In May 2013, George began searching for a trade or business to acquire. In anticipation of finding

Question:

In May 2013, George began searching for a trade or business to acquire. In anticipation of finding a suitable aquisition, George hired an investment banker to evaluate three potential businesses. He also hired a law firm to begin drafting regulatory approval documents for a target company. Eventually, George decided to purchase all of the assets of Blue Blue and George entered into an acquisition agreement on December 1, 2013. Identify the relevant tax issues for George?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...