Chapter 6 This assignment should only be one page. Part One Using the PowerPoint that I uploaded answer the following question- John has been working as a sole proprietor for several years, and has experienced tremendous success. That success has translated into a significant financial gain. John has also, and very fortunately, won the Pennsylvania lottery. Describe any plan of action you would suggest John should take in light of her recent financial gains. Part Two Please respond to the post below with 3-4 sentences. “First I would suggest that John start aggressively investing his money. Just as fast as money can be spent, money can be earned through investing. Since John has been a sole proprietor it would be safe to say he would not have a decent amount of social security to retire off of, even though he has been successful. Also, since he has been a sole proprietor, medical and dental insurance could be an issue for him, and especially in the future so investing and saving his fortune will help with those costs when they arise. Since John has been so successful as a sole proprietor, I would suggest he keeps doing what he is doing, and not change to an LLC unless something significant had changed. John works alone, and is doing just fine. Why fix what is not broken. There would be tax liability for the lottery earnings, but it would not effect his business until he invested into his business, and at that point there would be tax write offs for the upgrading and the investing into his business.” Part Three For this discussion, please review the following website- justia.com Your discussion post is essentially a “review” of the website. In your review, please summarize the website and indicate how this website could be useful to a paralegal, and for what purpose.
