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Sue and Bill plan to open an accounting firm and expect to work full time in the firm. They expect to incur a small loss during their first year of operation and expect to be profitable after the first year. What are the tax law requirements for structuring the business as a partnership or an S corporation? Which would you recommend and why?
Bob and Dave plan to start a business. Bob will contribute land and Dave will contribute services. Would you recommend this business be formed as a partnership or as an S corporation? Why?
What are separately stated items on a K-1? Why is it necessary to separate these items from ordinary income?
What is the difference between a distribution and a distributive share? How do these affect the owner's K-1 and individual taxes?
Assume the equity method is applied. Compute Bell's income from Demers for the year ended December 31, 2008.
what is an example of a potentially unethical accounting situation? why is the situation unethical? what is meant by
What is the recognized gain or loss to Finch and to Cardinal as a result of Finch's liquidation?
Journalize the transactions, and prepare the adjusting entry for the accrual of interest on December 31
read through this article and then lets take a poll of our own. do you feel the amount you pay in income taxes are
Show how double taxation on a taxpayer may result if all countries were to tax the worldwide income of their residents and the income earned within their territorial boundaries.
two bonds have the following terms bond a bond b principal 1000 principal 1000 coupon 8 coupon 7.6 maturity 10 years
in the current year mikes agi is 50000. mike has no miscellaneous itemized deductions other than the employment-related
When a U.S. company purchases parts from a foreign company, which of the following will result in no foreign exchange gain or loss?
north division has the following informationsales 900000.if this division is eliminated the fixed expenses will be
madison thorne works in a public accounting firm and hopes to eventually be a partner. the management of allnet company
buse corporation is investigating buying a small used aircraft for the use of its executives. the aircraft would have a
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