Potential benefits and problems of electing to be taxed

Assume your client (fee! free to develop a creative client name or any respective facts you wish) requests
you explain in writing to its ownership group the potential benefits and problems of electing to be taxed as a
general partnership.

Prepare a letter to the client group in not less than 2-full pages. The letter should include professional tone
(welcoming greeting and conclusion), how the election can be made, the tax effects of both the partnership
and partners on contributed property by the partners to the partnership, and a comparison with corporate
taxation and organization.