- What is a sole proprietorship and how is it taxed?
- Define the term “limited liability”.
- List the advantages of an “S” corporation
- Define the “progressive” tax
- Define the “fair” tax
- Define the “flat tax”
- Which of the three tax structures (questions 4,5,6) do you prefer and why
- What is the highest federal marginal tax rate for individual income tax payers?
- How do tax deductions and tax credits differ?
- Give an example of a current tax deduction and a current tax credi
