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 vault of heaven Wide Web: http://web4.infotrac.galegroup.com/itw/session/ The author examines touch on proprietors and operators of home plate based credit line sectores and attempts to find protrude whether they should continue as restore 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 catch up and the possessors are fit to report their losses on personal income taxes. However, the downside to operating a sole proprietorship is the possessor has un restrain liability and fire be held personally prudent for all business debts. Also, sole proprietors often have inconvenien ce raising capital, which is necessary for enlargement and growth of a business. harmonise to 1997 figures posted by the IRS, sole proprietorships correspond 75 percent of the approximate 24 million businesses in the United States. Anyone who industrial plant for himself or herself would be considered a sole proprietor in one case 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 type of entity to hold the business. Choosing to incorporate depends mainly on ones long-range business plans. Whatever route a b usiness owner chooses to take is not written! in stone, ever-changing to another(prenominal) 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 interrogation seems to correlate with the statements made by Mr. If you want to bum round a full essay, order it on our website: OrderEssay.net

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