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linda_us, Master's Degree
Category: Single Problem
Satisfied Customers: 787
Experience:  A tutor for Business, Finance, Accounts and other related topics.
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You work as a tax accountant for the CPA firm of Inouye,

Customer Question

You work as a tax accountant for the CPA firm of Inouye, Shaffley & Kim. A long-term client of the firm, ***** *****ez, has a question about an antique car that he owns. It is currently insured for $50,000. Mr. Martinez would like to donate this car. However, he can’t decide whether he should donate the car to his alma mater this year (2016), or if he should keep the car and have his estate donate it to the school upon his death.Mr. Martinez wants to know the tax implications for him and his heirs with respect to both options. He is also open to any other useful suggestions regarding the donation. Mr. Martinez would also like your final recommendation to him and a clear explanation of the reasons behind your recommendation.
Submitted: 10 months ago.
Category: Single Problem
Expert:  F. Naz replied 10 months ago.


Please mention the deadline as well as is this your graded question?

Customer: replied 10 months ago.
It's for a class. I have to write a tax memo but I just need short answer. I can expand once I have the right answer. It's due in 2 hours
Expert:  F. Naz replied 10 months ago.


Do you still need the answer? and as it is for class so will it be graded?

Customer: replied 10 months ago.
I need to know the correct answer backed up by Code Section
Expert:  F. Naz replied 10 months ago.

Thanks for response, kindly let me know how much time is remaining from now onwards as well as will this home be graded or not?

Customer: replied 10 months ago.
There's no time left. I want to find out for myself. Now will you answer or just keep asking random questions?
Expert:  F. Naz replied 10 months ago.

Okay, I will answer but kindly let me know the name of your country so I can refer the laws of that country, thanks.