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Step 1: Scope, budget in hours, work plan, & team


The Bike Shop jointly owned and operated by Sam Smith and Jane Jones was incorporated in
May 1, 1995. Sam Smith is the President and owns 70% while Jane Jones is secretary treasurer
owns 30%. The two are also full employee of the corporation.

Scope of Work

Obtain, review and evaluate all information about income and finances of The Bike Shop

Review prior years tax filling and tax liability status of The Bike Shop

Research and properly prepare 2012 tax form 1120 and ensure that tax liability is at its legal

Prepare computational and other schedules to tax form 1120.

Ensure filing of The Bike Shop 2012 Tax Returns within the stipulated time.