Leslie is excited to begin a personal shopping business.She is planning to have employees and is concerned about losing personal assets should something happen to the business.She would like to focus on profits and building a business but she does not want her business to pay its own taxes.What ownership structure is Leslie's best choice?

Question

Quizplus · Accepted Answer

An S corporation is the best choice for Leslie because it allows her to have employees and protects her personal assets from being used to cover business liabilities, while also enabling the business profits to pass through to her personal tax return, avoiding the double taxation that C corporations face.

Leslie Is Excited to Begin a Personal Shopping Business