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 62 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?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

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?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

The form and orientation of desert plants reduces heat gain from the environment and facilitates coo The form and orientation of desert plants reduces heat gain from the environment and facilitates coo
Embryonic cells form the placenta Embryonic cells form the placenta
Gestalt principles of form and perception Gestalt principles of form and perception
Instructions for Completing the CMS-1500 (02/12) Claim Form Continued Instructions for Completing the CMS-1500 (02/12) Claim Form Continued
How to graph quadratic equations that are in vertex form How to graph quadratic equations that are in vertex form
How to quickly determine the maximum or minimum value of a quadratic equation in standard form How to quickly determine the maximum or minimum value of a quadratic equation in standard form
Video: Types of energy transfer reactions: oxidation-reduction reactions and ATP generation reactions

For a complete list of videos, visit our video library