Unformatted text preview: 8. whether the transaction is proposed or completed (has already happened!) Biggest Problem in STEP 1?: Client will OMIT important information that is vital to the solution. It is important to dig until ALL “material” facts are known. Pay attention and record ALL details a client discloses. NON-Tax information A “MATERIAL” fact is a fact that if know “MIGHT” make a difference in the tax advice. 2. Identify the Issues 3. Locate the Authority 4. Evaluate the Authority 5. Develop Conclusions and Recommendations 6. Communicate the Recommendations...
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- Spring '11
- marginal tax rates, tax identity- Individual, Significant tax facts, special tax rules