Identify two sources of tax guidance

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Reference no: EM132900714

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.

Question 1: Explain at least two reasons why a business owner might opt for one form of organization over another. Provide support for your rationale.

Question 2: 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.

Question 3: 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.

Reference no: EM132900714

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