Tuesday 24 June 2014
Ann and Jack have been partners for several years.
Ann and Jack have been partners for several years. Their firm, A & J
Tax Preparation, has been very successful, as the pair agree on most
business-related questions. One disagreement, however, concerns the
legal form of their business. Ann has tried for the past 2 years to get
Jack to agree to incorporate. She believes that there is no downside to
incorporating and sees only benefits. Jack strongly disagrees; he thinks
that the business should remain a partnership forever. First, take
Ann’s side, and explain the positive side to incorporating the business.
Next, take Jack’s side, and state the advantages to remaining a
partnership. Lastly, what information would you want if you were asked
to make the decision for Ann and Jack?
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