15 Jul Tax Research ProblemFacts:John is a senior partner
Tax Research ProblemFacts:John is a senior partner in the 300 person Manhattan office of a major accountingfirm. He receives guaranteed payments as a partner of $350,000 per year, and typicallyearns another $400,000 per year as his share of partnership profits. John normally worksin his large private office at the firm, commuting there from his upper east side apartmentby subway. However, John, at age 65 with a pre-existing medical condition, is heeding theadvice of the federal and state government to shelter in place and work from home toavoid being exposed to the Coronavirus. In order to do so, John clears out one of thebedrooms in his apartment, and furnishes it with a desk, and cabinets ordered from anonline firm. He also buys a desktop computer, monitor, keyboard, mouse, printer, scannerand fax,etc. and general office supplies such as stapler, hole punches, paper and the like.Finally, he upgrades the speed of his home internet service, adds a phone line and has hispersonal office number forwarded to his new home phones.Question Presented:Are there any tax consequences from John’s efforts to avoid the virus by stayinghome?In particular, how should John treat his use of the room in his home, and cost of theequipment, furnishings, supplies and services for tax purposes?Would the result be different if John were a salaried employee of the partnership,rather than a partner, earning a salary of $350,000 per year?Please prepare an opinion letter in the format: Facts-Issue-Conclusion-ReasoningSpecify reason and authority for each statement you, citing the authority for each statementin legal citation format.The paper should be no more than 3 pages double spaced and typewritten. Answerthe question I asked only, not what you wish I had asked and give valid legal authority foreach statement you make, citing the source in each case. Only primary sources are valid,such as the Internal Revenue Code, Regulations and Rulings, and Case. The textbook,annotations in CCH or other texts, or IRS consumer publications, may be useful in focusingyour research, but they are not primary authority.Your research sources should be available online in the Library databases,including the following. Each has a tutorial available to get started. CCH IntelliConnect (Wolters Kluwer) Checkpoint (Thomson Reuters)
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