Posted: April 25th, 2022

Project on Income Taxes and Pensions.

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I use Target company, pay attention to rubric and requirements and everything should be related to Target.
So here what instructor is saying: Greetings Class-
It’s Milestone Week Again!!!
This week you have two class assignments which include the CNOW assignments and the Milestone Two Project on Income Taxes and Pensions.
There are seven key areas in total that I will be focusing on. For the first section- Income Taxes we will review corporate taxes, increase in income, effects, and foreign taxes. For the second section -Pensions we will focus on pension plans, effects, and other options. Remember you should be using examples and providing as much detailed information as possible to support each of the sections of the portfolio.
Make sure you review the Rubric Guidelines for Milestone Two located within Module 5 Learning Module.
Just a few reminders:
The assignment should also be completed using APA format (not question/answer) which includes double spacing, 12-point Times New Roman font, and one-inch margins with at least three cited sources. You should not use Roman Numerals, bullets, numbers, or the alphabet. You should be using headings and subheadings to separate out each of the sections. Remember your goal for Turnitin should be below 20%.
Looking forward to seeing the tax & pension information on the company each of you have selected.
Helpful Tips for Milestone 2
Income Taxes
Elimination of Corporate Taxes- make sure you review both the Income Statement and the Balance Sheet and explain the changes- remember all changes should be supported with amounts and accounts. If you are using increases and decreases make sure you support the increases/decreases with both the amounts and accounts.
Income Tax Rate- make sure you provide the numbers that you used for the calculation for both the current rate and also with the increase in income by $2,000,000 rate- support your calculation.
Effects of the increase in Income- make sure you review both the Income Statement and Balance Sheet and support both the accounts and amounts. Increases/decreases should be supported with the accounts and amounts.
Foreign Taxes- make sure you include how much was paid for foreign taxes. You should also review the percentage of taxes that were paid in the United States compared to the foreign taxes for your company.
Pensions
Review your company’s financial statements and provide detailed information as far as what type of pension plan the company has. Make sure you review why the company selected the plan- give an overview of the pension plan the company has reported (in the notes to the consolidated financial statements).
Effect of the pension plans- review the notes to the consolidated financial statements again and include what accounts and amounts that are reported for the pension plans.
Memo to the CEO- make sure you provide at least (3) types of pension plans that the company can choose from. You should explain in detail each of the plans. Once you explain them you should select the best option for your company and support why you selected the specific pension plan.
Remember you are researching your selected company- so you will want to provide as much detailed information, examples, and concrete evidence for support as you can for your company. Above are key elements that should be researched and used for support. I encourage you to review the notes to the consolidated statements as this is a great place to find more detailed information about your company.
Make sure you also review APA formatting for writing a paper and writing business memos.
Here is a great link for APA format:
https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/general_format.html

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