A taxpayer is considering opening a gym. The gym will eventually be successful, but losses are predicted for the first few years before making a considerable amount of money. Currently, the taxpayer has other sources of income. The taxpayer is concerned about patron injuring themselves and suing the gym. The taxpayer has come to you, their trust accountant, for advice on which organizational form should be used. The optimal form would be: 

Sole proprietorship 

Partnership 

S corporation 

C corporation

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The detailed answer for the above question is provided below A Sole proprietorship A sole proprie... View the full answer