organizations. Limited Liability Corporation (LLC) A Limited Liability Corporation (LLC) is a company combining the benefits of a partnership and a corporation. A LLC acts as its own entity with the limited liability‚ but also has the tax savings as if it were a sole proprietorship (“The Advantages of an LLC Company”‚ 2013). Advantages of an LLC are limited liability‚ require less paperwork‚ and have the ability to profit share. Disadvantages of an LLC are limited life and members are subject to self-employment
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LIT1 Task 310.1.2-01-06 Part A Sole Proprietorship: A sole proprietorship is owned by only one person. All profits and losses are the responsibility of the owner only. Liability – There is unlimited liability in a sole proprietorship. The owner is solely responsible for any debts that may occur. Income Taxes – The business files taxes as one single unit. Because profits are not shared‚ they are considered personal income to the sole proprietor. Longevity/Continuity – In a sole proprietorship
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LIT1 – Task 310.1.2-01-06 Part A SOLE PROPRIETORSHIP: A sole proprietorship is the easiest of all the business types to start and take the least amount of start-up capital. This is also the most common form of doing business in the United States. With a sole proprietorship‚ the business and the owner are one in the same and it is not possible to bring someone into the business. Liability: The owner is responsible for the debt of the business. There is no differential made from the business
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brachytherapy‚ or interstitual or intracavitary radiation) In this procedure the radiation oncologist places radioactive material (usually radium‚ cesium‚ or iridium)‚ into or onto the inflicted area. The purpose is to place the radioactive material as close to the tumor as possible. This can be done in two ways: (i) The radioactive materials are put in a sealed container‚ such as a tube or
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Introduction When starting and owning a business‚ you need to understand the importance of how you will choose to organize your business from different types of business structures such as sole proprietorship‚ partnership and corporation. This week you will see a brief explanation of each as well as advantages and disadvantage of each of the business structures. Personal Business Structure Sole proprietorships are the simplest of all legal structures but they also lack many of the legal and financial
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Warf Computers Financial Performance Analysis Prepared by Angus Jones & Partners‚ LLC Agenda Company overview Company direction & new product info Company financials Balance Sheet Income Statement Cash Flow Analysis Ratio Analysis Expansion plan analysis Overall recommendations Angus Jones & Partners‚ LLC Company Summary Founded 15 years ago Small initial investment to start company The same group of investors has supplied the limited additional funds needed by the company in the
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or judge by a judgment creditor) limits the creditor of a debtor-partner or a debtor-member to the debtor’s share of distributions‚ without conferring on the creditor and voting or management rights. A limited liability company‚ also called an LLC‚ is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a
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Madeline Bahr LA 349 9/23/2014 Fair Housing Council of San Fernando Valley‚ The Fair Housing Council of San Diego‚ individually and on behalf of the General Public v Roommates.com‚ LLC I. Facts The defendant Roommate.com‚ LLC operates as a website designed to match people renting out spare rooms with people looking for a place to live. The website allows member to get notifications‚ messaging‚ and create a personal profile. Fair Housing Council of San Fernando Valley and of San Diego filled
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logistics concept of Volkswagen Group of America Chattanooga Operations‚ LLC Volkswagen Group of America Chattanooga Operations‚ LLC 605 Chestnut Street Chattanooga‚ TN 37450 U.S.A. Version 1.0 Version: December 2009 Contents Contents Detailed contents Document history Preface A B C D E Volkswagen production system (VPS) Contact information EDI and supplier portal Severability clause Glossary VWGoA Chattanooga Operations‚ LLC – All rights reserved Version 1.0 Page I Detailed contents
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LIT 1 Task 1 Sole Proprietorship A sole proprietorship is the most common type of business in the United States. It is formed when a person starts a business‚ but does not register it as a corporation‚ or a limited liability company. Most contractors‚ consultants‚ and home businesses operate under this form of business. Sole proprietorships are easy to form‚ and provide the owner with total control over the business. All of the profits belong to the owner‚ because the business and the owner
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