There are many variables to choosing the right business entity, but a good place to start is to prioritize liability issues over tax issues
Q: I’m trying to start an independent record label, and I’m also a piano accompanist. I’d like to combine both those services under one company, but I’m still deciding whether to classify my business as a sole proprietorship or a corporation. Would a corporation provide me with more tax advantages if I earn under a certain amount of income? If I’m more successful in subsequent years, would …