are used to operating as a Sole Proprietorship the additional ongoing regulatory and compliance requirements of running a corporation can seem immense. I recommend that you reorganize the business as a Limited Liability Company. Organizing as an LLC will address your liability concerns by separating your personal liability from the liability of the business. If the
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operated as a sole proprietorship‚ but not the trucking company. Because of the nature of the trucking business‚ limiting the liability of the principals is vital: thus‚ the best form of organization for the trucking company would most likely be an LLC (limited liability company). There are six main forms of business organization‚ and each has very distinct advantages and disadvantages: some work best for small enterprises‚ some are better when outside vendors are involved‚ some are more suitable
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UVA-C-2297 July 28‚ 2009 DOG CONCIERGES‚ LLC: TRANSACTION ANALYSIS AND STATEMENT OF CASH FLOWS PREPARATION Part I Although he owned his own business‚ Jeff Birch was a financial novice. His passion was dogs‚ and he had finally made the move to start a specialty dog services business in an upscale section of a large mid-Atlantic city. In its first two years‚ Dog Concierges‚ LLC‚ had grown to about $650‚000 in sales. Historically‚ he had left all financial concerns in the hands of his sister
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Learning Activity 1 Question 1: As a sole proprietor‚ there is no difference between Owen and Owen’s Pets Store. As such‚ all income from the business is considered personal income by Owen and will be taxed accordingly (The legal and ethical environment of business‚ 2014‚ pg. 350). Learning Activity 1 Question 2: Dissociation occurs when a party ceases to be associated with the business‚ giving up authority to act and participate in the activities of the business (Clarkson‚ K.‚ Miller‚ R.‚ & Cross
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Percent Change‚ as a decimal = (New - Old)/Old N = (1 + G)O; N = New Value‚ 0 = Old Value‚ G = Growth Rate as decimal www.platinumgmat.com | Free GMAT Prep GMAT Practice Questions | GMAT Study Guide | MBA Admissions Copyright © 2009 PlatinumPrep‚ LLC. www.platinumgmat.com | Free GMAT Prep GMAT Practice Questions | GMAT Study Guide | MBA Admissions Number Properties (Odd)(Even) = Even (Odd)(Odd) = Odd (Even)(Even) = Even (Odd) ± (Even) = Odd (Odd) ± (Odd) = Even (Even) ± (Even) = Even
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Chapter 12 Torts The Basis of Tort 1. The Purpose of Tort Law a. Damages Available in Tort Actions Compensatory damages (including special damages and general damages) : compensate or reimburse the plaintiff for actual losses Special damages: compensate the plaintiff for quantifiable monetary losses. General damages: compensate individuals (not companies) for the nonmonetary aspects of the harm suffered‚ such as pain and suffering. b. Punitive Damages: Only when the defendant’s conduct was particularly
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CQ Cultural Intelligence Feedback Report Prepared For Mukiibi‚ Shira Bayigga September 2012 Prepared by Cultural Intelligence Center‚ LLC www.culturalq.com info@culturalq.com © 2005-2012 Cultural Intelligence Center‚ LLC Cultural Intelligence Cultural Intelligence (CQ) is a person’s capability to function effectively in situations characterized by cultural diversity. PURPOSE OF THE REPORT The purpose of this CQ Feedback Report is to increase your awareness and understanding
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Organizational Forms A. Explain how at least six of the seven key characteristics listed in the introduction to this task apply to each of the following organizational forms: The goal of this report is to provide the owner of the business with a clear guide to each organizational form as well as how each characteristic applies to each form. A1a. Sole proprietorship A sole proprietorship is a business form in which one person is the owner of the business. Within this form the owner has no
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The advantages to a LLC are: 1) Reduction of personal liability. A sole proprietor has unlimited liability‚ which can include the potential loss of all personal assets. 2) Taxes. Forming an LLC may mean that more expenses can be considered business expenses and be deducted from the company’s income. 3) Improved credibility. The business may have increased credibility in the business world compared to a sole proprietorship. 4) Ability to attract investment. Corporations‚ even LLCs‚ can raise capital
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Supplier Agreement The Retailer Agreement is made effective October 10‚ 2016 between Vineyard Vine of 135 Water Way Stamford‚ Connecticut 11120 (“Seller”) and Maritime Clothiers‚ LLC 277 Marina’s Edge Drive Virginia Beach‚ Virginia 23456 (“Retailer”). Items Purchased: Seller agrees to offer to retailer for sale the following products (“Products”) in accordance with the terms and conditions of the non-exclusive agreement: Description: Unit Price: Quantity: Men’s Long Sleeve t-shirts $20
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