FREE Trial

Write a 3 page paper discussing formation of and the advantages and disadvantages of doing business in the following forms: sole proprietorship; partnership; corporation (C Corp and S Corp); and limited liability company. Specifically discuss the tax and liability issues

Write a 3 page paper discussing formation of and the advantages and disadvantages of doing business in the following forms: sole proprietorship; partnership; corporation (C Corp and S Corp); and limited liability company. Specifically discuss the tax and liability issues of each. Also, indicate the form of business you would choose should you someday start your own business, including the reasons for your decision and the Christian approach to business and business relationships.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!
  • Tutor Answer

The Legal Forms of Doing Businesses and the Security Law The legal forms of business units Part I Sole Proprietorship It is a form of unincorporated form of business which is created owned and run by …View the full answer


answer-question
Related Book For  answer-question
Core Concepts of Accounting

Core Concepts of Accounting

ISBN: 978-0470499474

2nd edition

Authors: Cecily A. Raiborn

See More Books
Posted Date: March 27, 2018 05:36:28
See More Questions

Students also viewed these Managerial Accounting questions

Q:
Investing in another country -The assignment is to write a two (2)-page paper discussing importing, exporting, global sourcing and logistics. In writing this paper, consider what products or services...
A:
Trade between India and United States Introduction The trade relation between India and United States are quite strong The bilateral trade between two countries have increased considerably in last one......
Q:
Submit a two page paper discussing the issues surrounding prostitutes with drug addiction and how it affects them and their children. Discuss the custodial issues that they face once they are sent to...
A:
Prostitutes and Drug Addiction Introduction Prostitution is the act of providing sexual services in exchange for money and other material goods The practice of prostitution with drug addiction affects......
Q:
Write a paper, discussing how you, the case manager, would work with this population. Discuss how societal situations contribute to the vulnerability of this population as well as what services,...
A:
Mental Health Condition Introduction Positive mental health condition is associated to various development outcomes including higher educational attainment improved productivity and better health stat......
Q:
1. What options does Personal Trainer have for developing a new system? What are some specific issues and options that Susan should consider in making a decision? 2. Susan has been asked to prepare a...
A:
1 During the conversation between Susan and Gray Lewis which appears on pages 41 and 42 Susan received a number of wish list comments from local managers and staff members but there was no specific me......
Q:
Consider a cylindrical test specimen under a confining pressure of 20.69 MPa and an axial stress of 20.69 MPa with compression positive, so that in cylindrical coordinates zz = 20.69 rr = 20.69 =...
A:
Hookes law......
Q:
Calculate I0 in the circuit of Fig. 2.119?
A:
We convert the T to D R ac 140010 140 R bc......
Q:
Crest Outfitters is a relatively young company, started in 2010 out of the garage of Peter Crest. Peter is a photographer and travels for 10 months of the year around the world capturing images for...
A:
Click to View...
Q:
1. Banks are required by law to keep a fraction of their deposits as ______. 2. When reserves do not pay interest, banks prefer to keep reserves rather than make loans. ______ (True/False) 3. If the...
A:
1 Reserves 2 False 3 80 4 50 5 Bad loans reduced the assets of lending banks The......
Q:
A young woman of 20 (Let's call her Fay) decides to put $100 per month into a stock index fund. This investment appreciates at a regular 8% per year, by no means an unreasonable estimate. At the age...
A:
Click to View...
Q:
1. What is the cost of debt for Sunrise Bakery? 2. What is their cost of equity? 3. What is the WACC? 4. Which cost of capital should be used to evaluate the feasibility of the oven purchase? 5....
A:
1 The cost of debt for sunrise bakeryinterest rate of debt Therefore the cost of debt for sunrise bakery is 45 2 The cost of equity is 55 3 The weighted average cost of capital WACC is a calculation o......
Q:
The Mortgage Market Is Changing Fast Trump's Vow to Target China's Currency Could Be First Step to Trade War The Trump Trade Is Getting Out of Hand Does Donald Trump Spell an End to Fed's Low-Rate...
A:
1 AnnamariaAndriotis The Mortgage Market Is Changing Fast Summary The mortgage market of the nation is likely to be overturned as the politics of US is changed There exist two reasons as to why these......
Q:
1. Below are data from selected inmates classified into one of three security levels at one correctional facility, relative to their depression scores on a standard measurement instrument. 2. Using...
A:
1 Below are data from selected inmates classified into one of three security levels at one correctio......
Q:
The entrepreneurial spirit has become increasingly welcome in corporations of all sizes. What do you think you could do to develop your entrepreneurial spirit?
A:
Engaging in entrepreneurial or at least independent business activities such as m......
Q:
According to the Stare Decisis law and the Roe v. Wade: What options do women or the majority of citizens have who are in favor of maintaining the right to privacy of women to decide for herself and...
A:
Stare decisis is a legal theory that suggests that courts should typically stick to their earlier judgments particularly when it comes to questions of......
Q:
LesMart pty ltd has an intern accountant who needs your help in recognizing some of the transactions which they still feel a bit confused on their treatment. When assisting, you have to show him on...
A:
1 Change in Depreciation Method To change the depreciation method from straight line to diminishing balance the following steps should be taken a Calculate the accumulated depreciation under the strai......
Q:
Let A be a matrix of the following form: = a11 a21 a12 anl a22 a32 a23 a33 a34 an-1,n-2 an-1,n-1 an, n-1 Write down an algorithm with complexity O(n) to solve the linear system b for b = (b,..., b)...
A:
Click to View...
Q:
A manufacturing company, ABC Manufacturing, is in the process of selecting a new supplier for a critical component used in their production process. The company has identified several potential...
A:
Prioritizing and weighting the criteria in the supplier selection process is a crucial step for ABC......
Q:
How to do income tax payable/tax refund? solution should be in format d. Income tax payable / tax refund in respect of Encik Mikhael and Puan Nur Azra for the year of assessment 2022. She acquired an...
A:
Tax Computation for Encik Mikhael Calculate Total Income Rental Income RM15000 MaySeptember RM9000 NovemberJanuary RM24000 Interest Income RM1350 Total Income RM24000 RM1350 RM25350 Deduct Allowable E......
Q:
What is the purpose of allowing a credit against the FUTA for state unemployment taxes?
A:
Under the experience rating system the state tax r......
Q:
From the choice of simple moving average, exponential smoothing, and linear regression analysis, which forecasting technique would you consider the most accurate? Why? please write it in word...
A:
Taking about simple moving average exponential smoothing and linear regression analysis Moving Avera......
Q:
You need to write "Employment as a User Interface Developer" "career exploration" Iteration-3 includes the following steps: 1. PLAN: - Plan must be like you should state the Career exploration...
A:
Iteration 3 Career Exploration Planning Under this stage of planning my career exploration focused on four main activities and these include research of career types this activity entailed searching f......
Q:
You have become the president of the International Business Club at your school. You are trying to recruit new members and find that many students do not recognize the importance of international...
A:
Your presentation should include Who Participates In International Business Focal firm firms that initiate and implement international business activi......
Q:
What are the streams of accounting career opportunities available for accounting professionals? What tasks do financial accountants do? What tasks do management accountants do?
A:
Careers in accounting can be grouped into four categoriesfinancial accounting management accou......
Q:
An employee earns $24 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 43 hours during the week. Assume that the FICA tax rate is 7.5%...
A:
a Regular pay 40 hrs 24 96000 Overti......
Q:
What is meant by managing paradox and contradiction?
A:
When a venture experiences surges in growth a number of structural......
Q:
2.65 A cable loop of length 1.5 m is placed around a crate. Knowing that the mass of the crate is 300 kg, determine the tension in the cable for each of the arrangements shown. E E 300 mm 400 mm C...
A:
Click to View...
Q:
In December 2022, Soraya Corporation sold land it held as an investment. The corporation received $50,000 in 2022 and a note payable (with adequate interest) for $150,000 to be paid in 2024. Sorayas...
A:
Soraya Corporation should elect to forgo the use......
Q:
An air-conditioning system involves the mixing of cold air and warm outdoor air before the mixture is routed to the conditioned room in steady operation. Cold air enters the mixing chamber at 5°C...
A:
Two streams of cold and warm air are mixed in a chamber If the ratio of hot to cold air is 16 the mi......
Q:
Jordan Lea has accumulated A substantial portfolio of investments in bonds and shares of public corporations. She selects shears that provide no dividends and maximum long-term growth. But she's...
A:
To determine whether Jordan should dispose of her Cory shares and use the proceeds to acquire J2 shares we need to calculate the potential benefits an......
Q:
At time t = 0 a particle at a potential V (x) = mwX?/2 is in the state described by the wave function v (r,0) = AE) vn(a), n=0 Where n (x) are the normalized eigenstates with their respective...
A:
Click to View...
Q:
List five guidelines for selecting an external marketing research supplier.
A:
The guidelines for selecting an external marketing research supplier a......
Q:
Discuss three ethical issues in marketing research that relate to (I) the client, (2) the supplier, and (3) the respondent.
A:
Some of the ethical issues in marketing research that pertain to the client include protecting the p......
Q:
How would you go about deciding if COPPA has been effective?
A:
You may come up with a pre and post approach in which conformance was measured......
Q:
Circle the correct word of each pair. a. If a cell [absorbs, loses] water, it will become turgid. b. If a cell [absorbs, loses] water, it will become plasmolyzed. c. If a cell [absorbs, loses] water...
A:
a If a cell absorbs water it will become turgid Turgid refers to a state of a plant cell where it......
Q:
Which could result in the initiation of an action potential? a. Depolarizing the membrane. b. Decreasing the extracellular potassium concentration. c. Increasing the activity of the sodiumpotassium...
A:
The initiation of an action potential can result from a......
Q:
What is the purpose of each layer(three layers of basic bandage)?
A:
A basic bandage typically consists of three layers each serving a specific purpose to promote wound......
Q:
The differences in nutritional resources used by plants versus animals is also great. Plants obtain nutrients in the form of __________________ or as simple ______________ present in the environment....
A:
The differences in nutritional resources used by plants versus ani......
Q:
In each of the following pairs, circle the one that would probably have the more negative water potential: cell of a wilted leafcell of a turgid leaf; guard cells of an opening stomaregular epidermal...
A:
Water potential is a measure of the potential energy of water in a particular environment and it is influenced by various factors including solute pot......
Q:
In Figure 10C-73, why is SUM used instead of AVG?
A:
The average builtin function cannot......
Q:
How does the organizational structure of an MNC influence its strategy implementation?
A:
The organizational structure of a MNC is determined to a considerable extent on th......
Q:
In Canada, transactions among banks and other financial institutions takes place through the Large Value Transfer System (LVTS) operated by the Bank of Canada. During 2015, 8.1 million payments were...
A:
The dollar value of a transaction need not all be a contribution to GDP Indeed typically only a f......
Q:
Discuss the concept of differential advantage as it relates to channel design strategy.
A:
Differential advantage......
Q:
Discuss the concept of emotional intelligence as it relates to the duties of project managers. Why are the five elements of emotional intelligence critical to successful project management?
A:
Emotional intelligence is important to relationship building and maintenance The five elements o......
Q:
In Exercises 1318, find the average rate of change of the function from x 1 to x 2 . f(x) = 3x from x 0 to x = 5
A:
150 50 15......
Q:
How would you evaluate the argument between Brandon and Gabriella? Are either or both of them being exploited? If so, how? MINI CASE Brandon and Gabriella Houston were both home from college for...
A:
Brandon and Gabriella are both exploited but in diff......
Q:
Refusal rate in telephone polls is known to be approximately 20%. A newspaper report indicates that 50 people were interviewed before the first refusal. (a) Comment, on the validity of the report....
A:
a The number of people interviewed b......
Q:
Michael Rutherford suggests the following audit procedure should be included in the audit program to gather evidence on the cut-off assertion for the revenue account: Select a sample of sales from...
A:
Click to View...
Q:
It is October 16, 2020, and you have just taken over the accounting work of China Moon Products, whose annual accounting period ends October 31. The company?s previous accountant journalized its...
A:
Parts 1 2 3 SALES JOURNAL Page 3 Date Account Debited Invoice Number PR AR Dr Sales Cr Cost of Goods Sold Dr Merchandise Inventory Cr 2020 Oct 6 Marge Craig 913 6600 3600 12 Heather Flatt 914 7300 400......
Q:
Use Little's formula to answer the following two questions. < Little's formula: WIP = Flow rate x Flow time. < a) Assume the pediatrician's office is open 8:00 a.m. to noon. Arrivals and departures...
A:
Click to View...
Q:
Garage Hardware Ltd. provides a product warranty for defects on a major line (Line B) of items sold since the beginning of 20X5. Line B carries a three-year warranty for parts and service. The...
A:
Click to View...
Q:
Management can be defined as a process of bringing about improvement in knowledge, skills, habits and attitudes of employees in an organisation. Discuss
A:
I would say that this statement pretty well covers what management is supposed to do but with one......
Q:
1. One of the AICPA's Ethical Principles deals with the public interest. It states that members should accept the obligation to act in a way that will: (List out) (1) Honor the public trust (2) Serve...
A:
1 1 Honor the public trust 2 C in public practice should......
Q:
The risk of material misstatement for the assertion of accuracy, valuation and allocation for accounts receivable has been assessed as high. A colleague has suggested that the audit team should...
A:
While confirming that merchandise was shipped is a relevant test for the existence assertion of acco......
Q:
After pollination and then fertilization, what usually happens to each of the following: stigma, style, carpel, ovule, integuments, and zygote?
A:
After pollination and fertilization in a flowering plant several changes occur in the reproductive structures Lets go through each of the mentioned pa......
Q:
In ordinary English, we use the word fruit to mean something sweet and juicy; however, the following things are fruits: peanut shells, pea pods, bell peppers, and chili peppers. What is the...
A:
In botanical terms a fruit is the mature ovary of a flowering plant typically containing seeds This......
Q:
In several pairs of plant and animal species, plants have become modified such that only its animal partner can pollinate it, and the animals have become modified such that they are especially well...
A:
The type of evolution youre describing where two species have evolved in a way that makes th......
Q:
Describe a species that is dioecious. Name several examples (See Figure 9-6). In order for sexual reproduction to occur in a dioecious species, how many separate plants must be involved? Name them...
A:
A dioecious species is a type of organism in which individual plants are either exclusively male or exclusively female meaning they have separate male......
Q:
What is the difference between self-pollination and cross-pollination? If pollen is transferred from the stamens of a flower to the stigma of the very same flower, is that cross-pollination or...
A:
Selfpollination and crosspollination are two different mechanisms of transferring pollen in plants which play a crucial role in their reproductive pro......
Q:
Calculate the conversion costs from the following information: Fixed manufacturing overhead $2,000 Variable manufacturing overhead 1,000 Direct materials 2,500 Direct labor 1,500
A:
To calculate the conversion costs we need to consider the direct labor and the manufacturing......
Q:
Suppose that A is an m n matrix with linearly independent columns and the linear system LS(A, b) is consistent. Show that this system has a unique solution.
A:
Let A A 1 A 2 A 3 A n LSA b is consistent so we know the system has at least one soluti......
Income Taxation Of Fiduciaries And Beneficiaries 1st Edition - ISBN: 0808050087 - Free Book