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I am having difficulty with an assignment. We have 2

Customer Question
I am having difficulty with...
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: 1 year ago.Category: Tax
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Customer reply replied 1 year 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
Answered in 25 minutes by:
11/18/2016
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 1 year ago
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4,773
Experience: 35 years tax experience, including four years at a Big 4 firm.
Verified
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.
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Customer reply replied 1 year ago
Will you be following up with a cost? Did you receive my 2 attachemnts? Thank you
Customer reply replied 1 year ago
Will you read the Milestone 2 information and also read what I have written? Thank you
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 1 year 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.
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Customer reply replied 1 year 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 reply replied 1 year 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 reply replied 1 year 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 reply replied 1 year ago
Memorandum D and E only, not the entire assignment. The assignment is broken up into Milestones. This is Milestone 2
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 1 year 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
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Customer reply replied 1 year 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.
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 1 year 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.
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Customer reply replied 1 year 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.
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 1 year 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.

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Customer reply replied 1 year 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 reply replied 1 year 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.
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 1 year ago

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

I'll let customer service know of the issue.

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Customer reply replied 1 year ago
OK, do you think you'll be able to help me once they fix the software issue? Thank You, Will
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 1 year 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.

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Customer reply replied 1 year ago
Thank you very much, PDTax, for sticking by me here.......Much appreciated
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 1 year ago

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

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Customer reply replied 1 year ago
OK, thank you.......Appreciated
Customer reply replied 1 year ago
Do you need me to call?
Customer reply replied 1 year ago
I guess I cannot pay you direct with a credit card???
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PDtax
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4,773
4,773 Satisfied Customers
Experience: 35 years tax experience, including four years at a Big 4 firm.

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