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If your client wanted to start a new business, for example manufacturing watches, and asked you to identify the tax consequences of being in business as a sole proprietor, regular ‘C‘ corporation, S corporation or a partnership, what would you recommend?   Please include:   –       Tax Rates –       Accounting methods –       Computation of income –       Deductions –       Charitable contributions –       Casualty losses –       Ownership –       Net operating loss –       Capital gains and losses –       Dividends / distributions –       Due dates –       Filing   This is not an all-inclusive list. Please site all of your sources. The paper (without the bibliography or cover page) should be at least 7 pages, double spaced.