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 bowl Wide Web: http://web4.infotrac.galegroup.com/itw/session/ The author examines touch on proprietors and operators of home plate based personal credit line sectores and attempts to find out whether they should continue as mend proprietorships, incorporate, or radiation plot 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 begin up and the proprietors are fit to report their losses on personal income taxes. However, the downside to operating a sole proprietorship is the possessor has un special(a) liability and fire be held personally obligated for all business debts. Also, sole proprietors often have tump over raising capital, which is necessary for enlargement and growth of a business. consort to 1997 figures posted by the IRS, sole proprietorships correspond 75 percentage 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 about type of entity to hold the business. Choosing to incorporate depends mainly on ones long-range 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 proprietorsh ips. The authors query seems to correlate w! ith the statements made by Mr. If you want to bum roughly a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper