Labor Union And Employment Agencies

As a hybrid of partnerships and corporations, LLC’s provide limited liability for debts and flexibility to be taxed as a partnership or corporation (Staring and Naming a Business Presentation, 2012, Slide 5). Some specific advantages include being empowered authorities in the management of the business, diversity of members, limited liability, pass-through taxation, and less paperwork (appreciated by many). A drawback of this business structure is the need for a tailored operating agreement that specifies the specific needs of the

Many believe that liability is a biggest issue in a general partnership than in a sole proprietorship. The owners of the company are still fully liable for any debts the company may accrue as well as the liability for any lawsuits that may be brought against the company. However, the bigger issue in a partnership is that now each partner can be liable for the other partner’s actions. If one partner is sued for malpractice, the other partner may suffer because of it.

When it comes to partnerships Alex, Bill, Carl, and Devon will have two options- a general partnership or a limited partnership. Partnerships are beginning to be a business form of the past. Once upon a time, partnerships were “the default form of business and provided the benefit of pass-through taxation, but lacked the important feature of limited liability” (Chrisman, 2010, p. 465). In a general partnership, each partner associated with the entity will be held liable for their own business decisions as well as

Organized labor affects the lives of many citizens everyday, often in a roundabout way. Labor Unions affect many different people from blue-collar workers to white-collar workers, stay-at-home moms, students, and retirees. Fewer; however realize the legal role Labor Unions have played and continue to play in the financial system, political affairs, and society in general. In today's society, more of our skilled hourly and unskilled workers belong to some sort of Labor Union and that is a good sign that Unions will not face extinction. As long as there is a need for higher wages, there will be a need for Unions.

Without a partnership agreement, loss of income and profits are split between partners that wish. The partners then report individual amounts divided in their tax returns, pay taxes accordingly. Gains and losses are passed directly to shareholders, with each LLP partner personally liable only for its own negligence or the negligence of an employee who is under the direct supervision of the partners. The other

Title VII of the Civil Rights Act of 1964 prohibits employment discrimination based on : Race, Color, Sex, Religion, and National Origin with respect to employment. “Specifically, it states that it shall be an unlawful employment practice for an employer” (Dressler, 2015, p. 28). “It established the concept of protected classes; those individuals who are protected from discrimination by the legal system. It prohibits discrimination in all employment practices. Title VII makes it unlawful to limit or classify employees in any way that deprives them of employment opportunities or hampers their career progression when that classification is based on their protected status” (SHRM). Title VII also established the EEOC Commission (EEOC) and applies to employers with 15 or more employees and most labor unions.

Part VI: Discuss, in detail, how the individuals are taxed (if at all) with respect to the net profits from this entity and what filing requirements they will each have with the IRS. Individuals in a partnership are normally liable for filing personal income taxes, self-employment taxes and estimated taxes for themselves, according to the Internal Revenue Service. Each individual will file a Schedule K-1. The partnership itself is not responsible for paying taxes. The credits and

Yes. The U.S. Supreme Court ruled that under the ministerial exception of Title VII of the Civil Rights Act and the Free Exercise and Establishment Clauses of the First Amendment it is lawful for religiously affiliated organization to discriminate based on religion in the form of any tangible job action; as long as the

a general partnership. It should be noted, however, that the specific steps and requirements to start an

American Federation of Labor and Congress of Industrial Organizations, (n.d.). Retrieved on February 4, 2008 from http://www.aflcio.org

In a unionized environment, employers exert their power mainly by working against union organizing. Their most important goal is to be union-free. Efforts to control organizational costs have also contributed to employer’s resistance to unions. The management may work towards sidelining union membership by designing work in such a way that it creates a work culture that increases employee commitment and job satisfaction. Employers use a variety of methods to refrain worker’s from organizing campaigns and unionize. Their efforts range from hiring consultants to distributing leaflets and letters to presenting the company’s viewpoint at meeting with employees. Some employers also

The running and operation of businesses poses the risks of loss and liability in the case of tort negligence or breach of contract. However, the business legal structure of a given organization greatly determines the risk of exposure to personal liability (Bevans, 2006). The paper investigates and compares the risk of exposure to personal liability in five business entities and explores how the risk can be mitigated. Business personal liability risk is classified as limited and unlimited. In unlimited liability, the personal assets in addition to business assets can be seized (Hillman & Loewenstein, 2015). Limited liability as seen in limited partnerships, corporations and limited liability companies significantly reduce the risk of exposure to personal liability. Opening a limited partnership in addition to taking insurance to protect the business offers the best chance of averting the risk for personal liability risk (Schich, 2009).

Limited Liability Corporation and limited liability partnership are two of several types of structures that individuals can give thought to forming when starting a business. To form a corporation each member has limited liability, but the corporation has full liability. Forming a partnership requires at least two people, which are called partners, and each partner has limited liability. This paper will describe the roles of Limited Liability Corporation (LLC) and Limited Liability Partnership (LLP). In addition, the paper will describe under what circumstance one would

There are a number of forms of ownership that the business can take. The main forms are sole proprietorship, partnership, Limited Liability Corporation, corporation and S corporation. There are advantages and disadvantages to each of these forms that will be discussed in this section. A sole proprietorship essentially has the person as the business. In this situation, the proprietor bears all of the risk involved in the business. Business income flows through to the proprietor's personal taxes. For some individuals there are tax advantages, but for many the appeal of the sole proprietorship is its simplicity. The IRS defines a partnership as a relationship existing between two or more individuals who joint to carry on a business. Partners divide income according to their own agreement and that income flows through to their personal taxes. Partners also have a high level of liability for any legal action that befalls the company.

Taxation: the partners pay the tax expense at individual level. In this way, they are taxed at a rate higher than the rate of the business.