Business

Working for a joint stock carpet interior company is quite harder than I thought. For this company when a new employee is hired for a permanent position with the company, the employee would be asked to open a 403(b) plan in their name. If the new employee decides not to open a 401(b), the company still automatically invests 3 percent of the employee’s earning in each of their bi-weekly paychecks. This is a company’s earnings account for the employee. Because the earning account belongs to the employee, they can choose to manage this account and invest to anywhere they wanted to. Employees are also invested and hold stocks shares of the company’s. After a period of time, employees may roll over their invested money if decided to changed occupations. The carpet interior company could use limited-liability. If anything should happen and the company goes bankrupt, personal investments by the employees would be at stake. Any personal earnings on their paycheck will belong to the employees. In partnership, the best example is a law firm. I believe most law firms are partnerships due to separate licensed attorneys. These attorneys may but money together to start a joint business and work together for higher earnings. As for sole-proprietorship, my local children’s day care would be considerable. This business is ran from their home and is registered with the state to be a day care center. Profits are made by the business owners alone. Most bookkeeping, weekly statements and tax documentations are held responsible under the business owner for filing tax reports.