Small-Business Idea Paper There are plenty of ideas for a possible small business, but one must look past just the idea or hopes of opening a small business and think about the legal, tax, accounting, and other items that need to be addressed in establishing a small business. One of the first things to consider is, as what type of entity the company will be chartered or established, and what rules apply for the state in which the company is located. For the purposes of this paper, the potential
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Tiare Gomes Business Marketing Management April 2013 Task 1 (310.1.2-01-06) SOLE PROPRIETORSHIP: The Sole Proprietorship is a business owned completely and solely by one person. It is easy to start this type of business because legal formalities are minimal. Sole Props are popular amongst small businesses or start-ups because of this simplicity. Business taxes are done all under one filing (the owner files his taxes normally with the form 1040 and a schedule C) and all gains and profits belong
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Business Structure Advice Michelyn Johnson FIN/571 July 7, 2014 William Mellett Business Structure Advice Many entrepreneurs will make the decision to start their own business and work for themselves. By doing this they must develop a business plan and decide on what business structure to use. Below is an email from an aspiring business owner asking for guidance on which way would be the best to start up and finance his business. Dear Consultant, I am currently starting a business and
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TAXES – All income earned by the business is recognized as personal income by the owner. There is no legal difference between the owner and the business. • LONGEVITY/CONTINUITY – The business fails to exist if the owner dies, or quits. • CONTROL – The owner is the business; the business and the owner are the same. There is only one owner. Sole proprietors have full autonomy of the business (Forms of Business Organization, n.d.). • PROFIT RETENTION – If the business makes a profit, that money belongs
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Business Structure Advice Corporate Finance/571 Robert Freitas, Jr August 11, 2014 From: Sent: December 2, 2012 To: John Owner CC: Subject: Advice in starting your business Business Structure Advice Dear John Owner, Starting a business is an extremely important decision and will be a very demanding venture that you will partake in. You ask for my advice regarding business structures and how to continue given your recent formulated business plan. I have enclosed a chart that
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the parent the employer is obligated to observe the Family and Medical Leave Act of 1993. Although employers are required to observe the law the employer can not be bias concerning the employee’s situation. The law is not base on whether the employer agrees or disagrees with what, why or who the employer’s only concern is the observation of the law. The employer’s only concern if the company falls under the requirement is to follow the FMLA or face persecution. There is no mention in the act
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Business Organization Diane decided to open a soul food restaurant in the local community on her own to make money a sole proprietorship and using family tradition recipes. There was money being made but not as should have due to being the only one doing all the tasks which make it harder. Diane began thinking and then talked to other family members to see if there will be a partnership created to make the business easier and not all on one person. All in partnership contributed money
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The Family and Medical Leave Act (FMLA) of 1993 were established to assist employees with balancing work and personal life. The law was designed to give employees the assurance of not losing his or her job in the event one needed to take leave of absence to care for a family member or his or her own personal illness. The following report provides information about a scenario that occurred at Fade In-Interior Auto Dealership. First, this report explains if it matters that a parent literally having
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treated. Then there are some children who may put their differences aside and will take care of their parent due to their believe and morals to do the right thing. Explain whether the size of the business can have any effect on whether Tony is eligible for family leave under the FMLA. The size of the business can have an effect on whether Tony will be eligible for family leave under the
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friend when he was discussing his personal business about his father. Herman took the conversation and made it fit into his decision for wanting to deny Tony Family Medical Leave. Herman acted egotistical and irrational about Tony’s dilemma with his father. Herman’s talk with his father and last threat that he made to Tony by was not professional or thoughtful. Herman should do a reality check and think of family while thinking of making his business prosperous. Tony is placed in a horrible situation
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