Wally Is a College Senior with a Business Idea for a Company

question 49

Essay

Wally is a college senior with a business idea for a company to sell over the Internet.Wally has a generous aunt who has given him $10,000 for Christmas every year of his life.Wally has invested this money wisely and thus will not need other owners in his new company.Wally wants to form an LLC for its ease of operation,limited liability,and flow-through tax treatment.Wally is also trying to decide where to live,because he can run this business from anywhere there is a phone line.Discuss Wally's situation.

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Definitions:

Feeler Gauge

A tool made of thin metal strips of varying thicknesses used to measure gap widths, such as in spark plug gaps.

Clearances

The space or gap between two parts, typically measured to ensure proper fit, alignment, or function.

Warpage

Distortion or deformation of a material or component, often caused by uneven heating, cooling, or stress.

Bonds

Financial instruments representing a loan made by an investor to a borrower, often a corporation or government, which pays interest over time and returns the principal at maturity.