Please write a letter to George and Georgina of approximately 500 words (this is a ballpark figure, but please stick to something like that guideline) explaining the income tax advantages and disadvantages to the family as a whole of each plan.
500 page paper explaining tax advantages and disadvatages, and the option they should chose.
preview of the answer..
Income tax is the kind of tax levied on salary, inheritance or profits from an investment. Income tax poses several advantages and disadvantages to the family. In this case setting up of a company to manage estates so that each beneficiary will benefit from it. The three plans each pose an advantage and disadvantage when it comes to the issue of income tax. Some of the advantages include:
Setting up a limited corporation to hold the money and gifting shares of the entity to all of their descendants. This is the simplest way of tax avoidance strategy. Parents transfer …
594 words APA