One tax advantage of an LLC is that members are able to decide how they are taxed, since an LLC isn't classified as a separate entity, says Christina Dixon of RocketLawyer. A disadvantage is that members pay self-employment tax if they decide not to file as a corporation.
The primary advantages of an LLC, or Limited Liability Company, revolve around its liability protections, flexible profit sharing and marginal record keeping relative to other business formations. Also, the personal assets of LLC members are not subject to the actions or business decisions of the LL
There are many advantages and disadvantages to a progressive tax. The arguments for a progressive tax emphasize the way it allows government to raise greater revenue without overburdening low-income members of society. Detractors of a progressive tax assert that the policy discourages people's entry
A value-added tax, or VAT, has the advantage of offering an efficient way to raise funds for government programs from a broad taxpayer base. Its primary disadvantage is the effect such costs ultimately have on the consumer. According to the New York Times, VATs are used in every developing country o
Computers are a wonderful, modern convenience. They make writing easier, banking more convenient and schools, offices and factories more efficient. There are, however, disadvantages to using computers, such as loss of jobs, academic dishonesty, theft and invasion of privacy.
The advantages of accounting include evaluating an entity's financial performance, tracking its progress and reporting the figures to its stakeholders. Disadvantages of accounting include complex rules and sometimes arbitrary or conflicting accounting standards. Regardless of its pros and cons, acco
The primary advantage of specialization is that a business or worker can build a reputation for expertise in a given area. A major drawback is that specialization limits opportunities to develop in other areas, which is challenging when demand for the specialization wanes.
Licensing establishes businesses and individuals as reliable and trustworthy but leaves them subject to regulations and with little control over markets and even personal conduct. Licenses afford businesses and individuals some degree of legal protection by ensuring that their ideas and products are
According to Dr. Dianne Berman of Santa Monica College, the advantages of federalism include the ability to experiment with policy, empowerment of local government, opportunities for direct democracy and decentralization of power. The disadvantages of federalism include conflict between regional and
According to Use of Technology, the advantages of technology include access to information, improved communication, improved entertainment, educational convenience, social networking and advancements within various industries. Disadvantages of technology include increased loneliness, potential addic