Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / Module 2 Assignmenthttps://smallbusiness
Module 2 Assignmenthttps://smallbusiness.chron.com/advantages-disadvantages-ccorp-scorp-21120.html
Answer the following questions after reading the above links.
1. Name one of the three requirements to be classified as a personal service corporation.
2. Why would a taxpayer choose a C Corporation as opposed to an S corporation?
3. To receive tax-free recognition upon formation of a C Corporation, generally, what percentage of stock must the transferor(s) own immediately after the exchange?
4. Why would a taxpayer choose an S Corporation rather than a C Corporation?
5. How do you determine the basis of stock you receive in a C Corporation?
6. What tax form does a C Corporation file with the IRS to report its income, gains, losses, deductions, and credits?
7. What penalties does the IRS impose if a C Corporation files their tax return after the due date?
8. What are the permissible accounting methods allowed by the IRS for C Corporations?
