Submit a draft explaining the tax effects of salaries if cash is withdrawn from a business. You must also explain the tax consequences of paying the owners based on the taxable entity selected for the business, as well as the tax consequences for each individual’s personal tax returns.
Specifically, the following critical elements must be addressed:
#button {
background-color: #F05A1A;
border: 5px;
border-radius: 5px;
color: white;
padding: 5px 5px;
text-align: center;
text-decoration: none;
display: inline-block;
font-size: 13px;
margin: 4px 2px;
cursor: pointer;
}
Save your time – order a paper!
Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines
Order Paper Now
I. Memorandum
D. Explain the tax effect based on providing $180,000 per year for the client’s salary and $70,000 per year for his daughter’s salary if they withdraw cash from the business or pay dividends as appropriate.
E. Justify the percentage of ownership the client’s daughter should have in the business based on the type of business entity recommended. Consider the tax law in reference to the recommendation and how the decision will affect the daughter’s tax return
