ACCT362 TaxII Wk1 due 101308 - help them decide which...

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ACCT362 - DVAH - Tax Accounting II Assignment Details - ASSIGNMENT ONE  Details  Description:  Familiarize yourself with the two Packets you have been given. One is Understanding and Working with the Federal Tax Law. One is Comparative Forms of Doing Business. We will discuss these issues in class and try to complete the two Packets in class Do the Forum Questions for Week One. Assignment Type:  Forum  Category:  Uncategorized  Order:  Points Possible:  75  Points Received:  Not Graded  Due Date:  10/13/2008  1. Jennifer and Jamie are starting a business and have asked you for  advice on whether they should form a partnership, a corporation, or some other type of entity. Prepare a list of questions you would ask them to
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Unformatted text preview: help them decide which entity is appropriate for their circumstances. Explain your reasons for asking each question. 2. George owns a sole proprietorship and Mike is the sole shareholder of a corporation. Both businesses make a profit of $75,000. Neither withdrew funds from his business this year. How much income would each show on his individual tax return. 3. Why is "it depends" the appropriate stance when giving a substantive answer to a legal question? 4. Complete Packets for Week One: Understanding and Working with the Tax Law and Comparative Forms of Doing Business....
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