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If your client wanted to start a new business, for example manufacturing watches,
and asked you to identify the tax consequences of being in business as a sole
proprietor, regular ‘C’ corporation, S corporation or a partnership, what would
you recommend?
Please include:
Tax Rates
Accounting methods
Computation of income
Deductions
Charitable contributions
Casualty losses
Ownership
Net operating loss
Capital gains and losses
Dividends / distributions
Due dates
Filing
This is not an all-inclusive list. Please site all of your sources. The paper (without
the bibliography or cover page) should be at least 7 pages, double spaced.
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