YOUCPA

Your client through YOUCPA—a 50-year-old owner of a firm—has requested that she become a sole proprietorship in the state. The owner does not like paperwork and reporting of information. Her goal is to keep the business simple for her. The firm will have losses in the early years. However, you forecast steady profits for the firm after the 3rd year. She is contemplating passing on the firm to her son, Kate.

After looking at this situation, you are contemplating recommending that she form a limited liability corporation (LLC).
Describe the advantages of each of the following: A sole proprietorship
A limited liability corporation 

Do you recommend that this client choose an LLC or not? Explain your rationale. 

In your own words, please post a response to the Discussion Board and comment on other postings. You will be graded on the quality of your postings.


Grading Criteria
 

25%
 
Describe the advantages of a sole proprietorship.
 

25%
 
Describe the advantages of a limited liability corporation.
 

25%
 
Do you recommend this client for an LLC or not? 
 

25%
 
Explain your rationale.
 

For assistance with your assignment, please use your text, Web resources, and all course materials.

Unit Materials

Unit 4 Course Materials