Writing is such an important skill, even in the area of accounting and especially in the area of tax accounting.
Once again you will be taking on the role of a tax advisor for Bing Bakery, Inc. (Bing) and its owners, Monica and Chandler Bing. As you know from the information provided to you for your first memo, Bing is a newly formed corporation. In Unit 3, you addressed the tax treatment of organization and start-up costs for a corporation. Advise the Bings regarding the differences between a C corporation and an S corporation.
