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Dave and Donna, a newly married couple, plan to quit their jobs, move to Wyoming,...

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Accounting

Dave and Donna, a newly married couple, plan to quit their jobs, move to Wyoming, and open a software development business. Initially, they want the business to have a limited number of investors. They have lined up potential clients who will finance their initial efforts in return for software customization. They have no long-term plans to expand but their plans may change in the future.

  • What is the best business form should they use for their business venture?
  • What additional questions do you want to ask to help you determine the best business forms for their venture?
  • Which form of doing business would you recommend to them? Evaluate the pros and cons for each form of doing business for each of the friends on which you base your recommendations.

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