Accounting Legality

This paper volition focus on a c in alling situation while focusing on a individual communication seam entity and discussing the true communication channel environment and emphasizing on trade strategies and recommendations. The contemporary and early business strategy will deal factors such as liability, financial, legal, and the span of control of all members tangled in the business entity while ensuring a boffo and profitable venture for all vested parties involved in the facilitation of the business. The business entity that will be discussed is Joes Landscaping service of process and will address the above factors. Joe is operating a half-size lawn care business as a sole proprietor. His current assets amount to $25,000, this includes his equipment and his truck. Joe overly has three full-time employees. Joe is responsible for their lucre and tax deductions. The labour laws are different in every state, so Joe moldiness know the current law in the state he resid es. Lawn care is some areas whitethorn be seasonal, Joe must as well as know how to develop vanquish for the winter months when the work is slow. He may ail to pay unemployment tax for his employees when they are not working. Currently, Joes married charwoman is taking care of the books. She has not been involved in severally of the daily business operations.

Without proper accounting experience and familiarity of the current tax laws, she might not know how Joe tin plentitude benefit from certain business incentives. Aside from the lawn care component of Joes business; he also manages a small equipment let service. This side of the business car! ries extremely high liability. Joe needs to stick proper rental agreement and contracts reviewed regularly. A sole proprietorship can offer Joe some protection, but not as more as if his business were organized as a special(a) Liability Corporation (LLC). A LLC protects Joes personal assets... If you want to live on a full essay, order it on our website: OrderCustomPaper.com

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