You are an enrolled agent with a new tax client Annika Popova. Annika is starting a new business and wants to know what entity structure might be good for her business. She will be the only owner, but in the future, she may want to add partners. (It takes place in the United States.)

Annika wants to know about the tax advantages for the business entities and which type of entity would limit her liability.

1. Discuss all advantages and disadvantages of each of the business entities you learned about in this lesson.
2. Identify which entity would fulfill Annika's requests.
3. Provide evidence to support your choice using your two required sources.