Appropriate Foundation for A Business
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Appropriate Foundation for A Business
In order to pick the appropriate foundation for your business you have to look at each one
and choose the one that will fit your business.
Sole Proprietorship is the most common and the simplest structure to start a business. It
is a business that is run and owned by one person and you are the one that reaps all the
profit.
- The Advantage of a Sole Proprietorship that it is easy to form and inexpensive, you
have complete control of the business and you make all the decisions.
- The Disadvantage there is no separation between you and the business, and you face
challenges to raise money and you have no legal separation between you and the
business. Banks are skeptical of lending money to a sole proprietorship. (Sole
Proprietorship, n. d.).
General Partnership is usually two or more partners that are responsible for the business.
The assets and profits are shared between the partners and they can both share the income
on their taxes and there is no taxation to the business itself. A General Partnership is
inexpensive to form and has very little paperwork.
- The Advantages of General Partnership they can pick and choose their management
structure and the partners can combine their financials and resources.
- The Disadvantage of a General Partnership is the liability because you are held personally liable for the business debit and its liabilities. (Morrow, 2009).
Limited Partnership starting this type of partnership you are 100% liable and you are
at a high risk and there is more than one limited partner. In this partnership they are
not able to handle the management, and they do receive a share of the profit as a limited
partner. (Morrow, 2009).
- The Advantages of Limited Partnership is that the partners can use their creative
expertise to make decisions that are important in managing the company.
- The Disadvantage of Limited Partnership this partnership is only for lawyers and doctors. It limits the number of businesses under this partnership. The other drawback is that they are personally liable for their own negligence or the negligence of their employees that work for them. (Morrow, 2009).
C Corporation is one of the oldest forms of business in the country and it is the most used, and these corporation are regulated under state law, and they vary from state to
state.
- The Advantage of a C Corporation is that it is separate and independent from its shareholders and it is protected from being liable for the business liabilities and obligations. The shareholder can sue in the behalf of the corporation, C Corporations stay in existence even if the owner dies.
- The Disadvantage of a C Corporation is to form one you must have articles of bylaws incorporated. They must also have established meeting for their shareholders and select a board of director. To maintain a C Corporation is expensive to maintain and it has many legal requirements. (Crowell, 2019).
S Corporation is a corporation that will be taxed as a flow through entity, the S is an IRS reference code. The S Corporation election allows the shareholders to be taxed they cannot be taxed corporate level, they have no federal income tax so they are not doubled taxed like the C Corporation.
- The Advantage of S Corporation is that it has limited liability for both management and their shareholders. They have no state requirements, and the District court know their existence which help to protect them from personal liability that could assist in them losing their personal assets. There is not start-up cost.
- The Disadvantage of an S Corporation shares are subject to seizure and sale in court proceeding, they are only allowed to have 100 shareholders that must be U. S. citizens, employees and owners can only have 2% holding in the company and cannot receive benefits that are tax free. (S Corporations: Learn 15 Advantages & Disadvantages, 2019).
Limited Liability Company (LLC) is a company that is sometime miscalled a limited liability corporation, it is also a company that the members are not liable for the company debit.
LLC is a partnership that is formal which requires that they file with the state and it is easy to setup. (Kenton, 2019).
- The Advantages of Limited Liability Company (LLC) has protection of personal assets, in the eyes of the law a Limited Liability Company is a separated and a distinct entity. Also, an LLC can be elected to be taxed and they have a flexibility of agreement that will allow the profits and losses to be split among the partners the way they want to and in case of death of the owner the company can cease to exist.
- The Disadvantage is there is a startup cost in starting a Limited Liability Company (LLC) and there is also fee to prepare the documents, and there is a continuous accounting cost and legal fee. In some stated charge the company a fee to keep your Limited Liability Company active. (Auric, 2016).
A 501 (c) (3) is a nonprofit organization that operates under a different set of rules then the other business entity. 501 (c) (3) purpose is to help the community but also make a profit at the same time. The nonprofits are also protected if they are sued or have outstanding debits it does not affect their personal assets. They have fundraising abilities, they don’t have to file income tax, they must file with the state, and they must have at least three directors.
For my venture I chose a Limited Liability Company (LLC) for BJ’s Humble Delight, because I didn’t want to be personally liable for the companies debits or liabilities. And this type of entity can get a tax identification number, open a bank account and conduct business under its own name. In starting the LLC, I paid a lot of fee through LegalZoom but they did all the paperwork for me and filed for my license, I also have an CPA that helps me at the end of the year and if anything, happen to me the business will not exist anymore.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
|
|
GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
Also, you can place the order at www.collegepaper.us/orders/ordernow / www.phdwriters.us/orders/ordernow
|
Do You Have Any Other Essay/Assignment/Class Project/Homework Related to this? Click Here Now [CLICK ME]and Have It Done by Our PhD Qualified Writers!! |
|
|
PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!!