Suzanne and Laura form a partnership to market local crafts. In April, the two women spent $1,600 searching for a retail outlet, $1,200 to have a partnership agreement drawn up, and $2,000 to have an accounting system established. During April, they signed contracts with a number of local crafters to feature their products in the retail outlet. The outlet was fitted and merchandise organized during May. In June, the store opened and sold its first crafts. The partnership paid $500 to an accountant to prepare an income statement for the month of June. What tax issues should the partnership consider with regard to beginning this business?