Joe (age 66) owns a boat dealership in Florida that is reporting income as a sole proprietorship. Joe is thinking of bringing in his daughter, Sally (age 33), to help with management and he would like her to receive $100,000 in compensation for managing the business. Joe has been filing schedule C for his business income. Last year, the dealership made $700,000 in taxable income. Projected income before salaries, if any, for next year is $900,000. Joe Bob needs tax advice about changes that he might make in how he reports income from the business. Should he file next year as a partnership, an S Corporation, or a C Corporation? Explain the advantages and disadvantages of each choice. Provide a recommendation for Joe Bob for the business entity.