Required (read all of the instructions below):

note that the grading on this research assignment will be much more strict than the grading on the first research project. review chapter 2 in your textbook before beginning your research. the issue: in 2017, your client william jones (a single taxpayer) was required to repay $40,000 he had reported as income in 2015 under the claim of right doctrine. his 2015 taxable income (including the $40,000) was $300,000, and his tax on that amount was $82,000. his 2017 taxable income, without regard to the $40,000 repayment, is $105,000. mr. jones has now come to you inquiring about how he can/should address the $40,000 repayment in 2017 of income he reported in 2015.

write a memorandum for your firm's files indicating your findings. you will find an example of a tax file memorandum in chapter 2 of your textbook. you should use a facts, issue, authorities, conclusion, discussion/analysis, format similar to the example in chapter 2. the points are based on format (10 points), research findings (10 points), discussion/analysis of your research findings to the facts/issues of the problem (20 points), and overall professionalism/writing/grammar/etc . of your memo (10 points). the memorandum should be no more than 2 pages in length, using 1.5 space, 11 font. the discussion/analysis section of your memorandum is most important. make sure you explain/discuss/analyze your research findings, and relate them to the specific facts of the case. to research these issues, you must utilize ria checkpoint exclusively. you must also include at least 4 screen shots from ria checkpoint (not counted towards memo length, but counted towards the 20 point portion of your memo grade). hint: start with section 1341, and see where it takes you.

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

answer(b) revenue account which increases;

of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans. 

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.