Partnership vs. Corporation

Using internet websites such  as https://www.irs.gov/ or other similar resources related to  partnerships and corporate taxation, complete the following assignment:

Write a four to five (4-5) page paper in which you:

1. Compare  and contrast the tax rules and treatment applicable to corporations and  partnerships. Indicate the major way in which the tax treatment affects  the shareholders or partners.
2. Explain at least two (2)  reasons why a business owner might opt to become a partnership over a  corporation. Provide support for your rationale.
3. Imagine that  you are a partner in a LLC. Justify why you elected to become a  partnership as opposed to a corporation. Indicate tax rules that  influenced your decision.
4. Imagine that you are a consultant  and make the recommendation that the most advantageous business  structure is a C-corporation. Justify why you would recommend a  Corporation over a Partnership. Indicate tax rules that influenced your  decision.
5. Analyze what a business owner must consider when  deciding what type of entity is best for the goals and vision of the  business. Provide at least two (2) examples of research the owner must  perform to ensure the proper election is made. Provide support for your  rationale.
6. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

• Be  typed, double spaced, using Times New Roman font (size 12), with  one-inch margins on all sides; citations and references must follow APA  or school-specific format. Check with your professor for any additional  instructions. Note: Please refer to the APA template in the course shell for more information on APA style.
• Include  a cover page containing the title of the assignment, the student’s  name, the professor’s name, the course title, and the date. The cover  page and the reference page are not included in the required assignment  page length.

The specific course learning outcomes associated with this assignment are:

• Examine the tax rules that are unique to corporations, and the basic concerns relevant to shareholders and the corporation.
• Examine the tax rules and treatment related to partnerships.
• Use technology and information resources to research issues in corporate federal taxation.
• Write clearly and concisely about corporate federal taxation using proper writing mechanics.