This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which form of ownership offers the best tax advantage and why? What will be an ideal ... (Read 44 times)

lilldybug07

  • Hero Member
  • *****
  • Posts: 546
on: Jul 26, 2018
Which form of ownership offers the best tax advantage and why?
 
  What will be an ideal response?

Question 2

What is the liability of partners in relation to debt obligations and lawsuits?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meganlapinski

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jul 26, 2018
Answer to Question 1

The form of ownership that offers the best tax advantage is corporations since profits are taxed at corporate tax rates rather than individual tax rates and the corporation is allowed to deduct all normal and customary business expenses including depreciation.

Answer to Question 2

The liability of partners in relation to debt obligations and lawsuits is joint and severable liability where each partner is legally liable for the entire debt or legal obligation.


lilldybug07

  • Hero Member
  • *****
  • Posts: 546
Reply #2 on: Jul 26, 2018
Thank you!


meganlapinski

  • Sr. Member
  • ****
  • Posts: 333
Reply #3 on: Jul 26, 2018
Always glad to help...


« previous next »
 

Did you know?

Pink eye is a term that refers to conjunctivitis, which is inflammation of the thin, clear membrane (conjunctiva) over the white part of the eye (sclera). It may be triggered by a virus, bacteria, or foreign body in the eye. Antibiotic eye drops alleviate bacterial conjunctivitis, and antihistamine allergy pills or eye drops help control allergic conjunctivitis symptoms.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Darters such as this male greenside darter form a diverse and distinctive subfamily of fishes within Darters such as this male greenside darter form a diverse and distinctive subfamily of fishes within
Pairs of heavy and light chains combine to form a Y-shaped molecule Pairs of heavy and light chains combine to form a Y-shaped molecule
Instructions for Completing the CMS-1500 (02/12) Claim Form Continued Instructions for Completing the CMS-1500 (02/12) Claim Form Continued
Project Management: Achieving Competitive Advantage Project Management: Achieving Competitive Advantage
The age-adjusted rate of melanoma, a deadly form of skin cancer, from 1973 to 2000. Over that time p The age-adjusted rate of melanoma, a deadly form of skin cancer, from 1973 to 2000. Over that time p
Ferns disperse by releasing spores that form on the underside of leaves. Ferns disperse by releasing spores that form on the underside of leaves.
Video: Major Elements in Biological Molecules: Proteins

For a complete list of videos, visit our video library