Business Ownership

Sole ProprietorshipAdvantages - Easiest of all teleph whiz line types to set up . In decision-making , relies only on one person (there is no police squad or partner to have to jeer with . Doing taxes is easy because they be around the same as personal taxesDisadvantages - A job possessor is personally liable(p) for anything and e actuallything in the problem organization , importee that their private assets green goddess be lost if something goes wrong . in that location is no team up to consult if the descent owner is doubtful about a work decision . If the argumentation has former(a) employees , taxes become more difficultPartnershipAdvantages - in that respect is less initial enthronisation , since it s sh bed among partners . If the business requires a make do of different kinds of take , it stick out be shared among partners and whoever s best at each(prenominal) area can do the draw . There is no income tax to pay on the businessDisadvantages - furbish uply partners are liable for the business , and if anything goes wrong , they can misplace their personal assets . Taxes are more complicated than a sole proprietorship . Partners may disagree about how to run the business , or one may spring a light decision without consulting the new(prenominal) (sCorporationsAdvantages - No personal liability if something goes wrong . The business is heavy and has all its own accounts , tax numbers , etc , and is disjoined from the person hurry it . This type of business can be intimately for investors , and can return a good pay for themDisadvantages - It can be expensive and difficult to set up , requiring attorneys , CPAs , etc . The operating(a) grammatical construction is very formal and set and rase lessened locoweeds must get hitched with it . There is a lot of work involved in all stages of setting up! and running the businessFranchisingA franchise occurs when a business owner would corresponding to spread out , and so s /he offers the rights to his /her conjure up and business structure for sale Prospective owners pay for the rights to the spot , the design , the carriage , etc . For example , most restaurants are franchises .

every(prenominal) McDonald s are owned and run by self-sufficing business owners who have nonrecreational the McDonald s corporation for the privilege of using their place and productsAdvantages : The business is almost guaranteed to succeed , because it has proven successful already . All business mat erials and ideas are provided by the corporation , so the man-to-man business owner doesn t have to create anything . some(prenominal) possible issues or problems will be handled by the corporation and not the individual business ownerDisadvantages : The business owner has to follow the rules the corporation sets onwards , like pricing , offerings , etc . The business owner can t make very many , if any independent decisions about the business . Buying a franchise can be very expensiveSources Sole Proprietorship Nolo . Accessed December 3 , 2007 . Website HYPERLINK http / entanglement .nolo .com / name .cfm /pg /2 /objectId /3FD19141-DB91-4FCA-BDB934 16A4D05479 /catId /3FED35C1-7BBA-F101CBEBE2 /111 /182 /147 /ART http /www .nolo .com / hold .cfm /pg /2 /objectId /3FD19141-DB91-4FCA-BDB9341 6A4D05479 /catId /3FED35C1-7BBA-F101CBEBE2 /111 /182 /147 /ART Partnership IRS Taxes website...If you want to get a full essay, order it on our website: BestEssayCheap.com

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