If your client wanted to start a new business, for example manufacturing watches, and asked you to identify the tax consequences of being in business as a sole proprietor, regular ‘C‘ corporation, S corporation or a partnership, what would you recommend? Please include: – Tax Rates – Accounting methods – Computation of income – Deductions – Charitable contributions – Casualty losses – Ownership – Net operating loss – Capital gains and losses – Dividends / distributions – Due dates – Filing This is not an all-inclusive list. Please site all of your sources. The paper (without the bibliography or cover page) should be at least 7 pages, double spaced.
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