James and Dean plan to start a new business and have not yet decided whether to organize as a partnership, an S corporation, or a C corporation. They are interested in taking advantage of any tax-free...

James and Dean plan to start a new business and have not yet decided whether to organize as a partnership, an S corporation, or a C corporation. They are interested in taking advantage of any tax-free fringe benefits that may be available to them. Discuss the advantages and disadvantages from a fringe-benefit perspective of each form of business entity.