Purchase Solution

Elaine and Roy are registered nurses. They want to start a h

Not what you're looking for?

Ask Custom Question

Elaine and Roy are registered nurses. They want to start a home health agency, taking referrals from physicians and providing health care to homebound patients. They plan to be in business for 10 years.

Identify the reasons why incorporation is an effective idea for their business, the steps they must take to incorporate their business, and the steps they must take to dissolve the corporation once the 10 years has passed.

Purchase this Solution

Solution Summary

Elaine and Roy are registered nurses. They want to start a home health agency, taking referrals from physicians and providing health care to homebound patients. They plan to be in business for 10 years.

Identify the reasons why incorporation is an effective idea for their business, the steps they must take to incorporate their business, and the steps they must take to dissolve the corporation once the 10 years has passed.

Solution Preview

Elaine and Roy are registered nurses. They want to start a home health agency, taking referrals from physicians and providing health care to homebound patients. They plan to be in business for 10 years.

Identify the reasons why incorporation is an effective idea for their business, the steps they must take to incorporate their business, and the steps they must take to dissolve the corporation once the 10 years has passed.

Solution:

There are many reasons why incorporating would be an effective idea for this business.

- Protection of personal assets: Safeguarding personal assets against creditor claims and lawsuits is a primary advantage. In a corporation, stockholders, directors and appointed officers are only liable up to the amount that they have invested in the corporation.

- Ownership: Ownership in a corporation can be easily transferable to others, either as a percentage or as a whole ownership.

- Taxation issues: Corporations have a lower tax rate than ...

Purchase this Solution


Free BrainMass Quizzes
Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Accounting: Statement of Cash flows

This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.

Lean your Process

This quiz will help you understand the basic concepts of Lean.

Situational Leadership

This quiz will help you better understand Situational Leadership and its theories.

Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.