https://padlet.com/02kfataki/4m5y06a4zm31 Made with an open mind en-us 2018-10-01 17:18:19 UTC 2018-10-05 16:16:30 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Condos.png 02kfataki https://padlet.com/02kfataki/4m5y06a4zm31/wish/287756161 A business that legally has no separate existence from its owner, Income and losses are taxed on the individual's personal income tax return.
Advantages:

1. it is a very common and simple buissness entity. 
2. it can have multiple people operating the business Disadvantages: 
3. though it may not be a good choice because the biggest of which being that the owner is personally liable for all business losses and liabilities

   

]]> 2018-10-01 17:22:40 UTC https://padlet.com/02kfataki/4m5y06a4zm31/wish/287756161 02kfataki https://padlet.com/02kfataki/4m5y06a4zm31/wish/287764199 a specific kind of legal relationship formed by the agreement between two or more individuals to carry on a business as co-owners.
Advantages:

1. partnerships do not have to pay income tax, each partner files the profits or losses of the business on his or her own personal income tax return. 
2. also it can have more hands to help and generate more ideas for the company, Disadvantages: 
3. include  liability of the partners for the debts of the business is unlimited
4. each partner is 'jointly and severally' liable for thepartnership's debts; that is, each partner is liable for their share of the partnership debts

]]> 2018-10-01 17:34:27 UTC https://padlet.com/02kfataki/4m5y06a4zm31/wish/287764199 02kfataki https://padlet.com/02kfataki/4m5y06a4zm31/wish/287764610 A form of business operation that declares the business as a separate, legal entity guided by a group of officers known as the board of directors. Advantages: 

1. Limited liability, The shareholders of a corporation are only liable up to the amount of their investments
2.  legal entity, organized under state laws

Disadvantages: 

1. Double taxation. Depending on the type of corporation, it may pay taxes on its income
2. Excessive tax filings

]]> 2018-10-01 17:35:04 UTC https://padlet.com/02kfataki/4m5y06a4zm31/wish/287764610 02kfataki https://padlet.com/02kfataki/4m5y06a4zm31/wish/287764818 a corporate structure whereby the members of the company are not personally liable for the company's debts or liabilities
Advantages

1.  retains important tax benefits of the sole proprietorship
2. protects the owners from the debts of and any judgments against the business-it's the preferred form of business organization

Disadvantages

1. LLC is a little more expensive to operate
2. Checks made out to a limited liability company cannot be cashed

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