For WizardKim-DPR1

Before preparing a tax return, accountants have to gather information from their clients. Tax return preparers are not auditors, and they generally do not have a duty to verify that client information is accurate. Rather, to expedite the tax return preparation process, accountants generally may in good faith rely, without verification, on information furnished by the taxpayer or by third parties. (Klein, et al., 2015) 

The use of a data-entry form makes data entry faster and more efficient because you do not have to go to multiple different cells to enter data, row by row. Also, you are less likely to enter data in the wrong place. It is particularly beneficial to use data-entry forms when your data range or table has many columns. (Williams, 2020) 

The client input form that I created in Excel, collects in the first data form, the personal data of the taxpayer and his/her spouse in case they do the filing jointly. In a second data form, the data of the taxpayer’s dependents must be recorded. All this information is necessary to identify the taxpayer and submit accordingly his/her tax return. 

I use the Data Validation option for cells that contain dates, to avoid inputs different from that format. 

For the creation of my client input form, I base myself on the hypothetical case that the taxpayer is filling his/her personal taxes and those of his/her small business. 

I create two possible data forms, within the group of data that the taxpayer must provide, but that allows to illustrate the usefulness of this resource to enter data in a faster and more secure way. 

The general expenses involved in running your business are tracked by category in order to calculate totals that are required for tax returns. (Goodman, 2010) 

Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business operates to make a profit. To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary. (IRS, n.d.) 

In the form, I include business expenses such as Meals and entertainment, Travel (hotel, airfare, transportation, etc.), Advertising (business cards, website, ads, etc.), Legal and accounting fees Business insurance, Tax, business license, and permit fees, Office supplies, Internet and cell phone, Bank fees, Business loan interest, Equipment, storage, and office rent. 

The other form I chose to create was related to vehicle expenses, under the Actual Car Expenses method. 

Businesses that use a car or other vehicle may be able to deduct the expense of operating that vehicle on their taxes. Businesses generally can use one of the two methods to figure their deductible vehicle expenses: Standard mileage rate, or Actual car expenses. Business taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. (IRS, 2019) 

The actual car expenses included in the form to be deduct were: Fuel and oil costs, Lease payments, Insurance and tax payments, Parking fees and toll charges, Repair and maintenance fees.   In both forms, I gave the cells, in which the data is entered, the format of Dollars, so that when entering the number, it automatically presents it as a quantity in values. 

References: 

Deducting Business Expenses. (n.d.). https://www.irs.gov/businesses/small-businesses-self-employed/deducting-business-expenses 

Goodman, P. B. (2010). Accounting savvy for business owners: A guide to the bare essentials. ProQuest Ebook Central https://0634g2uw9-mp01-y-https-ebookcentral-proquest-com.prx-keiser.lirn.net/lib/keiseruniversity-ebooks/reader.action?docID=487619&ppg=1&query=tax%20client 

Klein, G., & Kumar, N. (2015). Ethics in accounting: A decision-making approach. ProQuest Ebook Central https://0634g2uw9-mp01-y-https-ebookcentral-proquest-com.prx-keiser.lirn.net/lib/keiseruniversity-ebooks/reader.action?docID=4845227&ppg=1&query=tax%20requirements 

Small businesses can benefit from deducting vehicle costs on their taxes. IRS Tax Tip 2019-57. (2019, May 10). https://www.irs.gov/newsroom/small-businesses-can-benefit-from-deducting-vehicle-costs-on-their-taxes 

Williams, K. (2020, July 01). Creating a data-entry form in Excel. https://www.journalofaccountancy.com/issues/2020/jul/create-a-data-entry-form-in-excel.html 

Client Input Form

Response.xlsx