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This often leaves little time to deal with the legal issues that constantly plague small businesses. Having the law firm Chuff and Kosierowski on your side can make a huge difference in the day-to-day operations of your business, helping you deal with a wide range of issues related to taxes, finance, business formations, acquisitions, mergers, contract negotiations, and litigation. There are many different ways that you can structure your business. Major types of business structures in the United States include:.

A sole-proprietorship is online casino tropez promoredirect business that is online casino tropez promoredirect by a single individual or by a husband and wife that is not a corporation or a limited liability company.

There are no legal requirements to comply with in order to create and maintain the business structure. The biggest disadvantage is that you, the business owner, are held personally liable for the debts of the business. This learn more here that if someone sues your business and obtains online casino tropez promoredirect judgment against it, you will be responsible for paying it even if it exceeds the entire worth of your business.

You should evaluate the potential risk of this kind of liability for your type of business to determine whether you should operate as a corporation or limited liability company instead.

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A partnership is a business that is owned by more than one individual not a husband and wife that is not a corporation or limited liability company.

Nothing is required to establish the business as a partnership, it happens automatically online casino tropez promoredirect two or more people own a business that is not a corporation or a limited liability company. However, it http://borlon.info/online-usa-casinos-accepting-echeck.php a good idea to have a written partnership agreement which spells out the commitments of the parties, including how much and what they will contribute to the business, how they will http://borlon.info/best-us-online-real-money-slots.php profits and share losses, and who will have authority and responsibility for making various decisions among other things.

If the owners of the business online casino tropez promoredirect not make a written partnership agreement, state partnership law determines the obligations of the owners.

A corporation can be owned by one or more individuals. Generally, establishing a corporation involves drafting Source of Incorporation and Bylaws and issuing stock.

The Articles of Incorporation are filed with the State and a Certificate of Incorporation is issued to the business. The main advantage of operating a business as a corporation is that the liability of the owners for the debts of the corporation is limited to their investment in the business. The biggest disadvantage is that the business must adhere to the corporate structure by conducting shareholders and directors meetings, which can be cumbersome for a small business. The basic structure of an LLC is that it combines the management aspects of a partnership with the liability advantage of a corporation.

This makes it a very desirable structure for a business. However, like a corporation, there are legal requirements that must be met in order to preserve the status of the business as an LLC. Special care is also required in establishing the LLC to make sure the desired tax status is obtained.

The advantage of an LLC is the management flexibility it allows, and the potential tax benefits. LLCs allow a business to have the limited personal liability of a corporation as provided by state law, while being treated as a partnership for purposes of Federal tax laws. That is the trade off you make to get the Partnership tax status and greater management flexibility. Limited Liability Companies generally restrict the transfer of ownership interests in the business online casino tropez promoredirect make sure the business is classified as a Partnership under federal tax law.

An LLC usually has a limited existence in that it will end after a specified number of years or upon the occurrence of some specified event. This requirement is intended to help the business qualify as a Partnership link purposes of tax law.

Being taxed as a Partnership makes the LLC structure particularly attractive because it gives the owners a great deal of flexibility in allocating profit and loss. We've all heard of the problem, we've all seen online casino tropez promoredirect ads, but few have recognized how the theft of the identity of an owner or online casino 400 bonus manager can wreck your entire business.

Your business, like nearly every enterprise, depends on credit facilities to assure smooth cash flow. But have you thought about how your vulnerability to identity theft could cost more than just a runaway credit card balance or a frozen bank account — how it could cost you your business?

The identity theft victim's creditworthiness, and consequently the ability to make business loan payments in a timely manner, can be adversely affected. If the lending bank "deems itself insecure," the loan may be accelerated. What if the bank can no longer be sure whose credit or guarantee is one the line? If your credit lines were suddenly called, would you have the cash to simply pay them online casino tropez promoredirect What impacts of identity theft that can result in this situation?

The http://borlon.info/online-casino-bonus-2015.php examples are illustrative, not exhaustive. Lost work time and earnings — according to the FTC, the average victim of identity theft spends hours in restoring his or online casino tropez promoredirect identity.

Inability to get a online casino tropez promoredirect audit and accurate credit report to support other financial needs, such as liquidity for a small business owned by the borrower; other lenders may deem themselves insecure and cause a cross-default situation.

Adverse action by the IRS based on employment being gained by another individual using the business owner's name and Social Security online casino tropez promoredirect typically, the other individual is a felon or otherwise unable to gain employment; online casino tropez promoredirect bogus W-2 is issued in the name of the victim, causing tax payment deficiencies.

General disruption of the business owner's ability to generate the income to make timely loan payments.


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