This document provides instructions for ACC 565 Assignment 1, which asks students to write a 1-2 page letter to a new client recommending whether the client's new corporation should use debt or equity for capital formation. The letter must compare the tax advantages of debt vs equity, recommend one option with rationale, and document the tax research process used. Students are asked to research the advantages and disadvantages of debt vs equity financing online and in Strayer databases. The letter must follow APA formatting guidelines and include a cover page with specified elements. The assignment addresses learning outcomes of analyzing tax issues regarding corporate formations and capital structures, using technology to research tax planning issues, and clearly writing about tax research.