Tax and Share Holders Essay Example for Free

Tax and Share Holders Essay †¢LIABILITY-You are liable for payment of any debts incurred that cannot be paid for by the profits from the company. Also if you have personal debts that have gone to collections a creditor can be awarded business profits and or business assets to offset these debts. You are also liable for any injuries that may occur due to your company. †¢INCOME TAXES-The business is not taxed separately. All business income must be reported on the owners personal income tax return. †¢LONGEVITY/CONTINUITY-Sole proprietorships are dissolved when the owner dies. †¢CONTROL-The owner of a sole proprietorship is in complete control over every aspect of the business †¢PROFIT RETENTION-All income is the owners who may do with it as he pleases. †¢LOCATION-Sole proprietors are able to conduct business from home, office, or internet. There isnt really any regulations that limit the location. †¢CONVENIENCE/BURDEN-Sole proprietorships are extremely simple and cheap to start. Depending on your city or county you may need to register for a business license or tax registration certificate. If have employees you may also need an employer identification number from the IRS, a zoning permit, or a sellers license from your state. General Partnership-A company that is jointly formed by two or more individuals †¢LIABILITY-Each partner is liable for all debts of the company to include any contracts entered into by other partners. †¢INCOME TAXES-General partnerships do not pay income taxes directly to the IRS. Partners include any revenue and expenses on their personal income tax returns. †¢LONGEVITY/CONTINUITY-Since all funding comes from the owners assets they have a limited longevity and a harder time expanding. †¢CONTROL-Normally each partner has an equal amount of control. †¢PROFIT RETENTION-Profits are split between partners. †¢LOCATION-General Partnerships are able to conduct business from home, office, or internet. There isnt really any regulations that limit the location. Some counties or states may require a Doing Business As certificate †¢CONVENIENCE/BURDEN-All partners are held liable for any actions  of other partners and can be held accountable. Funding is easier to come by do to the fact that one person isnt solely responsible. Limited Partnership-A company that is formed by two or more individuals where certain individuals play a more managerial role †¢LIABILITY-There is no personal liability protection for the general partners but limited partners are protected. †¢INCOME TAXES-Profits are reported on the personal income taxes of the partners †¢LONGEVITY/CONTINUITY-Normlly funding comes from the limited partner and longevity depends on the terms of the limited partnership agreement. †¢CONTROL-Majority of the control is given to the general partners with the limited partners having little or no control. †¢PROFIT RETENTION-Nornally based on the amount of the money the limited partner invests and the level of control the general partners have, this would be detailed in the limited partnership agreement †¢LOCATION-Limited Partnerships are able to conduct business from home, office, or internet. There isnt really any regulations that limit the location. Depending on the county or state ordinances certain documents may be required to be filed with the relevant registration offices. †¢CONVENIENCE/BURDEN-This is a good model for the individual that is just wanting to invest but have the day to day activities handled by others. The major burden falls on the general partners, they are liable for anything that occurs. C-Corporation-Is an independent entity that is owned by share holders who elect a board of directors to oversee policies and make business decisions. †¢LIABILITY-Share holders have a limited liability towards business debts. †¢INCOME TAXES-Profits are taxed separately under subchapter C of the IRS Code from the share holders. Then the share holders are also taxed on their profits. †¢LONGEVITY/CONTINUITY-They have a longer life span than other models do to the fact that funding is easily acquire through the sale of its shares and or outside investments. The corporation does not dissolve upon the loss of an owner. †¢CONTROL-Control is left to the board of directors who are elected by the share holders. †¢PROFIT RETENTION-All profits are retained by the company. †¢LOCATION-A C-corporation must be registered with the secretary of state in the state it is operating out of.  Ã¢â‚¬ ¢CONVENIENCE/BURDEN-It is easy for a C-corporation to raise money with the issuance of stocks. Double taxation is a major burden and takes a significant amount of profit from the shareholders. The business and the owners are two separate entities. The shareholders have no personal obligations for any debt incurred by the company. Business losses are not deductible by the corporation. S-Corporation-Profits and losses are shared with the share holders and has the benefits of limited liability †¢LIABILITY-They offer limited liability where income and expenses are given to the share holders tax returns. Only the actual investment by the shareholders is at risk. †¢INCOME TAXES-Shareholders report profits and losses on their personal tax returns and pay at their individual income tax rates. †¢LONGEVITY/CONTINUITY-Same as a C-corporation, the sale of shares gives the S-corporation a longer life span. †¢CONTROL-Control is left to a board of directors that is elected by the share holders. †¢PROFIT RETENTION-All profits and losses are passed through to the shareholders who are then taxed at their individual tax rates. †¢LOCATION-An S-corporation must be registered with the secretary of state in the state it is operating out of. †¢CONVENIENCE/BURDEN-There are many regulations that an S-corporation needs to meet which is a disadvantage. Limited Liability(LLC)-This is similar to an S-corporation in that it offers limited liability but has the tax advantages of a partnership †¢LIABILITY-The only thing at risk is the money the member invests, personal assets are protected. †¢INCOME TAXES-Income is passed on to the share holders who then have to pay taxes at their individual tax rate. †¢LONGEVITY/CONTINUITY-Shares can be transferred by members without any restrictions giving a LLC an indefinite life span. †¢CONTROL-Also managed by a board of directors that is elected by the share holders. †¢PROFIT RETENTION- All profits and losses are passed through to its share holders who then must pay taxes at their individual tax rate. †¢LOCATION-A LLC must be registered with the secretary of state in the state it is operating out of. †¢CONVENIENCE/BURDEN-An LLC also has many regulations that it must meet, perhaps its greatest burden is meeting the varying requirements and restrictions from state to state. To: Owner of the Wood Manufacturing Company From: Ben Woltering Re: Business Organization Recommendation Date: January 4, 2013 There are many different options to look at when considering a change in organizational structure. Currently you are setup as a Sole Proprietorship which leaves you exposed to any and all debts or injuries, plus leaves you open for lawsuits. If you brought in a partner and formed either a General or Limited partnership you would still be liable as stated above to any debts, injuries or lawsuits, but you would have the added capital of your partners for expansion and all profits belong to the owners. A C-Corporation would give you personal limited liability and is generally easy to obtain business capital through the sale of stocks you do run into the issue of double taxation where the company pays taxes on profits as do the owners on their dividends. There is also an accumulated earnings tax on profits in excess of $250,000. An S- Corporation offers the same limited liability as the C-Corporation but does not pay Federal taxes. All earnings and losses are passed through to the share holders. The company will not dissolve if you were to leave or die. An LLC has both the tax advantages of a partnership and the limited liability of a corporation. There is no continuity of life as in a regular corporation, the LLC will dissolve if the owner leaves, but some formal agreement can overcome this. Legal assistance is recomended to make sure all of the correct paper work is completed for your state and any you are  planning to expand to. Due to its ease off setup, limited liability protection, no federal taxed and all earnings and losses are passed through to the share holders I recommend that you structure your company as an S-Corporation. Before moving forward I recommend that you contact your attorney and accountant to find out what the local requirements are for starting an S-Corporation. Thank you for your time and please let me know if you have any more questions.

The Tension between Beauty and Virtue in Shakespeares Sonnet 95 Essay

The Tension between Beauty and Virtue in Shakespeare's Sonnet 95      Ã‚   "Sonnet 95" of Shakespeare's "blond young man" sonnets depicts a tension-filled variation on the classic blazon. The poet seems torn between the "shame" (1) that taints his subject and the "sweets" (4) of the subject 's beauty. The initial imagery of a "canker" (2) within a "rose" (2) serves to set up the sexual overtones that dominate the poem, as well as to create the sense of strain between disapproval and attraction that heightens throughout each quatrain. Shakespeare develops this imagery to ensnare the subject in an increasingly agitated opposition between his physical beauty and his behavioral repulsiveness. Though the poet claims that he "cannot dispraise but in a kind of praise" (7), the closing couplet goes counter this, bringing the sense of antagonism between the poet 's admiration and his disapproval full circle. The couplet serves as a warning that the physical beauty and virility that have dominated the young man 's life will end, destroying the " mansion" (9) where he hid his moral failing through the quatrains.    The opening quatrain of Sonnet 95 serves to expose the contrast between the young man 's physical and moral states. This quatrain, despite permitting the young man 's "beauty" (3) to dominate the sense of his "sins" (4), also begins to assert the idea that he will suffer for his vice. The opening image of "How sweet and lovely" (1) dominates the completion of the thought "dost thou make the shame" (1) through both rhythm and diction. While Shakespeare sets the opening in perfect iambic rhythm, the insertion of a pyrrhic foot to begin the statement of the young man 's "shame" (1) weakens the idea, allo... ...s to force the idea that there is a danger in the previously stated opposition. However, the phallic imagery of the "large privilege" (11) of which the young man should be aware helps to complete the poem 's consideration of physical beauty in place of virtue by drawing the poem back to the sexual overtones set up in the beginning. The warning that "the hardest knife ill-used doth lose his edge" (12) forces the idea that age leads to physical impotence, thereby leaving physical beauty the transient domain of the young, and virtue the permanent domain of all.    Work Cited The Norton Anthology of English Literature. Eds. M. H. Abrams and Stephen Greenblatt. 7th ed. 2 vols. New York: Norton, 2000. 1:1041-42. Works Consulted "canker, n." Oxford English Dictionary. Ed. J. A. Simpson and E. S. C. Weiner. 2nd ed. Oxford: Clarendon Press, 1989. The Tension between Beauty and Virtue in Shakespeare's Sonnet 95 Essay The Tension between Beauty and Virtue in Shakespeare's Sonnet 95      Ã‚   "Sonnet 95" of Shakespeare's "blond young man" sonnets depicts a tension-filled variation on the classic blazon. The poet seems torn between the "shame" (1) that taints his subject and the "sweets" (4) of the subject 's beauty. The initial imagery of a "canker" (2) within a "rose" (2) serves to set up the sexual overtones that dominate the poem, as well as to create the sense of strain between disapproval and attraction that heightens throughout each quatrain. Shakespeare develops this imagery to ensnare the subject in an increasingly agitated opposition between his physical beauty and his behavioral repulsiveness. Though the poet claims that he "cannot dispraise but in a kind of praise" (7), the closing couplet goes counter this, bringing the sense of antagonism between the poet 's admiration and his disapproval full circle. The couplet serves as a warning that the physical beauty and virility that have dominated the young man 's life will end, destroying the " mansion" (9) where he hid his moral failing through the quatrains.    The opening quatrain of Sonnet 95 serves to expose the contrast between the young man 's physical and moral states. This quatrain, despite permitting the young man 's "beauty" (3) to dominate the sense of his "sins" (4), also begins to assert the idea that he will suffer for his vice. The opening image of "How sweet and lovely" (1) dominates the completion of the thought "dost thou make the shame" (1) through both rhythm and diction. While Shakespeare sets the opening in perfect iambic rhythm, the insertion of a pyrrhic foot to begin the statement of the young man 's "shame" (1) weakens the idea, allo... ...s to force the idea that there is a danger in the previously stated opposition. However, the phallic imagery of the "large privilege" (11) of which the young man should be aware helps to complete the poem 's consideration of physical beauty in place of virtue by drawing the poem back to the sexual overtones set up in the beginning. The warning that "the hardest knife ill-used doth lose his edge" (12) forces the idea that age leads to physical impotence, thereby leaving physical beauty the transient domain of the young, and virtue the permanent domain of all.    Work Cited The Norton Anthology of English Literature. Eds. M. H. Abrams and Stephen Greenblatt. 7th ed. 2 vols. New York: Norton, 2000. 1:1041-42. Works Consulted "canker, n." Oxford English Dictionary. Ed. J. A. Simpson and E. S. C. Weiner. 2nd ed. Oxford: Clarendon Press, 1989.

Role of British Rule in Rise of Communalism in India

The Indian society has never been homogeneous in nature. It has always been a diversified, multicultural, and multireligious society. But through out its history the Indian masses what ever their religion, cast and race was lived without any hostility and enmity. Communalism emerged only during the British rule, so one can very easily assume Communalism as modern phenomenon not an ancient or a medieval one. Communalism emerged during the British rule due to the three main reasons. The divide and rule policies of the British.The emerging competitiveness in the political and social structure of the society and also the conservativeness of the society of that time which slowed economic growth. The war of independence of 1857 in which the Muslims and the Hindus fought side by side against the foreign intruders compelled the British to devise a plan to widen the communal difference between the the Indian masses. The British intimated the Hindus because they find them less hostile than the Muslims which were the former rulers of the subcontinent.This widened the gap between the communities and the Muslims felt cornered. This was the basic reason why the Muslim elite considered to found a separate country for their fellow Muslims. (Sociology of Communalism) Was Partition Inevitable? The Indian Muslims and Hindus have been living side by side for centuries. Despite their cultural and religious differences both the communities have prevailed side by side without any notable hostility between them.The rise of Communalism in the late 19th Century further accelerated by the British rulers and lack of generosity shown by the Indian nationalists made the Muslim population feel vulnerable. This feeling of vulnerability further led to the demand of separate state. Mohammad Ali Jinnah the strongest voice in the favor of the partition was himself a leader of Indian National Congress. But the Congress leadership failed to guarantee the Muslims their representation in the post-ind ependence political and social system. This compelled the Muslim leadership to seek for alternatives i.e. partition. Thus one can conclude that partition was not inevitable if the Muslims have given sound guarantees regarding their social, political and economical future. (How a Continent divided? ) Works Cited Asghar Ali Engineer, Sociology of Communalism; Retreived from World Wide Web on March 23rd 2007, http://www. countercurrents. org/comm-engineer190503. htm Eqbal Ahmad, How a Continent Divided? ; Retrieved from World Wide Web on March 23rd 2007, http://www. geocities. com/CollegePark/Library/9803/eqbal_ahmad/continent. html

Management and Outrigger Hotels Essay - 1249 Words

Information systems for managers Case study: Outrigger Hotels and Resort The solution is here†¦ Magic Data The solution is here†¦ Question 1-The current IS resources of Outriggers: 1. Technical Resources: * Hardware(Personal computers; Routing equipment). * Software (Stellex, in 1987; Stellex 2.0, in 1992; centralized IT systems; E.Piphany; JD Edwards). – Appendix 1 * Networking comportments of IT infrastructure (XML interface; Electronic interface; IBM AS 400 Platform; Windows 2000 Platform; Local area networks). 2. Data/Information Resources: Tendem Nonstop; Enscribe DBMS; Sun Microsystems UNIX; Intel Windows; Reducdant leased lines (WAN). 3. Human Resources: * Outriggers IS organization. – Appendix 2 *†¦show more content†¦Secondary issues include an inability to recognize return, VIP and â€Å"special event† guests; a lack of technological amenities for clientele; and a dearth of congruity between retail space technology and the technology of the lodging properties. Of course, all of these issues are key factors in allowing for future growth. Outrigger can continue business as usual, and suffer the consequences of ignoring technology, or the aforementioned issues can be addressed in, essentially, one of two ways: either attempt to mitigate the problems individually as they become increasingly detrimental to the business, or venture to conquer the obstacles with a comprehensive, multi-pronged plan of attack. While addressing the issues on their own is cheaper in the short term, and perhaps easier to integrate initially, Outrigger will undoubtedly find itself playing catch-up in the long term, faced with higher overall costs and longer man hours spent on implementing the solutions. For example, while moving operations to a cloud-based system may drastically reduce maintenance costs associated with having on-site hardware, there still remains the problem of lacking a unifying IS between all Outrigger properties. 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