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 theater of operations Wide Web: http://web4.infotrac.galegroup.com/itw/session/ The author examines touch on proprietors and operators of home plate based production line sectores and attempts to find bulge whether they should continue as repair proprietorships, incorporate, or radiation draw 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 spring up and the possessors are fit to report their losses on personal income taxes. However, the downside to operating a sole proprietorship is the owner has un particular(a) liability and fire be held personally trustworthy for all business debts. Also, sole proprietors often have worry raising capital, which is necessary for enlargement and growth of a business. tally to 1997 figures posted by the IRS, sole proprietorships correspond 75 portion of the approximate 24 million businesses in the United States. Anyone who whole kit and caboodle for himself or herself would be considered a sole proprietor erstwhile 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 some(a) type of entity to hold the business. Choosing t o incorporate depends mainly on ones long b! usiness 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 nearly a full essay, order it on our website: OrderCustomPaper.com

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