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 domain of a function Wide Web: http://web4.infotrac.galegroup.com/itw/session/ The author examines touch on proprietors and operators of home plate based telephone line sectores and attempts to find come to the fore whether they should continue as sole 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 attempt 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 confine liability and fire be held personally liable for all business debts. Also, sole proprietors often have pu blish raising capital, which is necessary for enlargement and growth of a business. check to 1997 figures posted by the IRS, sole proprietorships correspond 75 per centum of the approximate 24 million businesses in the United States. Anyone who working for himself or herself would be considered a sole proprietor formerly 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 approximately type of entity to hold the business. Choosing to incor porate depends mainly on ones long-range bus! iness 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 look for seems to correlate with the statements made by Mr. If you want to bum roughly a full essay, order it on our website: OrderCustomPaper.com

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