Business Owner Interview For this assignment, you will interview a business owne

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Feb 14, 2023


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Business Owner Interview
For this assignment, you will interview a business owner who has started a business. Only if you cannot find someone who started a business can you interview a CPA (or potentially Enrolled Agent ) who has helped clients start a business.
If you know someone who has started a business, or find someone who has done this, your assignment will be to interview the person you identify and discuss why he/she chose the business form that was chosen. Discuss with the business owner the tax & non-tax considerations that went into the business form decision process as well as tax & non-tax considerations for day-to-day operations. First, did the business owner even consider tax implications of forming a business? Did someone help them determine the business type on formation? What are the things the person thought about regarding getting their business started? What occurred to them later or what did they wish they knew when they started it?
Write about the business – what it is, what the owner does. Many business owners are passionate about their business and like to talk about it.
If you do not know a business owner and have trouble finding one, you may search out a CPA at an accounting firm.
The paper should only be between two to three pages in length. I’m not looking for an in-depth interview or comparison of business forms, merely the major considerations that went into the type of entity or that you would recommend to a client for choosing an entity type.
Assignment 2 Suggested Interview Questions – Please use these as a starting point but you’re not required to use all of them:
Potential Interview Questions:
Did tax minimization play a role in entity choice?
Did how the owner is compensated impact your decision?
Include a discussion of salary, fringe benefits for owner & employees (health care, dental, parking/transportation, other fringe benefits)
Did filing requirements impact your choice?
What other considerations did you discuss/think about when deciding to start a business?
What types of tax issues do you think about/consider in day-to-day operations?
Year-end tax planning?
If none of the above apply to your business owner, what did they think about in forming their business? What was important to them?
Did they seek professional help in forming the business?


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