[SOLVED] 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
[SOLVED] Seminar in Taxation
Let our experts save you the hassle
Order Now

Request assignment answer

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.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your 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.
Pro service tips
How to get the most out of your experience with GPA Fix
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Criminal Justice
Thank you for the great paper. I like how the writer structured it.
Customer 452627, October 2nd, 2021
Thank you , this is perfect !
Customer 452795, May 15th, 2022
Strategic Management
Thank you very much for the help, really appreciate it
Customer 452821, June 27th, 2022
Social Work and Human Services
Excellent Work!
Customer 452587, July 28th, 2021
Not all sources were " American sources" as directed
Customer 452615, September 16th, 2021
Customer 452813, June 25th, 2022
Customer 452813, June 20th, 2022
Social Work and Human Services
Thank you
Customer 452559, July 2nd, 2021
Social Work and Human Services
Thank You!
Customer 452587, November 17th, 2021
Thank you for your help.
Customer 452707, July 5th, 2022
Exploring Gender in Science, Technology, and Mathematics
Very good work
Customer 452769, July 2nd, 2022
thank you
Customer 452493, March 15th, 2021
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
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