Stephie Stein decides to offer administrative services including bookkeeping, letter writing, insurance management, bill paying, and checking account management for private customers. She will operate out of her home and will be the sole employee in the beginning. She is single and has mortgage on her condo.
Is it sole proprietorship, partnerships, LLC or corporation. You must support you answer by evaluating the needs of the particular business and the characteristics of the entity chosen. Evaluate for tax concerns, potential liability, governance, continuity, raising funds, and maximizing opportunities. Do not use platitudes or personal preferences as a rationale, rely solely on facts.