The notification accompanying a check that indicates the specific invoice being paid is called a

William Smith is a sole proprietor of a successful business. He is interested in incorporating to protect his personal assets. Which advantage of incorporation is most applicable? What are other advantages of organizing as a corporate entity?

What will be an ideal response

A tax preparer has advised a company to take a position on its tax return. The tax preparer believes that there is a 75% possibility that the position will be sustained if audited by the IRS. If the position is not sustained, an accuracy-related penalty and a late-payment penalty would apply. What is the tax preparer's responsibility regarding disclosure of the penalty to the company?

A. The tax preparer is responsible for disclosing both penalties to the company. B. The tax preparer is responsible for disclosing only the accuracy-related penalty to the company. C. The tax preparer is responsible for disclosing only the late-payment penalty to the company. D. The tax preparer has no responsibility for disclosing any potential penalties to the company because the position will probably be sustained on audit.