Sole proprietorship-partnership and corporation

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While attending college, Julie Smith earned extra money by using her cooking skills to cater special parties and events. After graduation, Julie decided to turn her part-time work into a full-time business and if things go well, she plans to expand in the future. Julie wants to maintain control of the business.

Identify the best way she should organize and explain the reasons why you selected this method.

Discuss fully the following statement: “Corporations are not really run by their owners.”

Explain these types of business ownership including advantages and disadvantages of each: sole proprietorship, partnership, and corporation.

Terri Jones asks for your advice in opening a new business. She plans to provide tax-related services to individuals and small-business owners in her community. She wants an attractive means of starting and operating her business with support, name recognition, and a reasonable hope of succeeding. She wants to preserve her independence as a small business owner, but still enjoy some of the benefits of “bigness."

What would be your advice as to the kind of business Terri should look at opening and why?

Reference no: EM132192047

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