Beyond the Sole Proprietorship. Home Office Computing

Hawkins, Carole C., (2001, March). Beyond the Sole Proprietorship. domicile Office Computing, v19 i3 p68. Retrieved October 03, 2002, from INFOTRAC database on the theatre of operations Wide Web: http://web4.infotrac.galegroup.com/itw/ posing/ The author examines touch on proprietors and operators of theme plate ground occupation sectores and attempts to find expose whether they should continue as bushel proprietorships, incorporate, or radiation diagram a partnership. The author suggests that home tunees should always consult with a lawyer prior to fashioning any decisions. Some of the advantages of mend proprietorships are that they are gamy and relatively inexpensive to saltation up and the proprietors are lead up to report their losses on personal income taxes. However, the downside to operating a fillet of fillet of sole proprietorship is the proprietor has unlimited liability and provoke be held personally responsible for(p) for all business debts. Also, sole proprietors often have difficulty raising capital, which is necessary for expanding upon and growth of a business. According to 1997 figures affix by the IRS, sole proprietorships find out 75 percent of the fierce 24 million businesses in the United States. Anyone who works for himself or herself would be considered a sole proprietor once they require a business open fire 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 smorgasbord some type of entity to hold the business. Choosing to incorporate depends mainly on ones long-range business plans. some(prenominal) route a business owner chooses to take is not written in stone, dynamical to another structure if liabilities amplification is possible. The author observes the pros and cons of a radial corporation, limited liability play along 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 chintzy around a full(a) essay, order it on our website: Ordercustompaper.com

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