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Project Two Module 7 Tax Planning

Project Two Module 7 Tax Planning


In this project, you will demonstrate your mastery of the following competency:

  • Apply tax laws, regulations, and codes to tax planning
  • Present tax positions and relevant research to stakeholders 


As a new junior accountant, your firm requests that you spend time interacting with clients on a one-on-one basis, including discussing results of prepared tax returns. This allows clients the opportunity to ask questions and to better understand their tax situation. You have been provided with several client files to review and will select one set of prepared tax returns to analyze from Client Tax Profile B found in the Supporting Materials section below. You will also be given tax planning scenarios within each client’s profile to compare. You began this work when you completed Module Six Case Study.

To gain practical experience in completing this task, you will present your analysis of each return and applicable tax planning scenario to a senior manager within the firm. In your presentation, you will explain the types of federal law sources used to prepare the return and the tax position(s) taken. In addition, you will address any tax planning considerations for the client, including identifying research necessary to make favorable suggestions and addressing the potential for tax avoidance or tax evasion based on the clients’ request to modify their current tax situation.

Instead of an in-person presentation, you will record a presentation using Bongo. You will prepare PowerPoint slides with images and content to present research completed for this project, the makeup of the client’s current tax position, and tax planning suggestions to assist the client in the future, as well as verbally showcase those slides in your Bongo presentation. You will include detailed speaker notes highlighting the important points you want to emphasize regarding the client’s current tax position and suggested tax planning.


Specifically, you must address the following rubric criteria:

  1. Explain the federal tax law sources used in each of the prepared tax returns. Include the following:
    1. IRC code
    2. Tax tables
    3. 1-2 slides
    4. Speaker notes
  2. Explain the filing requirements for the tax position taken in each of the prepared tax returns. Include the following:
    1. Filing status
    2. Qualifying dependents/relatives claimed, if applicable
    3. 1-2 slides
    4. Speaker notes
  3. Explain taxable and non-taxable income. Consider the following:
    1. Taxable sources of income
    2. Profiles with non-taxable income
    3. Non-taxable income qualifications
    4. Reporting of non-taxable income
    5. 1-2 slides
    6. Speaker notes
  4. Justify deductions taken in each of the prepared tax returns. Consider the following:
    1. Standard versus itemized deductions
    2. Deductions taken on prepared returns
    3. 1-2 slides
    4. Speaker notes
  5. Evaluate tax credits applied in each of the prepared tax returns. Consider the following:
    1. Applicable credits taken
    2. 1-2 slides
    3. Speaker notes
  6. Describe client profiles to assist with tax planning preparations. Include the following:
    1. High-level points from the profile(s) to determine clients’ goals
    2. Relevant factors that could impact the tax planning process
    3. 1 slide
    4. Speaker notes
  7. Identify research necessary to find applicable tax planning solutions for the clients in each scenario. Include the following:
    1. Methods for assessing the client’s tax situation for future tax planning
    2. Sources applicable to tax year in question to answer tax questions for the client’s scenario
    3. Income limitations (i.e., earned income, income thresholds)
    4. Decisions for any dependents
    5. 1 slide
    6. Speaker notes
  8. Describe the difference between tax avoidance and tax evasion in addressing the client profiles. Include the following:
    1. How tax planning can help reduce tax liability in a legal way
    2. What would be considered tax evasion
    3. 1 slide
    4. Speaker notes
  9. Evaluate benefits of tax planning for the clients. Include the following:
    1. How to minimize tax liability to improve clients’ future tax situation
    2. 1 slide
    3. Speaker notes
  10. Create tax planning recommendations based on client profiles. Include the following:
    1. Steps that will improve tax position based on each client’s goals (i.e., applicable tax planning solutions)
    2. Suggestions of how clients can do their taxes differently over the coming year to achieve their goals (i.e., changes that could be made to implement a tax planning strategy not currently applicable)
    3. Examples of how clients can improve tax position for the upcoming year
    4. 2-4 slides
    5. Speaker notes

Bongo Auto Analysis is a tool that rates your video content for clarity, use of filler words, and speaking rate. Using this feature is optional for this assignment. You may, however, want to use it to get immediate feedback on your work, which you can then revise and submit. 

What to Submit

To complete this project, you must submit the following:

Tax Position PowerPoint Presentation/Bongo Recording 

  • Using the Project Two template, produce a presentation using MS PowerPoint. Include at least 11–15 slides. Sources should be cited according to APA style.
  • Record narration of your completed PowerPoint presentation using Bongo.

Speaker Notes
Include a Word document of Speaker Notes and the PowerPoint Presentation in the form of a PDF file. Sources should be cited in APA style.