Question: Please complete ACME Roadrunner Control 2 0 2 2 tax return based upon the facts presented below. If required information is missing, use reasonable assumptions
Please complete ACME Roadrunner Control tax return based upon the facts presented below. If required information is missing, use reasonable assumptions to fill in the gaps. Ignore all AMT calculations and AMT related reporting items.
Facts:
Wile E Coyote and Sam Sheepdog have been lifelong friends. Both Wile and Sam started to work for the same national pest control company immediately after graduating from technical college. After nearly a decade of working for that same company, Wile and Sam decided to venture out on their own and form their own pest control company called ACME Roadrunner Control ARC They formed ARC as a limited liability company LLC Wile and Sam each own of the company. The company has been successful primarily based upon reputation and the fact that ARC is available hours a day, seven days a week. Although ARC charges a premium for after normal business hour calls, most of its competitors will not perform services past pm and, thus, ARC finds itself often as one of the only available choices for middle of the night rodent emergencies.
ARC has several employees and because of implementing technology solutions to aid in its call dispatch program, ARC has been able to expand its service area to now include a threecounty area instead of just one.
Information relating to ARC and its owners is as follows:
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