In this course, you will assume the role of a domestic violence victim advocate. Consider the scenario of the King family. For the Key Assignment, you will draft a memo to your supervisor, detailing what would be the best possible intervention options for the King family. The memo will include the following components:Identify the key risk factors in the familyThe DV phase the family is currently in based on the cycle of DVA discussion of the teen dating violence experienced by AshleyThe ramifications of DV on Aaron’s behavior and criminal caseAmy King, 38, and Marty King, 42, are a married couple of 19 years with two teenage children: Ashley, 15, and Aaron, 17. The family resides in a middle-class community in suburban Chicago. Amy is a stay-at-home mother, while Marty is the manager at a popular local restaurant. For the last 15 years, the family has struggled financially. Amy has attempted to obtain employment on numerous occasions, but each time she gets a new job, she has to leave the employment within a few weeks citing the need to “take care of personal matters.” Marty handles the family finances and keeps a tight reign over spending.For several years, there have been allegations of domestic violence in the home in varying forms. Amy has had numerous injuries, including the following:Black eyes Bruising Broken arm (spiral fracture) Concussion BurnsThe alleged perpetrator of the injuries is Amy’s husband, Marty. Both Amy and Marty have significantly downplayed the amount of violence in the home to concerned family and friends, who rarely get to see Amy and the kids. The only real contact the extended family has with the Kings is during the holidays. The police are very familiar with the King family, because there have been no less than 10 domestic violence calls to the home since 2000. Usually when the police come to the home, no arrests are made; however, in 2010, Marty was charged with domestic battery against Amy. With the assistance of her family and a victim advocate, Amy and the kids moved out of the home and filed an order of protection against Marty. However, Amy failed to appear in court, and the court dismissed the order. The criminal case was also dismissed. A few months later, Amy and the kids moved back into the family home.In addition to the intimate partner violence in the home, Amy and Marty are faced with criminal charges being filed against their son, Aaron. Aaron was involved in a fight at school that resulted in the other student being hospitalized. Aaron was arrested for battery and is awaiting trial in juvenile court. Aaron presents as a very angry young man with multiple discipline issues in school and poor academic performance. Aaron has also presented at school with bruises to his face, which he states are caused during fights with peers.The Kings’ daughter Ashley is a good student, a member of the track team, and is dating a fellow student, Jake. Ashley and Jake are inseparable, and Ashley’s parents have been concerned that Ashley spends too much time with Jake and that Jake is very controlling over Ashley. Marty recently forbid Ashley from spending any more time with Jake, but Ashley is defiant. She tells Marty and Amy that Jake is the only one who loves and understands her and that Jake needs her. Ashley has also had bruises to her neck and arms that she reports as track accidents. Aaron reports to his mother that he has seen posts on social media sites where Jake has made troubling comments about Ashley.

Project 3: Corporate TaxationIntroduction:For next weeks, you will be assigned to one client, Mike’s Sporting Goods. All of the information you need to provide Mike with exceptional tax preparation services will be provided to you separate emails (Appendices below).My expectations regarding this task in the Corporate Taxation Department are also provided below. Please don’t hesitate to get in touch if you run into any problems. I am here to help you succeed here at Tax Pros CPA Firm.Steps to Completion:Research Tax TopicsStep 1: Review:Read through all of the appendices (A-G) below. As you read through the information about the client, keep in mind all you have learned so far.Step 2: Research:On the IRS Website, find and print the most recent Form 1120 and instruction.Step 3: Complete Form 1120 (and all accompanying forms) forMike’s Sporting Goods, for the most recent completed year (e.g., if you are taking the course in 2019, assume you are doing it for 2018, and use 2018 forms, etc.). NOTE: To complete Form 1120, you will be required to complete other forms. See IV. Deliverables below for a listSee Appendix A - GStep 4: ProConnect Tax SoftwareEnter all of the client information included in Appendix A – G in ProConnect.IV. Deliverables:Form 1120Schedule GForm 1125-EForm 5884Schedule D: Net Long-Term Capital Gains or LossesForm 8949: Totals for Proceeds, Basis, & Gain/LossForm 1125-A: Total for Cost of Goods SoldForm 3800: General Business Credit: Credit Allowed for the Current YearProConnect Tax Software tax formsMake sure you include all schedules that the forms ask for, includingany working papers for any calculations.V. Hints and Tips:Ask your supervisor (professor) questions as needed.Submit the project before it is due.VI. Rubric:CriteriaExceeds Performance Expectations30 pointsMeets Performance Expectations26.67 pointsDoes Not Meet Performance Expectations0 pointsCorrect FormsThe correct forms are used, easy to read and understand. Anything requiring labeling are properly labeled. The work has a professional appearance.The correct forms are used, mostly easy to read and understand. Anything requiring labeling are properly labeled. The work has a somewhat professional appearance.The correct forms are not used and/or are not easy to read and understand. Proper labels missing. The work appeared unprofessional. Or did not submit.Accuracy of numbersAll numbers on the are accurate and in the correct place.Most of the numbers on the work are accurate and in the correct place.Most of the numbers on the work are inaccurate and/or are in the wrong place. Or did not submit.Understanding of TopicIndicates an exceptional understanding of the topic, connecting it with our readings or other sources.Indicates a satisfactory understanding of the topic.Indicates a limited understanding of the topic, reflecting what other students have already posted or repeating information that was in the assigned reading. Or did not submit.Overall ScoreExceeds Performance Expectations90 or moreMeets Performance Expectations80 or moreDoes Not Meet Performance Expectations0 or moreAppendix A: Client General InformationAs the newest member on the corporate tax department team, the senior partner assigns you to prepare corporate tax returns for Mike’s Sporting Goods, Inc. for the most recently completed calendar year (the company uses a calendar year for tax filing).Mike’s Sporting Goods, Inc., is a Maryland C-Corporation that sells athletic shoes and clothing to sports teams at the college level. The company was originally started by Mike Jones and three guys he met while attending UMUC, all of whom were state champions in various sports. Juan Delaross was a swimmer who won the state championship with his killer butterfly stroke in the 100-meter fly. Elroy Mulcane was the college champion in golf and Scott Barnett was the state cycling champion three years in a row. Mike won the state championship as a sprinter all four years of college.Starting the company was Mike’s idea, he owns the largest percentage of stock, and is the only owner who works in the business. The other three investors brought money to the table, but never planned on working in the sporting goods store. Therefore, no one questioned Mike when he suggested naming the corporation Mike’s Sporting Goods, Inc. In addition, Mike has always had a strong desire to be known as the big guy on campus even after graduation.LocationAs the old saying goes, Location, location, location. Luckily, Juan is a commercial real estate broker with a reputation for finding the perfect location for small businesses. After showing the location to the other investors, everyone agreed it would attract their target market of young athletic enthusiasts. As corporate officers, Mike and Juan signed a ten-year lease that required $9,200 per year in rent.The building was built just a few years ago, so minimal expense was projected for maintenance and repairs. For last year, Mike kept repairs expense down to $800, which really pleased Juan, Elroy, and Scott.Corporate investmentsFor last year, Mike’s Sporting Goods, Inc. received the following investment income:Interest from its own Accounts Receivables = $1,500Interest from corporate bonds = $4,000Interest from tax-exempt state bonds = $5,000Dividends from various U.S. corporations = $10,000Mike’s Sporting Goods, Inc. owns 20% of the stock of one corporationSince Mike’s Sporting Goods, Inc. did not have a net operating loss, its only entry on line 29 is the dividends-received deduction of $8,000 from Schedule C, page 2.Year-end 20X5, includes a $3,600 capital loss from the sale of securities.Revenue from SalesThe corporation, which uses an accrual basis of accounting on a calendar year, brought in $2,010,000 in gross sales in 20X5. Just less than 1% of gross sales were returned, thus bringing net sales to $1,990,000. Thanks to Mike’s purchasing savvy, cost of goods sold was $1,520,000, which is less than the industry standard of 80% of sales.Other Expenses:AdvertisingWhile the stockholders had intended on spending more on advertising, Mike only spent $8,700 and most of it was in Website development.Bad debt expenseThe corporation uses the specific account write off method for uncollectible accounts receivable. A total of $1,600 in accounts receivable were written off in 20X5.Charitable contributionsDuring the year, Mike’s Sporting Goods, Inc. contributed $11,400 to the UMUC Traveling Athletes Fund and $12,600 to the UMUC Athletic Scholarship Fund.DepreciationOn Line 8(a) of the Schedule M of the 1120, Mike’s Sporting Goods, Inc. reports the difference between the depreciation claimed on the tax return and the depreciation shown on the corporation's books.Total depreciation from Form 4562 (not illustrated) is $17,600. $12,400 is included as cost of goods sold in Line 5 of the Form 1125-A. Enter the balance of $5,200 on line 20. Book Depreciation is $15,980.Interest expense:Mike’s Sporting Goods incurs interest expense on debt to finance operations and to buy investments when a deal is just too good to pass up. Elroy is a securities broker with a national brokerage firm therefore he handles all corporate investments. For last year, the corporation accrued $27,200 in interest expense plus $850 in interest on notes used to carry tax-exempt state bonds.SalariesWhen the corporation was first formed, the four corporate officers agreed to keep their salaries low for the first five years to allow the business to grow. Thus, they agreed to pay Mike $55,000 per year, since he will manage the store, and $5,000 per year to the other stockholders. Thereby, total officers’ salaries will be $70,000 per year for the first five years. Hint: use Schedule E.Since Mike will be handling the ordering, inventory management, and other administrative tasks, all employees will be in sales. Given the nature of sporting goods stores, everyone agreed the staff should be college students currently attending UMUC. Their goal was to keep wages below $50,000 per year. For last year, Mike managed to keep total wages at $44,000.All other expensesAll other expenses of operating Mike’s Sporting Goods, Inc. total $78,300. These expenses include legal fees, office expenses, and sales commissions. Attach a schedule that itemizes these expenses to the return.Taxes and creditsTaxes:At December 31, of last year, the corporation had $55,387 in accrued federal income taxes.Mike’s Sporting Goods made four estimated tax payments totaling $69,711 as follows:$17,280 on April 15 of last year$17,280 on June 15 of last year$17,280 on September 15 of last year$17,871 on January 15 of the current calendar year as an estimate for last year’s tax liability.See the cancelled checks in Appendix F.Tax Credits:The work opportunity credit is an incentive to hire persons from groups with a particularly high unemployment rate or other special employment needs. Given the high unemployment rate of college students, Mike’s Sporting Goods, Inc. is eligible for a $6,000 work opportunity credit based on 24,000 hours of work. Hint: use Form 5884. The credit will then carry over to the Schedule J of the 1120.Reconciling Book to Return:Mike’s Sporting Goods, Inc. has the following non-deductible expenses on its Income Statement Per Books:Premiums paid on term life insurance on corporate officers$9,500Interest paid to purchase tax-exempt state bonds850Nondeductible contributions500Reduction of salaries by work opportunity credit 6,000Total$16,850Deductible state and local taxes (not federal income tax) totaled $15,000If Mike’s Sporting Goods, Inc. owes income tax, the corporation will mail a check; if, otherwise, credit any overpayment to next years estimated taxes.Appendix B: Corporate Ownership InformationCorporate NameMike’s Sporting Goods, Inc.Social Security #Ownership %Corporate Address422 Bruce LaneAnnapolis, MD 21401Federal Tax ID52-9746858Corporate officers:President/CEOMichael S. Duke585-11-471140%Vice PresidentJuan Delaross247-88-789620%TreasurerElroy Mulcane585-85-121220%SecretaryScott Barnett555-11-474120%Appendix C: List of select Accounts and Balances per BookPartial Trial Balance of Revenues and Expenses per Book (financial-basis, not tax basis). Account balances may or may not be reported on Form 1120. Hint: You will need these items to prepare Schedule M of the 1120.AccountDebitCreditAdvertising8,700Bad debts1,600Charitable Contributions to Not-for-Profit organizations24,000Charitable Contributions to political campaigns 500Compensation of officers70,000Cost of goods sold1,520,000Depreciation--indirect3,580Dividends received10,000Federal income tax accrued55,387Interest expense on note to buy tax-exempt state bonds850Interest expense on note to buy corporate bonds27,200Interest income on tax exempt state bonds5,000Interest income on taxable corporate bonds5,500Loss on securities3,600Maintenance and Repairs800Net income per books after tax 147,783Other expenses of operations78,300Premiums on life insurance9,500Proceeds from life insurance9,500Rental expense9,200Salaries and wages--indirect44,000Sales - gross$2,010,000Sales returns and allowances20,000Taxes15,000Total$2,040,000$2,040,000Appendix D: Income Statement per BooksIncome Statement per Book (financial, not tax)Mike’s Sporting Goods, Inc.Income Statement (per Books)Revenue:Gross sales$ 2,010,000Less: Returns & allowances20,000Net sales1,990,000Cost of goods sold1,520,000Gross Margin470,000Operating expenses:Advertising8,700Bad debt1,600Charitable contributions:Deductible24,000Non-deductible50024,500Depreciation3,580Equipment rental9,200Life insurance9,500Maintenance & repairs800Officers compensation70,000Salaries and wages44,000Total operating expenses171,880Operating Income298,120Other revenue and gains:Dividend income10,000Interest income: Maryland bonds5,000Interest income: All other bonds5,500Proceeds from life insurance9,500Total other revenue and gains30,000Other expenses and losses:Accrued federal income taxes55,387Other operating expenses78,300Loss on investments3,600Total other expenses and losses137,287Total income before interest and taxes190,833Interest expense on note to purchase tax-exempt bonds850Interest expense on all other notes27,20028,050Income before tax162,783Less: Income tax15,000Net income per books after tax147,783Appendix E:Mike’s Sporting Goods, Inc.Balance Sheet per BooksAs of December 31, of Previous Two Completed YearsTwo Years PreviousLast YearAssetsCash14,70028,331Accounts receivable (net)98,400103,700Inventory126,000298,400Tax-exempt securities100,000120,000Other current assets26,30017,266Other investments100,00080,000Buildings272,400296,700Accumulated depreciation88,300184,100104,280192,420Land20,00020,000Other assets14,80019,300Total assets684,300879,417Liabilities & Stockholder’s EquityAccounts payable28,50034,834Notes payable (short term)4,3004,300Other current liabilities6,8007,400Notes payable (long term)176,700264,100Stockholder’s EquityCommon stock200,000200,000Retained earnings: Appropriated30,00040,000Retained earnings: Unappropriated238,000328,783Total liabilities & Stockholder’s equity684,300879,417Appendix F: General Ledger: Retained Earnings (T-acct)General LedgerRetained Earnings AccountExplanations:DebitsCreditsExplanations:Contingencies10,000238,000Beg balanceAccrued income tax55,387203,170Net Income before taxDividends paid65,00018,000Income tax refundEnding balance328,783Appendix G: Canceled checks16