Corporate Tax

CORPORATE TAX RETURN PROBLEM 1 needful: * Complete Alvins practice of medicine Inc.s (AMI) 2011 mannikin 1120, Schedule D, and Schedule G (if applicable) using the information provided below. * Neither embodiment 4562 for derogation nor Form 4797 for the sale of the equipment is required. Include the amount of revenue enhancement depreciation and the tax gain on the equipment sale given in the task (or determined from information given in the problem) on the becharm lines on the first page of Form 1120. sc all(prenominal)ywag C-14 * come across that AMI does not owe whatsoever pick minimum tax. * If all information is missing, use reasonable assumptions to drive in the gaps. * The forms, schedules, and operating instructions can be build at the IRS Web rank (www.irs.gov). The instructions can be helpful in finish the forms. Facts: Alvins Music Inc. (AMI) was formed in 2006 by Alvin Jones and Theona Smith. Alvin and Theona officially collective their store on June 12, 2007. AMI sells (retail) all kinds of music-related products including musical instruments, sheet music, CDs, and DVDs. Alvin owns 60 portionage of the outstanding general stock of AMI and Theona owns the remaining 40 percent. * AMI is located at 355 Music Way, East Palo Alto, CA 94303. * AMIs Employer appellation Number is 29-5748859. * AMIs line of sell activity is retail sales of music-related products.

Its business activity law is 451140. * Officers of the corporation are as follows: * Alvin is the chieftain decision noble officer and chairman (Social Security number 123-45-6789). * Theona is the exec utive wrong president (Social Security numb! er 978-65-4321). * Gwen Givens is the vice president everywhere operations (Social Security number 789-12-3456). * Carlson Bannister is the secretarial benefactor (Social Security number 321-54-6789). * All officers devote 100 percent of their time to the business and all officers are U.S. citizens. * Neither Gwen nor Carlson owns all stock in AMI. * AMI uses...If you want to get a fledged essay, order it on our website: OrderEssay.net

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