Serious consideration of both legal and tax implications

Assignment Help Financial Accounting

Reference no: EM13830252

A partnership requires serious consideration of both legal and tax implications, similar to the consideration required when planning and forming a corporation.

Complete a writing activity based on the following situation: Two brothers and a friend are in the process of starting an information technology services company. Each of the prospective partners has relevant experience and knowledge. The company will offer network and hardware support as well as selling software and hardware products.

Please discuss, at a minimum, the following issues that should be considered in the planning and formation process:

Discuss key legal and tax considerations in planning the formation of a partnership and/or LLC. Be sure to acknowledge interrelated connections between law and tax, and their effects on each other.

Offer important agreement terms and conditions that should be covered by any formal formation document such as a partnership agreement.

Your paper must be a minimum of 2 pages (700 words).

Reference no: EM13830252

Questions Cloud

Calculation of mathematical induction in trigonometry : This problem is from Mathematics as well as it is about calculation of mathematical induction in trigonometry.

Computing differentiation in trigonometry : Show that f 5x2/(1 + x)1/3dx = 3(1 + x)2/3(5x2 - 6x + 9)/8 + C

Porter corporation''s capital structure : Porter Corporation's capital structure consists of 50,000 shares of common stock. On December 31, 2012, an analysis of the accounts and discussions with company officials revealed the following information: Sales revenue $1,100,000 Purchase discou..

Calculating differentiation in trigonometry : This question is from Mathematics as well as it is about calculating differentiation in trigonometry.

Serious consideration of both legal and tax implications : Complete a writing activity based on the following situation: Two brothers and a friend are in the process of starting an information technology services company. Each of the prospective partners has relevant experience and knowledge. The company wil..

Determine the direction vector and point-vector : Use the Reduced Row Echelon technique to solve for the complete solution for each of the following linear systems. Write your solution in p + tv format, as demonstrated in class. Identify the direction vector v and the point-vector p. Check your sol..

Check whether the equation is valid or not : Which of the following would be a valid tensor equation? You should indicate if the equation is valid; and if it is not valid, you should state why.

Check the validity of the equation : Which of the following would be a valid tensor equation? You should indicate if the equation is valid; and if it is not valid, you should state why.

Qualifying criteria for a pfi established by sir william : 1. What is the goal for the public sector when entering into a private finance initiative (PFI) or public private partnership (PPP)? 2. In a PPP what is the public sector’s focus and what is the private sector’s focus? 3. What were t..

User Account

All Pages