If you were born in the 80s or 90s, the prospect of “adulthood" is ever on the horizon. But when do you officially cross the river Hades and begin the concurrent numerical-ascent and physical-descent into its imminent grasp?
Well, just like its younger sibling “puberty," this next stage of our lives can vary from person to person. But the telltale signs that you've reached the adulting threshold are there.
Ironically, there are 30 of them, and they're listed below.
"You literally just stop caring. Especially about what others think."30 Signs You're an Adult… Or in Denial About It
1. You've fallen asleep in full makeup and clothing on a Saturday night.
With the lights on.
2. Your new [vacuum cleaner] is your favorite purchase of the year so far.
Feel free to substitute: blender, knife set, steamer, space heater, or pots-and-pans here.
If you're an Adult-in-Denial (AiD): a PlayStation console.
3. You've napped in your car on your lunch break to recover from a night out.
And have a strategy (like a blanket or hoodie left in your back seat) to do so more effectively.
4. You smile when they ask for your ID at a bar.
Instead of silently rehearsing your fake birthday and birthplace.
“Millie Thompson, June 3rd, 1986… I mean 1987."
5. You treat your pet like your child… because all of your friends have children.
Everyone knows someone in daycare.
6. The definition of “Coke" changes from a soda to a drug, or vice-versa.
But you need at least one of them to stay awake these days.
7. Your idea of “recreational drugs" are now just prescription drugs for which you have no prescription.
And you're old enough to have binge-watched “Intervention" when it was still on the air.
8. You floss. Like, daily. Sometimes even at work.
And are shameless when your coworkers walk in on you doing it
9. You pay extra to shop online from your couch rather than interact with humans.
And refuse to order anything on Amazon that's not Prime. #FreeShippingOrBust
10. You've caught yourself discussing the economy and real estate markets at parties… with people who are willing and interested.
There was probably a cheese plate involved. Even though you tell people you're “lactose intolerant."
11. You literally just stop caring. Especially about what others think.
And choose to live in a world where “sweatpants" are just called “pants."
12. Espresso makes you poop within the hour.
You also have a list of other natural laxatives lying around your place.
13. You actually get ready for bed, and make sure you get enough sleep to function the next day.
Refer to item #3 for what happens if you don't get your full eight hours.
19. The word “Colonoscopy" suddenly enters your vocabulary.
And you've probably found reviews and Groupons for the best place to get one done.
14. You no longer count the free snacks at work as a “full meal."
And have voiced a strong opinion on which foods they keep in stock. Because you've probably “developed an intolerance" to one of the ingredients, and want everyone to be aware of it.
15. You always bring a dish or drink with you when you visit a friend's place.
You used to wonder who shopped at your local grocery store bakery. Now, you bring festive cookies everywhere you go.
16. You start calling your friend's parents by their first names, instead of Mr./Mrs.
And they're now comfortable sharing what was really going on in your neighborhood, especially during birthday parties.
17. It takes you 2 hours to get drunk... and 2 days to recover.
But by now you've mastered the science experiment of hydration + electrolytes + active charcoal to avoid the inevitable hangover.
18. You buy ice cream whenever you want… and can afford to pay for the good stuff.
Most likely on a Friday night to complement your Netflix date and lack of fucks.
"You realize that you can no longer do math without a calculator."
20. You've injured yourself while simply sleeping or stretching.
On numerous, separate occasions. Like when you “bent over wrong to tie your shoe" last week.
21. You now refer to it as “adult" acne.
Subliminally, of course.
22. You no longer share one Netflix account with everyone you know.
But most likely have to keep instructing your parents on how to use it.
23. You pay your taxes on-time. Without your parents reminding you.
Though you might call them for advice just in case.
24. You realize that you can no longer do math without a calculator.
And have forgotten literally everything else they taught you in middle school. How do you even use a protractor in real life?
25. You drive around nice neighborhoods just to admire houses from the outside.
Just like your parents did before you.
26. You find random dark hairs on your face and body.
Which you pay other people good money to deal with removing.
27. You pride yourself on upgrading from shopping at Forever 21 to Zara.
Although you're “Forever 21" at heart… am I right
28. You find ways to justify “sleeping" and “eating" as hobbies.
Yelp is not an activity people. But is sleep?
29. You seriously get down with meditation.
And have probably fallen asleep once or twice while doing it.
30. You realize you're not what you “thought you would be when you grew up."
And there's no more time to do something about it.
Business entities can be defined as the corporate, tax and legal structures which an organization chooses to officially follow at the time of its official registration with the state authorities. In total, there are fifteen different types of business entities, which would be the following.
- Sole Proprietorship
- General Partnership
- Limited Partnership or LP
- Limited Liability Partnership or LLP
- Limited Liability Limited Partnership or LLLP
- Limited Liability Company or LLC
- Professional LLC
- Professional Corporation
- Nonprofit Organization
- Cooperative Organization
As estates, municipalities and nonprofits do not concern the main topic here, the following discussions will exclude the three.
Importance of the State: The Same Corporate Structure Will Vary from State to State
All organizations must register themselves as entities at the state level in United States, so the rules and regulations governing them differ quite a bit, based on the state in question.
What this means is that a Texas LLC for example will not operate under the same rules and regulations as an LLC registered in New York. Also, an LLC in Texas can have the same name as another company that is registered in a different state, but it's not advisable given how difficult it could become in the future while filing for patents.
To know more about such quirks and step-by-step instructions on how to start an LLC in Texas, visit howtostartanllc.com, and you could get started with the online process immediately. The information and services on the website are not just limited to Texas LLC organizations either, but they have a dedicated page for guiding fresh entrepreneurs through the corporate tax structures in every state.
Sole Proprietorship: Default for Freelancers and Consultants
There is only one owner or head in a sole proprietorship, and that's what makes it ideal for one-man businesses that deal with freelance work and consulting services. Single man sole proprietorships are automatic in nature, therefore, registration with the state is unnecessary.
Sole proprietorships are also suited to a degree for singular teams such as a small construction crew, a group of handymen, or even miniature establishments in retail. Also, this puts the owner's personal financial status at jeopardy.
Due to the fact that a sole proprietorship entity puts all responsibilities for paying taxes and returning loans, it directly jeopardizes the sole proprietor's personal belongings in case of a lawsuit, or even after a failed loan repayment.
This is the main reason why even the most miniature establishments find LLCs to be a better option, but this is not the only reason either. Sole proprietors also find it hard to start their business credit or even get significant business loans.
General Partnership: Equal Responsibilities
The only significant difference between a General Partnership and a Sole Proprietorship is the fact that two or more owners share responsibilities and liabilities equally in a General Partnership, as opposed to there being only one responsible and liable party in the latter. Other than that, they more or less share the same pros and cons.
Registration with the state is not necessary in most cases, and although it still puts the finances of the business owners at risk here, the partnership divides the liability, making it a slightly better option than sole proprietorship for small teams of skilled workers or even small restaurants and such.
Limited Partnership: Active and Investing Partners
A Limited Partnership (LP) has to be registered with a state and whether it has just two or more partners, there are two different types of partners in all LP establishments.
The active partner or the general partner is the one who is responsible and liable for operating the business in its entirety. The silent or investing partner, on the other hand, is the one who invests funds or other resources into the organization. The latter has very limited liability or control over the company's operations.
It's a perfect way for investors to put their money into a sector that they are personally not experienced with, but have access to people who do. From the perspective of the general partners, they have similar responsibilities and liabilities to those in a general partnership.
It's the default strategy for startups to find funding and as long as the idea is sound, it has made way for multiple successful entrepreneurial ventures in the recent past. However, personal liability still looms as a dangerous prospect for the active partners to consider.
Limited Liability Company and Professional LLC
Small businesses have no better entity structure to follow than the LLC, given that it takes multiple good ideas from various corporate structures, virtually eliminating most cons that are inherent to them. Any and all small businesses that are in a position to or are in requirement of signing up with their respective state, usually choose an LLC entity because of the following reasons:
- It removes the dangerous aspect of personal liability if the business falls in debt or is sued for reparations
- The state offers the choice of choosing between corporation and partnership tax slabs
- The limited legalities and paperwork make it suited for small businesses
While more expensive than a general partnership or a sole proprietorship, a professional LLC is going to be a much safer choice for freelancers and consultants, especially if it involves risk of any kind. This makes it ideal for even single man businesses such a physician's practice or the consultancy services of an accountant.
B, C and S-Corporation
By definition, all corporation entities share most of the same attributes and as the term suggests, they're more suited for larger or at least medium sized businesses in any sector. The differences between the three are vast once you delve into the tax structures which govern each entity.
However, the basic differences can be observed by simply taking a look at each of their definitive descriptions, as stated below.
C-Corporation – This is the default corporate entity for large or medium-large businesses, complete with a board of directors, a CEO/CEOs, other executive officers and shareholders.
The shareholders or owners are not liable for debts or legal dispute settlements in a C-Corporation, and they may qualify for lower tax slabs than is possible in any other corporate structure. On becoming big enough, they also have the option to become a publicly traded company, which is ideal for generating growth investments.
B- Corporation – the same rules apply as a C-Corporation, but due to their registered and certified commitment to social and environmental standards maintenance, B-Corporations will have a more lenient tax structure to deal with.
S-Corporation – Almost identical to a C-Corporation, the difference is in scale, as S-Corporations are only meant for small businesses, general partnerships and even sole proprietors. The main difference here is that due to the creation of a pass-through entity, aka a S-Corporation, the owner/owners do not have liability for business debt and legal disputes. They also are not taxed on the corporate slab.
Cooperative: Limited Application
A cooperation structure in most cases is a voluntary partnership of limited responsibilities that binds people in mutual interest - it is an inefficient structure due to the voluntary nature of its legal bindings, which often makes it unsuitable for traditional business operations. Nevertheless, the limited liability clause exempts all members of a cooperative from having personal liability for paying debts and settling claims.
This should clear up most of the confusion surrounding the core concepts and their suitability. In case you are wondering why the Professional Corporation structure wasn't mentioned, then that's because it has very limited applications. Meant for self-employed, skilled professionals or small organizations founded by them, they have less appeal now in comparison to an LLC or an S-Corporation.