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Scott, MIT Graduate
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hi can you please help me with this please 10-18 slides with

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hi can you please help me with this please 10-18 slides with 200-400 words speaker notes per slide Details: You will analyze the 2008 performance of Jefferson Industrial Machine by using their 2008 financial statements, and prepare the company's 2008 tax return. Click below to access Jefferson Industrial Machine's 2008 financial statements. Download Jefferson Industrial Machine 2008 financial statements. Download Blank Tax Forms (group_blank_f1120). Individual Portion complete, analyze and become an expert in at least 1 schedule of the tax return. Understand which financial statement the tax return information came from to reconcile the financial statements to the tax return. Complete 1 part of the tax return Explain where the information is found to complete that particular form or schedule. Submit the form or schedule prepared with a Word document explaining how you prepared it. Based on the information in the tax return and financial statements, put together a presentation for management regarding the 2006 tax return and the consolidated financial statements for JIM. Include the following forms: 1120 Schedules, A, J, K , L, M-1, M-2, M-3 the financial results for 2008 the 2008 tax return Discuss the company's performance, its tax issues, and recommendations for future tax savings. Objective: Analyze the tax consequences of financial and operational decisions in short-run and long-run models. Use team, problem-solving skills and effective communication techniques to collaborate on a project. Instructor Comments: @font-face { font-family: "Times"; }@font-face { font-family: "Cambria"; }p.MsoNormal, li.MsoNormal, div.MsoNormal { margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: "Times New Roman"; }div.Section1 { page: Section1; } Hi. As you submit the group project, please remember the below that must be submitted in order to earn credit: Scenario: Jefferson Industrial Machine (JIM) is incorporated in the United States as a subchapter C corporation. JIM owns a wide variety of manufacturing companies that make industrial machinery in the U.K. and the United States. You are JIM's corporate tax and financial analyst. Your responsibilities include the following: providing the tax related information for the JIM's consolidated financial statements analyzing business strategies from a tax perspective and advising management of the tax implication of their strategic decisions for both the short-term and long-term the handling of all of the day-to-day tax related issues, liabilities, and payments, including employee compensation, benefits, and pensions JIM uses a hybrid accounting method, which in this case includes accrual for gross profit and cost of goods sold and cash for all other income and expenses. JIM's strategy is to grow the company through internal growth and acquisitions. Currently, JIM is looking at a vertical integration strategy that would lower the cost of currently purchased component parts. Mason Machining, Inc. is currently a supplier to JIM. It is a U.S. subchapter S corporation that manufactures component parts used in industrial machinery. Mason Machining, Inc. is a closely held family S corporation. JIM is offering the family $750,000 plus $800,000 in common stock to acquire all the assets of Mason. You are a member of JIM's acquisition team assigned to review the tax implications of the acquisition. Click below to view Mason's acquisition data that has been put together based on Mason's 2007 and 2008 actual performance. Download Mason Machining, Inc. acquisition data. Click below to view the consolidated financial statements for Jefferson Industrial Machine for year ending 2008. Download Jefferson Industrial Machine financial statements. Presentation Presentation: Financial and Operational Effects Introduction Tax accounting information is used to determine financial and operational effects of business decisions in forming a corporation, its capital structure, consolidating its returns, and liquidation. Forming a Corporation The decisions surrounding forming a corporation include, but are not limited to, the following: How should property be transferred to the corporation—by sale, contribution to capital, or a loan? What property should be transferred to the corporation? What liabilities should be transferred to the corporation? Each of these decisions has tax consequences to the corporation and the individual making the transfer. Capital Structure When a corporation is formed, decisions must be made as to the capital structure of the corporation. It may get its capital from shareholders, non-shareholders, and creditors. Shareholders may receive common stock or preferred stock, non-shareholders may receive special considerations in the form of employment or pricing on the company's products, and creditors receive short-term or long-term debt obligations. Each of these has its tax consequence to the corporation and the individual. Because interest payments
Submitted: 4 years ago.
Category: Homework

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