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Atricle Dump - Structuring Your Business
Leading Change - A Manifesto for ChangeLeading organizational change requires a manifesto for change. Your manifesto begins by saying the following:1. I understand that all progress requires change but all change is not progress.2. I understand that all change comes from leadership but not all leaders can drive change.Okay, if you truly get that the next step is to answer these two questions:1. What problem am I trying to solve?2. What will success look like when I solve it?It’s important that you answer the two questions above. The corporation is its own entity, it pays its own taxes and handles its own liability, meaning that individual officers (executives) and shareholders (investors) are normally not liable for any expenses or damages. This protection is not absolute, however. For proof, one need look no furth Pros and Cons of Limited Liability CorporationsA limited liability company or LLC is a business organization that is a hybrid between partnership or sole proprietorship and corporation. Limited liability corporations are known to allow the most flexible management agreements. They also give a lot of freedom regarding allocation of income. This means that the members are allowed to distribute the income in any way they wish, as agreed upon by all of them, without the need for additional filings.Similar to the owners of partnerships or sole proprietorships, LLC owners report b Basic business types include:- Sole proprietor: This is the oldest and simplest form of business there is. A single person launches a business that may or may not have employees, a storefront, etc. The advantage of a sole proprietorship is simplicity. All business income and expenses are reported as schedules on your personal income tax. The drawback is that there is no separation between you and the business. If the business owes money or is found liable for any damages, you are personally responsible. It is entirely possible that a business mishap could ruin your personal finances.
- Partnership: Same as the sole proprietor except with two or more people. Here again, simplicity is the main advantage. Also, the liabilities are spread among all of the partners according to their share of the business. The bad news is that disagreements between the partners can wreak havoc on everyone.
- Corporation: Think of starting a corporation as giving birth to a separate entity that exists on paper. This entity has many of the same rights and responsibilities of a natural person. Because a corporation is its own entity, it pays its own taxes and handles its own liability, meaning that individual officers (executives) and shareholders (investors) are normally not liable for any expenses or damages. This protection is not absolute, however. For proof, one need look no furth
Viagra: A Brand That Won't Go AwayRemember That Brand? Well It’s Back! One would have to travel to the back woods of the Appalachians or perhaps to the cave dwellings in the Southwestern canyons to find anyone who has not heard of Viagra. Viagra, the market-leader of male erectile dysfunction prescription drugs, continues to occupy valuable space in the mind of the male consumer. What is so enchanting about an erectile dysfunction pill? How does Viagra have such appeal when it is the focus of late night comedy and radio morning shows? As consumers we seldom question a ess income and expenses are reported as schedules on your personal income tax. The drawback is that there is no separation between you and the business. If the business owes money or is found liable for any damages, you are personally responsible. It is entirely possible that a business mishap could ruin your personal finances. - Partnership: Same as the sole proprietor except with two or more people. Here again, simplicity is the main advantage. Also, the liabilities are spread among all of the partners according to their share of the business. The bad news is that disagreements between the partners can wreak havoc on everyone.
- Corporation: Think of starting a corporation as giving birth to a separate entity that exists on paper. This entity has many of the same rights and responsibilities of a natural person. Because a corporation is its own entity, it pays its own taxes and handles its own liability, meaning that individual officers (executives) and shareholders (investors) are normally not liable for any expenses or damages. This protection is not absolute, however. For proof, one need look no furth
The Playful Policy ReviewThis bizarre report arrived from a perturbed customer in Asia:I wanted to play golf at a prestigious course in town, so I went to the Pro-Shop to book a time.The attendant at the counter said she could not take my booking in person as she was only allowed to accept golf reservations by telephone.I explained that I wanted to make a booking right away. And since I was already there, wouldn’t she please make the reservation?The attendant refused once again, repeating that she only took bookings mishap could ruin your personal finances. - Partnership: Same as the sole proprietor except with two or more people. Here again, simplicity is the main advantage. Also, the liabilities are spread among all of the partners according to their share of the business. The bad news is that disagreements between the partners can wreak havoc on everyone.
- Corporation: Think of starting a corporation as giving birth to a separate entity that exists on paper. This entity has many of the same rights and responsibilities of a natural person. Because a corporation is its own entity, it pays its own taxes and handles its own liability, meaning that individual officers (executives) and shareholders (investors) are normally not liable for any expenses or damages. This protection is not absolute, however. For proof, one need look no furth
A Career in the Advertising BusinessWith all its glitz and glamour, many people believe that working in advertising is all fun and games. Nothing could be father from the truth as advertising agency people are some of the hardest working professionals around. At its very core, advertising is still a business and a very competitive business at that. Now, if despite that knowledge, you still think that advertising is a good place of employment, then read on to get a better idea of how the advertising world works.Basically, advertising serves the function of promotin ews is that disagreements between the partners can wreak havoc on everyone. - Corporation: Think of starting a corporation as giving birth to a separate entity that exists on paper. This entity has many of the same rights and responsibilities of a natural person. Because a corporation is its own entity, it pays its own taxes and handles its own liability, meaning that individual officers (executives) and shareholders (investors) are normally not liable for any expenses or damages. This protection is not absolute, however. For proof, one need look no furth
Who Stole My Customer?Having a break-in is a personal violation that creates a sense of fear, panic and confusion. The questions that race through your mind are, what happened and why me? What could we have done to prevent this? When a business experiences this, the reality is that simple measures could have prevented the customer loss.The customer was stolen because they were left out in the open for anyone to take. In many cases it's from lack of communication. The customer was happy with your services or product, but you didn't really pay attentio corporation is its own entity, it pays its own taxes and handles its own liability, meaning that individual officers (executives) and shareholders (investors) are normally not liable for any expenses or damages. This protection is not absolute, however. For proof, one need look no further than the Enron trial. Liability and financial protection plus the ability to sell shares to investors are a corporation’s biggest advantages. The drawback is that the paperwork and other legal requirements can be quite complex. There are also tax ramifications. Corporations in the United States come in two flavors: S (typically for smaller companies) and C (typically for larger companies). Corporations have lives of their own, meaning that they continue after their founders leave or pass away. - Limited Liability Company: What if you could have the simplicity of a sole proprietorship with the liability protection of a corporation? The Limited Liability Company (LLC) is a fairly recent phenomenon that has become increasingly popular because it offers the best of both worlds. Like a sole proprietorship, an LLC ceases to exist when the owner passes away or leaves the company.
- Limited Liability Partnership: An LLP is the same as the LLC except owned by two or more people. This is very similar to the partnership discussed above. The biggest drawback that I see with an LLP is that it ceases to exist when o
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