Explaining how each is impactful to barrys liability

Reference no: EM133722795

LEGAL ENVIORNMENT OF BUSINESS

Sources of the Law, "The Accountant's Professional Liability"

Instruction
Imagine you work as a CPA at a firm which represents Barry Stone. Barry has secured a $100,000 small business line of credit to establish a food truck.
Write a 3-5-page academic paper outlining the key differences between a sole proprietorship, an LLC (Limited Liability Company), and a partnership. (Please be aware that the title page and the resource page do not count towards the total number of pages.)
Support your opinion(s) by reviewing and applying the following question and statement below.

- Clarify your narrative by thoroughly explaining how each is impactful to Barry's liability and tax obligations?
- Finally, provide your suggested business organization for Barryand the rational for your choice.
Please adhere to Strayer Writing Standards (SWS) when drafting your academic paper. Please use the library for SWS assistance, including citations and formatting.

OUTLINE

Please use this outline to assist in writing the 3-5-page academic paper.
- Discuss the characteristics of a sole proprietorship, partnership, and LLC (Limited Liability Company).
- Considerations for this assignment include tax implications, costs, flexibility, ownership & control related to each business entity.

Reference no: EM133722795

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