-1 Discussion: Tax Advice & Issues to Consider o begin your discussion explain how transactions…

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-1 Discussion: Tax Advice & Issues to Consider o begin your discussion explain how transactions quality as bunsiness exese eductions and provide examples Based upon your knowledge of deductibie usiness expenses and through research, address the folowling scenario an M tax advisor tr Bouteilles Gerbeuses has been your long-time tax clent. He has amassed an mpressive porttolio of real estate, securities, and joint ventune investments His net orth is substantial. Despite all his material well-being M. Gerbeuses wants to ke on a new chalenge, that of producing fine wines 1e already ons several tvdred acres of agriculturaly 20edladinte- region of the Nair Country Club and Retirement Resort subdivision He expects his start-up capital investment to be over $5 million and does not expect the erst harvest to take place for at least seven years afther the initiall planting of grape vines. He expects to offset amy losses by his other income Assuming Mr. Gerbeuses comes to you for tax advice on his new wine venture what tax advice will you provide, and what, if any. ehical isus should be considered? As you work to identily ethical concems and apoplicable aneas of taxation that Mr. Gerbeunes may require guidance and couse in consider the following ideas How will his entity choice impact both protection of assets and personal tax obligation What are the tax implications lassuming he has other family members ving and working on his large associated with employing family members estatel? What types of deductions/expenses might Mr Gerbuses be rightly entitled to; what types of deductions/jexpenses may provide opportunity for abuse Does placement of this personal property into business use present any ta benefits or consequences for the property owner? -1 Discussion: Tax Advice & Issues to Consider o begin your discussion explain how transactions quality as bunsiness exese eductions and provide examples Based upon your knowledge of deductibie usiness expenses and through research, address the folowling scenario an M tax advisor tr Bouteilles Gerbeuses has been your long-time tax clent. He has amassed an mpressive porttolio of real estate, securities, and joint ventune investments His net orth is substantial. Despite all his material well-being M. Gerbeuses wants to ke on a new chalenge, that of producing fine wines 1e already ons several tvdred acres of agriculturaly 20edladinte- region of the Nair Country Club and Retirement Resort subdivision He expects his start-up capital investment to be over $5 million and does not expect the erst harvest to take place for at least seven years afther the initiall planting of grape vines. He expects to offset amy losses by his other income Assuming Mr. Gerbeuses comes to you for tax advice on his new wine venture what tax advice will you provide, and what, if any. ehical isus should be considered? As you work to identily ethical concems and apoplicable aneas of taxation that Mr. Gerbeunes may require guidance and couse in consider the following ideas How will his entity choice impact both protection of assets and personal tax obligation What are the tax implications lassuming he has other family members ving and working on his large associated with employing family members estatel? What types of deductions/expenses might Mr Gerbuses be rightly entitled to; what types of deductions/jexpenses may provide opportunity for abuse Does placement of this personal property into business use present any ta benefits or consequences for the property owner?

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