Reference no: EM133439870

Tax Software Assignment

MARIAM MOKA ("MM")

You are working for NSI Professional Services (‘NSI"), an accounting & taxation firm and one of the clients, MM, meet with you in early January andinstructed you to prepare their Current year tax returns (2022) as well as provide advice about items in their returns. Their last accountant just did the return and gave it to them without explaining any information at all. They would like you to explain their tax return to them and if there are ways to improve what they claim for next year.

REQUIRED

Part A:
With the objective of minimizing Marian's tax payable:
Prepare Mariam's current year tax return using the Profile tax software program.

Part B:
Prepare a detailed memo addressing ALL of Mariam's questions and concerns mentioned in your meeting notes. Essentially, your response should explain the tax return to the client.

Part C:
Include in your memo any items that you have omitted and any carry-back or carry-forward items.

The entire tax return and letter to the client is due June 9, 2023,at 11:59 PM.
- A copy of the tax summary for Mariam Moka (The program prints the nice summary)
- THE CLIENT LETTER: The client letter should be done using a professional letter format and needs to address issues that either the clients have asked you or you have noticed in preparing the return.
- Please make suggestions to Mariam about any tax planning items that you feelwould affect their future returns. Do you have any suggestions for them in future that could save them money?
- Submit a copy of the tax return and letter to the drop box in D2L. Use your name as a heading.

When doing your client's tax return (MM) use YOUR NAME instead of the client's last name so that we can identify your assignment. You will need a PC computer to run PROFILE from MYLAB.
• Mariam "YOUR NAME"

CREATING A NEW T1 RETURN USING
Ê Profile software comes with your textbook and is on MYLAB. You will need to download PROFILE to your computer.
To provide some guidance on how to use the tax program to create a simple new personal tax return, try this approach. (note: almost all software programs are designed using a similar format).

- Start the software and Open a new file. Ensure that you have chosen the new file in the correct year.
- By default, the program will open on the form "info". Fill in the cells and answer all the questions that are applicable.
> Taxpayer's Social insurance number (SIN)
> Taxpayer's first and last name
> Address, city, province, and postal code
> Telephone number
> Birthdate
To enter the spouse "click married" and the program will ask you if you would like to prepare the spouse's return. State "yes" then enter all the applicable information.
Using the "GO TO" Form drop-down menu - go to the Dependant form and enter all the relevant information about any dependants.

Attachment:- Tax Software Assignment.rar