Refer to the facts in the preceding problem. a. If the business is operated as a partnership,
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a. If the business is operated as a partnership, explain the payroll tax/self-employment tax implications for the entity, Thomas, and Angela. (No calculations required.)
b. If the business is operated as an S corporation, explain the payroll tax/self-employment tax implications for the entity, Thomas, and Angela. (No calculations required.)
c. Given your discussion, how might payroll tax/self-employment taxes influence Thomas and Angela’s choice of entity through which to operate their business?
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Principles Of Taxation For Business And Investment Planning 2016 Edition
ISBN: 9781259549250
19th Edition
Authors: Sally Jones, Shelley Rhoades Catanach
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