Discussion: "The Business Structure Dilemma"
Respond to the following:
Imagine that you are a tax consultant and must determine the most appropriate business structure for a small business entity. Compare and contrast S-Corporations, C-Corporations, and Partnerships in terms of tax consequences at formation, shareholder restrictions, income allocation, basis calculations, compensation to owners, taxation of distributions, and accounting periods. Determine what information must be collected regarding the business venture in order to make your recommendation. Defend your position.