Labeling,Your,Business,Structu business, insurance Labeling Your Business Structure
Small offices have unique needs, and thatincludes document shredding. Designed with the smaller business inmind, the Dahle 20314 is a cross-cut shredder that offers Level 3security and brings you into compliance with federal regulations. The As we all know to live in this world we have to perform some activity by which we can earn money. There are many activities by which we can earn money and meet the standards to live in this society. And from one of them is franchise. Franc
Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0cm 5.4pt 0cm 5.4pt;mso-para-margin:0cm;mso-para-margin-bottom:.0001pt;mso-pagination:widow-orphan;font-size:10.0pt;font-family:"Times New Roman";mso-ansi-language:#0400;mso-fareast-language:#0400;mso-bidi-language:#0400;} What Are Your Options? There are a fewchoices when deciding your business structure, each of which has benefits anddrawbacks. Your choices include: · Sole Proprietorship · General Partnership · Joint Venture · Limited Partnership· · Limited liability Partnership · Corporation · Non-Profit Corporation · Professional Corporation So the questionis which structure is right for your business? In order to decide whichbusiness structure is right for what you plan to do, you will need tounderstand what each option is. Amajority of start-up businesses use either sole proprietorship or apartnership. Sole Proprietorship This structure isrun by one individual who is not looked at as an employee. Depending on thetype of business you are starting, you may or may not need licensing orpermits. When a sole proprietor files taxes, they are filing personal incometaxes with a Schedule C. General Partnership With a generalpartnership you are will be going into the business with more than justyourself. If you have the knowhow and someone else has the skills, then you twowould be partners or co-owners. The risk to this is that both personal andpartnership assets are liable. Limited Partnership This partnershipwill usually consist of one or more general partners and at least one limitedpartner. Limited partners are not thesame as general partners because they are only liable for what they contributeor invest into the company. They are alsoexempt from management tasks for the business. ALimited Liability Company This structure is a mix of a corporationand a partnership but a little more complex during the setup process. The company will be able to choose whether ornot they have a partnership tax procedure or a corporation tax procedure. Theadvantage is that there can be any amount of partners and each partner is notliable for the entitys debt. The most obvious factor involved whenchoosing your structure is whether you will be in business alone or withpartners or investors. Another issue to address is how liable you want to be orwhat you want your tax process to be. Needless to say this is not an overnight decision and should be wellthought through. The good news is thatyou can change the structure in the future but you may be obligated to meetcertain legal or tax regulations.
Labeling,Your,Business,Structu