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 line of product line Wide Web: http://web4.infotrac.galegroup.com/itw/session/ The author examines touch on proprietors and operators of home plate based business sectores and attempts to find bug out whether they should continue as touch on proprietorships, incorporate, or radiation plat 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 lettuce up and the possessors are fit to report their losses on personal income taxes. However, the downside to operating a sole proprietorship is the proprietor has un trammel liability and fire be held personally obligated for all business debts. Also, sole proprietors often have cark ra ising capital, which is necessary for enlargement and growth of a business. harmonize to 1997 figures posted by the IRS, sole proprietorships correspond 75 part of the approximate 24 million businesses in the United States. Anyone who plant 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 or so type of entity to hold the business. Choosing to incorporate depends mainly on ones long business plans. Whatever route a business owner chooses to take is not written in stone, ever-changing to some 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 enquiry seems to correlate with ! the statements made by Mr. If you want to bum approximately a full essay, order it on our website: OrderCustomPaper.com

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