Legal Guide to Starting and Running a Small Business - 40 CPE Hours (BUS225)
· Explain how small business owners decide which way to organize their business.
· Define a sole proprietorship.
· Explain the difference between flow-through taxation and entity taxation.
· Explain the differences between C corporations and S corporations.
· Describe how a flexible management structure works in an LLC.
· Explain how to create a partnership agreement and the necessary component of such an agreement.
· Explain how a corporation is structured.
· Describe the 3 main ways a person can fund a corporation.
· List the 12 steps to incorporate.
· Describe the 2 ways in which assets come into an LLC.
· Define articles of organization.
· Explain what can happen if there is no buyout agreement.
· Describe the 2 major tax registrations every owner should know.
· Describe some of the possible local license and permit requirements.
· Explain how to apply for an EIN.
· Describe the differences between straight-line depreciation and accelerated depreciation.
· Explain the 13 most common sources of money that entrepreneurs tend to rely on.
· Describe the advantage of having a broker value your business before selling it.
· Define a franchise.
· Explain how to determine what insurance to have for your business and the amount to buy.
· Describe the differing clauses that are placed within lease agreements.
· Explain some of the unlawful preemployment inquiries.
· Explain how to keep advertising within safe, legal limits.
· Define a small business contract.
· Explain the advantages of having small business contracts.
Program Level: Basic Prerequisites: None
Advanced Preparation: None Instructional Method: This program is a QAS Self Study offering. Field of Study: Business Law
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