taxes

Proficient

Needs Improvement

Not Evident

Memo: Tax Planning Proposal

Points:

12.6 (18%)

Creates a tax planning proposal explaining how the family can experience tax savings should the client pass away

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Points:

9.45 (13.5%)

Creates a tax planning proposal but details are inaccurate or irrelevant

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Good start but a somewhat generic discussion without specific recommendations. I would have liked to have seen mention of valuation somewhere in your narrative. This may be the single most powerful tax reduction available. Please see the accompanying sample student solutions for some ideas of what to put in this opening section.

Points:

0 (0%)

Does not create a tax planning proposal

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Memo: Strategic Plan

Points:

12.6 (18%)

Illustrates a strategic plan that addresses the need for a will in handling the estate, which includes the business, land, and investments, consistent with governing code and regulations

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Points:

9.45 (13.5%)

Illustrates a strategic plan that addresses the need for a will, but details lack coverage of business, land, or investments or are not consistent with governing code and regulations

Feedback:

Thanks but the discussion is kind of generic and does not discuss specifically how a will can be used to manage the estate tax. Please see the accompanying sample solutions for some ideas.

Points:

0 (0%)

Does not illustrate a strategic plan that addresses the need for a will

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Memo: Estate Planning Strategies

Points:

12.6 (18%)

Recommends estate planning strategies consistent with governing code and regulations, including gifting property to heirs

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Points:

9.45 (13.5%)

Recommends estate planning strategies but details are inaccurate or cursory

Feedback:

Good start although inclusion of some sample calculations would have helped plus mention of tax savings strategies like valuation and estate tax freeze would have helped as well. Also, I have to wonder where the money to pay the estate tax will come from. You may want to build discussion of that into your final submission.

Points:

0 (0%)

Does not recommend estate planning strategies

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Memo: Gift or Transfer the Assets

Points:

12.6 (18%)

Illustrates the best course of action the client should take including advice on gifting or transferring assets if he leaves the business in three years

Feedback:

Points:

9.45 (13.5%)

Illustrates a course of action the client should take if he leaves the business in three years but details are either inaccurate or irrelevant

Feedback:

Good start with this one but it was kind of general discussion. If I was Bob, I would want to see some really solid suggestions (including the tax impact in dollars) ¿ a specific plan to transfer the entire business in the three year time span specified in the assignment rubric. I will send you some sample solutions to give you some ideas to incorporate into your final paper.

Points:

0 (0%)

Does not illustrate the best course of action the client should take if he leaves the business in three years

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Memo: Sell the Business

Points:

12.6 (18%)

Illustrates the best course of action if the client wishes to sell the business and includes tax consequences when selling an existing operating business

Feedback:

Points:

9.45 (13.5%)

Illustrates a course of action if the client wishes to sell the business, but details are inaccurate or cursory

Feedback:

I see your discussion about Bob selling the business but I didn't see discussion of the estate impact (and how that impact s/b managed) of the cash proceeds from the sale. If Bob sells the business, even after paying capital gains taxes, there is going to be a lot of cash in his estate. Bob needs to see more specific recommendations. Please see the sample solutions for some ideas.

Points:

0 (0%)

Does not illustrate a course of action if the client wishes to sell the business

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Articulation of Response

Points:

7 (10%)

Submission has no major errors related to citations, grammar, spelling, syntax, or organization.

Feedback:

It might be a good idea to use headings for each of the assignment sections. In other words, the first heading of this assignment would be Tax Planning Proposal, the second would be Strategic Plan and so on. Doing it that way can really make it easier for the client to read. :-)

Points:

5.25 (7.5%)

Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas.

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Points:

0 (0%)

Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas.

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