Portfolio

Unit 1 : Company Structure Which Company type? thither are quite a few ways to scratch line a business sector in New York. You can borrow your business as a Sole Proprietor, create a Partnership, or Incorporate. Though some of these options might seem confusing, we leave behind give you information on the different company expressions to back up you choose the right one for you. The type of company structure you will chose for your business depends on factors such as: riskyness of the industry, reckon of partners, financing requirements, taxation, long term vs. short term and others. We created a comparison chart below to illustrate the Pros and Cons of the different structures. It is authoritative that you consult with your accountant before making your choice, because she will be doing the tax filings and should feel comfortable with your choice of company structure. The much the accountant knows about the company structure, the more she can drive home on taxes and will be less likely to delineate a mistake. Using a attorney is not a requirement when starting your business; nonetheless it is recommended that you consult with your lawyer before forming your business.

Sole Propietorship |Pros: |Cons: | |Easy to start and manage | unfathomable ain liability for business debts and lawsuits | |Inexpensive |Illness can endanger your business | |No separate tax returns, business gains and loses are reported in|Difficult to find investors | |your personal income tax returns |May be at a disadvantage attracting employers who are looking| |Flexible to manage, it gives you complete control |for self-will in the business | |Business expenses and loses are... If you want to get a full essay, order it on our website: Orderessay

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