Discuss the tax law requirements to form a partnership

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1. Discuss the tax law requirements to form a partnership and the different types of partnerships.

2. The difference in income items and items that are separately stated

3. Discuss the calculation of the owners' distributive share and basis.

4. Let's add what makes a good partner? One disadvantage of forming a partnership is having to deal with the human issues that come with partnerships. See the attached article and give comments. The interesting thing is that this article was written in the 1981. Do the concepts hold true today? If so, what advantage does the business entity provide that outweighs the risks?

5. What are the tax law requirements to form an S Corporation?

6. Discuss the calculation of the owners' distributive share and basis. Why is this important?

Reference no: EM131816686

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