating Tax Authority,” as well as
under “Syllabus and Course Schedule: Tax Research Assignment How to Complete”
in the Course Content area of LEO.
Identify relevant
statutory, administrative, and judicial authorities and discuss how these
authorities affect your conclusion concerning the deductibility of Mikki Jag’s
clothes.
*Remember: while IRS publications
are useful as secondary sources, they are not primary sources that can be cited
and relied upon in a tax research memorandum.
Your research assignment
will be graded using the following criteria:
- Recognition of the important facts and issues
- Correct conclusion
- Clarity of writing
- Proper use of relevant sources to support your conclusion and analysis.
- Proper citation of relevant sources
- Proper format, spelling & grammar
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