Refer to the Ethics & Equity information reflected on page 22-16 of the textbook. Prepare a discussion board post commenting on the ethical considerations of the actions described. Your discussion will include references to outside information as necessary. You should also respond to two other discussion board responses.

Your S corporation client has read that a Schedule M3 is required for all S corporations with at least $50 million of assets. He says that the new schedule will reveal between 75 to 90 percent of the companys book-tax differences. Although this new schedule will help IRS agents find abusive transactions, your client is concerned that it will impose additional compliance burdens. The clients S corporation is approaching $50 million of assets, and he is thinking of either distributing some of the entitys business assets to himself or engaging in a spin-off. Is it ethical to consider these actions?