Main Objective of the Project: The primary objective of this project is to support Agora Tutoring in maintaining accurate and up-to-date financial records, efficiently filing corporate taxes, and optimizing the financial strategy to leverage tax benefits and owner investments. By the end of the project, the student will have developed practical skills in bookkeeping, tax preparation, and financial planning within a real business environment.

Project Activities:

To achieve the project goal, learners will need to complete the following tasks and deliverables:

Bookkeeping Tasks:

• Quartley Reconciliation: Reconcile bank statements and credit card statements to ensure all transactions are recorded accurately.
• Financial Reports: Generate monthly financial reports, including profit and loss statements, balance sheets, and cash flow statements.

Corporate Tax Filing Tasks:

• Data Collection and Organization: Gather and organize all necessary financial documents, receipts, and records required for tax preparation.
• Tax Preparation: Prepare the corporate tax return, ensuring compliance with federal, state, and local tax regulations.
• Tax Filing: File the completed corporate tax return before the deadline, ensuring all necessary documentation is submitted.

Financial Strategy and Advising Tasks:

• Current Financial Analysis: Analyze Agora Tutoring’s current financial strategy, identifying strengths and areas for improvement.
• Tax Optimization Recommendations: Identify potential tax deductions, credits, and strategies to minimize tax liability.
• Investment Leveraging Plan: Develop recommendations for leveraging owner investments to maximize tax benefits.
• Comprehensive Financial Plan: Create a detailed financial plan that includes budgeting, forecasting, and strategic financial recommendations for Agora Tutoring.

Deliverables:

• Quarterly Financial Records: Up-to-date and accurate financial entries and reconciliations.
• Quarterly Financial Reports: Comprehensive financial reports that summarize the financial position of Agora Tutoring.
• Prepared and Filed Corporate Tax Return: A completed corporate tax return filed on time, with all necessary documentation and compliance with tax laws.
• Financial Analysis Report: A detailed report analyzing current financial strategies and providing tax optimization recommendations.
• Investment Strategy Plan: A strategic plan for leveraging owner investments to achieve maximum tax benefits.
• Comprehensive Financial Plan: A final document that outlines a detailed financial strategy, including budgeting, forecasting, and financial recommendations for Agora Tutoring.

By completing these tasks and deliverables, learners will contribute significantly to the financial management and strategic planning of Agora Tutoring, while gaining valuable practical experience.

Support & Mentorship:

To ensure learners have the necessary resources and guidance to successfully complete the project, Agora Tutoring and Agora Connections will provide comprehensive support and mentorship as follows:

Staff Time:

• Regular Check-Ins: Scheduled weekly check-ins with senior management to review progress, address challenges, and provide feedback.
• Feedback Sessions: Dedicated feedback sessions at key project milestones to ensure alignment with project goals and to provide constructive input.

Mentorship:

• Subject Matter Experts (SMEs): Access to Agora’s subject matter experts in business development, legal structures, strategic planning, and insurance for specialized advice and support.
• Guidance: Continuous guidance and mentorship from Agora’s senior management team to ensure the project stays on track and aligns with strategic goals.

Feedback and Review:

• Regular Reviews: Scheduled review meetings with Agora Tutoring and Agora Connections’ project leads to provide constructive feedback and ensure alignment with project goals.
• Final Review and Recommendations: A comprehensive final review of the developed strategies, proposals, and action plans, with recommendations for implementation and potential improvements.

By providing these supports and mentorship, Agora Tutoring and Agora Connections will ensure that learners have the necessary resources, guidance, and tools to successfully complete the project and achieve the desired outcomes.