Your client, Steve, is an engineer whose income has doubled over the past four years. He feels
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Your client, Steve, is an engineer whose income has doubled over the past four years. He feels that by incorporating he could reduce his tax significantly. However, he can demonstrate no business purpose for incorporating as he is employed by an international oil company and he does no outside work. He asks you to request a ruling from the IRS regarding his proposed incorporation. Would you request a ruling for him?
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Incorporating a business typically offers tax benefits and liability protections but it req...View the full answer
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Related Book For 
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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