A client operates a small business organized as a sole

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A client operates a small business organized as a sole propreintship and is considering change the business to operate as a C corporation. the client wants to know how certain deductable items are treated for tax purposes by a business conducted as a C corporation filling form 1120 ,US corporation income tax Return , as a compared to the way they are treated as a sole proprietorship filling form 1040 US .Individual income Tax Return.

  • Topic covered in the simulation:
  • Charitable contribution limitation.
  • Payments to owners for services rendered .
  • payments for health insurance for owners .
  • Business meals and entertainment expenses .

Reference no: EM13586245

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