Order now
     

List the allowable expenses

No plagiarism will be accepted!!  Paper requires APA 6th ed. format (title page, abstract page, in-text citations and reference page).

 

Delivery length is 2 body pages (meaning 5 total pages) plus a completed Schedule A 

 

ASSIGNMENT

A staff tax accountant has come to you for advice. She has begun a tax return and does not know what to do with the expenses that the client has submitted as itemized deductions. She is unsure which expenses are allowable and should be included on her Schedule A. Review the expenses submitted by the client below. (Note: The client’s AGI is $45,000.)

Client submitted expenses:

Personal property taxes

$ 500

Reimbursed health insurance premiums

$ 1,500

Charitable contributions (cash only)

$ 200

Prescriptions

$ 150

Mortgage interest

$ 3,850

Contact lenses

$ 200

State income taxes withheld

$ 1,675

Unreimbursed medical expenses

$ 875

Services provided to a qualified nonprofit

$ 1,000

Real estate taxes

$ 850

Using the client submitted expenses above, complete the following:

  • List the allowable expenses.
  • Assist your staff with the completion of the Schedule A tax form for the most recent tax year.
  • For each expense not allowed, please explain why it is disallowed.
To obtain the most recently revised Form 1040 (Schedule A), follow these instructions:
  1. Go to http://www.irs.gov/app/picklist/list/formsInstructions.html
  2. In the Find box, type 1040 (in product number) and click “Find”
  3. Scroll down to Form 1040 (Schedule A&B), titled Itemized Deductions and Interest & Ordinary Dividends
  4. Complete Schedule A only. You do not have to complete Schedule B.

Place a similar order with us or any form of academic custom essays related subject and it will be delivered within its deadline. All assignments are written from scratch based on the instructions which you will provide to ensure it is original and not plagiarized. Kindly use the calculator below to get your order cost; Do not hesitate to contact our support staff if you need any clarifications.

Type of paper Academic level Subject area
Number of pages Paper urgency Cost per page:
 Total:

Whatever level of paper you need – college, university, research paper, term paper or just a high school paper, you can safely place an order.