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While attending a recent dinner party, Sally and Lily were talking to a friend who was surprised that they are in a partnership structure. They suggest that their accountant has advised that a company structure would be better and recommend that Sally and Lily speak to their accountant to ask about operating the Healthy Snacks business through a company structure (note, you will not be asked to determine any tax gains/losses on changing the structure). As their accountant, you need to advise them on tax implications, ease of business, legal liability and more on this.

While attending a recent dinner party, Sally and Lily were talking to a friend who was surprised that they are in a partnership structure. They suggest that their accountant has advised that a company structure would be better and recommend that Sally and Lily speak to their accountant to ask about operating the Healthy Snacks business through a company structure (note, you will not be asked to determine any tax gains/losses on changing the structure). As their accountant, you need to advise them on tax implications, ease of business, legal liability and more on this.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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While attending a recent dinner party, Sally and Lily were talking to a friend who was surprised that they are in a partnership structure. They suggest that their accountant has advised that a company structure would be better and recommend that Sally and Lily speak to their accountant to ask about operating the Healthy Snacks business through a company structure (note, you will not be asked to determine any tax gains/losses on changing the structure). As their accountant, you need to advise them on tax implications, ease of business, legal liability and more on this.
Transcribed Image Text:While attending a recent dinner party, Sally and Lily were talking to a friend who was surprised that they are in a partnership structure. They suggest that their accountant has advised that a company structure would be better and recommend that Sally and Lily speak to their accountant to ask about operating the Healthy Snacks business through a company structure (note, you will not be asked to determine any tax gains/losses on changing the structure). As their accountant, you need to advise them on tax implications, ease of business, legal liability and more on this.
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