What Are The Advantages Of Xyz's Status

Our client, Individual #1, is currently earning $350k in gross receipts and $175k in gross profit, respectively, from his IT consulting business. In discussions with the client, we learned he wants to transition his sole proprietorship/LLC into either an S-Corp or C-Corp. I propose his reorganization as an S-Corp as although it limits his potential for equity investment, it provides both a liability and tax shield.

C corporations are able to have unlimited shareholders, which is probably an important characteristic to large companies. (S corporations, for example, may not have more than 100 shareholders.) C corporations can also be owned by non-citizens or other business entities, where S corporations can only be owned by individuals who are US citizens.

Examining the View that the Supreme Court is an Effective Protector of Civil Liberties In 1789, the founders of the Constitution set out the power of the Supreme Court in Article III section 2, and, arguably, in the Supremacy clause in Article 6. These clauses gave the Supreme Court the power to protect the Constitution, and by doing so, the power to protect civil liberties. The strength of the Supreme Court is essential in protecting civil liberties that are protected by the Constitution. The Supreme Court has also increased its power through court cases and through judicial revolutions.

basis of the assets transferred, the taxpayer will recognize gain to avoid having a negative basis in the stock.

Sole proprietorships and partnerships generally have a tax advantage over many corporations, especially large ones.

Section 1.368-2(c) of the Income Tax Regulations provides: In order to qualify as a "reorganization" under section 368(a)(1)(B), the acquisition by the acquiring corporation of stock of another corporation must be in exchange solely for all or a part of the voting stock

Section 351 of the Internal Revenue code allows a taxpayer to obtain non-recognition of gain or loss when property is transferred solely in exchange for stocks and immediately after the transfer, the transferor or transferors are in control of the corporation. This does not include non-qualified stock as provided under §351(g), however. As described above, each party transferred to the corporation qualifying tangible assets that are established as “property” for rules governing transfers to corporations. Moreover, directly after the exchange both shareholders obtained control of the corporation by satisfying the requirement of I.R.C. §368(c). Section 368 (c), defines control as holding at least 80% of the total combined voting power of all

The Charter has a global source of national advantage and unity, fostering the evolution of a Canadian identity. The Charter supplies Canadian citizens, permanent residents, or newcomers with the broad set of rights and freedoms. However, this uplifts an important question to everyone: what are these rights and freedoms? The Charter secures crucial rights and freedoms by limiting the capacity of governments to pass laws or take measures that are discriminatory. The Charter basically wants everyone is treated equally, regardless of what race, nationality, ethnic origin, colour, religion, sex, age or mental and physical ability they have. Our court system is always going to be in control of interpreting the Charter. The purpose of the charter is to outline and assure the rights of Canadian citizens, along with the civil rights of whoever is residing on the territory of Canada.

Maria and Jason, along with Robert and Elizabeth, must focus first on the initial setup of the organizational structure and the tax consequences on the corporation and individually before addressing the other factors of the organization, which are simple and easily addressed by discussing individual and group objectives. The first point to address is the IRC Section 351 limitation of 80% control of the corporation. Maria nor Jason are interested in decreases their control of the corporation and the best approach is for Robert and Elizabeth to contribute their proposed transactions and being taxed of on the gains at their marginal tax rate. Otherwise, it is best for Robert and Elizabeth to reevaluate their proposed transactions in order minimize the tax consequences. The IRC Section 351 limitation only pertains to an even exchange of property, weather property or cash, for corporate stock and 80% control of the corporation (IRC Section 351, n.d.).

S-corporations are almost entirely small businesses due to restrictions placed on their formation by the US tax code. The requirements to make the election to become an S-corporation include limiting the company in terms of stock types such as common or preferred and limiting the number of shareholders. Even

ABLE act accounts are known to be tax-advantage savings accounts made for individuals with disabilities to care for themselves as well as their family. The ABLE act was created with the passing of Stephen Beck Jr., Achieving a Better Life Experience Act of 2014. Any contributions to an ABLE account are not considered to be tax-deductible, but the investment earnings from funds are to go untaxed as long as the money removed from the account are used for qualified disability expenses; such as medical treatment, and prescriptions not covered by government

4. Benefits of choosing to be S Corporation. According to Sec. 1361 and Reg.Sec. 1.1361-1, if Paula and Mary both consent to the special election made by the corporation, the corporation could be a S corporation so that in the first two years, Paula and Mary could use the loss to offset their income from other sources. If necessary, they could revoke the decision, turning the corporation back into C Corporation.

Accumulated advantage works in favor of our current class structure in several ways. First of all, accumulated advantage allows for a certain class to experience frequent success while the others must work ten times harder in order to achieve the exact same success. The reason accumulated advantage is able to maintain our current class structure is because of the ones in power, or in this case the ones whom are actually benefiting from the advantage will do whatever it is in their power to keep the structure this way. For example, when comparing the rich and poor, it is definitely clear that the rich are the ones who have the upper hand. These individuals simply have more opportunities open for them, while the poor, nine times out of ten fail

Kymlicka believes that nation-building is beneficial in developing the identities of the state, he further goes on to say that we can justify granting ‘special rights’ to the minorities in a liberal state to protect them from any injustices (Kymlicka, 2002). Kymlicka does not state exactly what he believes special rights to be, therefore it is open to many different interpretations. I do not find this argument plausible because there are many instances in which certain special rights allow the minorities to have more rights than the majority. This occurs in the case of honour killings and gender equality.

In the world of real estate and development, exactly what is dual occupancy? As the name suggests, dual occupancy homes are two houses built on the same piece of land that can be subdivided into two plots of land. It refers to constructing a second building or house on the same plot of land as a previously existing one, or knocking down the building and constructing two structures where the first one used to be. These structures can be freestanding or joined to each other. This method of construction is a common way to make a profit while investing in and constructing a new house at the same time.