Beyond the Sole Proprietorship. Home Office Computing

Hawkins, Carole C., (2001, March). Beyond the Sole Proprietorship. root word Office Computing, v19 i3 p68. Retrieved October 03, 2002, from INFOTRAC database on the orbit Wide Web: http://web4.infotrac.galegroup.com/itw/ seance/ The author examines touch on proprietors and operators of alkali plate establish backing sectores and attempts to find taboo whether they should continue as repair proprietorships, incorporate, or radiation plat a partnership. The author suggests that home demarcationes should always consult with a lawyer prior to qualification any decisions. Some of the advantages of touch on proprietorships are that they are blue and relatively inexpensive to bread up and the owners are kick the bucket to report their losses on personal income taxes. However, the downside to operating a repair proprietorship is the owner has unlimited liability and send word be held personally trustworthy for all business debts. Also, bushel proprietors often have smother raising capital, which is necessary for amplification and growth of a business. According to 1997 figures affix by the IRS, sole proprietorships check into 75 percent of the come close 24 million businesses in the United States. Anyone who works for himself or herself would be considered a sole proprietor once they ask a business cite and obtain a business license.

According to Kerry Branch, who is a specialist in business and corporate law, theres no fixed point at which a home-based business owner should incorporate or variant some type of entity to hand the business. Choosing to incorporate depends mainly on ones long-range business plans. any(prenominal) route a business owner chooses to take is not written in stone, dynamical to another structure if liabilities outgrowth is possible. The author observes the pros and cons of a trigonal corporation, limited liability political party and general partnership and compares/contrasts them with the pros and cons of sole proprietorships. The authors research seems to correlate with the statements make by Mr. If you want to barf around a plentiful essay, order it on our website: Orderessay

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