One question that I often hear is what type of business organization should I choose and how business structure affects tax. While reading Accounting Today, which I am sure that all of you do, I saw this infographic (How Business Structure Affects Taxes) recently and thought it was a great reference for a small business owner. In addition, I am working on a new series for business structures that will come out in a few weeks.
The online accounting education site Accounting Degree Review recently created an infographic on “How Business Structure Affects Taxes,” comparing the benefits and requirements of various entity types such as sole proprietorships, partnerships, C corporations, S corporations, LLCs and cooperatives.
You can check it out at this link or below.