QST LA 245 Lecture Notes - Lecture 20: Sole Proprietorship, S Corporation, Business Continuity

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hahn

20 Mar 2022

School

Boston University

Department

Law

Course

QST LA 245

Professor

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Sole proprietorship is an unincorporated business owned by one person. The business itself doesn"t pay taxes and doesn"t file a separate tax report but instead pays personal income tax on all business profits. A corporation shields managers and investors from personal liability for the debts of the corporation and the actions of others but not against liability for their own torts and crimes. Corporations require substantial expense and effort to create and operate. Created to encourage entrepreneurship through tax breaks. Shareholders of s corps have both the limited liability of a corporation and the tax status of a flow-through entity. There can only be 1 class of stock. There can be no more than 100 shareholders. Shareholders must be individuals, estates, charities, pension funds, or trusts, not partnerships or corporations. Shareholders must be citizens or residents of the us, not nonresident aliens. All shareholders must agree that the company should be an s corporation.

Related Questions

or over five years, Rick was the CEO of JB Guitars Inc, a corporation operating a chain of retail guitar stores. He had gained tremendous practical experience and decided to start his own business selling guitars. When he first started working at JB Guitars, Rick agreed not to carry on a competing business for two years after he ended his employment with the corporation. To avoid breaching that contract, Rick incorporated a corporation named Generation X Guitars Inc to carry on the business. He is the sole shareholder, director, and president. JB Guitars claims that the new corporation is just a way of getting around the non-competition agreement and has sued for a court order prohibiting Generation X Guitars from carrying a business competing with JB Guitars. Will JB Guitars be successful?

indigotiger525

based on your additional research, should police departments employ predictive policing to reduce crime with limited resources? Be sure to carefully defend your response with reasons and consider an objection (which you respond to) before you conclude the argument.

My response: I agree that being a part of the white society is like the concept of invisible privilege that has a familiar simile in that it is analogous to an invisible weightless knapsack. This metaphor emphasizes that white privilege, even though it may not be immediately obvious, has considerable advantages and opportunities that may include a lot of benefits and freedom to life. White people benefit from the structures and institutions in which they live. In the same culture, they were trained to be oblivious to their benefits. The undeserved advantages that were created by white people made people of color feel as if they were being oppressed. It is a norm and dominating racial power to be white in this society. For instance, if a white person comes into a new neighborhood, they are fairly certain that the bulk of their neighbors are the same color as them. A person has no idea of the advantages they have until they put themselves in the shoes of other people of color. Peggy McIntosh said that white advantages don't originate from a fault in a single human or from a single individual using them. It is via an inherent fault in the system that white privilege is created. If we wish to effect systemic change, it must occur inside the system. Systems have a major impact on individual behavior in the social world. We may all do our part to hasten the end. McIntosh maintains that white people may see racism in a different way when something gives them an advantage over others, not because it benefits white people. Systemic oppressions have interactive and internalized characteristics. Teaching racism as an act rather than an overall system that advantages the dominant group makes it difficult for white people to see themselves as racists. Embedded systems can't be eliminated, the recognition of them is important. Change won't come from just being dissatisfied with the system. McIntosh's example offers many benefits for comprehending white privilege. There are many advantages to understanding white privilege as the McIntosh example demonstrates. While it is true that 'whiteness' is simply about skin color, the various definitions of race reveal that it is really much more than that. The fact that McIntosh refers to white advantage rather than non-white disadvantage when framing the discussion of race reinforces the overall idea that race should be seen in terms of advantage rather than disadvantage.

include

1. Introduction

-State thesis and summarize argument

-Define any key terms

2. Main Body

-Argument 1, Argument 2, Argument 3

3. Objection

-Response to objection

4. Conclusion

-Restate thesis/summarize your main arguments

OC4131475

Grade 9 english:

Think back to Charlotte Edmund's article, "7 skills all young people need to survive the future of the workplace" from the first activity in this lesson. Choose the skill you believe to be the most important to your future
Write a few paragraphs to explain why you feel this way. If you think there's a skill the author didn't mention that's more crucial to your future, explain what it is and why you believe so. Give your strongest writing. Plan your ideas before you start writing, then use paragraphs to organize your piece. After you have a first draft, revise it, looking at paragraph unity, sentences, spelling, and capital letters.

Article:

7 skills all young people need to survive the future of the workplace

Dr. Tony Wagner, co-director of Harvard's Change Leadership Group, argues that today's
school children are facing a "global achievement gap," which is the gap between what even
the best schools are teaching and the skills young people need to learn.
This has been exacerbated by two colliding trends: firstly, the global shift from an industrial
economy to a knowledge economy, and secondly, the way in which today's school children —
brought up with the internet — are motivated to learn.
In his book "The Global Achievement Gap," Wagner identifies seven core competencies every
child needs in order to survive in the coming world of work.
1. Critical thinking and problem-solving
Companies need to be able to continuously improve products, processes and services in order
to compete. And to do this they need workers to have critical thinking skills and to be able to
ask the right questions to get to the bottom of a problem.
2. Collaboration across networks and leading by influence
Given the interconnected nature of the business world, leadership skills and the ability to
influence and work together as a team has become increasingly important. And the key to
becoming an effective leader? It's twofold, says Wagner, involving "creative problem-solving
and a clear ethical framework".
3. Agility and adaptability
The ability to adapt and pick up new skills quickly is vital for success: workers must be able to
use a range of tools to solve a problem. This is also known as "learnability", a sought-after
skills among job candidates.
4. Initiative and entrepreneurialism
There is no harm in trying: often people and businesses suffer from a tendency to be riskaverse. It is better to try 10 things and succeed in eight than it is to try five and succeed in all
of them.
5. Effective oral and written communication
Recruits' fuzzy thinking and inability to articulate their thoughts were common complaints that
Wagner came across from business leaders when researching his book. This isn't so much
about young people's ability to use grammar and punctuation correctly, or to spell, but how to
2/3
communicate clearly verbally, in writing or while presenting. "If you have great ideas but you
can't communicate them, then you're lost," Wagner says.
6. Accessing and analyzing information
Many employees have to deal with an immense amount of information on a daily basis: the
ability to sift through it and pull out what is relevant is a challenge. Particularly given how
rapidly the information can change.
7. Curiosity and imagination
Curiosity and imagination are what drive innovation and are key to problem solving. "We're all
born curious, creative and imaginative," says Wagner. "The average four-year-old asks a
hundred questions a day. But by the time that child is 10, he or she is much more likely to be
concerned with getting the right answers for school than with asking good questions.
"What we as teachers and parents need do to keep alive the curiosity and imagination that, to
a greater or lesser extent, is innate in every child."

jhonny

QST LA 245 Lecture Notes - Lecture 20: Sole Proprietorship, S Corporation, Business Continuity

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