discussion post 684
4-1 Discussion: Business Formation: Aligning Tax Consequences and Business Characteristics Discussion Topic
Starts Aug 31, 2019 11:59 PM
this discussion, you will give an example of a hypothetical small
business startup situation and recommend the particular business form
you feel is most appropriate based on the characteristics of the
business in your example and the benefits of your chosen entity, and you
will justify your choice.
Insight gained from this discussion
will be useful in choosing the appropriate business form for the clients
from the final project scenario as you complete Milestone One.
proprietorships, partnerships, limited liability corporations, C
corporations, and S corporations all have distinct potential advantages
and disadvantages for tax purposes. However, potential tax implications
must be considered in tandem with the characteristics of a business and
the expectations and goals of the business owners to ensure the best
choice is made. When working as a financial advisor, one issue that
often arises is the need to assist a new business owner in identifying
the correct form a business should take, mainly for tax purposes.
this discussion, first read the selection from the course textbook.
Using your critical reflection on the reading and all of your knowledge
from the course so far, choose one of the five taxable entities and
present an example of a specific hypothetical startup business situation
for which your chosen entity might be appropriate, given the business
characteristics of the example you provide and the potential benefits a
particular form of entity offers. For example, if you gave the example
of opening a chain of gas stations with three other investors, you would
suggest what type of entity suits the situation and explain your
reasoning. Assume that one of the owners of your hypothetical business
is a Canadian citizen who is not a U.S. resident alien.
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