should choose your recommended business entity. Consider referencing appropriate tax code and regulations. 1. Defend your business entity recommendation by describing the accounting method. Consider the advantages and disadvantages of the business entity based on the following: 1. Cash basis vs. accrual 2. The cost to prep the returns 3. The tax benefits 4. The limited liability protection 5. Employee benefits C. Interpret the tax law pertaining to the type of business recommended and justify your
Words: 578 - Pages: 3
should choose your recommended business entity. Consider referencing appropriate tax code and regulations. 1. Defend your business entity recommendation by describing the accounting method. Consider the advantages and disadvantages of the business entity based on the following: 1. Cash basis vs. accrual 2. The cost to prep the returns 3. The tax benefits 4. The limited liability protection 5. Employee benefits C. Interpret the tax law pertaining to the type of business recommended and justify your
Words: 578 - Pages: 3
Enterprise Risk Management — Integrated Framework Executive Summary September 2004 Copyright © 2004 by the Committee of Sponsoring Organizations of the Treadway Commission. All rights reserved. You are hereby authorized to download and distribute unlimited copies of this Executive Summary PDF document, for internal use by you and your firm. You may not remove any copyright or trademark notices, such as the ©, TM, or ® symbols, from the downloaded copy. For any form of commercial exploitation distribution
Words: 3205 - Pages: 13
PART A Business Forms of Organization SOLE PROPRIETORSHIP: A sole proprietorship business is owned by a single individual and is not legally differentiated from the owner. It is the simplest form of business as there is less paperwork and it is subject to fewer regulations and restrictions. It is not usually required to register as a business unless it operates under a fictitious name or provides supplies or services that require licensing. The owner has complete autonomy for all business
Words: 2516 - Pages: 11
TASK 1 PART A SOLE PROPRIETORSHIP Sole Proprietorship is a business organization where the owner and the business are one and the same. No legal difference. A few advantages of sole proprietorship is that the individual proprietor owns and manages the business and is responsible for all business transactions. The owner is also responsible for all debts and liabilities incurred by the business. I believe the most significant disadvantage as a sole proprietorship is that fact that if sued, the
Words: 2321 - Pages: 10
Functions of Law Paper Mark Patterson LAW/421 Contemporary Business Law February 25, 2013 Tad Davis Role and Functions of Law Paper Law is defined in layman terms basically as a set of rules of action or conduct that is governed by a controlling authority such as local, state, and federal legislators. These levels of government regulate individuals and businesses using any combination of constitutional law, statutory law, common law, and administrative or regulatory law. After these laws are passed
Words: 638 - Pages: 3
and Howard Chao | September - October 2001 Issue: Cover by Greg Berger Design, Inc Cover Photo by Gregory S.Heslin Patrick M. Norton and Howard Chao are partners at O'Melveny & Myers LLP, in Shanghai. | China's M&A laws allow foreign investors to restructure investments and expand their market presence Local "equity exchange centers" have been established in Beijing, Shanghai, and in Shenzhen, Guangdong Province, in some cases for specialized, high-technology deals
Words: 5224 - Pages: 21
Law paper / Role and Functions Joshua P.W. Patterson LAW/421 May 4, 2015 Linda Gollub Law paper / Role and Functions This academic paper will be focusing on society, and the role business law has in contributing functions of an everyday business. A subject of interest will be the addressing the needs for rules and regulations that have been established as law for companies. In addition to grasping at understanding of business law and the need this paper will go over some benefactors the law
Words: 747 - Pages: 3
Limiting Civil Liability in the Sphere of Business Auditing Carmen COSTULEANU University “Petre Andrei”, Iaşi ccostuleanu@yahoo.com Ionel BOSTAN University “Al. I. Cuza”, Iaşi ionel_bostan@yahoo.com Emil HOROMNEA University “Al. I. Cuza”, Iaşi emil.horomnea@yahoo.com Marcel COSTULEANU University “Gr.T. Popa”, Iaşi mcostuleanu@yahoo.com Carmen CODREANU University “Petre Andrei”, Iaşi codrcarmen@yahoo.com Abstract. The statutory audit of business entities is represented by the audit of annual financial
Words: 3450 - Pages: 14
forms of business existing in the United States and their characteristics: a. Sole proprietorship b. General partnership c. Limited partnership d. C-corporation e. S-corporation f. Limited Liability Company This report contains an overview of some of the forms of business organizations that exist in the United States. Because of the federal system of the U.S., the many forms of business organizations are subject to the laws and regulations of the state
Words: 3961 - Pages: 16
