Chang and George, high income taxpayers, are starting a new business that manufactures and sells explosives. They

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Chang and George, high income taxpayers, are starting a new business that manufactures and sells explosives. They expect the business to sustain $500,000 in losses in its first two years of operation, then gradually generate profits. Given their high income level, the nature of their business, and its projected operating results, what entity forms might Chang and George find advantageous, and why?

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Federal Taxation 2017 Individuals

ISBN: 9780134420868

30th Edition

Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson

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