If your client wanted to start a new business, for example manufacturing watches,and asked you to identify the tax consequences of being in business as a soleproprietor, regular ‘C’ corporation, S corporation or a partnership, what wouldyou recommend?Please include:Tax RatesAccounting methodsComputation of incomeDeductionsCharitable contributionsCasualty lossesOwnershipNet operating lossCapital gains and lossesDividends / distributionsDue datesFilingThis is not an all-inclusive list. Please site all of your sources. The paper (withoutthe bibliography or cover page) should be at least 7 pages, double spaced.
