Languages homework help
Languages homework help. “Prepare a three page memo (at least 300 words per page) to John and Jane Smith addressing whether the issues presented above:1. John Smith tax issues:1. How is the $300,000 treated for purposes of Federal tax income?2. How is the $25,000 treated for purposes of Federal tax income?3. What is your determination regarding reducing the taxable amount of income for both (a) and (b) above?2. Jane Smith tax issues:1. What are the different tax consequences between paying down the mortgage (debt) and assuming a new mortgage (debt) for Federal income tax purposes?2. Can John and Jane Smith utilize a 1031 tax exchange to buy a more expensive house using additional money from John’s case?3. Does Jane have a business or hobby? Why is this distinction important?4. Would Jane (and John) realize better tax benefits if she had a separate business for her jewelry making activities?5. What tax benefits would John realize if he invested $15,000 in Jane’s jewelry making?6. Can Jane depreciate her vehicle or jewelry making equipment? How?3. John and Jane Smith tax issue:1. a. Should John and Jane file separate tax returns or jointly?”