Problem scenario:
I decided to create a business. I'm in need of some advice on how to start forming my business. I have a well-developed plan but I am not sure exactly how it will be financed and whether or not I want to take on partners. I am interested and willing to learn the intricacies of my options to determine how to best proceed with my plan. I have not decided which type of legal business structure would be best for me. What advice would you provide in making this choice?
Please suggest on what my options are, the merits and demerits of each, and possible tax consequences for each scenario?