Shubhodeep Prasanta Das

Different types of businesses you should know about

The business world is very complex I understand and it’s very unpredictable as well, one day you’re on top and the next you could fall down and have an extreme loss but maybe that’s the thrill of it and also the money that you make. An important part of the business world is investments, there are a lot of people who either want to invest in businesses or start up their very own business and are looking for investments. Not very recently, Shubhodeep Prasanta Das got the board of investment of Thailand to invest into his company and made a big hit out of it, that’s something we should all learn. The good thing about business is that you are never too young or too old to start doing your own thing as long as you can come up with great ideas and have follow up leads on how to execute it, you’ll do good.

Common types of businesses

  • Sole proprietorship.
    • A sole proprietor is someone who is the sole owner of an unincorporated business either by himself or herself.
    • Corporation usually takes after the same deductions as a sole proprietorship in order to figure its taxable income. In special cases, a corporation can also take special deductions.
    • Out of all the types of businesses, this one is quite understandable to everyone. It means that you are owning the company along with a partner, you are not the sole owner of it but that doesn’t mean you and your partner are employees as well. There are different forms of partnership.
  • S corporation.
    • S corporations are corporations that have the upper hand to elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.