There are no specific features to explain rather I will elaborate benefits available to it…Quick decision making.Easy to run business without official interference.Banking is easy and time savings.No special registration required other than shop act or udyog aadhar.Single entry Accounting method can be used and justified.Income tax benefits such as slab rate is available.Income tax deductions are available for tax savings.Easy to close the business.
13 British colonies?
The American Revolution refers to the period during the last half of the 18th century in which the Thirteen Colonies that became the United States of America gained independence from the British Empire. The revolutionary era began in 1763, when the military threat to the colonies from France ended and Britain imposed a series of taxes which the colonists considered to be illegal. After protests in Boston the British sent combat troops; the Americans mobilized their militia and fighting broke out in 1775. Although Loyalists were about 15-20% of the population, the Patriots usually controlled 80-90% of the territory, for the British could only hold a few coastal cities. The height of the Revolution came in 1776, with the unanimous Declaration of Independence by the 13 states which formed the United States of America. The Americans formed an alliance with France in 1778 that evened the military and naval strengths. Two main British armies were captured at Saratoga in 1777 and Yorktown in 1781, leading to peace with the Treaty of Paris in 1783, with the recognition of the United States as an independent nation bounded by British Canada on the north, Spanish Florida on the south, and the Mississippi River on the west. here is some info on the states The Thirteen Colonies were British colonies in North America founded between 1607 (Virginia), and 1732 (Georgia). Although Britain held a dozen additional colonies in North America and the West Indies, the colonies referred to as the "thirteen" are those that rebelled against British rule in 1775. (The seven other British colonies in North America did not join the rebellion.) The 13 formed a national government under the Second Continental Congress, called themselves "The United Colonies," and formally proclaimed their independence as the United States of America on July 4, 1776--which political scientists call, "The First New Nation." Good luck Tell me if I was right!
A sole proprietorship, additionally called sole trader or without a doubt a proprietorship, is a form of organisation that is owned and run via one natural person and in which there may be no felony distinction among the owner and the commercial enterprise entity.Features Of Sole Trading Concern are-Individual management and controlIn sole trading concern, the owner himself organizes, manages and controls the commercial enterprise consistent with his willingness. all the management associated with enterprise and all controlling jobs are done by way of only one proprietor.individual ownership:A sole proprietorship is completely owned by using one individual. The person substances the whole capital from which his personal wealth or from borrowed price range.Unlimited liabilityowner is responsible for all of the money owed of the business. In case the property are insufficient to fulfill the debts, the personal property of the proprietor may be attached.Earnings and lossesin this company if the business flourishes or it receives income, the proprietor himself receives the entire earnings and if he does no longer do properly, be bears the whole loss.No legal entity:A sole proprietorship has no prison entity become independent from its owner. The regulation makes no distinction between the proprietor and the commercial enterprise. The property and liabilities of the business and its owner aren't distinct.Undivided riskin this firm, the proprietor bears all the dangers related with commercial enterprise due to the fact he's the simple proprietor, manager and controller.Small lengththe size of operation carried out by using sole proprietor is typically small.Wealth It Global | Investment Planner for wealth management
Address of business bank account & company's registration address?
Usually not. This is one of the red flags that state department of revenues, IRS and corporate state regulators do not like. Many states will require a change of address. Unless you have very good reasons, just send it to the business address. In fact, many banks when you open a corporate account will ask to see your incorporation papers and are unlikely to allow you to open it with a different address because they don't want to get in trouble either. To be on the safe side, you want to look up your state's regulations regarding this matter and also ask the bank what they recommend. And I hope you are using a regional bank and not something like Bank of America. In our state, one is not allowed to use an accountant's office as the legal business address; the legal business office is where the actual business is conducted. A lot of this is specific from state to state, so the best answer is to look at your state's Secretary of Treasurer's office and get a general background and then call them with specific questions.
Whats the difference between company law and corporate laws?
A company is a non-specific form of business enterprise. A corporation is a business entity formed under by-laws, comprised of stockholders, registered in states and governed by specific laws. Your term "corporate laws" is too vague to answer properly. Do you mean state laws governing corporations, or federal securities laws, or the laws of individual corporations? Not sure what you mean by company law - every business has its rules and regulations, whether they are sole proprietorships, partnerships, LLCs or whatever.
The sole proprietor can, of course. But so can anyone else with actual or apparent authority. Because the sole proprietor can argue that no one else had authority, the best practice is require the sole proprietor to sign directly.Apparent authority can be a bit tricky. Consider a hypothetical bread salesperson who one day stops at a restaurant named “Amir’s”. The salesperson goes through the kitchen door, meets with the chef, Miguel, and convinces Miguel to buy some bread. Miguel pays with cash from the register. The next day, the salesperson returns and hopes to sell some more bread. Instead, he finds an angry Amir who says that Miguel had no authority to buy the bread and Amir wants a full refund.Legally, Amir will probably lose. Miguel had control the kitchen and access to the cash register. He had the apparent authority to buy food. That Amir didn’t approve the purchase is Amir’s problem. The salesperson had no reasonable way to knowing that Miguel was exceeding the authority granted by Amir.The outcome would be different, however, if the salesperson was selling electron microscopes. Miguel’s control of the kitchen and access to the cash register become irrelevant. An electron microscope is not an item typically purchased by a chef for professional use.When in doubt about someone’s authority, ensure the sole proprietor signs. For more detailed information, consult an attorney in your area.
Difference between enterprise, trading and etc...?
For the best answers, search on this site https://smarturl.im/aD3SQ It's funny how people throw these terms around, but when you ask them to define them, they can't. Free enterprise (capitalism) is where people have the freedom to get into any business they like, where they think they can make money. If you want to make clothes or cars or computers, you can get investors together, rent a factory, buy raw materials and go into production. People can buy your things or someone else's things. So you have an incentive to make them better or cheaper. You invest money and you can make money or lose money. The 'market' decides, i.e. the buying public. Socialism is where the government provides services or products. Usually the market is not free, or else private entrepreneurs have to compete with a 'public' company. This provides more goods and services to people who need them but can't afford them, and protects the producers from risking their own money. But capitalism and socialism, neither are found in their pure state. Every developed country is some combination of both. For instance, we in the US are probably the most capitalist country, but we have socialized police and fire protection, roads and bridges, public health, education, etc. etc. because we've just found this is the best way to supply these things. Communism is a particular variety of socialism. Under communism you have a 'command economy'. The government decides just who will make cars or computers, and how many over what period of time. The whole economy is -planned- rather than being left up to the market. There are advantages and disadvantages to this system. It's pretty clear that Communism has never really worked, but you have to consider that every place Communism has been tried has been a place that never had a tradition of democracy or free market economy to begin with. So people in these countries (Russia, Cuba, China, Vietnam, etc.) have only traded one set of despots for another. But it's also true that 'free market' capitalism has never actually been tried, it's just an 'ideal'. Capitalism leads to governments colluding with powerful corporations and using regulation give these big corporations an advantage in the marketplace. The problem with the free market is that it requires a certain amount of government regulation to keep it free. Where you have competition you have winners, and where you have clear winners, you no longer have competition.
From an accountant with appropriate expertise, or possibly accountants in both countries.In general, double taxation shouldn’t be a problem (at least pre-Brexit). As a sole trader, you would generally pay income tax on your profits in your place of residence. The business has no legal existence separate from you, and you would need to comply with whatever requirements your national authorities have to trade as self-employed, which might well include registration for VAT, appropriate qualifications, etc.Other aspects, VAT in particular, depend on the nature of the business. Are you selling goods or providing services, and are you trading with consumers or with businesses? Does the nature of the business require special registration or permits from British authorities?If you are providing services remotely (e.g. as I do, doing translations for clients in other countries which are sent over the internet), there are fairly arcane rules on the place in which the transaction is deemed to take place. If the clients are VAT-registered businesses, and the transaction is considered to be in the UK, then you invoice them without VAT, quoting their VAT number and possibly a standard note, and they deal with it under the reverse charging system.For other situations where you have to charge UK VAT (e.g. selling goods in the UK) you may be required to register with the British VAT authorities for a UK VAT number, charge your customers VAT at UK rates, and make a return and pay it to the UK authorities, separately from your domestic VAT arrangements (where you will probably be able to claim VAT back on your expenses.For small businesses selling in other EU countries the more likely route is however the VATMOSS system. Read up on it.Double taxation would only be likely to be an issue if you set up a separate entity (probably a limited company which are very easy to set up here) in the UK to conduct the business - it would be subject to UK corporation tax on its profits and it would depend on your own national tax system how income tax and social contributions on any money it paid to you as wages (offset against corporation tax) or dividends (not offset) are handled. At that point, you need an accountant anyway.Tax on your UK income if you live abroad