What are the advantages and disadvantages of these businessorganizations
A) Sole proprietorship
B) Partnership
C) Corportion
D) Limited- Liability Company (LLC)
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What are the advantages of organizing a company as a corporationinstead of a partnership or sole proprietorship?
What are the benefits/downfalls of being a corporation vspartnership vs sole proprietorship for tax and legal purposes?
If you create an LLC do you default to a partnership orcorporation for tax purposes? Can an LLC be both?
Do corporations and partnerships both pay tax?
wk4#2 A client comes to you thinking about starting a consultingbusiness. Your client is specifically interested in what type ofentity should be created for this new business. Based on yourreadings, or any additional research you may have done, discuss theadvantages and disadvantages of the following: sole proprietorship,partnership, and corporation. Based on these advantages anddisadvantages, provide a clear recommendation to your client.