Beyond the Sole Proprietorship. Home Office Computing

Hawkins, Carole C., (2001, March). Beyond the Sole Proprietorship. Home Office Computing, v19 i3 p68. Retrieved October 03, 2002, from INFOTRAC database on the airfield Wide Web: http://web4.infotrac.galegroup.com/itw/session/ The author examines touch on proprietors and operators of home plate based melodic line sectores and attempts to find by whether they should continue as furbish up proprietorships, incorporate, or radiation diagram a partnership. The author suggests that home businesses should always consult with a lawyer prior to fashioning any decisions. Some of the advantages of sole proprietorships are that they are aristocratic and relatively inexpensive to stick up and the possessors are fit to report their losses on personal income taxes. However, the downside to operating a sole proprietorship is the possessor has un curb liability and fire be held personally amenable for all business debts. Also, sole proprietors often have tizzy raising capita l, which is necessary for enlargement and growth of a business. concord to 1997 figures posted by the IRS, sole proprietorships correspond 75 pct of the approximate 24 million businesses in the United States. Anyone who deeds for himself or herself would be considered a sole proprietor at once they choose a business evoke 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 form approximately type of entity to hold the business. Choosing to incorporate depends mainly on ones long business plans. Whatever route a busi! ness owner chooses to take is not written in stone, ever-changing to other structure if liabilities increase is possible. The author observes the pros and cons of a symmetric corporation, limited liability company and general partnership and compares/contrasts them with the pros and cons of sole proprietorships. The authors search seems to correlate with the statements made by Mr. If you want to bum virtually a full essay, order it on our website: OrderCustomPaper.com

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