https://padlet.com/01hhanngon/bd3z1hyn9y3z Hathaikan Hanngon en-us 2018-02-20 14:04:53 UTC 2026-02-14 19:31:18 UTC hello@padlet.com 01hhanngon https://padlet.com/01hhanngon/bd3z1hyn9y3z/wish/233262524 This is a business where one person is the owner. 

Examples: Housecleaning service, Mom & Pop Ice cream shop

Positive: 
1.)It is the most affordable because it is not necessary for legal documents to be filed. 
2.) If there is business-loss the owner will have a deduction on off-set personal income. 

Negative:
1.) If someone sues the company, they sue the owner.
2.) The owner's personal assets can be taken in order to pay for the company obligations. ]]> 2018-02-20 14:07:57 UTC https://padlet.com/01hhanngon/bd3z1hyn9y3z/wish/233262524 01hhanngon https://padlet.com/01hhanngon/bd3z1hyn9y3z/wish/233262821 A partnership consists of 2 or more owners and has a partnership agreement, which is an arrangement made between the business owners.

 Examples: McDonald's, Microsoft

Positive: 
1.)Tax returns with the IRS are possible because the income tax is not paid on its own.
2.)It is more affordable than a corporation or limited liability.
 
Negative:
1.) Personal liability can be increased because one partner can be held liable for another partner.
2.)  If someone sues the company they are suing each owner.

]]> 2018-02-20 14:08:25 UTC https://padlet.com/01hhanngon/bd3z1hyn9y3z/wish/233262821 01hhanngon https://padlet.com/01hhanngon/bd3z1hyn9y3z/wish/233262950 It is technically one person "on paper", but is created through permission from the state. It is also filed with the state (articles of incorporation). 

 Examples: Bank of America, FedEx

Positive: 
1.)Protects the owners from liability and their assets can't be taken to pay for the company obligations. 
2.)Owners are allowed to get medical insurance. 

Negative:
1.) Operates on behalf of the shareholder. It is under the shareholder's complete control. 
2.)S corporations can offset the owners' personal income. ]]> 2018-02-20 14:08:37 UTC https://padlet.com/01hhanngon/bd3z1hyn9y3z/wish/233262950 01hhanngon https://padlet.com/01hhanngon/bd3z1hyn9y3z/wish/233263133  This is the newest form of all four business types and combines the most favorable things from a corporation and a partnership.

Examples: Real Estate Investment, Motion Picture

Positive: 
1.)Includes the pass-through entity in a partnership. 
2.)Offers limited liability from a corporation. 
 
Negative:
1.) The profits don't have to be distributed according to relative ownership interest. 
2.)  Doesn't have the 100 shareholder limitation. ]]> 2018-02-20 14:08:51 UTC https://padlet.com/01hhanngon/bd3z1hyn9y3z/wish/233263133