1. Advantages and disadvantages of business ownerships.

2. Sole Proprietorship Advantages. Sole proprietorship is easy and inexpensive to create. The owner has complete authority over all business actives. It is the least regulated form of business ownership. The business pays, no taxes, income is taxed at personal rate of owner.

3. Sole Proprietorship Disadvantages. Owner has unlimited liability. Raising capital is more difficult. Business is totally reliant on skills and abilities of owner. Death of owner dissolves the business unless there is a will to the contrary.

4. Partnership Advantages. Are inexpensive to create. General partners have complete control. Partners can share ideas. Partners can share ideas and secure investment capital more easily and in greater amounts.

5. Partnership Disadvantages. Is difficult too dissolve one partner interest with out dissolving the partners. There may be personality conflicts. Partners can be held liable for each other’s actions.

6. Corporation Advantages. Status. Limited liability. Ability to raise investment money. Perpetual existence. Employee benefits. Tax advantages.

7. Corporation Disadvantages. Expensive to set up. Income is more heavily taxed. Subject to double taxation on income. Pays taxes on profits. Stockholders pay taxes on dividends