Business Plan For Cake Dash - 1411 Words

With careful consideration and review of the company’s needs, it is my recommendation that Cake Dash proceed with the following business plan. Cake Dash should formally conduct business as an LLC as it has low risk with optimal tax benefits. Future liabilities are outlined for current, long term and estimated liabilities so as to correctly categorize and document them. For its capital expenditure purchases Cake Dash should use the units of production method as it best fits the needs of the anticipated fluctuating nature of the business. Many factors were taken into account when making this determination. These factors include the individual needs of the business in terms of taxes, liabilities, employees, expenses, and nature of the†¦show more content†¦An LLC however allows for the business to be recognized because it requires special paperwork to be filed annually with the state government, in order to operate. Additionally, there is also less risk involved. Cake Das h would be treated as its own separate entity in terms of its debts. This means that if for any reason Cake Dash was unable to meet its financial obligations the owner would not be personally liable for them. The owner would only be held personally liable if a case arose in which the negative action would not have occurred had it not been for the owners’ actions. This would be in cases such as fraudulent or illegal actions taken by the owner, or if the owner pierced the corporate veil and used the company to pay for personal expenses. Aside from these particular situations the owner is able to operate without concern of being personally sued. Given that the owner of Cake Dash is concerned with taxes and liability, an LLC seems like the optimal choice for establishing the business under. Once Cake Dash has set itself up as an LLC it will take on both current and long term liabilities which will need to be correctly accounted for. Current liabilities are obligations that are owed within one year. Since Cake Dash will be employing two employees whom they will pay throughout the year this willShow MoreRelatedThe Secret Of The Kitchen Essay2085 Words   |  9 Pageslast of the cookies is in the closet and the last part of humus in the refrigerator. To keep your kitchen, you must have a constant plan weekly food shopping. Is not it funny how we plan our week s work, our vacations, our family obligations, but somehow, they completely avoid planning in the time to shop and cook? Here are the basics for making a food purchase plan that makes it accessible even to cook during the week. 1. Create a shopping list by hand or machine. Make a list of all the staplesRead MoreThoughts on a Family Vacation1831 Words   |  8 Pagesand cement our family relationships a motivation to expend time and resources on a vacation. Studies have sought to explain the why we are willing to splurge on a holiday. 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