profits from the business. Advantages: Easy and inexpensive to form. Costs are minimal, most of the costs are due to obtaining the proper permits. Complete control of the business. The owner makes all of the decisions. That person is not expected to consult with anyone when making decisions or changes to the business. Easy tax preparation is also an advantage. This form of business is not taxed separately. The tax rates are also the lowest of the business structures. Disadvantages: Unlimited personal
Words: 1657 - Pages: 7
global competitiveness by fostering educational excellence. Education is needed for humans to make an impact on society, and to make viable decisions and the right moves at the right time. It leads to better jobs and higher income, health and life expectancy, voter turnout, self-worth and dignity. Education trains the mind to think and make the right decisions(2006). Through education knowledge and information is received and spread throughout the world. Uneducated people who cannot read and/or write
Words: 2358 - Pages: 10
Design of a Social Media Manager As the Internet continues to manifest itself into the central platform for a vast majority of retailers, the need for a well-versed marketing manager has developed a new target: social media. These new outlets can determine either marketing success or a quick marketing suicide if the correct individuals are not in place to manage and maintain the company accounts in the most respectable manner. It would be of the highest regard for a company to acquire an individual
Words: 1728 - Pages: 7
Budget and Economic Outlook: Fiscal Years 2013 to 2023 Percentage of GDP 120 100 80 60 40 20 0 1940 1945 Actual Projected 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 Federal Debt Held by the Public Trillions of 2005 dollars 20 18 16 14 12 10 0 2000 2004 2008 Potential GDP GDP Actual Projected Percent 12 10 8 6 4 2 0 2000 Actual Projected 2012 2016 2020 2024 2004 2008 2012 2016 2020 2024
Words: 44343 - Pages: 178
Suggested time 50 minutes) Use a scantron to fill in the letter corresponding to the “best” answer. 1. Which of the following statements is NOT an objective of financial reporting? a. Provide information that is useful in investment and credit decisions. b. Provide information about enterprise resources, claims to those resources, and changes to them. c. Provide information on the liquidation value of an enterprise. d. Provide information that is useful in assessing cash flow prospects. 2
Words: 2007 - Pages: 9
distribute economic resources towards those with low incomes or special needs. Taxes provide the revenue needed for critical public services such as social security, health care, national defense, and education. 1. The tax administration system in United States The U.S. system of tax administration is based on the principle of self-assessment. In a self-assessment system, taxpayers calculate and pay their own taxes without the intervention of a tax official. If this is not done appropriately
Words: 12375 - Pages: 50
no formal paperwork or license, all you do is create it and go into business. The tax advantage of them is that any profit earned is treated as your personal income, and not treated separately by the IRS. Thus, you do not need separate or special taxes prepared each year for the business. These are the advantages of sole proprietorships. The largest and most daunting disadvantage is that any debts or legal judgements against your business are your personal responsibility. Your personal assets
Words: 1252 - Pages: 6
PUBLIC-PRIVATE PARTNERSHIPS AT THE BRAZILIAN AIRPORTS ANDRÉ SOUTELINO Lawyer. Bachelor‟s degree: Law, Universidade Cândido Mendes (2004). Post-graduation in Private Law, Universidade Federal Fluminense (2007). Master‟s Student in Economic Law and Development– research project: Regulation, Competition, Innovation and Development. e-mail address: andrelds@unisys.com.br. ABSTRACT This paper explains the reasons for investments on infrastructure by the private sector. Today, there are prisons, water
Words: 5082 - Pages: 21
liability issues, and the risk issues that must be taken into consideration. In following scenarios the discussions will cover elements from above, and discuss employment laws and regulations, necessary for the business to be conventional when making decisions. Scenario One In this scenario Lou and Jose had made plans to open a sports bar and restaurant where their customers are welcome to socialize while enjoying sporting events on a large screen television. Though Lou and Jose do not have the money
Words: 1039 - Pages: 5
Week 4 Assignments AC553 Federal Taxes and Management Decisions Question 14-4: Code Sec. 351 allows investors to avoid recognizing gains on transfers of assets to a corporation in return of property. The purpose is to avoid discouraging investors from contributing to corporations. Corporations are considered significant stimulants of the economy. Question 14-20: Corporations may elect a calendar year, or a fiscal year, regardless of the tax years of its owners. Partnerships need to
Words: 375 - Pages: 2
