Sign In
Not register? Register Now!
Essay Available:
Pages:
3 pages/≈825 words
Sources:
1 Source
Style:
MLA
Subject:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 14.04
Topic:

Important Questions and Information Regarding a Business

Essay Instructions:

Imagine that a friend is starting up a business and asks you what type of legal business entity she should create. She explains that she really wants to keep what she earns, saying, "I don't want to pay a penny more in taxes than I have too!"
This is not a simple question, but you want to keep it relatively simple for the sake of your conversation with her. You'll need to know a bit more before you make your recommendation. Then of course, you'll have to explain to her why your recommendation is the most prudent decision.
Choose from one of the following businesses (or another of your own choosing):
Wholesale tack shop.
Certified financial planning service.
3D printing manufacturing company.
Retail ice cream shop.
Instructions
Consider the scenario above and complete each of the following parts of the assignment (in 3-4 pages) in an organized and professional manner.
Part 1: Gather Information
Explain 3-4 of the most important questions or information regarding the business that will drive your advice, including why they are important. You'll need to make some assumptions to form your questions. Then provide your own realistic answers to those questions. These answers should directly inform your recommendation.
Part 2: Outline the Possible Options
Describe the two best business entity types from a high level, making sure to highlight significant pros and cons of each. The best entity type is one that considers solutions that heavily weight tax related implications.
Part 3: Share Your Recommendation
Recommend the superior option, making sure to justify your choice with sound tax-related rationale. Consider the following criteria:
Tax savings.
Complexity—compliance, documentation, accounting workload, et cetera.
Effort or costs required to legally establish the company.
Any other items that you think are important.
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all support. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
Analyze taxation considerations of various types of business entities.

Essay Sample Content Preview:

Which Business Entity? A Taxation Question

Author’s Name

The Institutional Affiliation

Course Number and Name

Instructor NameAssignment

Due Date
Part One: Gather Information
Important Questions with Realistic Answers Regarding Business
To suggest the selection of a legal business entity, it is important to consider different factors as they influence the decision. The selected business to consider for a friend is Certified Financial Planning Service. Some of the important questions that need to be considered for starting a business are outlined below:
What is the size and scale of the expected business start-up?
This question can help the financial planner determine the complications and liabilities a business may face. A small business may not require a structure similar to that of a larger organisation (James & Thomas, 1). The realistic answer to this possible question is that the business is expected to be small at the start as it will serve local consumers but has the potential to grow with time.
To what extent can personal liability be considered for this business?
This question is important for different organisations as they protect personal liabilities at different levels. Also, gaining an understanding of possible levels of risk for an expected business entity is important (Jones, 2). The realistic answer to this question is the preference for minimum 

...
Updated on
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:
Order

👀 Other Visitors are Viewing These MLA Essay Samples: