Tax Periods and Method
Imagine that you have always wanted to own a business and
have now created a new start-up company.
Minimum 8 pages:
1.Analyze the start-up company you created. Include in your
analysis the type of company you have created, its business objectives, and
other factors that you believe are important to the success of the business.
2.Determine the types of accounting periods that you could
choose from for the company. Choose the type of accounting period that would
provide the greatest tax benefit. Provide example(s) to support your proposal.
3.Evaluate the appropriateness of the types of accounting
methods that would be available for your business. Recommend the method that
would minimize the tax liabilities for the company. Provide support for your
4.Choose at least two (2) specific transactions, and then
propose one (1) special accounting method which your company would use to
account for these transactions. Indicate any significant tax consequences that
may result from the method you proposed.
5.Imagine you have decided to change the accounting method
you chose after three (3) years in business, as you have discovered that
another method would be more advantageous from a tax perspective. Analyze the
rules regarding changes in accounting methods. Create a table that illustrates
the effect on taxable impact for three (3) of your business’s unique
6.Develop an argument that supports your proposed accounting
method change. Create a letter to the IRS to justify your position.
7.Use at least three (3) quality references. Note: Wikipedia
and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
•Be typed, double spaced, using Times New Roman font (size
12), with one-inch margins on all sides; citations and references must follow
APA or school-specific format. Check with your professor for any additional