This topic contains a solution. Click here to go to the answer

Author Question: Which form of ownership offers the best tax advantage and why? What will be an ideal ... (Read 56 times)

lilldybug07

  • Hero Member
  • *****
  • Posts: 546
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
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.




meganlapinski

  • Sr. Member
  • ****
  • Posts: 333

 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

For a complete list of videos, visit our video library