what is the advantage of an LLC over am LPP business form?
what is the advantage of an LLC over am LPP business form?
Homework Answers
LLC is Limited liability Corporation. And LLP is Limited liability Partnership. Both have different structures in the aspects of law, liability preferences,tax benefits and the requirements of the firm.
Advantages of LLC over LLP are:
- LLC has to bear all the tax liability alone and is risky while LLP has partners to share the risk within.
- LLP has different partners to bring in different ideas but LLC is a single entity and has to deal with it's risk of taking a decision.
- LLC has to forebear all the responsibilities by its own while partners in the LLP can share the risk and responsibilities of the firm.
- LLP's are good in attracting the investors while LLC's are too risky from the investor's perspective.
WHY MIGHT THE LLC FORM OF BUSINESS ENTITY BE PREFERRED OVER AN S CORPORATION LLC HAVE...
WHY MIGHT THE LLC FORM OF BUSINESS ENTITY BE PREFERRED OVER AN S CORPORATION LLC HAVE LOWER TAX RATES LLC IS NOT A PASS THROUGH ENTITY THERE ARE NO RESTRICTIONS ON THE NUMBER OF TYPES OF INVESTORS THERE ARE RESTRICTIONS ON CLASSES OF STOCK
Why is the corporation form of business the most dominate form over all others? Explain the...
Why is the corporation form of business the most dominate form over all others? Explain the advantage or disadvantage, as you see it, of a corporation over one of the other forms?
acct hw QUESTION 1 The partnership form of business organization has tax advantage over sole proprietorship....
acct hw
QUESTION 1 The partnership form of business organization has tax advantage over sole proprietorship. combines the records of the business with the personal records of the owner. has tax advantage over corporation. is classified as a separate legal entity. QUESTION 3 Retained earnings is part of stockholders' equity is part of assets is part of liabilities is part of common stock QUESTION 4 A payment of a portion of an accounts payable will increase liabilities decrease stockholders' equity....
what is meant by initial basic feasible solution in lpp?
what is meant by initial basic feasible solution in lpp?
Tim, a single taxpayer, operates a business as a single-member LLC. In 2019, his LLC reports...
Tim, a single taxpayer, operates a business as a single-member LLC. In 2019, his LLC reports business income of $404,500 and business deductions of $707,875, resulting in a loss of $303,375. What are the implications of this business loss? a. Tim has an excess business loss of $ b. Can this business loss be used to offset other income that Tim reports? If so, how much? If not, what happens to the loss? Tim may use of the $303,375 LLC...
Fill the gaps LLC vs Corporation Corporation LLC How the Business is Formed Business Ownership Profits...
Fill the gaps LLC vs Corporation Corporation LLC How the Business is Formed Business Ownership Profits and Losses Taxes for Corporations and LLCs (example: both had profit $350 000; 2 members in LLC) Self-employment Taxes Tax base
1. business model design and different forms of business entity (i.e. "C" Corp, "S" Corp. LLC,...
1. business model design and different forms of business entity (i.e. "C" Corp, "S" Corp. LLC, Partnership). 2. Demonstrate how to form a corporation in California.
5. Nazih and Ovidia are deciding what form their new business should take. They need to...
5. Nazih and Ovidia are deciding what form their new business should take. They need to raise a lot of capital quickly and plan to sell ownership shares of their business to a group of sophisticated investors who do not want to participate in managing the business. It is important to those potential investors that the laws governing the new business be predictable and well-established in case a dispute arises later on. Taking into account these factors, Nazih and Ovidia...
Question 7 of 75 Joel operates his business, Carso What is the most likely form of...
Question 7 of 75 Joel operates his business, Carso What is the most likely form of Joel's business? n Collectibles, by himself. He has made no election with his state regarding his business O Sole Proprietorship. O LLC O Partnership. O Corporation. Mark for follow up
Tim, a single taxpayer, operates a business as a single-memberLLC. In 2019, his LLC reports...
Tim, a single taxpayer, operates a business as a single-member LLC. In 2019, his LLC reports business income of $225,000 and business deductions of $580,000, resulting in a loss of $355,000.a. What are the implications of this business loss?Tim has an excess business loss of $X.XXb. Can this business loss be used to offset other income that Tim reports? If so, how much? If not, what happens to the loss?Tim may use $X.XX of the $355,000 LLC business loss, to...
acct hw
QUESTION 1 The partnership form of business organization has tax advantage over sole proprietorship. combines the records of the business with the personal records of the owner. has tax advantage over corporation. is classified as a separate legal entity. QUESTION 3 Retained earnings is part of stockholders' equity is part of assets is part of liabilities is part of common stock QUESTION 4 A payment of a portion of an accounts payable will increase liabilities decrease stockholders' equity....
Tim, a single taxpayer, operates a business as a single-member LLC. In 2019, his LLC reports business income of $404,500 and business deductions of $707,875, resulting in a loss of $303,375. What are the implications of this business loss? a. Tim has an excess business loss of $ b. Can this business loss be used to offset other income that Tim reports? If so, how much? If not, what happens to the loss? Tim may use of the $303,375 LLC...
Fill the gaps LLC vs Corporation Corporation LLC How the Business is Formed Business Ownership Profits and Losses Taxes for Corporations and LLCs (example: both had profit $350 000; 2 members in LLC) Self-employment Taxes Tax base
Question 7 of 75 Joel operates his business, Carso What is the most likely form of Joel's business? n Collectibles, by himself. He has made no election with his state regarding his business O Sole Proprietorship. O LLC O Partnership. O Corporation. Mark for follow up
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