I will start off with the bad the disadvantages and those consist of.
Disadvantages
1.) Loss of centralized control by founder
2.) Paperwork, paperwork, paperwork
- Annual forms, budgets, audits, tax reports, board meeting agendas, minutes and reports, proposals
3.) Expense in money and time: corporate bank
- Accounts, expense reports, tax returns
Advantages
- Limited liability
- Tax advantages
- Stability, continuity and authority
- Strength of minds in decision making
- Other benefits: media access, donations, postage rates
- School loans paid off
No comments:
Post a Comment