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Homework 5

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  1. Which of the following are federal income tax considerations when selectng an appropriate ownership form?
    (Check all that apply)
    a.  Avoidance of double taxation
    b.  The ability to pass through profits and losses
    c.  Deferral of payment of taxes
    d.  Flexibility in allocating gains and losses
    e.  Capital gains treatment
  2. Important considerations in selecting the proper ownership form include which of the following?
    (Check all that apply)
    a.  Tax consequences
    b.  Public image
    c.  Cost and complexity of creation
    d.  Allocation of ownership rights
    e.  Degree of privacy for the owners
  3. Assuming the owner is not involved in managing the property, which of the following would afford the owner limited liability?
    (Check all that apply)
    a.  Partnerships
    b.  C corporations
    c.  S corporations
    d.  Being a limited partner
    e.  REIT
  4. Which of the following ownership forms affords the owner the most protection of his/her privacy?
    (Check one.)
    a.  REIT
    b.  S corporation
    c.  C corporation
    d.  Limited partner
    e.  Land trust
  5. Which of the following ownership types would be most concerned that the legal form be careful to avoid continuity of life, giving the owner the right to participate in the management of the property, and giving all of the owners limited liability?
    (Check all that apply)
    a.  S corporation
    b.  C corporation
    c.  Limited partnership
    d.  Land trust
    e.  Cooperative

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