View the step-by-step solution to:

Imagine you are a CPA.

Imagine you are a CPA. A client engages you to determine how best to transfer property and perform services to a corporation in exchange for stock with minimal exposure to taxes and risk of an IRS audit. Assume that the client is forming this corporation with two other people who also plan to contribute property and services to the corporation,

Using the Internet or Strayer databases, research the rules regarding the transfer of property and services to a corporation in exchange for stock. Include a review of the IRS to determine its level of interest and audits conducted related to this area.
Write a three to four (3-4) page paper in which you:

Based on your research, determine the types and methods of transfers that will most likely trigger a taxable event for your client. Indicate how you are likely to present this information to your client.

Based on your research, evaluate which types of transfers are most likely to increase the risk of an IRS audit and the impact of the advice given to your client.

Recommend the most advantageous types and methods of property and service transfers to your client in exchange for stock to minimize any tax liability and risk of audit. Support your recommendations with examples.

This question was asked on Oct 27, 2012.

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors and customizable flashcards—available anywhere, anytime.


Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access or to earn money with our Marketplace.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
  • -


    Browse existing sets or create your own using our digital flashcard system. A simple yet effective studying tool to help you earn the grade that you want!

    Browse Flashcards