QuickHelper

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About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

Expertise:
Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 362 Weeks Ago, 4 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Management Posted 05 Oct 2017 My Price 8.00

Scenario: John is an analytical chemist and has decided to go into business for himself.

Scenario: John is an analytical chemist and has decided to go into business for himself. John plans to offer chemical analysis services to manufacturing companies. He plans to operate his business out of his home, but will also be using specialized and expensive chemical analysis equipment located at a local university. The chemicals that John uses in his work and that he analyzes are sometimes classified as hazardous substances. John has some money saved and does not currently expect to need to borrow money. He believes that he will be making a profit very quickly. His wife plans to help him with bookkeeping and paperwork.

A. What business form will be the best one for John? Why? Please consider all alternatives and discuss pros and cons of each alternative in areas such as personal liability, costs, paperwork and ease of administration, taxes and ability to obtain financing. Below is a sample chart.

TYPE OF ENTITY

PERSONAL LIABILITY

TAXES

ADMINIS-

TRATION

FINANCING/

EMPLOYEES
         
         
         
         

B. What other steps would you advise John to take?

 

Source : Advanced business law and the legal environment (2014). The sailor foundation

Answers

QuickHelper
(10)
Status NEW Posted 05 Oct 2017 12:10 PM My Price 8.00

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