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What entities or business forms are available for a new enterprise? Explain the advantages and disadvantages of each.

What entities or business forms are available for a new enterprise? Explain the advantages and disadvantages of each. PLDZ-4272 Free
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What entities or business forms are available for a new? enterprise? Explain the advantages and disadvantages of each.

https://uopcourses.com/category/acc-455/

 

What entities or business forms are available for a new? enterprise? Explain the advantages and disadvantages of each.

 

Begin by selecting the entity or business forms available for a new enterprise.? (Select all that? apply.)

Corporations

 

Limited liability partnerships? (LLP)

 

Limited liability companies? (LLC)

 

Sole proprietorships

 

Partnerships

 

 

 

Select an? "X" for the entities or business forms that offer the tax advantage listed when doing business as that type of entity. ?(If the entity or business form does not create the advantage? listed, leave the cell blank. For LLCs and? LLPs, assume that the entity has two or more owners and has not elected to be treated as a?corporation.)

Partner-

S

C

Sole

Advantages

LLC

LLP

ship

Corp

Corp

proprietor

Losses can be used to offset income from other sources (may be

 

subject to limitations.)

 

 

 

 

 

 

Not taxed as a separate business entity. Instead, all profits and losses

 

 

 

 

 

 

pass through to the owner(s) or member(s).

 

 

 

 

 

 

Shareholders generally can contribute money to or

 

 

 

 

 

 

withdraw money from this entity without recognizing gain.

 

 

 

 

 

 

Shareholder-employees are entitled to nontaxable fringe benefits.

 

 

 

 

 

 

Income is not subject to double taxation.

 

 

 

 

 

 

The entity can use a fiscal instead of a calendar year as its reporting period

 

 

 

 

 

 

without demonstrating a business purpose or making a special election.

 

 

 

 

 

 

There are no restrictions on the types of owners the company can have.

 

 

 

 

 

 

What entities or business forms are available for a new? enterprise? Explain the advantages and disadvantages of each. https://uopcourses.com/category/acc-455/ What entities or business forms are available for a new? enterprise? Explain the adva
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