Archive for the ‘Tax’ Category

Business Incorporation How To Move From The World Of Unlimited Liability To Limited Liability}

Business Incorporation — How to Move from the World of Unlimited Liability to Limited Liability

by

Wayne M Davies

For the small business owner or self-employed person, both the sole proprietorship and the general partnership put you in the world of unlimited liability.

All your personal assets are at risk. A business-related accident or lawsuit could literally wipe you out.

How do you solve this problem? By forming a “C” Corporation, an “S” Corporation, or a Limited Liability Company (LLC).

Here’s a quick overview of the major characteristics of these three entities:

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C Corporation. The profit of a “C” Corporation is taxed twice — once to the corporation and a second time to the shareholders when distributed as dividends. (This is the dreaded “double taxation of corporate profits”). However, shareholders cannot deduct any losses of the Corporation. The “C” Corporation files Form 1120 to report its income and expenses to the IRS.

S Corporation. If your business qualifies, it can avoid double taxation by becoming an “S” Corporation. An “S” Corporation generally is exempt from federal income tax, but still must file an income tax return called Form 1120S. The income or loss of the “S” Corporation is transferred from the corporation to the individual shareholder’s personal income tax returns via Schedule K-1, which the corporation must give to each shareholder.

Limited Liability Company (LLC). This is the newest entity type. From a legal standpoint, the LLC is much like a corporation, offering limited liability to the owners (which are called “members”). From a tax standpoint, the LLC is like a chameleon — it can be taxed however it wants to be taxed, provided the proper paperwork is filed with the IRS. If there is only one owner/member, the LLC can be taxed like a sole proprietorship, a “C” Corporation, or an “S” Corporation. If there are two or more owners/members, the LLC can be taxed like a Partnership, a “C” Corporation, or an “S” Corporation.

Please note that I’m leaving the limited partnership out of this discussion. I’m assuming that you want a say in the day-to-day management of your business. If so, then both the general partnership and the limited partnership are not a good Choice of Entity for you. Why is that? Because if your business is a general partnership, then you automatically have unlimited liability. And if your business is a limited partnership and you want management control, then you’re going to have to be the general partner, and again, you’ll have unlimited liability.

There are certainly business situations for which the limited partnership is a “good fit” (for example, if real estate is involved). But that’s beyond the scope of this article.

So, back to my original question:

How do you avoid unlimited liability? By forming one of these entities: a “C” Corp, an “S” Corp, or a LLC.

Having made such a bold statement, let me also say this: when it comes to this choice of entity issue, one size does not fit all.

So let me add a strong disclaimer: there are situations where a “C” Corporation, an “S” Corporation, or a LLC is not appropriate.

But generally speaking, for many small business owners and self-employed people, one of these three entities is the best fit.

Remaining a sole proprietor or a general partnership doesn’t make much sense — you are putting yourself, your family, and all your personally owned assets at risk.

Wayne M. Davies is author of the 3-volume ebook on small business tax strategies —

The Ultimate Small Business Tax Reduction Guide

. For a free copy of his Special Report “How To Instantly Double Your Deductions”, visit

YouSaveOnTaxes.com

.

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Business Incorporation — How to Move from the World of Unlimited Liability to Limited Liability

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Ambassador From Foreign Countries}

Ambassador from Foreign Countries

by

Kinhomchan

When ambassadors come from foreign countries, nobody is aware of their movements until they actually arrive at the city gates; nobody gives any information that they are coming and nobody makes any preparation for them; and they will surely attribute this to our negligence and indifference. So officers at the frontiers must be told that whenever anyone approaches their stations, they should at once dispatch a rider and find out who is coming, how many men there are with him, mounted and uncounted, how much baggage and equipment he has, and what is his business.

A trustworthy person must be appointed to accompany them and conduct them to the nearest big city; there he will hand them over to another agent who will likewise go with them to the next city (and district), and so on until they reach the court. Whenever they arrive at a place where there is cultivation, it must be a standing order that officers, tax-collectors and assignees should give them hospitality and entertain them well so that they depart satisfied.

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When they return, the same procedure is to be followed. Whatever treatment is given to an ambassador, whether good or bad, it is as if it were done to the very king who sent him; and kings have always shown the greatest respect to one another and treated envoys well, for by this their own dignity has been enhanced. And if at any time there has been disagreement or enmity between kings, and if ambassadors have still come and gone as occasion requires, and discharged their missions according to their instructions, never have they been molested or treated with less than usual courtesy. Such a thing would be disgraceful, as God says, “The messenger has only to convey the message plainly.

It should also be realized that when kings send ambassadors to one another their purpose is not merely the message or the letter which they communicate openly, but secretly they have a hundred other points and objects in view. In fact they want to know about the state of roads, mountain passes, rivers and grazing grounds, to see whether an army can pass or not; where fodder is available and where not; who are the officers in every place; what is the size of that king’s army and how well it is armed and equipped; what is (he standard of his table and company; what is the organization and etiquette of his court and audience hall; whether he plays polo and hunts; where his qualities and manners, his designs and intentions, his appearance and bearing arc; whether he is cruel or just, old or young; whether his country is flourishing or decaying; whether the peasants are rich or poor; whether he is greedy or generous; whether he is alert or negligent in affairs.

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Ambassador from Foreign Countries
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Estate Agents Newcastle}

Estate Agents Newcastle

by

Sheratonv

Would you like to be able to go above and beyond in order to benefit from top quality services offered by a serious team of Chartered Surveyors Newcastle and Commercial Estate Agents Newcastle? If the answer is yes, then all you have to do is go online, to rorymack.co.uk! You will definitely not regret it! This website belongs to Rory Mack Associates Ltd, without a shade of doubt a wonderful company aimed to please all its customers!

Rory Mack Associates Ltd is a wonderful team of Chartered Surveyors Newcastle, valuers and Commercial Estate Agents Newcastle that also cover Staffordshire, Cheshire and Shropshire. Their independent property consultant services are of the highest quality possible and they constantly try to put customer satisfaction on top of the priority list. You ought to note that this is a highly spoken of and truly professional independent commercial estate agency based in Newcastle under Lyme, Staffordshire. What should be mentioned here is the fact that Rory Mack Associates Ltd can be able to offer you a vast array of services, including sales, lettings and acquisition advice on all commercial property sectors.

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Also, it is important to note the fact that this company has a dedicated team of experts who will not stop until they provide you exactly the kind of services you highly need. They can offer their local knowledge, as well as market analyses and marketing strategy reports, and implement bespoke campaigns that achieve real results. Furthermore, it is important to note the fact that this great company can carry out valuations for a wide range of purposes, including sales or purchases, taxation, litigation, secured lending, asset management, building reinstatement, accounting and so on and so forth. You should also note that this company has a dedicated property management department which provides a bespoke management service on anything from single houses to multi-let industrial sites.

Furthermore, it is important to keep in mind that, should you need assistance when it comes to construction related issues, including repair and condition disputes, schedules of dilapidation and schedules of condition, lease consultancy including rent reviews and renewals, business rates assessments and appeals, compulsory purchase orders and compensation and procurement of energy performance certificates, then you can always feel free to discuss with the team of charter surveyor specialists. Whenever you might need to get in touch with the team of Commercial Estate Agents Newcastle and Chartered Surveyors Newcastle, you can feel free to access rorymack.co.uk, and go to the Contact Us section. Leave your message and a member of the team will be happy to respond!

Furthermore, it is important to keep in mind that, should you need assistance when it comes to construction related issues, including repair and condition disputes, schedules of dilapidation and schedules of condition, lease consultancy including rent reviews and renewals, business rates assessments and appeals, compulsory purchase orders and compensation and procurement of energy performance certificates, then you can always feel free to discuss with the team of charter surveyor specialists. Whenever you might need to get in touch with the team of Commercial Estate Agents Newcastle and Chartered Surveyors Newcastle, you can feel free to access rorymack.co.uk, and go to the Contact Us section. Leave your message and a member of the team will be happy to respond!

Should you be interesed in discussing your needs and demands with a qualified team of

Chartered Surveyors Newcastle

and

Commercial Estate Agents Newcastle

, then all you have to do is go online, tororymack.co.uk! You will definitely not regret it! Why? The reason is due to the fact that this ingenious and well-organized portal belongs to the best possible independent commercial estate agency that will offer you plenty of top quality services!

Article Source:

eArticlesOnline.com

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