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Reading Newspaper about Taxes for you in Vietnammese
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<div class="test"><!-- InstanceBeginEditable name="content" --><h2>Starting Your Business</h2>
                      
              <h4>Selecting a Business Structure</h4>
              <p></p>
                    <p><strong>Types of Business Organizations</strong></p>

                    
              <p>When organizing a new business, one of the most important decisions 
                to be made is choosing the structure of a business. Factors influencing 
                your decision about your business organization include: </p>
              <ul>
                      <li>Legal restrictions </li>
                      <li>Liabilities assumed </li>
                      <li>Type of business operation </li>
                      <li>Earnings distribution </li>

                      <li>Capital needs </li>
                      <li>Number of employees </li>
                      <li>Tax advantages or disadvantages </li>
                      <li>Length of business operation</li>
              </ul>
                    <p>The advantages and disadvantages of 
                      sole proprietorship, partnership and corporation are listed 
                      below.<br>

                    </p>
                    <p><b>Sole Proprietorships</b></p>
                    <p>A sole proprietorship is an unincorporated business that
                      is owned by one individual. It is the simplest form of
                      business organization to start and maintain. The business
                      has no existence apart from you, the owner. Its liabilities
                      are your personal liabilities and you undertake the risks
                      of the business for all assets owned, whether or not used
                      in the business. You include the income and expenses of
                    the business on your own tax return.</p>
                    <p>
                          <br />
              <b>Partnerships</b></p>
              <p>A partnership is the relationship existing between two or more
                persons who join to carry on a trade or business. Each person
                contributes money, property, labor, or skill, and expects to
              share in the profits and losses of the business.</p>
              <p>A partnership
                  must file an annual information return to report the income,
                  deductions, gains, losses, etc., from its operations,
                  but it does not pay income tax. Instead, it passes through
                any profits or losses to its partners. Each partner includes
                his
              or her share of the partnership's items on his or her tax return.</p>
              

              <p><b>Corporations</b></p>
                    <p>In forming a corporation, prospective shareholders transfer
                      money, property, or both, for the corporation's capital
                      stock. A corporation generally takes the same deductions
                      as a sole proprietorship to figure its taxable income.
              A corporation can also take special deductions.</p>
                    <p>The profit of a corporation is taxed to the corporation
                        when earned, and then is taxed to the shareholders when
                        distributed as dividends. However, shareholders cannot
                deduct any loss of the corporation.</p>
                   
                    <p> <strong>S Corporations</strong></p>

                    <p>An eligible domestic corporation can avoid
                        double taxation (once to the corporation and again to
                      the shareholders)
                            by electing to be treated as an S corporation. An
                      S corporation generally is exempt from federal income
                            tax other than
                            tax on certain capital gains and passive income.
                      Its shareholders include on their tax returns their share
                            of the corporation's
                            separately stated items of income, deduction, loss,
                            and credit, and their share of nonseparately stated
                            income
                    or loss. </p>
                    <p> For more information
                      on S corporations, see the <a href="pdfs/i2553.pdf" target="_blank">Instructions
                              for Form 2553, Election by a Small Business Corporation</a>,
                              and <a href="pdfs/f1120s.pdf" target="_blank">Form
                    1120S, U.S. Income Tax Return for an S Corporation</a>.</p>
                   
                    <p><strong>Limited
                    Liability Company</strong></p>

                    <p>A limited liability company
                        (LLC) is an entity formed under state law by filing articles
                        of
                                  organization as an LLC.
                                  None of the members of an LLC are personally
                                  liable for its debts. An LLC may be classified
                                  for federal
                                  income
                                  tax purposes as either a partnership, a corporation,
                                  or an entity disregarded as an entity separate
                                  from
                                  its owner
                                  by applying the rules in regulations section
                                  301.7701-3. See the instructions for <a href="pdfs/f8832.pdf" target="_blank">Form
                                  8832, Entity Classification
                                  Election</a>,
                    for more details.</p>
                   
                    




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