You are asked to supervise a new hire in your firm 's tax department The person has been working on the tax return of a corporation that is a new client of the firm Help the person put together the client files How many and what files would you advise What should be included in each file (Address t...

This question provides a good opportunity for them to explore the subje ...

You are asked to supervise a new hire in your firm's tax department. The person has been

Question:

You are asked to supervise a new hire in your firm's tax department. The person has been working on the tax return of a that is a new client of the firm. Help the person put together the client files. How many and what files would you advise? What should be included in each file? (Address this question ignoring the issue as to whether the file is electronic or paper.) Because you are the person's mentor, make sure to explain your reasoning.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...