In this paper there will be backchat about different types of business grammatical constructions. Each business structure has its own advantages and disadvantages. This paper will outlined certain advantages of distributively type of business structure and examples of an appropriate business poser that would be ideal for the specified structure.
Sole Proprietorship
A mend proprietorship is a business that is owned by sensation individual. The advantages of establishing a sole proprietorship is that it is easy and simple. The business is belong by one person and there is no greenback between the individual and the company. The owner receives wholly the profits and has all the responsibilities for any debts and liabilities. A good example of a sole proprietorship would be a proficient man. A handy man is a one man business that could good take advantage of the sole proprietorship. There would be no need to have a board of directors and to have to send additional and unnecessary paperwork in locate to function as a business. One of the biggest advantages of the sole proprietorship is the avoidance of organism double valueed. All of the expenses incurred to operate the business are tax deductable and if the proprietor files a joint return the losses git be applied to the spouses income as well.
This use may also help reduce the tax indebtedness for the family.
Partnership
A partnership is a business which is unincorporated in which multiple individuals have ownership and are equally reasonable for its debts (Cheeseman, 2010). A good example of this would be a economise and wife flower shop. This type of business structure would be ideal because the profits and losses can be shared equally. Additionally, there would be no double tax from macrocosm incorporated. This structure could also be a good look to reduce the tax liability for the entire family. The advantages are the identical as the sole proprietor (Investor words, 2011).
Limited Liability Partnership
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