a disadvantage of a sole proprietorship is?
952529
b-COST! Especially taxes!
1002026
I would encourage people to try to not be dependent on corporations and try to start a small business of their own in something they are really interested in. Then I would make it easier for people to do this by taking away self employment tax and less easy on corporations.
903514
disavantage is usally there is a high start up cost.\n\nThe advantage is once it is set up you only need to hire one man and a dog. The man to set it up one time and the dog job it to keep the man from messing with it once it is set up
288517
Disadvantage is that some people are becoming more rich while others are becoming more and more dependent on them. Advantages- those rich people can help others, the standard of living must increase for all people.
516473
WELL.....u have 2 choices. 1) you don't register your business and dont' get a tax id and risk going to jail for not paying your taxes or 2) you pay taxes like your suppose to. (In reality, if you make less than a certain amount of money a year, then you don't have to pay taxes. I think its something like $9,000)
69572
The major advantages are that there an unlimited number of members allowed, there is generally no personal liability of the members, the entity is not taxed (profits and losses are passed through to the members), ease in filing with the states, and it is generally run through a Manager, rather than a board of directors (great for small companies or one that you wish to be similar to a closely-held corporation)
144406
Many entrepreneurs begin with a sole proprietorship, which is to say that they begin by doing business as the single owner of an unincorporated company. As such, a sole proprietorship is not a registered legal entity that is separate from its owner and therefore cannot technically be "changed" or converted to a limited liability company or a corporation, for that matter.\n\nInstead the sole proprietorship would cease to exist, and you would form a new LLC to conduct business. The cost involved comes from the filing of formal paperwork, usually called articles of organization, and the filing fee ranges from $40 to $900, depending on the state.
684604
Most probably an LLC\n\nA corporation differs from the other legal forms of business in that the law regards it as an artificial being possessing the same rights and responsibilities as a person. This means that, unlike sole proprietorships or partnerships, it has an existence separate from its owners. It has all the legal rights of an individual in regards to conducting commercial activity -- it can sue, be sued, own property, sell property, and sell the rights of ownership in the form of exchanging stock for money.  \n\nAs a result, the corporation offers some unique advantages. These include (1) limited liability: owners are not personally responsible for the debts of the business, (2) the ability to raise capital by selling shares of stock, and (3) easy transfer of ownership from one individual to another. Plus, unlike the sole proprietorship and partnership, the corporation has "unlimited life" and thus the potential to outlive its original owners.  \n\nThe main disadvantage of the corporate form can be summed up in two words: taxation and complexity. In what amounts to double taxation, you must pay taxes on both the income the corporation earns and the income you earn as an individual. Along with this, corporations are required to pay an annual tax on all outstanding shares of stock. Given its complexity, a corporation is both more difficult and more expensive to start than are the sole proprietor­ship and the partnership. In order to form a corporation, you must be granted a charter by the state in which your home-based business is located. For a small business the cost of incorporating usually ranges from $500 to $1,500. This includes the costs for legal assistance in drawing up your charter, state incorporation fees, and the purchase of record books and stock certificates. And, since corporations are subject to closer regulation by the government, the owners must bear the ongoing cost of preparing and filing state and federal reports.  \n\nLLCs offer greater flexibility in ownership and ease of operation. There are no restrictions on the ownership of an LLC. An LLC is simpler to operate because it is not subject to the formalities by which S corps must abide. An LLC can be member-managed, meaning that the owners run the company; or it can be manager-managed, with responsibility delegated to managers who may or may not be owners in the LLC. \n\nAnd the owners of an LLC can distribute profits in the manner they see fit.
254196
Yes. Any expense that is ordinary and necessary for you to run your business is deductible. There are to many to list here. To sum it up if you have to have it to make your business run than it IS a deduction. Also if you do your billing or keep you records in your home you might be able to take a home office. You can take such little thing as sunglasses off. I would not want to be behind a trucker with the sun in their eyes. Good luck.
872961
Time consuming\nErrors likely\nCan be costly (paying someone to do the accounting)\nWaste of cabinets
411271
Similar, but not necessarily so. As a sole proprietor, you can still create a balance sheet of your business. Even the self-employed separate business from personal expenses. \n\nYour net-worth will include the "value" of your business; however your balance sheet would be strictly business. Suppose you wanted to sell your sole-proprietorship (and it had some value someone would purchase), You would not provide a prospective buyer your net worth - you would provide a balance sheet, income statement, etc...
809742
It is both advantageous disadvantage and disadvantageous advantage.  It all depends on how YOU behave in PG level.
602889
Advantage is mainly ease of use as you can avail these facilities on net or phone or through ATMs however disadvantage is you loose human touch and worse is if something goes wrong it is very difficult to get it corrected.
154549
I have never heard of such a thing. Sole Proprietorship is a business owned directly by the individual. The business has no entity of itself, all debts of the business are debts of the owner an dall assets of the business are assets of the owner. All taxes are individual taxes of teh owner.\n\nA partnership is a business owned by two or more individuals. The business may or may not be its own entity depending on how it is organized.
770642
I know here in Canada anyway we went from a corporate to an incorporate company, it leaves us with alot less liability to the company. We are shareholders now instead of proprietors. \nIf our company goes belly -up we will not lose our house vehicles and money and such.\nOur personal is completely separate from the company.
60515
It has more disadvantages than advantages, but one of its advantages is the planning of the economy: A clear example of that are the examples of China and Mexico. In Mexico there is a democracy, so the discussion in congress stopped taking measures to attract investment. In China, the economy is centrally planned, so all the reforms needed to attract investment and create jobs were taken very fast, allowing the Chinese economy to grow at rates of 9% while Mexico was stuck.\n\nHowever consider the disadvantages of lack of freedom and that if an inneficient government get to power they can cause more damage.
225663
One of the benefits of LLC is that it does not have double taxation unlike corporations, while shielding your person from liabilities of the business (lawsuits for example will go after the business assets, not personal assets like a sole proprietorship). Check with your state if they will allow a one-person LLC.\n\nHere are some resources that can help you decide on your business structure:\n\nChoosing Your Legal Structure http://www.powerhomebiz.com/vol3/legalstructure.htm\nChoosing an LLC Structure for Your Business http://www.powerhomebiz.com/vol33/llc.htm\nLLCs vs. C Corporations http://www.powerhomebiz.com/vol97/llcs.htm\nS Corp. vs. LLC: Which Structure is Right for Your Business\nhttp://www.powerhomebiz.com/vol136/structure.htm\nLLC FAQ http://www.nolo.com/article.cfm/ObjectID/ED01121A-B4BF-498A-8BC0DBD121A0C869/catID/1745D9A3-D50D-4AAD-BFB3ED609A4EE3F5/111/FAQ/\n\nHere's a sample Operating Agreement for a 1-person LLC\nhttp://laweasy.com/forms/operating_agreement_for_one_llc_member.pdf