"I Know Income Taxation Project"-Assessment

Project Summary

“I know income taxation project is to be worked out by the individual member of the class. Not in group to prevent riders who does not care about acquiring skills but just to pass the course. No duplication of entities or estimates and assumptions. No copying No third party outsourcing of the project. Integrity is a must for passing this course the submission has integrity issue or issues or hi of fraudulent submission, your instructor reserves the right to give a "TALL grade to the student member accordingly and he or she will receive a FA grade in the course for Academic Dishonesty.

The objective is for the individual member of the class to demonstrate his/her knowledge of income taxation by choosing a business entity near his/her locality. If members of the class reside in the same locality, there should be no duplication of business entity within the same locality. For this purpose, the Class Mayor will maintain the official registry of business entities to monitor business take up in each locality to avoid duplication Le. If Student 1 has Jolibee Pullian and Student 2 has Jolibee Pullian there is a duplication and is not allowed. Student 1 has Jollibee Pullian and Student 2 has Jollibee Pullian there is no duplication of business entities business establishments)

To get information about the business entity, the individual member of the class should use observation and interview. Creativity in getting information in menu raged for developing helicopter quality thinking

Learning objectives:

1. Learn to make income and expenses projections
2. Consolidate income taxation learning

REQUIREMENTS

The submission may be in WORD format or PDF File format

1. Name of the Business Entity
2. Location Map of the Business Establishment so chosen
3. Actual Picture of the actual Business Establishment Facebook/Social Media App Photo is not a valid submission 4
4. Nature of business
5. Scenario 1 Actual business set-up and taxpayer Cole Proprietorship or Corporation) the Actual Business up is Sole Proprietorship darans if the individual in an Mt and/or SLP demonstrate knowledge of income Taxation if the actual business set up is a Corporation escuss the corporation is a Domestic and/or a Resident Foreign Corporation
6. Scenario 2 Dacuss the oppoute of the Actual business set va under Scenaru 1 Le if Scenariu 1 in individual, the Scenarie 3 should be as a Corporation
7. Use estimates and assumptions, se describe your estimates and assumptions from Sales/Revenues line down to Cost of sales to get to your business gross income or gross profa and also to the details of expenses line temp which are your allowable deductions