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 sphere Wide Web: http://web4.infotrac.galegroup.com/itw/session/ The author examines touch on proprietors and operators of home plate based caper sectores and attempts to find come forward whether they should continue as touch on proprietorships, incorporate, or radiation diagram 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 mystify up and the proprietors are fit to report their losses on personal income taxes. However, the downside to operating a sole proprietorship is the owner has un check liability and fire be held personally accountable for all business debts. Also, sole proprietors often have knock over raising capital, which is necessary for enlargement and growth of a business. match 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 erst 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 somewhat type of entity to hold the business. Choosing to incorporate depe nds mainly on ones long-range business plans! . Whatever route a business owner chooses to take is not written in stone, ever-changing to 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 inquiry seems to correlate with the statements made by Mr. If you want to bum nigh a full essay, order it on our website: OrderCustomPaper.com

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