Joann and Bob, both single taxpayers in their mid-40s, own an employment business The firm finds temporary employment for students in the college town of Gainesville, Florida. They have operated the business as a two-person equal partnership for five years. Profits have grown in each of the first five years until the partnership earns approximately $300,000 per year. Bob's parents operate a small grocery store in Nebraska and have suc cessfully used the corporation form for many years. They have become confused with all the new business forms-limited liability companies, limited liability partnerships, S corporations, etc.--that people have recommended to them. Bob mentions that he and Joann each has been taking $60,000 out of his and Joann's business each year as distribu tions. They have come to you for help in determining whether their partnership form of business is the way to operate the business in the future. What strategies can you develop for improving Joann's and Bob's personal and business tax positions