Personal Finance: Planning your Tax Strategy

***Instructions: There are 3 parts to this assignment; part A, B, and C. Under each part are situations following 3 questions thereafter, part C has 4 questions. Answer each question to its entirety, minimum word count for part A and part B is 300 each part, while part C is 350 (not each question), total for assignment would be 950 or more. The required in-text citation and reference is the attached file, please review before proceeding with the assignment. Here is the reference for it: Kapoor, J. R., Dlabay, L. R., & Hughes, R. J. (2015). Personal finance. 11th Edition, McGraw-Hill/Irwin. Use other scholarly articles as well, minimum total reference is 3, to include what I provided for you. No PLAGIARISM and let me know if you have any concerns. Thank you!

***Please review the attached pdf files (2 files) and the attached word document before proceeding. Word Document file has the data needed to answer each part questions. Also, separate your answers by question numbers for easier breakdown. Thanks!

Part A: TAX PLANNING STRATEGIES

Taxes

Life situation and Financial Data:

***please see Word Document attachment***

1. Given her current situation, list some suggestions on what Shelby should do with a tax refund of $800.

2. Based on her current and future life situation, what tax planning strategies should she consider?

3. Describe how Shelby might use the Personal Financial Planner sheet entitled “Tax Planning Activities” to help her tax situation. **please see attached pdf labeled as “Personal Financial Planner” and go to page 22 for Tax Planning Activities”**

Part B: SAVINGS PLANS AND PAYMENT ACCOUNTS

Banking Services

Life situation and Financial Data:

***please see Word Document attachment***

4. Given her current situation, list some suggestions on what Shelby should do to increase her emergency fund.

5. Based on her current and future life situation, what other money management and financial planning activities would you recommend for Shelby?

6. Describe how Shelby might use the Personal Financial Planner sheets 26 and 28 (Payment Account Comparison and Checking Account Reconciliation). ***see attached pdf file for the required sheets needed***


Part C: CONSUMER CREDIT OVERVIEW

Introduction to Consumer Credit

Don’t Let Crooks Steal Your Identity:

***please see Word Document attachment***

7. What are several methods that crooks use to steal your identity?

8. How do you discover that someone has stolen your identity?

9. What steps can you take to thwart identity thieves?

10. What actions might you take to ensure that your credit cards and other financial information are secure?

 
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