Explain the differences between the tax treatment of C Corporations, S Corporations, and Partnerships. Why would a business choose one structure over another?

$2.$ Describe the difference between a business's limited liability and its tax liability. How does a business protect its owners from being fully liable?

$3.$ Describe the essential features of the Estate and Gift Tax. What is the federal tax treatment on each tax? When would it apply and to whom would it apply?

$4.$ Describe in detail the purpose of a Trust. Explain the tax treatment of Trusts.