Calculate the effects on as ordinary income

Reference no: EM133360359

Question: Net income form operations A and B are MDs in the AB partnership because of limited liability consideration their attorney has advised them to incorporate A typical year for MDs

revenue 400,000

operating expenses 190,000

charitable contributions 10,000

owner compensation 200,000

a.calculate ABs ordinary net income if taxed as 1) a partnership 2) an S corporation

b. calculate the effects on As ordinary income if AB is taxed as 1) a partnership 2) S corporation 3) a C corporation

c. Ignoring limited liability considerations, should the partners incorporate if so, should they select S status?

d. if A and B desire partnership tax treatment is there any business entity that would meet their needs?

Reference no: EM133360359

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