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What tax issues should pete-joe consider for incorporation

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P&J Corporation is to be owned equally by Pete and Joe. The corporation will be formed by exchanging the assets and liabilities of the P & J Manufacturing Partnership for all of the corporation's stock on September 1 of the current year. Both shareholders use the calendar year as their tax year and desire to make an S election.

What tax issues should Pete and Joe consider with respect to the incorporation?

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Accounting Basics: What tax issues should pete-joe consider for incorporation

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Accounting Basics: What tax issues should pete-joe consider for incorporation

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