Grandpop and Grandmom died and left $100MM to their 5 grandkids. The first kid started up a sole proprietorship with his dental business. Kid #2 and #3 started a C corp. that manufactured clothing. Kid #4 and #5 started a partnership that provided investment advice. Now, why did these kids chose the structure they did? Who has liability and who doesn't. What else can they contribute to the new businesses? What happens if other new owners or partners come into the business? Show me show transactions like salaries, dividends, withdrawals,etc. How much tax did they pay? What are their basis in this businesses. What is taxable and what isn't. Additionally, many years later, as these children have matured and started their own families, should they start their own tax planning techniques to save on Federal Estate Tax and possibly pass on the businesses to the next generation. How can these people save taxes?

The students are required to prepare an oral and power point presentation on a four (4) page double spaced paper on an assigned managerial scenario.

And

POWER POINT PRESENTATION

Choice and expand on a current tax issue that relates to our class discussion.

1. Research periodicals and newspapers to determine the current legislative status of your issue as well as any political forces that may be supporting or deterring the issues.

2. Conclude with your participation in a group presentation to tie together all the elements of the class lessons.