2ndPowerPoint(ACC600)

2ndPowerPoint(ACC600) - Tax Planning& Research Week 2...

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Unformatted text preview: Tax Planning & Research Week 2 • Research Process – 5 steps • chapter 1, pp. 9-11 • chapter 9, pp. 189-205 – discussion of the research steps but not the financial accounting example • chapter 7, pp. 148-152 Step 1 – Identify Relevant Facts & Issues • What is client’s factual situation? – listening – learning what to ask – ask more questions as research process progresses (iterative process) – both tax and nontax considerations Step 1 – Identify Relevant Facts & Issues (con’t) • Based on the facts, what are the important questions that need to be answered? – a broad question may lead to several narrower questions – fact versus law issues • diamond necklace as gift or compensation – example p. 128 – dependency example CAN I TAKE MY SON WHO IS AWAY AT COLLEGE AS A DEPENDENT FOR 2008? For Electronic Research 1. State the Issue as a Question 2. Identify the Keywords • important to the question • unique enough to narrow search 3. Construct a Research Query • using connectors (Boolean) • using wildcards • exact phrase Example A self-employed attorney incurs substantial...
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This note was uploaded on 10/06/2008 for the course ACC 600 taught by Professor Livingstone during the Spring '08 term at UNC Greensboro.

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2ndPowerPoint(ACC600) - Tax Planning& Research Week 2...

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