Compute the property disposition capital gains and taxation of gross income.

In this milestone, you must first compute the property disposition capital gain and taxation of gross incomefor the client described in the final project data sheet.

Then, in a memorandum you write to the client, explain the tax consequences ofthe possible sale or exchange of the land.

Don't use plagiarized sources. Get Your Custom Essay on
Compute the property disposition capital gains and taxation of gross income.
Just from $13/Page
Order Essay

Base your explanation on your computations and relevant sections of the Internal Revenue code, including the impact on cash flow and salary or cash distributions.

Specifically,the following critical elements must be addressed:

A.Compute the property disposition capital gains and taxation of gross income.

B. Identify the tax consequences on the sale or exchange of the land consistent with capital gain rules.

Consider the selling expense, broker’s fees, closing costs, appraisals, and surveys and the correct schedule form to complete.

C. Describe the after-tax effects on the client’s cash flow based on the sale of the land. Reference appropriate capital gains tax rules.

D.Explain whether or not the client and his child should take a salary or cash distribution according to tax purposes and Internal Revenue Code and Treasury regulations.

Consider the type of business and the tax effect whether it is salary, dividends,or cash withdrawal

Place Order
Grab A 14% Discount on This Paper
Pages (550 words)
Approximate price: -
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Try it now!

Grab A 14% Discount on This Paper

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.