What Is The Best Form Of Ownership For This?
Suppose you and some friends want tot start a business to take tourists on wilderness backpacking expeditions. None of you has much extra money, so you plan it to start small. However, if successful, you would like to expand into other types of outdoor tours and open up other branches or locations.
What form of ownership would be best for your new enterprise to take and why?
Depends on where you take them. If the terrain will be dangerous you should for an LLC so if someone sues they can't get your personal assets.
Go see a CPA. It will cost some money but they will help you cover your butt. Most people come to us after the fact and it costs them a heck of a whole lot more.
Starting a business can be fun but if it's not done right you can see the whole thing shut down by one mistake.
general partnership; no brainer.
it is instant.
no forms to fill out