I. WRITING ASSIGNMENT You are the owner of XYZ Tax, Inc., a privately held corporation in which you are the sole shareholder. You have just prepared a client's income tax return, and the return shows...

I.

WRITING ASSIGNMENT

You are the owner of XYZ Tax, Inc., a privately held corporation in which you are the sole shareholder. You have just prepared a client's income tax return, and the return shows an overpayment of $13,054. Your client, who does not have an accounting or tax background, has some specific questions about certain itemized deductions that you claimed on her return.

Required:
Prepare a one page email explaining the significance
(with any necessary calculations)
of the following deductions:

1) The Medical Expense Deduction (Schedule A, Line 4)

2) The Charitable Contribution Deduction (Schedule A, Line 19)

3) The State & Local Tax Deduction (Schedule A, Line 14)

When you are explaining the deductions to your client,
be sure to use the same adjusted gross income figure.