Expert answer:post a replay
Expert answer:post a replay foe each on of the five in ur own words,doesnt have to be long replay.
week6.docx
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Valeria Torres
Nov 26, 2017
Nov 26 at 5:26pm
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Thread 1:
Sole Proprietorship businesses can only have one owner, it has
unlimited liability, taxes are combined with the owner personal
income and the business, it has autonomy so the owner can
decide what they want to do with/ for the business including
money earned. Partnerships are similar to sole prop’s when they
are taxed and they have unlimited liability. Difference is with a
partnership they sign the articles of partnership to distinguish
what partner owns what. Corporations are a separate entity
separate from the owner. They must file articles of corporation,
usually require an accountant to keep everything in order, usually
there are license, attorney fees. Owners are called shareholders
and if the corp gets sued shareholders only lose what they
invested not any personal assets. LLC’s are similar to
corporations but the taxes on these are more flexible. They can
choose to get taxed like a corporation on net income or like a
partnership. LLP’s are similar to LLC’s but most common for
professionals.
If I were to open my own business I would probably establish an
LLC because of their flexibility. i would be able to decide how i
would want to file my taxes depending on my earnings and it
would separate the liability in between my personal and business
assets.
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Valeria Torres
Valeria Torres
Nov 26, 2017
Nov 26 at 5:29pm
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Thread 2:
Coming from an unethical point of view I would sell my portion so
that I wouldn’t lose out on my money invested. By doing this I
would be breaking federal law because i used inside information
that other consumers did not know. i allowed my own personal
gain and disregarding other peoples losses. this could result in
prison time just like Martha Stewart.
Julio C Hernandez
Monday
Nov 27 at 6:58pm
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My personal choice would be to have a business as a sole
proprietor. If I had come up with the idea I would like to take all
the consequences or rewards the business would spit out. One of
the main reasons I would chose a sole proprietor is because I
could apply for financing from the government or a private
institute. With a sole proprietorship I have complete control of the
business and can choose what I would like to do with my
business. I believe that Sole Proprietor would be the best route
for my business because it does have low cost and a easier
option for a start up business. Also I would take all the losses and
profits made from the company. The downside of a sole
proprietor is that your carry all of the company’s liabilities and that
means I could be sued and my personal assets can be taken from
me.
I would not like to be in a partnership, because one person can
sink the company to bankruptcy, With a limited partnership both
parties have to agree before making the final decision.
A corporation is complicated and it would also be more
expensive. Also you must follow a set of rules.
Julio C Hernandez
Thread 2
After I receive the information from my cousin working in XYZ
company I would take the loss. When you enter a or create a
business you know that there will be losses, so you should always
prepare for the worst. If you have a backup plan for big losses
you should not be as worried. If I sell and I get investigated for
insider information I will be breaking the antitrust law.
Fabian R Solorzano
Tuesday
Nov 28 at 10:30pm
Manage Discussion Entry
Reply One: After reviewing all of the various ways you can form a
business, think of the pros and cons for each way to do business.
Consider the ease of formation, the formalities if any in how you
make decisions and conduct business as well as financing and
your personal liability as the owner.
Tell the class what type of business you want to form (you can
make this up), what form you will use to create your business (
sole proprietor, partnership, limited partnership, corporation, LLC
etc.). Give the reasons why you feel that would be the best form
for you. In the discussion state why you would not chose all of
the other forms of business.
The type of business I would want to form would be an artist
management company and I would use an LLC. The reasons
I would use this form is because it offers limited liability,
flexible taxation, and it’s the most flexible and most
affordable option. There is a disadvantage with the LLC
option, which is to raise money but it’s an easy option to
convert into a corporation if needed. I would not choose a
sole proprietorship nor partnership options due it’s tax
disadvantages, and unlimited liability. And Finally the
corporation option would be to expensive and cumbersome
to manage at an early stage.
…
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