1. Sole Proprietorship
   1. No start-up paperwork
   2. Full and absolute discretion to make decisions
   3. no separate tax filling
   4. losses pass through your income tax return
   5. you may deduct health insurance premiums you pay for yourself
2. Partnership
3. Limited Partnership
4. Limited Liability Partnership
5. Corporation
   1. Can be hold by a single shareholder
   2. Corporate shareholders are shielded from personal liability
   3. Profit is not considered earned income
   4. As a owner you may pay yourself a salary. The amount you pay yourself wages is considered earned income
   5. Taxes rates may be better
   6. A corporate shareholder has flexibility to receive payments
      1. Wages and bonuses
      2. Loan repayments
      3. Dividends
      4. Capital distributions