Submit a summary of how you would advise structuring the following businesses. Explain your rationale, to include advantages and/disadvantages to deciding on sole proprietorship, limited partnership, regular partnership, corporation, limited liability company, etc...
Tim is employed by a major pharmaceutical company and received a Form W2 at the end of the year for $150,000. During summer months, he has a fairly successful landscaping business, and hires 5-7 employees. He manages to show a modest profit of $20k-$30k each year, after all expenses. his taxable income is roughly $170,000.