Write a tax memo, using correct grammar, spelling, and citations, of at least 5 double-spaced pages on the following tax research problem. Not a group project. You are the tax accountant. A client, Ima Riche, has the following tax concerns.

1. Her C corporation has amassed $1 million and has not declared a dividend in years. Also, the corporation debt/equity ratio is 4 to 1. Also, she is paid significantly more than other CEOs.

2. She has established a nonprofit corporation for needy college students. The corporation rents a building from her and pays her for being the CEO.

3. She has a partnership with Les Assets. The agreement allocates all capital gains to her and all ordinary income to Les.

Research and discuss the tax consequences.

Per US Laws