Corporate Taxation 539 Group Project: S Corporate Tax Return Client: Slattery’s Inc. 5432 Partridge Pl. Tulsa, OK 74105 Step 1: Scope, budget in hours, work plan, & team Background: Slattery’s Inc. is an S corporation. It was incorporated on February 1,...
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Corporate Taxation 539 Group Project: S Corporate Tax Return Client: Slattery’s Inc. 5432 Partridge Pl. Tulsa, OK 74105 Step 1: Scope, budget in hours, work plan, & team Background: Slattery’s Inc. is an S corporation. It was incorporated on February 1, 2012 and started business in February 25, 2012. The shareholders are Lisa Cutter (owns 50%), Jeff McMullen (owns 20%) and Tina Woodbrook (owns 30%). Lisa and Jeff believed that the public would love the recipes used by Lisa’s mom, Tina Woodbrook. They also though that they had the necessary experience to succeed their business, Lisa had experience operating as a small bakery while Jeff currently owned a fast food franchise business. Scope of Work: Obtain, review and evaluate all information about income and finances of Slattery’s Inc. Create a tax trial balance with book to tax adjustments Prepare computational and other schedules to tax form 1120S Collect any useful information to complete final tax return Ensure filing of Sl
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