The Pros And Cons Of Flat Tax In America

Saturday, January 15, 2022 11:04:21 PM

The Pros And Cons Of Flat Tax In America

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Who wins, who loses with a ‘flat tax’?

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In amidst an outpouring of frustration and blame directed at Wall Street the issue of corporate contributions came before the court again. FEC the court said there was virtually no distinction between monetary contributions and political speech, and because we do not limit political speech unless it is tantamount to bribery, corporations have the right as people to donate unlimited amounts of money to any political cause so long as it is not to a direct campaign. The articles of incorporation also called a charter , certificate of incorporation or letters patent are filed with the appropriate state office, listing the purpose of the corporation, its principal place of business and the number and type of shares of stock.

A corporate name is generally made up of three parts: "distinctive element", "descriptive element", and a legal ending. All corporations must have a distinctive element, and in most filing jurisdictions, a legal ending to their names. Some corporations choose not to have a descriptive element. In the name "Tiger Computers, Inc. The legal ending indicates that it is in fact a legal corporation and not just a business registration or partnership. Incorporated, limited , and corporation, or their respective abbreviations Inc. Usually, there are also corporate bylaws which must be filed with the state. Bylaws outline a number of important administrative details such as when annual shareholder meetings will be held, who can vote and the manner in which shareholders will be notified if there is need for an additional "special" meeting.

Assuming a corporation has not sold stock to the public, conducting corporate business is straightforward. Often, it amounts to recording key corporate decisions for example, borrowing money or buying real estate and holding an annual meeting. These formalities can often be supplanted by written agreement and do not usually need a face-to-face meeting. In the UK, the process of incorporation is generally called company formation. The United Kingdom is one of the quickest locations to incorporate, with a fully electronic process and a very fast turnaround by the national registrar of companies, the Companies House.

The current Companies House record is five minutes to vet and issue a certificate of incorporation for an electronic application. In Canada , the process of incorporation can be done either at the federal or provincial level. Companies which incorporate with the federal government will generally need to register extra-provincially in the province that they elect to do business. Similarly, a provincial corporation may need to register extra-provincially if they are to have offices outside of their home province. Incorporated Canadian companies can generally use either Corp.

F in their name, but this may vary from province to province. Note that there are two government structures operating within Canada. From Wikipedia, the free encyclopedia. Legal process to create a new corporation. This article has multiple issues. Please help to improve it or discuss these issues on the talk page. Learn how and when to remove these template messages. This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. This article contains content that is written like an advertisement. Please help improve it by removing promotional content and inappropriate external links , and by adding encyclopedic content written from a neutral point of view.

October Learn how and when to remove this template message. This article possibly contains original research. Please improve it by verifying the claims made and adding inline citations. Statements consisting only of original research should be removed. By jurisdiction. General corporate forms. Corporate forms by jurisdiction. Naamloze vennootschap N. Business judgment rule Corporate governance De facto and estoppel corporations Internal affairs doctrine Limited liability Tag-along right Drag-along right Piercing the corporate veil Rochdale Principles Ultra vires. Related areas. Civil procedure Contract Corporate registers. Main article: Dartmouth College v. Main article: Corporate tax in the United States.

Main article: Company formation. Archived from the original on Retrieved Authority control. Integrated Authority File Germany. United States. Categories : Corporate law Corporations. Namespaces Article Talk. Views Read Edit View history. Help Learn to edit Community portal Recent changes Upload file. Download as PDF Printable version. It would be better, as the case with other platforms like Squarespace or Wix , if a fully-fledged form builder was available for creating more bespoke forms. If you need to create custom forms, you will currently need to resort to some coding or the purchase of an app. Overall the new Online Store 2. In other words, your product catalogues will consist of a series of differently-shaped images — something that can impact negatively on your store design.

These issues with drag and drop and product images aside, the interface is pretty user-friendly. One particularly strong feature offered by Shopify which deserves a special mention, and helps it stand out from its competitors, is its comprehensive Point of Sale POS functionality and hardware. A wide range of hardware is available to purchase — barcode readers, tills, receipt printers etc. If you live in the US, Canada, the UK or Ireland, you can buy these items online directly from Shopify; if not, you will need to find an authorized reseller. There are a several applications for these point-of-sale tools.

For example, they allow you to sell…. So if you run a few physical stores, your monthly POS outgoings can increase substantially with this add-on. The below video provides a demonstration of the Shopify POS system, or you can read more about its features here. This is useful if you want to bulk upload a lot of new products to your store, or are migrating data from another e-commerce platform. As for text-based data, If you want to import posts from a blogging platform such as Bloggr, Tumblr or WordPress, your options are to:. Alternatively, you can use a third-party app to export your content for example Exlm , which gives you a wide range of options for getting your content out of the platform. Thankfully, a workaround exists involving third-party apps — there are quite a few available that lift these limits, but you will need to pay for them.

This basically means setting up rules based on product titles, tags etc. This can save you hours if not days of data entry and manipulation — particularly if you have a large number of products in your online store. Sign up free to immediately receive:. View privacy notice. When it comes to real-time shipping rates — where carriers provide live estimates at checkout, based on distance, weight and the number of boxes needed to ship items — you have two options, depending on your location. This lets you. The other option — and the only one for users not based in the US, Australia or Canada — is to use third-party calculated shipping rates. However, this will involve an extra cost, because third-party calculated shipping rates are only available if you:.

Displaying prices and facilitating checkout in local currencies can improve sales rates considerably. And, unlike several other well-known e-commerce solutions — notably Squarespace — Shopify lets you do this, so long as you are using its built-in payment gateway, Shopify Payments. Given the above limitations, I suspect that some merchants will find themselves reaching for a third-party app to handle multi-currency payments — based on my research, Bold Multi-Currency is probably your best bet here.

The lowdown on multi-currency selling is that Shopify is a pretty good option for merchants wishing to do this, but there are improvements that could be made to the functionality. BigCommerce , for example, makes it much easier to sell in multiple currencies out of the box, without the need for currency selectors, and its Buy Buttons facilitate multi-currency payments too. In addition to facilitating transactions in multiple currencies, Shopify lets you sell in multiple languages. Not all competing products do. Abandoned cart recovery helps you identify users who went part of the way through a purchase only to change their mind about it, and contact them with an encouragement to complete their purchase usually a discount code.

The good news is that this is included on all Shopify plans, meaning that you get this key piece of functionality at a considerably lower price point than its key competitors. As you can see from the screenshot above, Shopify recommends that you send your abandoned cart email 10 hours after your site visitor abandons their cart. This is because according to research carried out by the company, this is the time interval that generates the most sale completions.

Some merchants will require their customers to provide some text at the point of purchase for example, jewellers might require inscription copy; some merchants might like to give customers the option to add a dedication to a product etc. I would prefer — again, as is the case with BigCommerce pictured above — if text fields and file upload buttons were simply options that could simply be selected and enabled when creating products.

Is Shopify good when it comes to SEO? The short answer is yes — its SEO features are strong and compare favourably with other hosted site-building platforms. The nuts and bolts of on-page SEO are certainly very easy to manage — changing page titles and meta descriptions is very easy, as is adding headings and alt text. You can also tweak your robots. Adding redirects — which let search engines know when a page location has changed — is particularly easy. As forgetting to set up redirects is a common source of lost rankings, this automated reminder is an extremely useful feature. You can also — with the help of an app — display all your products and pages in AMP format a faster, stripped-down version of your content which can bring some benefits in mobile search results.

Core Web Vitals are a set of targets relating to the speed, responsiveness and visual stability of a website; sites that meet them can receive preferential treatment in Google search results. There are a couple of areas however where the SEO features could be slightly better in Shopify, though. Although you can customize your URLs, the platform adds prefixes to your pages and products, i. For more detailed information about how to optimize a Shopify store for search engines, you can check out our Shopify SEO guide. For more resources on keyword research tools, check out our Semrush review , our Ahrefs vs Semrush comparison and our Moz versus Semrush comparison.

These apps either add specific functionality to your store or let it work with another app for example, Xero or Zendesk. This wide range of apps is one of the strongest arguments for using Shopify over its rivals — but also possibly an argument against. On the plus side, it means that you have a fantastic range of options not only when it comes to adding functionality to your store but when it comes to integrating it with other tools and platforms too. On the downside, it inevitably leads to lot of situations where getting the functionality you need relating for example to product reviews, AMP, additional product options and custom fields involves installing a paid-for app. Unfortunately, due to a dispute about data protection and privacy issues , this has been withdrawn from the app store.

However, with the introduction of a new email marketing feature, you might not actually need to integrate an e-comms tool with Shopify. An absolutely vital part of running an online store is email marketing: sending e-newsletters to your mailing list is key to generating sales. You can learn more about Shopify Email here. Many potential users of Shopify will be wondering how it facilitates dropshipping.

This is because a lot of dropshipped goods are produced in the Far East — where working conditions can be very poor. So if you are concerned about the ethical dimension, you will need to do a bit of your own research before committing to a particular app or supplier. But in terms of the range of dropshipping options available to you as a merchant, the market leader is definitely Shopify. You can access the starter kit here. One of the challenges of selling online is that you can end up making sales in a variety of jurisdictions with differing tax rates — something you have to reflect in the pricing of your products.

This is particularly relevant for merchants based in the US, Canada, the UK and the EU where different states and provinces respectively apply differing tax rules. Thankfully, Shopify allows you to apply tax rates automatically for these territories, which is a huge time saver. Unlike a lot of competing products, Shopify calculates the appropriate rate automatically. If you want to sell digital products with Shopify, this is perfectly doable — but not immediately obvious how to set up.

A good friend of mine, Diarmaid MacMathuna from Cruinneog — a company that sells an Irish spellcheck tool for Microsoft Word — recently built his new store with Shopify but initially struggled quite a bit to work out how to sell his software online. The good news is that this is free — and very easy to use. You can configure it to work automatically, so that a download link is given to the customer immediately after checkout, and a link is emailed to them when their order is fulfilled. This limit compares very favourably to other platforms — Squarespace for example limits downloadable product size to MB; BigCommerce to MB. This contrasts negatively with key competing product BigCommerce , which provides professional reporting functionality on all its plans.

You can also — with a little bit of configuration — hook it up to the commenting tool Disqus, which is useful. One option worth investigating on this front is DropInBlog , which allows you to make use of more WordPress-style features for example SEO post analysis, product embeds, categories and multiple contributors. These are available on both iOS and Android. There are some other apps available too, which include a deliveries app to aid drivers delivering your products , a logo-making app and a photo editing app. You need to ensure your data is kept secure ; provide access to relevant privacy documents; and prevent any non-essential cookies on your site being run without user consent.

Shopify falls down a bit when it comes to the cookie consent requirement. To ensure GDPR compliance, you need to display a cookie banner to your visitors that:. So for example, if you use a Facebook Ads or Google Analytics cookie on your store, you will be breaking GDPR laws unless you have a banner in place which does all of the above. However, there are quite a few apps in the Shopify app store which deal with this problem and provide the necessary functionality note that some are considerably better than others however.

I would prefer if adequate cookie banner functionality was provided by the platform without the users having to recourse to third-party software. It feels like it should be core functionality. Similarly, ensuring that credit card transactions are safe for your customers is something that Shopify takes responsibility for via PCI compliance. Tip : Shopify provides two-factor authentication 2FA to help you secure your account. Always make use of this, as it will dramatically reduce the chances of anyone gaining unwanted access to your account. See our cyber security tips for other advice on protecting your online accounts. This could be improved a bit, I feel — it it would be better if Shopify offered a more direct way for sellers to contact their developers directly for technical advice.

Overall, Shopify is one of the best hosted solutions for those wishing to create an online store — and arguably the best for anyone who wants to use one product to sell online AND in a physical location. The product is competitively priced — particularly when you consider that abandoned cart saver functionality, a feature which many other platforms charge a premium for on all plans. All in all, Shopify is a very good option for anyone hoping to start a brand new business , or existing small businesses hoping to take their product offering online — but there are some disadvantages of using Shopify to be aware of too.

Third, its multi-currency selling features, whilst reasonably good, could be better. This is available from the Shopify website. To sum up, these are the main pros and cons that you can expect to encounter if using this e-commerce solution:. Shopify comes with an email marketing tool which lets you host a list of up to 2, subscribers for free. You can extend functionality easily thanks to a huge range of third-party apps although note that you will have to pay to use many of them. There are no transaction fees if you are happy to use the built in payment processing system, Shopify Payments. You can try Shopify for free , and without submitting payment details, before committing to it. Whilst you can create variants of a product, these can only involve up to 3 product options.

Key functionality which you might expect to be provided out of the box often requires installation of an app. Adding custom fields such as text boxes or file upload options, whilst doable, is unnecessarily complicated or involves purchasing an app. The integrated payment processor, Shopify Payments, only allows you to sell from certain countries. Getting your site to be GDPR compliant where cookies are concerned will involve use of a third party cookie banner app. Although workarounds exist to make Shopify and Mailchimp work together, there is no longer an official Shopify-Mailchimp integration available. For more information on the product and how it stacks up against Shopify, do check out our full BigCommerce review and our BigCommerce vs Shopify comparison.

If you need more flexibility with regard to how you lay out content, or have a particular need to showcase images, videos or blog posts, you might also like to check out Squarespace , which has a really lovely approach to managing content. Check out our Squarespace review and our Shopify vs Squarespace comparison for more details. You might also be wondering whether online marketplaces like Etsy or Amazon are good options for starting an e-commerce business. If so, take a look at our Shopify vs Etsy comparison and our Shopify vs Amazon comparison for more details on how selling on platforms like these compares to using a standalone store builder.

You can read our full Ecwid review or our Ecwid vs Shopify comparison for more information on this product. If you are on a low budget, then Wix, Big Cartel and Jimdo are worth a look, as they offer selling tools at a cheaper price point. However, there are LOTS of ways to sell your products using it. Read our Shopify vs WordPress comparison for more details, or contact us to discuss our WordPress web design services. Do leave a comment on the post below! We read all comments and aim to answer all questions. However, if you use a third-party payment gateway, Shopify charges you a transaction fee of between 0. Yes, you can do this at any time.

The price of your previous plan is prorated and applied against the cost of your new subscription. For most new merchants, a free Shopify template will work perfectly fine — the bundled templates are attractive and their visuals can be easily tweaked to make your storefront consistent with your brand. There are lots of alternatives available to Shopify — we discuss some of them in depth above. We tested this product via independent research and, more importantly, hands-on experience of it.

We regularly help clients build Shopify stores, and have extensive knowledge of how the platform works. So this Shopify review is based on building many stores from scratch; editing existing ones; and using a wide variety of Shopify apps to configure them. We also have a new FAQs resource on the Shopify free trial and a step-by-step guide to starting a Shopify store which may be of interest. And finally, this post is now available in French! After graduating from Trinity College Dublin in , Chris went on to advise many businesses and not-for-profit organisations on how to grow their operations via a strong online presence; he now shares his expertise through his articles on the Style Factory website. Founded in , the Style Factory site provides in-depth, impartial reviews and comparisons of key business apps, and advice on how to grow a business.

You can connect personally with Chris via Twitter or LinkedIn. Your email address will not be published. Save my name and email in this browser for the next time I comment. I would like to build my Shopify store, but I want to wait before publishing it live, can I do this? Thanks for your question Jacqueline — yes you can do this easily. Hope this helps! My question is: does Shopify promise to keep all the information such as customers data, product data, sales data and financial data, etc. How can Shopify implement? My question is: once I use Shopify, later on, for any reason, I want to stop Shopify and use other website.

Can I export all the information from Shopify? The information may include the customers data, product data, etc. A good review. I am a Shopify user of several years and fairly early on discovered that it is very easy for customers to end up with duplicate accounts through changed and mistyped email addresses. Unfortunately my advice is avoid if a clean customer database is important to you. Hey Dani, thanks for your comment. There is a review process which should ensure quality and security control, yes — you can read about it here:.

Thanks very much for taking the time to give your feedback John — glad you found the review useful. Former disgruntled Shopify user. Shopify is a solid platform if you can get away with the basic features. Where Shopify falls short, and by short, I mean infuriatingly short, is in their shipping features. Four years ago, I dumped Shopify because their platform lacked flexibility in calculating shipping. If you ship and have a limited number of products or products with similar dimensions, Shopify works fine.

Hi Chris — thanks again for this thorough review. It was instrumental in me choosing Shopify when I was setting up my business last year. As of March 1st , Shopify no longer returns their 2. So if a customer returns an item, cancels an unfulfilled order, or a fraudster places an order and the merchant cancels it as fraudulent, Shopify still keeps their 2. Basically Europe is always an afterthought at Shopify, million consumers be damned. I think the GDPR cookie banner issue is less of a problem in Shopify than other platforms however, because there are quite a few apps available for it that do facilitate fully-compliant cookie consent.

Thanks Chris. There are quite a few apps that claim to be compliant, but when you dig into them they fail on basic things like blocking all cookies until consent is granted. Hi Rizk, thanks for your comment. Shopify is a potentially good solution for you as it allows you to host an unlimited number of products which should hopefully meet your large inventory requirement.

So if your products come in all shapes and sizes and you need to give your customers a lot of control over options, then you might need to tread carefully. There are various Shopify apps that you can buy as add-ons however that remove these limits. Those who are interested in getting their website up and running, will undoubtedly benefit from this review. But therein lies a problem. The review ignores discussing the pros and cons of buying products and services from a website hosted by Shopify. As a consumer myself, I purchased several holiday gifts from Shopify hosted websites. What a pathetic experience. This opens the door wide open for disreputable, con artists and scammers. Ignorance is bliss. And very profitable. A regular visit to the website TrustPilot, could be one very simple way to monitor the satisfaction or lack thereof, from consumers using Shopify hosted businesses.

Shopify did not reply to my email. Shopify is complicit in ripping off anyone buying from their websites. I will never do business with a Shopify hosted business again. Which is a shame, because the legit businesses will suffer. I am not alone. Shopify needs to clean up its act.

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