Allie and Austin have operated a small florist business from their garage at home as an informal business for the last three years. After some deliberation, they have decided to make their business formal. They approach you, as a management consultant, to assist them in selecting the most appropriate form of business organization.
You have established that both would like to minimize their tax liability. Advise Allie and Austin on the most appropriate legal form of business organization based on this requirement.
Provide a brief outline of the strengths and weaknesses of the legal form of business organization recommended. What other legal form of business organization would you recommend they consider? What would be the motivation behind this recommendation?
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