Response to the following problem:
Ryan Amman, a friend from college, approaches you about forming a partnership to export software. Since graduating, Amman has worked for the International Trade Bank, developing important contacts among government officials and business leaders in South America. Amman believes he is in a unique position to capitalize on growing markets. With expertise in finance, you would have responsibility for accounting and finance in the partnership
Required:
Discuss the advantages and disadvantages of organizing the export business as a partnership rather than a proprietorship. Comment on how partnership income is taxed and how your taxes would change if you organized as an S corporation.