Limited liability partnership

up for VAT if the business’s takings are more than threshold’s that are set each year. Examples of sole traders are window cleaners & painters. Partnership – This relies on two or more people owning the…

Marketing has the 4 Ps which are product, price, placement and promotion. In the insurance industry, the products are the policy documents, the wordings of which are fixed and cannot be changed by any insurance company. Placement and promotion of the insurance products is almost same for all companies and thus the main aspect to be considered is price. Due to the cut throat competition and price being fixed and non-negotiable, the insurance companies then have two option in front of them, which…

Those involved in a limited partnership are in a unique situation in that they are only legally responsible for their investment in the partnership interest. In certain companies, “the limited partner may be subject to special tax liabilities… individual limited … partners include their allocable share of partnership income or loss on their individual income tax returns and pay taxes on that share based on their tax bracket” (Entrepreneur, 2014). Corporation Tinker & Tailor’s Home Security…

,( A) KALLESI MACTAVISH V MAYA STORK In this case Kallesi Mctavish who is the owner of establishment is the principle and Maya Stork the manager of the hotel is the Agent who orders supplies to the hotel. The suppliers are known as the third party. Maya stock as an agent is not allowed to order any expensive shampoo and shower gels as well as any supplies that are over £150 without kallesi’s approval since she is the principle. All the standard suppliers to the hotel are mindful of this…

With the prospect of other business in mind it was unambiguous that the company structure be set in such a manner as to relieve the liabilities off of the owners and allow the development of the business to be formed without seeking outside sources of…

My business will be a limited liability company. A limited liability company is a company composed of multiple people in a special written agreement. It distributes the loses and gains and assigns to people to their interests. When using an LLC our personal assets will also be protected if someone…

There are many different types of business to consider when an individual starts their own business. The three main types are a Sole Proprietorship, Corporation and a Limited Liability Company. There are also many areas of business that an individual could pursue. Personally, if I could open my dream business it would be an equine (horse) boarding business ran by my husband and I. This business would involve the boarding of horses for extended periods, giving them quality care while their…

• Step 1: Corporation or LLC action Company owners must approve the dissolution of the business. With corporations, the shareholders must approve the action; with limited liability companies (LLCs), members grant approval. For small businesses, shareholders or members are often involved in day-to-day operations, and typically know the circumstances. The bylaws of a corporation and the LLC operating agreement typically outline the dissolution process and needed approvals. To comply with…

by myself solely and there are no legal distinctions between myself and my business then this would be a sole proprietorship. Furthermore, I started a business with a partner in which I own 50% and he owns the same amount, our business is a Limited Liability Corporation. And we decided on a LLC simply to split our tax…

Management & Administration Ownership: Obie-Achi is a Limited Liability Company (LLC) that contains the characteristics of a corporation and a sole proprietorship. We will be taxed just like a sole proprietor but with the limited liability of a corporation. This gives us flexibility when it comes to taxes because we will not be taxed directly, we will be able to decide how we want to be taxed. Also, being an LLC protects our business and employees from liability, so they won’t be personally…