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This assignment is an INDIVIDUAL assignment and due by the final day of the Modu
This assignment is an INDIVIDUAL assignment and due by the final day of the Module. Submissions should be uploaded to the dropbox in the course. Research assignments should be in proper format of a Client Letter AND Work Paper Memo. Citations needed should only be IRS PRIMARY SOURCES. Submissions that reference non primary sources cannot earn a passing score.
Hector Latrell is a client of yours who has recently come into your office to discuss tax planning for the current year. During informal conversation you learn that Hector has recently used his AAAdvantage miles to purchase a free round trip ticket to London to see a Paul McCartney concert. Hector tells you that the points accumulated to acquire this free ticket came from his business travel. After learning this, you learn that Hector was reimbursed for all travel and not taxed on the travel reimbursement.
As a CPA engaged to assist Hector in tax planning, you are obligated to advise Hector on any tax issues that may result from this free ticket to London.
Required:
1. Utilize and official tax research database to determine if any income is taxable will have to be recognized by Hector as a result of the ticket transaction.
2. Communicate your findings in a client letter to Hector, as well as a memo for the work paper file.
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