LO2 Herman, who is unmarried and has 2 dependent children, owns and operates a Communication Skills used
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LO2 Herman, who is unmarried and has 2 dependent children, owns and operates a Communication Skills used car lot as a sole proprietorship. The net income from the business is consistently
$120,000 annually. Herman’s friends have told him that he should incorporate his business, but he does not understand how this would give him any advantage. He has come to you for advice. Write Herman a letter explaining the advantages and disadvantages of incorporating his business.
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Related Book For
Concepts In Federal Taxation 2011
ISBN: 9780538467926
18th Edition
Authors: Kevin E. Murphy, Mark Higgins
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