The end of this for now.

Well, I have recently decided to change my career path and education. I've decided to go into the medical field and try to become a Physical Therapist. The classes I took while learning business, however, did nothing but benefit me. However, at the same time, I feel that I can't really continue to post on this since I'm now dedicating myself to a blog about health and fitness. If you'd like to check out my blog relating physical fitness and health feel free to visit us at the link listed below or click on the banner above.

If I do intend to re-open this blog again sometime in the future, I will more than likely do it on an actual domain name. I will make sure however, to inform all of you on this particular site before that happens, if it does.

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Been on vacation

Hey everyone, I've been on vacation the past couple of weeks. But I'm back in business again. Sorry for the inconsistency. I'll make sure to keep up with everything from now on.

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What is a LLC Business?

So I'm sure a lot of people here have heard the term, "LLC Business". But a lot of people have no idea as to what the "LLC" part even means. LLC means limited liability company.

In this type of business venture, there are like all others, the advantages and disadvantages. However, I'm going to discuss those in the next few days of updates. For now, let us concentrate exactly on what a limited liability company stands for.

Although a LLC is not in any way, shape, or form a corporation or partnership type of business, it does take a few characteristics from both.

Now in a corporation type of business, usually they give out shares to generate some type of income for start-up of their business. As well as partnerships normally contain two separate owners, or partners, in the business. A LLC type of business is a little different however.

They classify their owners as "members" instead of partners or shareholders. Also the amount of members, or owners, is not limited in a LLC business. This can be a huge advantage or a huge disadvantage depending on how you play your cards.

One of the main purposes of opening a LLC business however is to limit the amount of risk an owner takes when starting a business. Filing taxes with an LLC however can be a little bit more tricky than your average sole proprietorship tax filings.

In a few days I will post, both, the advantages and disadvantages of owning a LLC type of business.

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Updates for JB Media

So, I figured I'd update all my readers with what's going to be happening in the next few days with me and the blog itself. I'm making a trip over to Orlando, Florida to see some old friends of mine. So I won't be able to post for the next few days, but I should be back with a new fresh update on Saturday or Sunday.

Also I was thinking from now on, every Friday, I will be posting a news topic about what I feel is the most important news going around in the business world as of now. So I hope you all will like this little add on I'll soon be incorporating into the blog. If anyone doesn't like this idea, please feel free to leave me a comment and let me know. After all, I do want to please my readers.

On that note, I'll catch you all around on Saturday or Sunday with another business tips post!

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Disadvantages of Sole Proprietorship Businesses

Disadvantages of Sole Proprietorship:

Well, as there are advantages of owning your own sole proprietorship business, there are also disadvantages. My previous post stated the main advantages of having a sole proprietorship. So now, let us discuss some of the main disadvantages.

1. Some people want their business to continue on, even if something was to randomly happen to them. As we all know, life takes mysterious turns when least expected. In a sole proprietorship business, if the owner of the entity dies, so does the business.

2. As a sole proprietor, you do have the ability to borrow funds. However, since you are a sole proprietor, the funds that will be available for you to borrow can be limited. This is because in sole proprietorship's, unlike other types of businesses, the amount you can borrow is fully limited based on the owner's personal finances. A lot of times, when people are starting their own business from scratch, they might not exactly have the best credit or finances. This can be a major draw back in owning a sole proprietor type of business.

3. Seeing how a sole proprietorship business is not a type of partnership or corporation, all legal issues that the business faces are direct to and only to the owner of the business. For a lot of people, this one thing turns them off the idea of starting up a sole proprietorship. But let's be honest, if you're having fear of legal problems before your business has even started, it's most likely not an ethical idea.

4. Another disadvantage is the fact that benefits such as health care premiums are not fully deductible from your taxes. In other words, you will NOT get reimbursed for all your health care costs that are associated with your business. That's just the way it is.

Now that I've laid out some basic disadvantages of owning a sole proprietorship business, hopefully you can piece the two posts, this and the previous one, together to figure out if a sole proprietorship is the right type of business for you.

Weigh out the advantages and disadvantages, which one seems to come on top for you?
Hope this helps some of you inspiring entrepreneurs out there!

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Advantages of Sole Proprietorship Businesses

Sole Proprietorship Advantages:

So, many of you out there might be considering on opening up your own sole proprietorship type business. With any type of business you start out, there will be advantages and disadvantages. So let us go over the basic advantages of this particular business, sole proprietorship.

1. You are your own boss. Always and forever. What exactly does this mean? You call the shots when it comes to decision making in your business. If something succeeds, you can credit yourself and pat yourself on the back. At the same time though, if you fail at something, the blame is on no one else other than yourself. Also with you being your own boss, you get to choose your hours. That's particularly one of my favorite parts of being my own boss!

2. Sole proprietorship's are the least expensive business to set up. That's right! Not only are the least expensive type of business that you could start up, but it's also the easiest regarding things such as paper work and taxes.

Keep in mind, all profits you earn from a sole proprietorship business are yours. Therefore, you'll need to file those profits on your normal tax form every year.

3. Since you're the complete owner of your business in a sole proprietorship, all the money you earn goes directly to you. No one else! How great does that sound? It's like music to my ears at least. Keep in mind, however, if you have employees that you've hired then there will be a cut in your profits. The cool part however though is with the money you earn from your business, you can do what you please with it. My tip of advise would be to reinvest it into the business as long as sales/services are doing well for you.

4. Last but not least, another great advantage of a sole proprietorship business is the fact that you can pretty much quit the business when you please. There are certain things you'll need to do in order to completely disband your business all together. However, this type of business is the easiest to do so if things "just aren't working out for you."

The next post I'm going to spiel out the main disadvantages of owning a sole proprietorship business. As I've said earlier, all businesses have their advantages and disadvantages. You have to outweigh them yourselves to decide which is truly the best type of business for you and your needs!

Stay tuned!

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Back to Business!

Well everyone, I want to apologize for not being active with my blog over the past couple of months. I'm going to be updating it regularly from now on though. I'm still going to be bringing you all great business and marketing tips. Now I think I'll also throw a little something else into the mix by bringing you some important business news as well. 

I hope my readers aren't to dissapointed with me for my lack of motivation in the past to keep this going. But I am here to reassure you that things are going to change. I hope you all enjoy my future postings.

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