Judy Barnes, Betty Turley, and Bob Turner want to obtain limited liability for their business, but they want to avoid double taxation. Which type of business ownership would you recommend?

Question

Quizplus · Accepted Answer

An S-corporation would be the best choice because it provides limited liability for the owners and avoids double taxation. S-corporations are considered pass-through entities, meaning that the company's income is only taxed once, at the individual level, rather than at both the corporate and individual levels.

Judy Barnes, Betty Turley, and Bob Turner Want to Obtain