In this hour you will learn about…
- Sole proprietors
- S Corporations
- Limited Liability Companies
The basics of bookkeeping you have learned so far will not change. These standard procedures can be adapted to suit the needs of any company. What may be different is the way the business entity has been created and structured. In this chapter, we will discuss the different types of business entities and how the initial formation and structure of the business determines how it will operate and how it will be recognized and taxed by the U.S. government.
As a bookkeeper, you will not be required to file income tax returns, but you will be responsible for providing a great deal of the information ...