[Solved] Business Finance – Accounting Assignment Week 2

Assignment Prompt & Instructions

[>Accounting homework help](https://www.sweetstudy.com/fields/business-finance-accounting)

Tax Research using Code and Administrative Sources.

**Facts**: You are a slightly over-confident  CPA who advises Changling Industries, LLC, a Florida Manager Managed  LLC a small start up limited liability that has garnered the attention  of several Angel Financing organizations. The founder, Nodan Idiote, of  middle-eastern origin and three of his friends are the owner of  Changeling Industries.

Nodan says that changling is projected to lose money for the next  three year, but in the fourth year and thereafter, the entity will  generate an astonishing level of earnings and cash flow.

He asks you what he should do to manage his taxes going forward.  Specifically he asks you if he is using the best type of entity given  the facts and whether it would be recommended to change now.

**Problem:** You vaguely remember a CPE seminar  where the speaker talked about something like section 1202 of the  internal revenue code, but you don’t remember anything other than the  Code section and even that could be wrong. You need to find the answers  tout suite.

Using two different AI platforms of your choosing and CCH Tax  Connect. Create an internal memorandum for the file and a client letter  which determines the best course of action for an entity with the above  facts ( Assume 1202) and develop a strategy to go forward with the Angel  financers. Explain to Nodan in detail how to complete the transaction  step by step

Restrict your research support to Internal Revenue Code and administrative pronouncements.

Deliverables: 1. Please provide your Prompts (Queries) and your raw results from your AI and CCH Search

1. Revise the AI searches into work product that you would happy to share with your boss and the client.