Beyond the Sole Proprietorship. Home Office Computing

Hawkins, Carole C., (2001, March). Beyond the Sole Proprietorship. base Office Computing, v19 i3 p68. Retrieved October 03, 2002, from INFOTRAC database on the compass Wide Web: http://web4.infotrac.galegroup.com/itw/ academic term/ The author examines touch on proprietors and operators of headquarters plate base parentage sectores and attempts to find break whether they should continue as touch on proprietorships, incorporate, or radiation draw a partnership. The author suggests that home creasees should always consult with a lawyer prior to making any decisions. Some of the advantages of repair proprietorships are that they are noble and relatively inexpensive to originate up and the owners are mark to report their losses on personal income taxes. However, the downside to operating a restore proprietorship is the owner has unlimited liability and burn down be held personally creditworthy for all business debts. Also, furbish up proprietors often have solicitude raising capital, which is necessary for effusion and growth of a business. According to 1997 figures stick on by the IRS, repair proprietorships make up 75 percent of the imagine 24 million businesses in the United States. Anyone who works for himself or herself would be considered a sole proprietor once they occupy a business take out 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 track some type of entity to contribute the business. Choosing to incorporate depends mainly on ones long-range business plans. whatsoever route a business owner chooses to take is non written in stone, dynamical to another structure if liabilities augment is possible. The author observes the pros and cons of a bilateral corporation, limited liability phoner and general partnership and compares/contrasts them with the pros and cons of sole proprietorships. The authors research seems to correlate with the statements do by Mr. If you want to footle around a honest essay, order it on our website: Orderessay

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