[Get Solution] Seminar in Taxation

Please help with this situation analysis for three or four pages  You are a tax partner in a regional CPA firm. One of your fellow partners requests you to assist in a presentation to a new client, John Smith. John is a business executive with a scientific background, and is about to form a new business. John is a married taxpayer with three children. He is in the 35% federal marginal tax bracket. John has approximately $800,000 to invest in the new business. John plans to start a pharmaceutical consulting company. He has developed a business plan and has obtained available financing of $500,000 secured by his assets. The business will be located in New Jersey or Pennsylvania with nine -twelve employees initially. John projects a loss in the first year of operation of approximately $90,000 due to start up costs, including marketing and business development. He is interested in protecting his personal assets from the creditors of the business venture. John anticipates making $170,000 of fixed asset purchases during the first year of operation. Three of John’s friends, Todd who is an attorney with a scientific background, Scott, who is an IT specialist, and Kate, who is a marketing/public relations and project manager, will join the business venture. Todd’s contributions to the business venture will his legal services, business advice, and cash of approximately $100,000. Scott   will only contribute his services. Kate will contribute $40,000 and her services to the business. Since the business is projected to be profitable and expand in year two, John may seek funding from outside investors for expansion in year three. He does not want a large number of investors. Requirements Please prepare a concise written report responding to the following questions: 1.Based on the above, what entity do you recommend for John in this situation- sole proprietorship, partnership, C Corporation, S corporation, or LLC? Why? 2.Briefly discuss the state tax implications and differences of operating in New Jersey or Pennsylvania? 3.What other current business and personal tax planning advice would you give John?

Struggling to find relevant content? Order a custom essay on
[Get Solution] Seminar in Taxation
Let our experts save you the hassle
Order Now
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Get personalized services with GPA Fix
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Customer 452521, May 13th, 2021
This is great! Thank you
Customer 452679, December 16th, 2021
IT, Web
Paper was great and accomplished everything I needed.
Customer 452885, October 27th, 2022
Criminal law
Thank You!
Customer 452465, January 29th, 2021
Social Work and Human Services
Excellent Work!
Customer 452587, August 24th, 2021
Yes and thank you
Customer 452701, October 25th, 2022
Customer 452813, June 19th, 2022
Thanks for the help, appreciate it
Customer 452821, August 27th, 2022
Customer 452813, July 10th, 2022
Thanks so very much. The paper is well-researched and adequately referenced. You have been of great help during the pandemic!
Customer 452467, January 31st, 2021
Social Work and Human Services
Great Work!
Customer 452587, March 16th, 2022
Customer 452813, June 30th, 2022
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
error: Content is protected !!

Save More. Score Better. Use coupon code SPECIAL for a 15%discount