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What business entity would be best to handle tax reporting

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Reference no: EM132712443

Problem 1: When working as an accountant, one issue that often arises is the need to assist a new business owner in identifying the correct form a business should take, mainly for tax purposes. Choose one of the three taxable entities (proprietorship, partnership, or corporation) and present an example of a business situation that would correspond with that particular taxable entity. For example, if you are opening a chain of gas stations and you have three other investors, what business entity would be best to handle the tax reporting for your business venture? Explain your reasoning.

Reference no: EM132712443

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