Amy and Jeff Barnes are going to operate their florist shop as a partnership or as an
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Amy and Jeff Barnes are going to operate their florist shop as a partnership or as an S corporation. Their mailing address is 5700 Richmond Highway, Alexandria, VA 22301. After paying salaries of $100,000 to each of the owners, the shop's annual earnings are projected to be about $150,000. The earnings are to be invested in the growth of the business. Write a letter to Amy and Jeff advising them of which of the two entity forms they should select.
PartnershipA legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Smith Raabe Maloney and Young CPAs 5191 Natorp Boulevard Mason OH 45040 March 15 2014 Amy and Jeff Barnes 5700 Richmond Highway Alexandria VA 22301 De...View the full answer
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Related Book For 
South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts
ISBN: 1389
41st Edition
Authors: William H. Hoffman, William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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