Reference no: EM132832513

Your goal is to compare the three major forms of corporate organizations: partnerships, S corporations, and corporations. You will then select a domestic organization, identify its entity type, and describe how the organization's tax methods are detailed in its financial report.

problem 1: Compare and contrast the tax rules and treatment applicable to those three forms of organization and the major way in which the tax treatment affects the shareholders or partners.

problem 2: Explain at least two reasons why a business owner might opt for one form of organization over another. Provide support for your rationale.

problem 3: Identify two sources of tax guidance (for example, IRS code, Revenue Procedure) for each form of organization and how it defines a component of the tax policy for that form of organization.

problem 4: Research an organization by identifying its entity type (corporation, s-corporation, or partnership) and describe how that organization's tax methods are detailed in their financial reports.