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PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4104
Experience:  35 years tax experience, including four years at a Big 4 firm.
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I am having difficulty with an assignment. We have 2

Customer Question

I am having difficulty with an assignment.
We have 2 questions in this assignment which is Milestone 2:
1. Explain the tax effect based on providing $180,000 per year for the client’s salary and $70,000 per year for his daughter’s salary if they withdraw
cash from the business or pay dividends as appropriate.
2. Justify the percentage of ownership the client’s daughter should have in the business based on the type of business entity recommended.
Consider the tax law in reference to the recommendation and how the decision will affect the daughter’s tax return.I will attach the information for the course and we are now on Milestone 2 which you will see in the first attachment.I will also send you what I have written.
Can you help.
Thanks,
Will
Submitted: 21 days ago.
Category: Tax
Customer: replied 21 days ago.
I cannot figure out how to bring in the daughter as a shareholder as Bob will be 100% shareholder exchanging property for shares under Sec 351. I'm lost and need guidance
Expert:  PDtax replied 21 days ago.
Hi from just answer. I'm PDtax. I can assist.I'll need to ask for a price adjustment to work on both of these. Please let me know.
Customer: replied 21 days ago.
Will you be following up with a cost? Did you receive my 2 attachemnts? Thank you
Customer: replied 21 days ago.
Will you read the Milestone 2 information and also read what I have written? Thank you
Expert:  PDtax replied 21 days ago.
I reviewed the project and your response. Answering the 351 question and assisting with the remainder of the paper will take substantial time.I'll send an offer to assist once I know when you need this.
Customer: replied 21 days ago.
I hope you are not irritated but I need it by Sunday at Noon EST. It does not need to be too lengthy. I am just at an impasse and need professional guidance.
Customer: replied 21 days ago.
One other question. If Bob, the guy in the assignment, were to exchange property for shares with an installment obligation, would this be a way for him to slowly pay any capital gains over, say a 10-year period, as he increases his daughter's share in the business? Thank you
Customer: replied 21 days ago.
PDTax, All I need to do is answer Milestone 2 questions: Explain the tax effect based on providing $180,000 per year for the client’s salary and $70,000 per year for his daughter’s salary if they withdraw
cash from the business or pay dividends as appropriate.
E. Justify the percentage of ownership the client’s daughter should have in the business based on the type of business entity recommended.
Consider the tax law in reference to the recommendation and how the decision will affect the daughter’s tax return.
Customer: replied 21 days ago.
Memorandum D and E only, not the entire assignment. The assignment is broken up into Milestones. This is Milestone 2
Expert:  PDtax replied 21 days ago.
In order to help you by Sunday I have to work up much if not all of the project over the weekend. I need $375 more to assist.If that's agreeable, I'll prepare an offer to be accepted today.PDtax
Customer: replied 21 days ago.
We are only answering D and E in the memorandum
Explain the tax effect based on providing $180,000 per year for the client’s salary and $70,000 per year for his daughter’s salary if they withdraw
cash from the business or pay dividends as appropriate.
E. Justify the percentage of ownership the client’s daughter should have in the business based on the type of business entity recommended.
Consider the tax law in reference to the recommendation and how the decision will affect the daughter’s tax return.
Expert:  PDtax replied 21 days ago.
I can't do those parts without a review and analysis of the earlier parts. I saw items to adjust in my preliminary reading.We do not seem to come to a meeting of the minds on scope, so I will opt out.
Customer: replied 21 days ago.
My apologies, PDTax. I understand. If you can help me by this Sunday at Noon EST, I will accept, My apologies. I would like your help and expertise if you are still willing.
Expert:  PDtax replied 21 days ago.

Hi again. PDtax here.

This looks like a big project to get to where I can assist. Hence the price.

I'll try to post the offer. No luck yet.

Customer: replied 20 days ago.
Thank you, ***** *****'ll accept the offer. Please help me to understand by explaining it to someone who is learning all this and not an expert in the field. I wish the Instructor would break some of this down and guide us more. Will
Customer: replied 20 days ago.
In your response, if you will explain all this so that I, as a novice and learner, I can understand it, it will be worth the offer as it is for the sake of learning. I want to learn and understand this and I know your expertise will be worth every dollar.
Expert:  PDtax replied 20 days ago.

I'm unable to post an offer of premium service at my end.

I'll let customer service know of the issue.

Customer: replied 20 days ago.
OK, do you think you'll be able to help me once they fix the software issue? Thank You, Will
Expert:  PDtax replied 20 days ago.

I don't want to leave you hanging, and there's time to assist. Let's give Customer service until 2 pm EST to fix the premium service issue.

Customer: replied 20 days ago.
Thank you very much, PDTax, for sticking by me here.......Much appreciated
Expert:  PDtax replied 20 days ago.

It's after 2 PM EST. I'll let customer service know again.

Customer: replied 20 days ago.
OK, thank you.......Appreciated
Customer: replied 20 days ago.
Do you need me to call?
Customer: replied 20 days ago.
I guess I cannot pay you direct with a credit card???

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