P3 Letter (Final) - Spano and Partners CPA 5050 Billpoint...

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Spano and Partners, CPA 5050 Billpoint Ave. Beverly Hills, CA 90210 November 24, 2010 Mr. Robin Maxwell 7800 Industrial Parkway Chicago, Illinois, 78564 Dear Robin: Thank you for allowing me to look over your 2009 Corporation Income Tax Return. Included with this letter are all the required forms needed to file your corporation’s (Micro Net Corp.) 2009 tax return. The forms comprise of Form 1120 (Schedule A through M-2); Schedule D; Form 4562; and Form 7497. Also included is your 2009 personal tax liability computation (Married filing jointly with the standard deduction). Please safeguard all of these forms in a secure place for your future reference use. Let me briefly explain the outcome of your 2009 corporation’s tax return. Unfortunately, you will owe a total of $496.52. This number was calculated by subtracting your total tax liability (Schedule J on Form 1120) from your Federal Income Tax per books. On a good note, you will not have any excess carryovers for the following years. This means you had no Net Capital losses in excess in Net Capital gains. Also, you have no charitable
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