Discuss what, if any, moving deductions would be allowed in 2018 and the treatment of those deductions including but not limited to effect on taxable income and tax liability.

The above file is an exercise KPMG used in their “Why Tax” presentation to our students last fall. Please modify the instructions in the following manner:Instead of a presentation, draft a memo to Bobby Joe describing the tax treatment of his moving expenses in 2018 and contrast that with how they would have been treated in 2017 (with support from the tax code). This assignment, should you choose to complete it, will be worth 5 percentage points toward your overall grade. Credit will be all or nothing, so please do not submit half-effort work. For full credit, your memo should:1. Be in good business memo format2. Discuss what, if any, moving deductions would be allowed in 2018 and the treatment of those deductions including but not limited to effect on taxable income and tax liability3. Contrast with what, if any, moving deductions would be allowed in 2017 and the treatment of those deductions including but not limited to effect on taxable income and tax liability4. Include support for your conclusions from the code