Proprietorship, Partnership, Limited Liability Company, C Corporation
What to do?
The answer is "It Depends."
Depends on the:
type of business
size of business you imagine
number of owners and capital structure
location of business
risk factors (liability protection)
tax consequences
middle and long-range plan
...and more
You should consult your 1) accountant and then 2) your lawyer before diving headfirst into a business entity.
I have heard business owners bragging that their accountant is "creative" with deductions.
That is of course, usually illegal. Subject to reversal at audit. Subject to criminal actions if large or frequent.
Nobody likes to pay taxes, but cheating on your taxes puts you in jeopardy.
"But I have been in business 25 years and never been audited."
Regular cheating for that reason is known as "audit roulette." Not legal.
PS: If you are going to cheat on your taxes do not brag about it on social media.
