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You are meeting with two new clients. They are interested in forming a business to operate a restaurant. They will each contribute $100,000. They anticipate

You are meeting with two new clients. They are interested in forming a business to operate a restaurant. They will each contribute $100,000. They anticipate that they will need to borrow additional funds (they have sufficient collateral to do so). In addition one of the clients has significant NOL's which they would like to utilize. And the other client has significant income from investments which they would like to offset. Their business adviser contemplates that they will likely suffer losses for at least their first year of business. What questions would you ask them and why? What form of business would you recommend and why? What additional advice would you have for them

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