One thing at a time :-)
My feeling is: if it's income, it's income.
If you put windows on cars and get $30/hr for doing it, you've got $30 of taxable income. If you buy a put and that index goes down and you cover ... you've got taxable income. Dividends are the only tricky item, you just have to make sure that both sides get treated equally.
The corporate issue doesn't really have to change that much.
/jordan