Order ID:89JHGSJE83839 | Style:APA/MLA/Harvard/Chicago | Pages:5-10 |
Instructions:
Kennedy Prisby donating to Presidential Election Campaign
Question Description
Kennedy Prisby, age 33, is single and has no dependents. Her social security number is 111-22-3333. Her address is 101 North Fork Ave., Cedar City, UT 84720. She has no intention of donating to the Presidential Election Campaign.
She is a professional hunting guide. In January of the current year she opened an office located at 3001 Westcliffe Dr., Cedar City, UT. She worked out of her home in prior years. She has free full-year health care coverage. The name of her business is Trophy Bucks Galore. She is a cash basis taxpayer who materially participates in her business. She is not required to file any Forms 1099. The business activity code for this activity is 114210.
During the year she recorded the following income and expenses from Trophy Bucks Galore:
Guide fees $55,000
Tips from clients $10,000
Office Rent $12,000
Supplies $3,000
Insurance $1,000
Advertising $1,500
Business Travel Meals $3,000
Business Travel lodging and transportation $5,000
This year Kennedy purchased computer equipment for $3,000 and office furniture for $5,000 for her new office. If possible, she would like to elect to immediately expense the entire cost of these items using section 179. She also has an off-road vehicle used 100% in her business. She purchased it for $20,000 and placed it into service last year. She uses the 5-year 200% Double Declining MACRS cost recovery method and the Half Year Convention to depreciate the vehicle. Last year depreciation rate was 20% and the 2nd year rate is 32%. Ignore application of any listed property limitations.
She also made estimated quarterly tax payments of $1,500 per quarter for a total amount of $6,000. If she is entitled to a refund, she would like to have it applied to her next year’s tax liability.
Kennedy’s other income includes the following. Loss from the sale of Oopsy Inc. stock. She acquired 100 shares on June 30th five years ago for $11,000 and sold the 100 shares on August 1st of the current year for $6,000. She received a 1099-B which was reported to the IRS. She received qualified dividends from Hippie Inc. in the amount of $4,000. She earned interest income from a mutual fund at FBB Bank in the amount of $3,000.
Kennedy’s personal expenses include:
Medical $2,000
Residential property tax $1,265
Mortgage interest $2,700
Church donations $2,300
REQUIREMENTS
Step 1: Tax Formula Spreadsheet. Please prepare a spreadsheet using the tax formula.
RUBRIC |
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Excellent Quality 95-100%
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Introduction
45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Literature Support 91-84 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned. |
Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met. |
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Average Score 50-85% |
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided. |
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration. |
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met. |
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Poor Quality 0-45% |
37-1 points The background and/or significance are missing. No search history information is provided. |
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration. |
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met |
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Kennedy Prisby donating to Presidential Election Campaign |
Kennedy Prisby donating to Presidential Election Campaign