If the customer does have bad credit then it’s up to you to take the chance and offer your services. It is sometimes not so good to turn down customers due to a bad credit report because it can cause you a chance to blow a great business deal. But also Keep in mind that if they already have a problem with paying bills and if you choose to still do business with them you can set up a payment arrangement to have the bill automatically drafted out of the account every pay period. This way the payment is never late. This is sometimes the best route to go rather you are bad with paying bills or not.
If the business has debt that is unpaid then the creditors could go after the individual. Same is also said if the owner has debts separate from the business debt the creditors could go after the business. As a sole proprietorship business, liability insurance could be purchased to deter this. • Income Taxes- As a sole proprietorship business, a person can avoid the higher taxes that are associated with corporations. A sole proprietorship business can also deduct business expenses just like any other business.
The business "passes through" it's earnings or losses to its partners. All partners pay their prospective share of taxes individually. Partnerships longevity can be short due to the limited availability to funding. Additional funding to a partnership comes from the personal assets of each partner. When partners can't get along and suffer from disagreements the business suffers.
There can be access to justice on personal injury and business disputes. In the case of Thai Trading Co v Taylor [1998] 2 W.L.R. 893, it was held that, provided a solicitor did not charge more than his usual charge out rate in the event of success. Through this way it is easier for people to claim their losses rather than going through the process of legal aid. However this can also have its negative impacts on the community.
One of the biggest issues would be incentives and commissions. Sales representatives would lose some of their commission if they were to take in Company A’s leads whereas Company B, being the originator of the leads, would have a potential for higher commissions. This may cause sales personnel to steal leads from Company A and convert them to Company B leads. This activity would also have to be closely monitored. As for the customer service representatives, they do not get any incentives because they are paid on salary and do the same work as the sales department.
First, if the employee is required to remain on the employer's property, it will constitute employee compensation. This is because the employee's free time is limited while the employee waits to perform work. Second, if the employee is not mandated to remain at work, but their free time is restricted due to on-call restraints, it can require compensation. In Mr. Murphy's case, his freedom while on-call is limited in order to perform SWAT duties if needed. Since Mr. Murphy cannot spend his free time any way he wants, it should be compensated under FLSA regulations.
Information can be shared quickly and easily. Saves time and travel costs.Less bulky than paper records to store. The use of passwords limit access. | Lack of computer skills may restrict communication via computer. Record could be accidently deleted Security could be comprorised | Backing up work in case it is lost | The use of passwords limits access and maintain confidentiality.
- Medicare is not currently in a state of crisis now, but considered and definitive action is needed to avoid an impending funding crisis with respect to the program. - Medicare is funded through taxation of income; any additional funding will have to be derived from cuts in other programs or an increase in the tax rate. - The elderly regard Medicare as insurance, rather than welfare because they spent their working lives paying into the system. This is not an unreasonable viewpoint, and serves to solidify the notion that the population, elderly and otherwise, will not take kindly to substantial cuts in a benefit thought to be an entitlement, rather than a handout. - Whether there should be Medicare at all is a fundamentally moot point.
Though EPAs have their advantages, the community needs more education about the responsibilities that entail being selected so that the risk factors for misuse of this power be reduced. Moreover, the economy, as it is now, does not help to lessen the potential for abuse. In some instances, depending upon the gravity of the economic situation of the selected administrator, he or she may go as far as selling the older person’s assets and properties including the primary
* Expansion: You can’t bring in anybody else into the business. If you decide to expand the business, you’ll have to depend on personal wealth, or loans. Personal loans are hard to get and usually require collateral, and a hefty down payment. Most owners decide to use their personal credit cards. The advantages to a sole proprietorship are, there is no startup cost, and you just simply start collecting money for exchange of services or goods.