In your free time, when you are not studying for ACCY 312, you invented a new app to assist taxpayers with preparing their individual income tax returns. You anticipate incurring costs to market the app and to make regular updates for tax law changes. You have enlisted your friend that is studying marketing to help with the business. 

What type of entity are you going to select for your tax app business? And why? How might your friend from marketing factor into your decision? Please provide both tax and not tax reasons for your decision.

Answer rating: 100% (QA)

When selecting an entity for the tax app business there are several options to consider including a sole proprietorship partnership limited liability ... View the full answer