Instructions
This is the second of three milestone assignments that will lead to completion of your course project. In this assignment, you will complete Section III of your final project (Estate Planning).
ACC 630 Milestone Two Guidelines and Rubric This is the second of three milestone assignments that will lead to the completion of your course’s final project. In this assignment, you will complete Section III of the final project. For this part of the assessment, prepare a Word document that addresses the critical elements below in relation to your chosen company. Answer each question in a substantive way, and defend each of your responses with at least one scholarly source other than your textbook. Pay close attention to the grading rubric to make sure you meet the “Proficient” level in each requirement. Specifically, the following critical elements must be addressed: III. Estate Planning A. In terms of minimizing tax liability, how would estate planning differ from a partnership to a corporation? B. For estate planning purposes, what are the advantages of setting your business up as a corporation versus a partnership? Defend your response. C. Describe your company’s succession plan and whether it aligns with your company’s vision. D. Based on your responses, what estate planning strategy would be most effective in minimizing tax liability? Why? Guidelines for Submission: Your paper must be submitted as a 2- to 3-page Word document (excluding the title and reference pages). Use double spacing, 12- point Times New Roman font, and one-inch margins. For references, use at least one outside source other than the textbook. Sources should be cited using the latest APA style guidelines. Rubric Critical Elements Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value Estate Planning: Minimizing Tax Liability Explains how estate planning differs from a partnership to a corporation in terms of minimizing tax liability Explains how estate planning differs from a partnership to a corporation, but not in terms of minimizing tax liability Does not explain how estate planning differs from a partnership to a corporation 22.5 Estate Planning: Advantages Determines the advantages of setting up a business as a corporation versus a partnership for estate planning purposes and defends response Determines the advantages of setting up a business as a corporation versus a partnership for estate planning purposes, but does not defend response or defense is weak or cursory Does not determine the advantages of setting up a business as a corporation versus a partnership 22.5 Estate Planning: Succession Plan Describes the company’s succession plan and whether it aligns with the company’s vision Describes the company’s succession plan, but does not describe if it aligns with the company’s vision, or description is cursory or inaccurate Does not describe the company’s succession plan 22.5 Estate Planning: Strategy Determines which strategy would be most effective and defends response Determines which strategy would be most effective, but does not defend response or defense is weak or cursory Does not determine which strategy would be most effective 22.5 Critical Elements Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 Total 100% ACC 630 Milestone Two Guidelines and Rubric This is the second of three milestone assignments that will lead to the completion of your course’s final project. In this assignment, you will complete Section III of the final project. For this part of the assessment, prepare a Word document that addresses the critical elements below in relation to your chosen company. Answer each question in a substantive way, and defend each of your responses with at least one scholarly source other than your textbook. Pay close attention to the grading rubric to make sure you meet the “Proficient” level in each requirement. Specifically, the following critical elements must be addressed: III. Estate Planning A. In terms of minimizing tax liability, how would estate planning differ from a partnership to a corporation? B. For estate planning purposes, what are the advantages of setting your business up as a corporation versus a partnership? Defend your response. C. Describe your company’s succession plan and whether it aligns with your company’s vision. D. Based on your responses, what estate planning strategy would be most effective in minimizing tax liability? Why? Guidelines for Submission: Your paper must be submitted as a 2- to 3-page Word document (excluding the title and reference pages). Use double spacing, 12- point Times New Roman font, and one-inch margins. For references, use at least one outside source other than the textbook. Sources should be cited using the latest APA style guidelines. Rubric Critical Elements Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value Estate Planning: Minimizing Tax Liability Explains how estate planning differs from a partnership to a corporation in terms of minimizing tax liability Explains how estate planning differs from a partnership to a corporation, but not in terms of minimizing tax liability Does not explain how estate planning differs from a partnership to a corporation 22.5 Estate Planning: Advantages Determines the advantages of setting up a business as a corporation versus a partnership for estate planning purposes and defends response Determines the advantages of setting up a business as a corporation versus a partnership for estate planning purposes, but does not defend response or defense is weak or cursory Does not determine the advantages of setting up a business as a corporation versus a partnership 22.5 Estate Planning: Succession Plan Describes the company’s succession plan and whether it aligns with the company’s vision Describes the company’s succession plan, but does not describe if it aligns with the company’s vision, or description is cursory or inaccurate Does not describe the company’s succession plan 22.5 Estate Planning: Strategy Determines which strategy would be most effective and defends response Determines which strategy would be most effective, but does not defend response or defense is weak or cursory Does not determine which strategy would be most effective 22.5 Critical Elements Proficient (100%) Needs Improvement (70%) Not Evident (0%) Value Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 Total 100%