| DESCRIPTION |
SOLE PROP |
GEN PART |
LP / FLP |
C-CORP |
S-CORP |
LLC |
| Ability to deduct business loss on personal return |
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| Owners can participate in management and retain liability protection |
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|
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| Easy to form and requires limited record keeping |
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| Number of Owners / Members |
 |
 |
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|
 |
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| Has restrictions on ownership |
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| Subject to Double Taxation |
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| Limited Liability for "All" Owners |
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|
 |
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| Basis for Loss includes owner's share of company debt |
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| Can use special allocation rule on items of income and expense |
|
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| Are allowed to contribute and distribute appreciated property tax free |
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