Business Owernership by Brianna Amick https://padlet.com/05bamick/qngbtavqhx0ndke By: Bri Amick en-us 2021-05-18 02:05:04 UTC 2021-05-18 02:45:53 UTC hello@padlet.com https://padlet.net/icons/png/1f600.png define sole proprietorship 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533826798 an unincorporated business that has just one owner who pays personal income tax on profits earned from the business.]]> 2021-05-18 02:12:52 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533826798 define partnership 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533830205 the state of being a partner or partners.]]> 2021-05-18 02:14:18 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533830205 define corporation 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533832795 a company or group of people authorized to act as a single entity and recognized as such in law.]]> 2021-05-18 02:15:21 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533832795 define Limited Liability Company 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533836928 A limited liability company is a business structure in the United States whereby the owners are not personally liable for the company's debts or liabilities.]]> 2021-05-18 02:17:07 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533836928 define franchise 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533840156 an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities.]]> 2021-05-18 02:18:23 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533840156 positive 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533843542 1) Easy setup
2) Management flexibility ]]> 2021-05-18 02:19:49 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533843542 negative 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533848127 1) Unlimited personal liability of the sole proprietor
2) Uncertain business life]]> 2021-05-18 02:21:42 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533848127 positive 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533856002 1) 2 heads are better than one
2) your business is easy to establish and start-up costs are low.]]> 2021-05-18 02:24:40 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533856002 negative 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533856494 1)Liabilities
2)Loss of Autonomy]]> 2021-05-18 02:24:52 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533856494 positive 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533857930 1)personal liability protection
2)business security and continuity]]> 2021-05-18 02:25:26 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533857930 negative 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533858516 1)Double taxation
2)Excessive tax filings]]> 2021-05-18 02:25:40 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533858516 positive 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533859122 1)Members have flexibility in structuring the company management.
2)Does not require as much annual paperwork or have as many formalities as corporations.]]> 2021-05-18 02:25:56 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533859122 negative 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533859622 1)Profits subject to social security and medicare taxes
2)Owners must immediately recognize profits]]> 2021-05-18 02:26:09 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533859622 positive 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533861350 1)Low failure rate.
2)Business assistance.]]> 2021-05-18 02:26:50 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533861350 negative 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533861660 1)Initial Payout
2)Royalty Payments]]> 2021-05-18 02:26:58 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533861660 examples 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533865049 1)a local grocery store
2)a local clothes store]]> 2021-05-18 02:28:24 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533865049 example 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533865918 1) gopro and redbull
2)apple and mastercard]]> 2021-05-18 02:28:46 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533865918 example 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533867567 1) apple
2) Walmart]]> 2021-05-18 02:29:27 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533867567 example 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533868023 1)Anheuser-Busch
2)Blockbuster]]> 2021-05-18 02:29:39 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533868023 example 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533868624 1)McDonalds
2)subway]]> 2021-05-18 02:29:53 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533868624 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533906833 2021-05-18 02:45:14 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533906833 05bamick https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533908424 2021-05-18 02:45:53 UTC https://padlet.com/05bamick/qngbtavqhx0ndke/wish/1533908424