Business fundamentals



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Business fundamentals

A Partnership Agreement
Limited Liability Company
One of the newest organizational structures for businesses is limited liability company (LLC). The limited liability structure is considered a hybrid as limited liability companies can be formed as corporations or partnerships. LLCs can provide owners, who are commonly referred to members under this structure, the protection from liability and other obligations similar to a corporation. Limited liability companies can also be set up and managed like partnerships. The taxation of LLCs also depends on its structure. Due to its limited protection, some companies such as banks and insurance companies are restricted from being LLCs
The Corporate Structure
The most complex organizational structure for businesses is the corporation. This type of business structure separates the liabilities and obligations incurred by company operations from being the responsibility of the owners. Corporations are regulated by the laws of the state they are set up in.
Unlike sole proprietor and partnership businesses, corporations are taxed as separate entities at corporate tax rates. The IRS taxes corporation owners at individual tax rates. There are two common types of corporation structures: Subchapter C and S. The different between the two subchapters stem from different tax rules. Ordinary corporations are considered Subchapter C corporations.
Subchapter S corporations, unlike Subchapter C companies, can pass income and losses onto their shareholders to avoid paying federal income taxes. This prevents double taxation of corporation profits
What is a CV?
A CV—short for the Latin “curriculum vitae,” meaning “course of life”—is a detailed document highlighting your professional and academic history. CVs typically include information such as your work experience, along with your achievements, awards, scholarships or grants you’ve earned, coursework, research projects and publications of your work.
A CV is typically two or three pages long, but it’s not unusual for it to be much longer for mid-level or senior job applicants as a CV serves as a full outline of one’s career accomplishments.
3.CVs and Cower Letter
What is a cover letter?
A cover letter is a document sent alongside your CV when applying for jobs. It acts as a personal introduction and helps to sell your application. A cover letter is necessary as it gives you the chance to explain to an employer why you're the best candidate for the job. You do this by highlighting relevant skills and experience; therefore you should always write your cover letter with the position you're applying for in mind.
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