When working as an accountant, one issue that often arises is the need to assist a new business owner in identifying the correct form a business should take, mainly for tax purposes. Choose one of the three taxable entities (proprietorship, partnership, or corporation) and present an example of a business situation that would correspond with that particular taxable entity. For example, if you are opening a chain of gas stations and you have three other investors, what business entity would be best to handle the tax reporting for your business venture? Explain your reasoning.

Pick something other then a gas station, restaurant or cleaning service.