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CHFC > Business Advantage/ Disadvantage > Flashcards

Business Advantage/ Disadvantage Flashcards

1
Q

Sole proprietorship

A

unlimited liability

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2
Q

general partnership

A

= all active

*** raise capital from others

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3
Q

corporate (ā€œcā€)

A

reinvest earnings

*** defer income on individual fed tax

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4
Q

limited partnership

A

compensate passive owners

***equal control, limited liability

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5
Q

LLC

A

members taxes as partnership

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6
Q

S corp

A

capital intensive

  • **raise capital from nonactive owners
  • ** minimize risk/taxes
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CHFC (8 decks)

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