The Ultimate Guide to Sole Proprietorship

If you have ever set up a business on your own such as Cape Coral Towing, you probably know sole proprietorship is so common because they are very easy to set up. If you are operating an incorporated business and you are the only owner, you automatically qualify to be a sole proprietor. When it comes to this form of business ownership, there are both advantages and disadvantages of running a sole proprietorship. Not every business will be well suited for this form of incorporation, as we shall discuss.

 

What is a sole proprietorship

A sole proprietorship is a form of incorporated business that is owned by one person. Data from the IRS show at least 70 percent of small businesses are organized as a sole proprietorship. With a sole proprietorship, you are not required to file formation papers with the state, as you are required to do with limited liability companies. If you are running a business on your own and you have not registered it, then its sole proprietorship. However, you will still be required to obtain a business license and permits to comply with local laws.

Examples of some sole proprietorship businesses include; freelancing, consultancy, bookkeeping, virtual assistant, and home-based business owners.

Here are some advantages to why you may decide to settle on sole proprietorship.

 

The initial setup is fast

It is quick and very easy to set up a sole proprietorship. There is no need to register or incorporate your business with the state. All you need is to obtain business licenses and permits, with permits such as zoning permits, sales tax permits, etc., expected. It is all that your state or local government requires. Additionally, you will be required to operate your business under a trading name for legality.

 

Few legal requirements

There will be few ongoing legal requirements. After you have set up your shop, things remain pretty easy for sole proprietorship as from a paper standpoint. This is the reason freelancers, consultants, and those offering their professional skills find it easy to operate a sole proprietorship. Additionally, it is very easy to maintain such incorporation. You will have complete control over business decisions and priorities. There will be no form of conflict between partners, as that is one of the leading causes of business failure.

 

It has to be noted that a sole proprietorship comes with its fair share of disadvantages as well. You will face unlimited personal liability for business debts and lawsuits. This is one of the biggest drawbacks of a sole proprietorship. There is no clear distinction between a sole proprietor and their business. A sole proprietor is personally liable for their business debts and obligations. This means creditors and those claiming anything legal can go after their assets to get their money.

Another disadvantage is that sole proprietorship taxes are higher. This will also be dictated by the type of industry they decide to participate in. There is also a very high likelihood of burnout. Additionally, they also lack a clear succession plan.

Top Reasons to Visit Thailand This Year

Beaches in ThailandHave you ever thought of visiting Thailand in your next vacation? If not, then you need to think again. A visit to Thailand would without a doubt make you experience the same feeling of happiness and satisfaction as you would experience while riding a limo. In the year 2017, more than 40 million tourists visited this Southeast Asian country. The country has established itself as a must-visit destination and here are some of the reasons.   Continue reading

A Nightlife Experience in Thailand

Nightlife In ThailandThailand is unique with a mixture of romance, exoticism, excitement and a sense of adventure. Anyone who has not been to Thailand upon visit gets excited by the Go-go bars and the sleek massage parlors. Additionally, this country has beautiful traditional dancers and the lively culinary scene with lively bars and nightclubs. The Bangkok nightlife is well-known for all good reasons. The city is ever buzzing 24/7 with both world mega clubs and also underground haunts that are close to each other.

 

Nightlife in Bangkok

Over the years, nightlife in Bangkok has evolved with a lot of emphasis being placed on swanky rooftop bars, hip cocktail bars, and lively nightclubs. The center of attraction is at Khao San Road which is full of life. Along the Thonglor, trendy new bars are opening every week.  Party revelers in Bangkok are spoilt for choices. There are those who prefer to get too big places such as Sukhumvit and Silom while others are flocking to superclubs such as RCA.

Apart from just talking about partying in the capital, today we want to present you with something different, and that is party islands. Thailand is famous for its party islands and here are the leading ones.

 

Koh Phangan

Koh Phangan is home to full moon party offering one of the best party experiences you can imagine of.  Koh Phangan is comprised of white sandy beaches, lively bars, palm trees, clubs and a lot of alcohol. The full moon parties run all year round and comprise of 12 major sound systems with up to 30,000 people, a couple of DJs and a variety of drinks to choose from.

 

Koh Samui

Full moon partyKoh Samui can be found in the Gulf of Thailand and is among the most favorite destination for young travelers and students. There are many impressive beaches to choose from, with Chaweng Beach standing out among the many we have at this location. Koh Samui plays host to its version of full moon parties. While at this place, be sure to check out at Soi Green Mango, Q Bar, and the Ark Bar.

 

Phuket

Phuket is among the largest Islands Thailand has. It is located along Thailand’s west coast in the Andaman Sea. For many years, Phuket has always proclaimed itself as a top spot for party goers. It is a perfect hangout point for those who enjoy staying out through the dawn hours preferably to nurse their hangovers under palm trees.

How to Spend a Day Trip in Bangkok

grand palaceBangkok is not a city that opens itself up quickly. Most people spend a day or two at this city before leaving to go to the islands of the jungle. Bangkok may not have a lot of tourists as compared to leading cities such as Paris, New York City, London, and Buenos Aires. However, the city of Bangkok presents a different experience. The city is more than a few days worth of temples and other activities.

We have drawn up an itinerary lasting for three days, to help beginners and even experienced travelers decide on where to go and activities to undertake on their tour to Bangkok. Continue reading

Great Places to Go Shopping in Bangkok

platinumThe vast span of shopping experiences in Bangkok goes far beyond taking a stroll in a mall or spending some time browsing a market. Shopping in Bangkok is a massive undertaking that spans day and night while giving a flavor of the cultural uniqueness that the East presents. Bangkok is one of the largest shopping centers in the world. It presents a combination of huge luxurious shopping centers with chick international and Asian fashion designs. Apart from these malls, once you pop up in the streets, you can find all sorts of cool and cheap stuff. Continue reading

Best Ways to Get Around Thailand

bangkok trafficTraveling around Thailand is inexpensive and efficient. Unless you are traveling by plane, long distance journeys can be arduous, especially if you are on a shoestring budget that restricts your hard seat to lack air conditioning. Not all transportation options are equal when it comes to hassle and pricing. You will find different transportation options in Thailand. Bangkok is full of different options, from the modern Skytrain systems to tuk tuks. While the city may at times experience a snail speed traffic, the rural areas have good roads and convenient traffic.

You should be flexible to hop a tuk tuk, taxi, subway, bus, ferry, train or a plane, that would work best to getting you to your destination. US citizens don’t need an advance visa to enter Thailand. You only need to be in possession of a passport that is valid for at least six months.

Flying to and Around Thailand

Bangkok is an excellent Southeast Asia hub that is served by more than 70 different airlines. The chances are that you will land in Bangkok’s Suvarnabhumi INternational Airport. However, other landing options include Chiang Mai (CNX), Phuket (HKT), Koh Samui (USM) and HAT Yai (HDY). A couple of domestic airports serve commercial passengers, and to reach them; you will need to travel through one of these major airports.

Renting a Car

thailand carAnother efficient way to get around Thailand is to hire a car from car renting companies. To have the best car experience, hire a driver to take you around. We would not recommend getting behind the wheel in the congested cities of Bangkok or Chiang Mia. Navigating these towns can be a big hassle. In the case of unfortunate car issues or breakdown, getting a towing company to offer quality services to the same scale and quality such as those of https://abingdontowtruck.com/ can be a big hassle. Beware that Thais drive British style, on the left-hand side of the road, with the driver sitting on the right-hand side of the car.

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Water Activities and Games to Try in Thailand

scuba divingIf you thought tow truck activities are challenging, then think again and wait until you get to Thailand. For a double dose of adrenaline rush and a chance to conquer your fears, all the dare devils aspire to find themselves in Thailand. Thailand is surrounded by many islands with warm tropical waters making it a paradise for water sports lovers. It is a country well known for scuba diving and other water activities such as kite surfing and kayaking. Continue reading

Most Beautiful Places to Visit in Thailand

thailandIt is not any secret that Thailand is one of the most popular and highly visited destinations in the world. With palm trees, sand beaches, tropical forests and mist-covered mountains, Thailand is a stunning country that deserves your visit. This country is a collage of spectacular scenes that make bustling modern cities. There are lush landscapes, a variety of handicrafts, Buddhist temples, orange-robed monks and stunning coastlines that define what the country stands for, regarding tourism.

For many cultural travelers, this country is full of ancient temples, beautiful palaces, and glittering spires. The palm-studded beaches with idyllic bays and islands provide an ideal place to rejuvenate. Thailand has many unique destinations that can take you a long time to see all. The country caters for all types of travelers and budgets. There are pristine islands, ancient ruins, national parks and modern cities that are worth your time.

Let us explore some of these places that deserve to be added to your bucket list, when determining on where to tour next.

Damnoen Saduak Floating Market

Markets in Thailand are exciting, lively and play a significant part of the local culture. You can experience the flurry and sensations of a floating market from a long-tail boat making it an important means of spending your day. At about an hour drive from Bangkok, sits Damnoen Saduak Floating Market a top tourist attraction.

The market is fully functional complete with souvenirs, food, clothing and fresh produce. You can hire a private car, a taxi or a limo service to take you to this place during your visit to Bangkok. At this market, you can be served with delicious dishes including breakfast. Vendors sell spring rolls, coconut packages, noodle bowls and fresh fruits.

The Grand Palace

grand palace.jpgThe Grand Palace destination is among the most important and highly visited places in the city. It plays home to a generation of Thai Kings. The palace is now used for special ceremonies and related activities. The palace was originally built in the 18th century when Thailand’s capital was moved from Thonburi to Bangkok. During the reigns of subsequent Thai monarchs, additional buildings were added to now represent an interesting mix of different architectural designs.

Ayutthaya Historical Park

Ayutthaya is a fascinating historical park and a UNESCO World Heritage Site. You can access this park after a one-hour drive from Bangkok, making it an easy and refreshing day trip out of the city. Ayutthaya was the second capital of Thailand between 1350 and 1767 until the Burmese destroyed it. The Burmese forces destroyed the city and burned sacred shrines, Buddha statues, and chedis. Today, Ayutthaya form noble archeological parks that are worth your visit. There are different palaces, magnificent temples and Buddha statues that make the region a top tourist destination.

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Awesome Things You Can See and Do in Thailand

chiang maiThailand is a world famous attraction and has been documented in a lot of sources. It is a country that has been used as a backdrop in several Hollywood movies and crops a lot in modern fiction. There are many activities to do for visitors looking forward to touring this country. You can witness the Grand Palace or watch the Railey Beach sunset. Better still you can experience some adrenaline rush when approaching Phi Phi Don. You can visit the north of Thailand in Chiang Mai or go to the lush southern provinces of Krabi and be charmed by the raw beauty. Continue reading

Where to Go For Adventure in Rural Thailand

sakhraiYou can enjoy Thailand from top to bottom in your next Thai tour. The Thailand’s Isaan region is one of the less visited parts of the country. The area is vastly rural, and travelers pass through it on their way to Laos. Many skip Isaan in favor of Chiang Mai and Pai, mostly because there is no much information detailing where to visit in these rural areas. Isaan primarily comprises of farms and villages. These villages are architecturally inspiring, with spicy and delicious foods and welcoming people.

If you want to get the undiluted Thai experience, be sure to visit these places; Continue reading