Taxation LAW

Feb 3rd, 2012
Studypool Tutor
Abraham Lincoln University
Course: business finance
Price: $20 USD

Tutor description

The file answers these questions Prepare a tax memo (900 word minimum; 1,200 word maximum) to Penelope, Mark and John addressing the Entity Selection issue and discussing the following tax and non-tax considerations, point by point: Part I: Discuss the various forms of organization that are available to Penelope, Mark and John. Part II: Make your recommendation as to what form of organization you believe will be best and be sure to explain the reasoning for your choice. Part III: Discuss the tax consequences of contributing cash, property and/or services to the new entity. Part IV: Discuss, in detail, how this entity is taxed (if at all) and what filing requirements it has with the IRS. Part V: Discuss how income and distributions may/will be allocated to Penelope, Mark and John. Part VI: Discuss, in detail, how the individuals are taxed (if at all) with respect to the net profits from this entity and what filing requirements they will each have with the IRS.

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