Questions from Federal Taxation

Q: Compare and contrast the characteristics of sole proprietorships, partnerships, corporations

Compare and contrast the characteristics of sole proprietorships, partnerships, corporations, S corporations, limited liability companies, and limited liability partnerships.

Q: Are buildings always Section 1250 property? If not, explain the

Are buildings always Section 1250 property? If not, explain the circumstances under which a building would not be Section 1250 property.

Q: Discuss the comparative advantages and disadvantages of general partnerships and limited partnerships

Discuss the comparative advantages and disadvantages of general partnerships and limited partnerships.

Q: Limiting the liability of the owner(s) of a business

Limiting the liability of the owner(s) of a business is often the primary motive for using the corporate form. Under what circumstances may the use of a corporation not shield the owner(s) from all l...

Q: What are the nontax differences between a corporation and an S corporation

What are the nontax differences between a corporation and an S corporation?

Q: What are the requirements to qualify for the S corporation election?

What are the requirements to qualify for the S corporation election?

Q: How is a limited liability company different from a corporation?

How is a limited liability company different from a corporation?

Q: How is a limited liability partnership different from a partnership?

How is a limited liability partnership different from a partnership?

Q: Compare the incidence of taxation for each of the following entities:

Compare the incidence of taxation for each of the following entities: a. Sole proprietorship b. Partnership c. Corporation d. S corporation

Q: Armand is an owner of Content Company. During the current year

Armand is an owner of Content Company. During the current year, he receives a $15,000 cash distribution from Content. What is the tax effect of the receipt of the $15,000 if Content is organized as:...