This article continues our review of the prominent business structures, namely Business Partnerships. Today we address the question, what is a Limited Partnership. A limited partnership is a business partnership agreement between two or more partners. At least one partner is a general partner and at least one partner is a limited partner. The general …
This article continues our review of the prominent business structures, namely Business Partnerships. Today we address the question, what is a Limited Liability Partnership. A Limited Liability Partnership is a separate legal entity from its owners. It is governed by its partnership agreement. Each partner enjoys limited liability protection from the professional malpractice of another …
In our study of the prevalent business structures you may wonder what options are available for entrepreneurs who go into business together. We’ll discuss one of the options as we answer the question, What is a Partnership Business? A partnership is a relationship existing between two or more persons who agree to carry on a …
In our study of the prevalent business structures for small business owners, we’ve reviewed sole proprietorships and limited liability companies. Today we answer the question, what is an S Corp? An S Corp is a special tax designation for small businesses. It allows corporations that meet S Corp requirements to pass-through income, losses, credits, and …
When preparing to market your product, service or idea, it can be a challenge to understand the difference between advertising and marketing. You may be surprised to learn that it isn’t so much about how they differ, but rather how one is a subset of the other. So what is the difference between marketing and …
One of the best business structures for today’s small business owners is an LLC, but what is a limited liability company? An LLC is a state-sanctioned business entity unto itself. It offers the limited liability protection of a corporation and the tax efficiencies of a sole proprietorship or partnership. The business owners are called members. …
If you are considering the launch of a new business, a sole proprietorship is a business structure you will want to consider. The questions, what is a sole proprietorship? A sole proprietorship is the least complex and most common business structure chosen to start a business. In fact, a sole proprietorship is the default business …
You are ready to start a small business, but what is the best business structure for solopreneurs: Sole Proprietorship vs LLC? Although a sole proprietorship is the easiest business structure to create, a limited liability company (LLC) is often preferred because it affords personal liability protection. What is a Sole Proprietorship A sole proprietorship is …
While everyone knows what an entrepreneur is, only a few people realize the advantages of being a solopreneur. Solopreneur comes from a combination of the words “solo” and “entrepreneur”. Solopreneurs are entrepreneurs with benefits. They have full control of their businesses, capitalize on their passions, enjoy flexibility, and avoid some of the risks associated with …