The sole proprietorship is the oldest, simplest, and most common form of business entity. It is a business owned by a single individual.
online pharmacy tetracycline with best prices today in the USAFor tax and legal liability purpose, the owner and the business are one and the same. The proprietorship is not taxed as separate entity. For liability purposes, the individual and the business are also one and the same. Thus, legal claimants can pursue the personal property of the proprietor and not simply the assets used in the business.
ADVANTAGES OF A SOLE PROPRIETORSHIP
Perhaps the greatest advantage of this form of business is its simplicity and low cost. You are not required to file with the government, nor are any legal charter required for Registration of the same. The sole proprietorship form of business has other advantages:
- The owner or proprietor is in complete control of business decisions.
- The income generated through operations can be directed into the proprietor”™s pocket or reinvested as he or she sees fit.
online pharmacy lasix with best prices today in the USA
- Profits flow directly to the proprietor”™s personal tax return; they are not subject to a second level of taxation. In others words, profits from the business will not be taxed at the business level.
- The business can be dissolved as easily and informally as it was begun.
- These advantages account for the widespread adoption of the sole proprietorship in the India. Any person who wants to set up shop and begin dealing with customers can get right to it, in most cases without the intervention of government bureaucrats or lawyers.
DISADVANTAGES OF THE SOLE PROPRIETORSHIP
This legal form of organization, however, has disadvantages:
- The amount of capital available to the business is limited to the owner”™s personal funds and whatever funds can be borrowed. This disadvantages limits the potential size of the business, no matter how attractive or popular its product or service
- Sole proprietors have unlimited liability for all debts and legal judgements incurred in the course of business. Thus, a product liability lawsuit by a customer will not be made against the business but rather against the owner.
- The business may not be able to attract high-calibre employees whose goals include a share of business ownership. Sharing the benefits of ownership, other than simple profit-sharing, would require a change in the legal form of the business.
online pharmacy topamax with best prices today in the USA
- Some employee benefits, such as owner”™s life, disability, and medical insurance premiums, may not be deductible, or may be only partially deductible from taxable income.
- The entity has a limited life; it exists only as long as the owner is alive. Upon the owner”™s death, the assets of the business go to his or her estate.
- The other main disadvantage is that the owner cannot withdraw any amount towards his Interest on his capital or as his Salary.
- The Proprietorship firm is not a separate legal entity. Meaning Assets cannot be purchased in the name of the firm. It shall be made only in the name of the Proprietor.
/0.png)
/1.png)
/2.png)
/3.png)
/4.png)
/5.png)
/6.png)
/7.png)
I got what you mean , appreciate it for putting up.Woh I am lucky to find this website through google. “I was walking down the street wearing glasses when the prescription ran out.” by Steven Wright.
Thank you for the sensible critique. Me and my neighbor were just preparing to do a little research about this. We got a grab a book from our area library but I think I learned more clear from this post. I am very glad to see such great information being shared freely out there.
Generally I don’t read article on blogs, but I wish to say that this write-up very compelled me to try and do it! Your writing style has been amazed me. Thank you, very nice article.
Absolutely written content material , appreciate it for selective information .
You have brought up a very great points , regards for the post.
I must express some thanks to the writer for bailing me out of this instance. As a result of searching throughout the search engines and obtaining techniques which were not helpful, I believed my entire life was done. Living without the presence of answers to the difficulties you’ve fixed by means of this article content is a crucial case, as well as the ones that could have badly damaged my entire career if I had not come across your web site. Your good ability and kindness in playing with all areas was very helpful. I am not sure what I would have done if I had not discovered such a solution like this. It’s possible to now look forward to my future. Thanks a lot so much for your high quality and result oriented help. I will not think twice to endorse your blog post to anybody who should get care about this subject.
Really great information can be found on site . “You have to learn that if you start making sure you feel good, everything will be okay.” by Ruben Studdard.
I really like your writing style, fantastic info, appreciate it for putting up :D. “Let every man mind his own business.” by Miguel de Cervantes.
Marvelous, what a blog it is! This web site presents useful facts to us, keep it up.
I simply could not go away your website before suggesting that I extremely enjoyed the usual info a person provide on your visitors? Is gonna be back incessantly in order to inspect new posts.
Very interesting topic, thanks for posting.
A person essentially assist to make severely posts I would state. This is the first time I frequented your website page and up to now? I surprised with the research you made to make this actual submit amazing. Excellent task!
I like this blog so much, bookmarked. “To hold a pen is to be at war.” by Francois Marie Arouet Voltaire.
Very interesting topic, thanks for posting.
What i don’t understood is if truth be told how you are no longer really much more well-favored than you might be now. You are so intelligent. You recognize therefore significantly with regards to this subject, made me in my view believe it from numerous varied angles. Its like women and men aren’t fascinated except it is something to accomplish with Girl gaga! Your personal stuffs great. All the time handle it up!
I’ve learn several good stuff here. Definitely price bookmarking for revisiting. I wonder how much attempt you place to make such a great informative web site.
This is very interesting, You’re a very skilled blogger. I have joined your rss feed and look forward to seeking more of your wonderful post. Also, I have shared your web site in my social networks!
I really appreciate this post. I’ve been looking all over for this! Thank goodness I found it on Bing. You have made my day! Thanks again!
I don’t even know how I ended up here, but I thought this post was good. I do not know who you are but definitely you are going to a famous blogger if you aren’t already 😉 Cheers!
Fantastic web site. Plenty of helpful info here. I am sending it to a few pals ans additionally sharing in delicious. And of course, thanks to your effort!
Magnificent beat ! I wish to apprentice while you amend your web site, how can i subscribe for a blog web site? The account helped me a acceptable deal. I had been tiny bit acquainted of this your broadcast provided bright clear idea
I simply want to say I am very new to blogging and site-building and seriously loved this website. Likely I’m likely to bookmark your blog post . You surely come with impressive articles. Bless you for sharing with us your website.
Some truly fantastic articles on this web site , thankyou for contribution.
I simply had to thank you so much once again. I am not sure the things I would have achieved in the absence of these basics shared by you relating to this industry. Completely was the intimidating case for me personally, but being able to view the expert avenue you managed the issue made me to leap over joy. Extremely grateful for your assistance and as well , believe you realize what an amazing job that you’re carrying out teaching the rest via your blog post. I’m certain you haven’t encountered any of us.
Excellent post. I was checking constantly this blog and I’m impressed! Extremely helpful information specifically the last part 🙂 I care for such info a lot. I was seeking this particular information for a long time. Thank you and best of luck.
These are genuinely great ideas in regarding blogging. You have touched some nice things here. Any way keep up wrinting.|
I like what you guys are up also. Such smart work and reporting! Keep up the superb works guys I¡¦ve incorporated you guys to my blogroll. I think it’ll improve the value of my site 🙂
I simply want to say I am just newbie to weblog and honestly liked you’re page. Very likely I’m going to bookmark your blog . You surely have great articles and reviews. Cheers for sharing with us your web-site.
I’m writing to make you be aware of what a remarkable encounter my wife’s child obtained going through the blog. She figured out a lot of pieces, which include what it’s like to have an excellent helping style to let certain people with no trouble fully understand selected complicated subject matter. You actually surpassed people’s expectations. I appreciate you for churning out such practical, trusted, explanatory not to mention unique tips on your topic to Ethel.
Quality content is definitely the important to attract the visitors to pay a brief visit
the site, that’s what this site is providing.
My page; ElmerPHisman
Hi, the whole thing is going well here and ofcourse every one is sharing information, that’s really good, keep up writing.
Feel free to visit my page; MarkusZYum