A closer look Choosing a Tax-Efficient Business Entity

In Brief

• The Tax Cuts and Jobs Act of 2017 (TCJA) made sweeping changes to the federal tax code, including several major changes to the taxation of business income. The applicability of these rules varies based on the type of business entity involved.
• Choosing the best type of business entity for your company is more important than ever to maximize tax efficiency, but it can also impact the personal liability risk you may incur and your ability to raise money, among other important business considerations.
• In this A Closer Look, we focus on the tax and other consequences of various business entities and related planning opportunities for individuals.