Create a tax memo

You are a tax accountant. A client, Ima Riche, has the following tax concerns.

1. Her C corporation hs amassed $1 million and has not declared a dividend in years

2. A partnership in which she is a partner wants to distribute most of its long term capital gains to her and most of the ordinary income to less wealthy partners.

3. If she sets up a trust for her child with her as trustee, then she dies, what are the estate tax concerns?

What are the tax con