Ideas for starting a plumbing business
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What would be the best choice for the business entity that represents a plumbing service that will be opened thru out the united states? What new business steps would be required to take control re: forming a corporation, taxation, and liability issues into consideration. Identify what laws and regulations this business must consider in the start up process and identify what the possible risks could be.
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The solution provides ideas for starting a plumbing business.
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Business entity for plumbing business, it is recommended that to form a corporate entity such as an LLC or Corporation. Form an LLC because the use of workers makes the owner as an employer and thus subject to federal and state unemployment and employment taxes as well as Medicare, and social security taxes. In addition, forming an LLC or incorporating will shield the owner unintentional personal business related actions. Form an LLC and the owner will be separated from being liable for personal civil liability as well as help the owner avoid business debt related lawsuit against himself and the personal assets for debts he may obtain for the business and have signed as an officer of the corporation or an LLC. In short, ...
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