If you are currently a business owner, which form of business organization did you choose and why? Tell us about your business and the advantages and disadvantages the form of business you chose offers.

The rest of you, assume you will someday be an owner or manager of a business. What form of business organization do you think you will choose and why? Include a discussion of what you plan to do for a living or make up a hypothetical business that interests you and discuss the pros and cons of the business organization forms you are considering.

In your responses to your classmates' posts, assume the role of a CPA consulting your client on entity selection (or just a friend giving advice is fine too). What is your friend failing to consider? What are your suggestions?