Reference no: EM133040811

Something just like this below:

• "Sole Proprietorship is the best legal structure for my web business at the current time. One of main reasons I chose this structure is that it has fewer legal regulations. This means I can quickly get my business up and going without hiring a CPA or a lawyer to draw up the paperwork and file the necessary forms. This structure also meets my needs as it only allows for one single owner. At this point I do not plan to have any employees. In a sole proprietorship decisions can be made quickly. Under this legal structure I would be solely responsible for all of the liability for debts and claims against the business. I would also be responsible for all capital transactions including claiming all profits and losses on my personal income tax return. One of the main disadvantages of this business model is that in the event of my death the business would be dissolved. Another disadvantage is that my personal assets would be at risk if someone filed suit against the business. There are also certain tax benefits that I would be unable to take advantage of under this legal structure. Overall when I weigh the cost and complexity of the other business models this one seems to be the best alternative at the current time. I can always incorporate at a later time. There are over 15 million sole proprietorship's in the United States."

What are the pros and cons of a sole proprietorship. Think and respond to the following questions:

• What else would you add?
• Under what circumstances would you choose a different legal structure?
• Are there other factors we should consider?
• Are there any websites or tools that you have found helpful in choosing a legal structure?
• What are your thoughts on which legal structure is the best and why?

Briefly talk about each of them, and It's about web business.