acc_455_week_1_individual_tax_retu...

Jun 21st, 2015
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Week One DQ 1 Due Day 2 Post a 200-300-word response to the following discussion question by clicking on Reply.What business entities are available for a new business? What are the tax and nontax advantages of each form? Select two business types and provide an example of when that selection is most appropriate from a tax perspective and from a nontax perspective.There are five types of business entities:Sole ProprietorshipPartnership & Limited liability partnershipCorporations & Limited liability corporationsFor sole proprietorship the tax advantages are the business itself is not taxes. As a sole owner the owner claims any business profits or losses on personal income taxes. The tax rate is lower because of this reason. The owner may add cash or take cash form the business, this also works with contributing or selling property without gain or losses reported. The use of t

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