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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- Spring '11
- Accounting, individual tax return, federal tax law, Doing Business, comparative forms