​421 Discussion Question 1

timer Asked: Oct 18th, 2018
account_balance_wallet $10

Question Description

421 Discussion Question 1: Bob has been a self-employed (sole proprietor) in his business for many years. Wanting to be able to pass his business on to his children more efficiently, he incorporates his business as Bobco, Inc., a C corporation. What are some adjustments that Bob will need to make and lessons he will need to learn as he learns to operate as a corporation, not a proprietorship?

Tutor Answer

School: UIUC


Running head: 421 DISCUSSION


421 Discussion



Bob’s decision to go corporate is a plausible one given the advantages that are
associated with the latter, for instance, getting limited liability protection and lowering the
taxes that the business pays. But for him to incorporate, there are some adjustments that need
to be made. Firstly, it is closing the existence of the business as a sole proprietorship. This
will involve can...

flag Report DMCA

Thank you! Reasonably priced given the quality not just of the tutors but the moderators too. They were helpful and accommodating given my needs.

Similar Questions
Hot Questions
Related Tags
Study Guides

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors