For your midterm, you will complete a tax return for a sole proprietor based on the provided scenario. Further, you will prepare a memorandum for Larry the Landscaper providing professional recommendations in the informational areas indicated. The complete return and your professional tax planning advice are due in Module Four. All necessary PDF fill-in forms are available from the Internal Revenue Service. 

Guidelines DO NOT make additional assumptions relative to filling out the tax return. Remember, this return is not meant to be extensive, but to provide the foundational information necessary as the advisor to make recommendations to Larry on tax minimization and planning strategies. Think back on what you learned through the Module Three discussion, and review the article in Module Three Resources titled Dollars and Sense: Effective Tax Planning Is a Saving Grace. How can Larry avoid recognition of some income for the current and defer this recognition until a later time in life, hopefully when income is less and Larry is in a lower tax bracket? How can Larry defer tax liability now and better plan for providing for himself in retirement years? What tax deductions/benefits is Larry not currently taking advantage of?