business, there are several key factors that you all must consider in order to receive the best possible tax treatment. As your tax advisor, I recommend forming a partnership limited liability company (LLC) in order to best fit all three of your desires. Of course, there will be pros and cons to any business formation you choose, but the partnership LLC business formation will be the most satisfying to all three investors. The formation process of the LLC would begin by establishing your individual basis
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all the business' obligations. Examples of sole proprietorship businesses are 1. General stores 2. Hair dressers 3. Dry cleaners 4. Free lancers 5. restaurant 2. Partnership A business organization in which two or more individuals manage and operate the business is partnership. Both owners are equally and personally liable for the debts from the business. Every accomplice adds to all parts of the business, including cash, property, work or aptitude. Consequently, every
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| Sole Proprietorship | Description | In a sole proprietorship, the business and single owner are one in the same. A single owner makes all decisions with regard to the business and the single owner retains all profits earned by the business. The single owner is also responsible/liable for all debts and obligations of the business on a personal level. | Two Advantages | A sole proprietorship is easy to create; there is minimal creation cost and time.The single owner has autonomy in decision making;
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| Name | Email | From | Lives In | 1 | Ahmed Mahmoud Turki Al Darabseh | ahmadturki88@live.com | Jordan | UAE | 2 | Andrew Thompson | at4933@ship.edu | USA | USA | 3 | Xandrea Lancaster | Xandrea.Lancaster11@stjohns.edu | USA | USA | 4 | Fabiana Florenço Gil | fabianaffgil@gmail.com | Brazil | Brazil | 5 | Nurfatin Binti Walid | nurfatin_walid@yahoo.com | Malaysia | Malaysia | The Mobius Social Learning Platform (Mobius SLIP) Professor Djamel Eddine Laouisset Faculty of Business
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Executive Summary Computer Gaming is nothing new in our generation. It is also known as Electronic sports (eSports), which comprises the competitive play of video games. Other terms include competitive gaming, professional gaming, and cybersport. The most common video game genres associated with electronic sports are real-time strategy (RTS), fighting, first-person shooter (FPS), massively-multiplayer online (MMOG), and racing. Games are played competitively at amateur, semi-professional and professional
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of each business type are not known. Deciding on what type of business entity to have one will have to look at the different types of business structures and then decide accordingly. There are vast differences between the sole proprietorship, partnership, limited liability company (LLC), and corporation and understanding each is vital. A sole proprietorship is a business entity that is solely dependent upon only one owner. Once a business plan is made and the proper licenses have been obtained
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business in return for a percentage ownership” (University of Phoenix, 2010, p.14). There are three partners, two of them will be active in the business the third will not but provides the capital to get the business up and running. A limited partnership (LP) is the proper
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are formed by an individual or group of individuals, who engage in business activities with an aim of making profits (Emerson, 2013). There different types of business entities which includes but not limited to the following; sole proprietorship, partnership, and corporations. When starting an enterprise, it’s always significance to decide the form of business entity to develop. This is because an entrepreneur will be able to ascertain the legal requirements, liabilities, revenue tax returns forms to
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in the United States and abroad. Choosing what form of business organization can be an important decision. Some businesses become successful, while there are some that fail. The three forms of business organizations are, sole proprietorship, partnership, and corporation. In this paper, I will discuss the three forms of business organizations, how much control its owners have, advantages as well as disadvantages and legal liability. The most common type of business operating in the United
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Sole Proprietorship: Sole Proprietorship is a very common form of small business organization. Benefits include having complete and total control as to how the business is run, marketing, hours, as well as the immediate dissolution of the business. Disadvantages range from personal liability for the business. A sole proprietor is also held responsible for all taxes for the business as personal income. Liability: A sole proprietor is held personally liable for any errors or damages caused by the
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