One of the requirements of being in the Honors Leadership Program (HLP) is that first-year students live in the HLP Living Learning Community (LLC). When I found this out‚ I was excited as I would be able to live and develop relationships with students who were driven and striving to reach the same goal. I also did not have worry about what dorm I would live in‚ and I was quite happy to have that stress taken away. Now‚ all I had to do was find a roommate. Fast forward three months and move in day
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Sunset Rooftop Bar & Grill LLC is a rooftop restaurant and bar with live music and rooms available to rent for small parties. I will start small with one location and expand to other areas as the restaurant gains a strong following and success. To begin with‚ I will supervise the work being done from renovations to daily operations until I find a trustworthy and suitable candidate to take over as manager. The restaurant will be located in downtown Rahway. I chose this location because the downtown
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different type of business entity. “Tinker’s Home Security Service (sole proprietorship) Tinker & Tailor’s Home Security Service (general partnership) Tinker & Tailor’s Home Security Service (limited partnership) Tinker & Tailor’s Home Security Service‚ LLC (limited liability company) Tinker & Tailor’s Home Security Service‚ Inc. (corporation)” Table #1 Business Entities and Liabilities Sole Proprietorship “The sole proprietor’s assets‚ personal and business-related‚ are subject to a lawsuit (Seaquist
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demand may exceed the time it takes to produce the iJuice from the increased shipping times from suppliers. 3. Research and development costs to begin producing and manufacturing iJuice in-house. To overcome the production and manufacturing weakness AMC LLC will be required to begin research and development of producing and manufacturing the component the iJuice in-house. Research and development expenses are projected to increase operating expenses by 10% for the next five years. There will also be
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LIT1 – Task 1 Part A SOLE PROPRIETORSHIP: A “for profit business” owned and operated by an individual. Owning a sole proprietorship allows an individual to run a business any way they see fit with few state/federal regulations and limited legal formalities. The owner of a sole proprietorship assumes considerable risks by without liability protection and therefore is held personally liable for any judgments against the company and is susceptible to loss of business assets‚ personal property and
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To: Penelope‚ Mark‚ and John From: Redacted. Date: 4/12/14 Subject: Entity Selection Facts: After 20+ years of working for other firms‚ Penelope (enrolled agent‚ age 41)‚ Mark (CPA‚ age 43)‚ and John (CVA‚ age 65) want to leave the firms they are currently employed by and become their own bosses. Penelope specializes in taxes‚ Mark is the auditor‚ and John is a business valuation expert. There are so many options available as to how they can structure the new business. The appropriate
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If Maria does adopt a business form‚ what business form is the best for her company? Please explain. Group Sh recommends Maria to adopt a limited liability corporation (LLC) for the following reasons: –Limited liability: The key consideration for setting up a LLC is to protect herself and the other members‚ and to limit their liabilities to the amount invested in the business. Without limited liability‚ the members don’t only lose their investments but are also liable
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Product Plan Product Plan Joe Veltri Joe Veltri Chrysler Group LLC 2010‐14 Business Plan Chrysler Group LLC 2010 14 Business Plan November 4‚ 2009 Product plan development process Identify consumer & market trends Commercial Industrial I d ti l Controlling Marketing Determine opportunities with our brands Determine optimal use of available platforms • Utilize existing platforms • Common parts/technologies • Speed to market Speed to market Ensure containment
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which in the end hampers the business able to exploit new opportunities (Ross‚ Westerfield‚ & Jordan‚ 2013‚ p. 14). A limited liability corporation (LLC) operates and is taxed like a partnership but retain the limited liability for owners‚ basically making it a hybrid of a partnership and corporation. The Internal Revenue Service maintains oversight of LLC operations and if a business does not meet certain criteria it will be faced with double taxation
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Issue : Did LLC failed to pay the market value of OLSON`s interest? .Rule: A member`s ownership interest in an LLC is not freely transferable.A transferee of a member distributional interest receives only the member`s share of LLC distributions. .Application: according to the written agreement LLC payed the capital account and 2005 compensation to Olson.Olson may argue that due to the oral agreement LLC breached it`s duty to pay fair market value of a member.on the other hand LLC may argue that
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