What's the best way to structure a business

So, its time to turn your dream, your passion or your idea into a business. When it comes to deciding how to structure your business there are a lot of choices. Do I form a LLC, a LLP, C Corp or just be a sole proprietor ? Each one of these structures have different filing requirements both at the state level and the Federal level with the IRS.
This is a question that most of my clients ask me , and my advice is always , for tax purposes and strategies the best way to go is a LLC taxed as a S Corp.
This structure has the most benefits for the owners, such reimbursements taxed at a lower rate, or not taxed at all, the distributions are not taxed or have a lower tax rate.
Another great benefit is that owners can participate in a Solo IRA , providing the meet the the criteria, this gives you a bigger retirement benefit and reduces the amount of taxes that are passed onto the owner on a schedule K.