Differences between “C” and “S” Corporations

Sole Proprietorships, one of the six types of business entities recognized by the U.S. government, usually grow, develop and become a Corporation. Now, under subchapter “C” of the U.S. tax code, all corporations are automatically recognized as C corporations unless business owners file for an “S” status (after all shareholders agree in writing to the S corporation election, they must make a timely filing of Form 2553 with the IRS). Taking no action, however, will mean that a corporation is and will remain a “C” corporation.

“C” corp and “S” corporations are types of corporate business entities, their difference is based primarily on ownership and how they pay taxes. With regard to ownership, number of shareholders in an “S” corporation cannot be more than 100, and all of whom must be U.S. citizens or residents. A “C” corporation, on the other hand, can have an unlimited number of shareholders who may also be non-U.S. citizens or non-residents.

On the issue of taxation, “S” corporations are pass-through tax entities, thus, no tax is paid at the corporate level since corporate profits and losses are reported on the tax return of shareholders. Under the “C” corp status,corporate profits are taxed at the corporate level – a case of double taxation, actually. This is because, as C corporations pay taxes, the amount of which is based on its corporate income, this same income, which is distributed to shareholders as dividends, is also the basis of the amount of personal income tax shareholders will be required to pay.

While the pass-through taxation enjoyed under the “S” corp status will definitely mean huge savings for shareholders, many corporations still choose the “C” corp status due to the absence of restrictions, such as having multiple classes of stocks, which is imposed on the S corp status.

Underlying the differences in taxation and membership, is the limited liability protection enjoyed by shareholders in both “C” and “S” corporations. Due to this limited liability, shareholders are, therefore, not held personally responsible for corporate debts and liabilities.

The law firm Russo, Russo & Slania believes that businesses should be given the all the legal assistance they need to make their business grow and flourish and which will help them avoid whatever critical errors could affect and hinder their success.

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How To Choose The Right Color For Your Hair

For many people, having colored hair can make them stylish and fashionable. But finding the right hair color is not easy as you think it to be. It goes beyond simply choosing a color you like. There are certain factors that need to be considered when selecting hair color. According to those who are experts in Houston hair and makeup, you need to take a look at the skin tone, natural hair color, and eye color.

How drastic will the color change be?

Choosing the right hair color requires a lot of contemplation on your part. Will the change be just for enhancing your look or you want a drastic change? Likewise, you should also consider the rules in your office or school if you want to change the color of your hair.

Get sample colors of what you want to be your hair like

You can get pictures or images of the hair color that you want. You can bring it to your stylist so they would have an idea of what you really want to do to your hair.

How about having a haircut as well?

While contemplating on the color, you can also decide to have a haircut as well. The shorter the hair, the less dye will be needed, the more money you will save.

Determine your skin tone

When choosing a hair color, check your skin tone first. Check your veins to see if you have cool or warm skin coloring. Another way to check your skin tone is through the colored paper test. This will help determine whether you are warm or cool toned.

Finally, you can check the color of your eyes to determine the right hair color. The color of your eyes should complement that of your hair.

So take these tips into consideration and you can look forward to getting the right hair color.

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Pursuing Product Liability Claim due to a Defective and Injurious Medical Product

In 2005, the U.S. Food and Drug Administration (FDA) approved the use of the DePuy ASR XL Acetabular metal-on-metal (MoM) hip replacement. This artificial medical product was intended as a longer and lasting alternative to metal-on-plastic and metal-on-ceramic hip replacement systems. Compared to the other two hip joint replacement products, this metal-on-metal hip replacement had higher resistance against deterioration and was designed to withstand more vigorous activities; thus, doctors saw it as as a more sound choice for younger and more active patients.

The hip joint, also called the ball and socket joint, is one largest joints in the human body. Its major function is to provide support to the upper body by supporting the upper body’s full weight while standing, walking, running, bending or stretching.

Full weight support and performance of regular activities (without experiencing pain), however, are possible only if the hip is completely healthy; once an injury or a disease damages the hip joint a person’s movements will definitely be affected.

Examples of injuries and diseases that can damage the hip joint include; a forceful blow, such as one created in motor vehicle accidents; falls, which can cause hip fracture; osteoarthritis, or wear and tear arthritis, which can result to the painful rubbing of the bones; and, rheumatoid arthritis, which is a result of the immune system mistakenly attacking the joints’ lining, causing inflammation in these joints. Though the hip is supported by strong and large thigh muscles, this it can be damaged if a person experiences any of the factors indicated above.

A damaged hip joint can cause persistent pain and can make daily activities quite challenging to perform. To correct this medical condition and so relieve patients from so much pain, doctors, since the 1960s, have recommended hip replacement surgery using a prosthesis, which is an artificial joint. A prosthesis is meant to improve the quality of patient’s lives and the function of their hips.

Hip replacement systems, however, had parts that rub against one another, discharging tiny particles inside its host’s body in the process. This problem was a more serious case where the metal-on-metal hip replacement product was used and, in order to correct the problem created, a reconstructive or replacement surgery was usually necessitated to repair joint failure and tissues damaged by the device.

Besides joint failure and tissue damage, the metal-on-metal hip replacement also caused: Metallosis or metal poisoning; Osteolysis or bone loss; Systemic metallosis or the inflammation of the whole body due to presence of metal ions; Pseudotumors or the development of tumor-like deposits around affected joints; and, Bone fracture, which is the weakening of the bones surrounding the hip implant resulting to their breakage.

As explained by a Wausau personal injury attorney, any kind of product, but more specifically, medical devices and drugs, should be clinically tested first to fully determine their safety and effectivity. If a medical device ends up causing harm to any patient, then this patient should think of filing a product liability claim against the defective product’s manufacturer to recover compensation for his/her injuries.

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Benefits of Pre-Employment Functional Testing

Workplace injuries can cause employers thousands of dollars in workers’ compensation claims. Aside from that, they would also have to pay sick leave benefits for the injured employee or employees. For this reason, companies started to look for ways they can reduce the risks associated with workplace injuries. This paved the way for the establishment of functional employment testing.  Such programs are designed to help avoid the risks associated with workplace injuries.

Workplace injuries can have a huge impact on the productivity of an employee. Studies have revealed that the expenses that employers would incur for administering pre-employment testing far outweighs the cost for workers’ compensation benefits. It has shown to reduce workplace injuries and missed work days. In recent studies, implementing functional employment screening has reduced the days lost due to injury by 90%. Likewise, functional employment programs have increased worker retention by 21%.

In addition, functional employment testing can also deliver financial returns to businesses. According to studies, employers received an estimated indirect return of $6 for every $1 spent. They also got a direct cost benefit of $3 to $18 for every dollar spent. Moreover, the cost per claim was four to seven times lower. Cost reduction were reflected in the reduction of the severity of the injuries due to decrease in medical expenses and lost work days.

Given these benefits, functional employment testing has slowly become the standard for site access in some industries. Time will come when such screening programs would become necessary to achieve compliance with requirements in some circumstances. In the future, job offers would become conditional unless the new hire has passed the pre-placement functional test. If the test is connected with the functional aspect of the job and the applicant fails in one or more components of the test, the employer has the legal right to rescind the offer.

While Title I of the Americans with Disabilities Act prohibits the discrimination of “otherwise qualified individuals,” it also allows employers to reject prospective employees if they deem that they will be a direct threat to the health or safety of other employees. This right is also protected by the Equal Employment Opportunity Commission.

 

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Truck Accidents – More a Fault of Truck Drivers

The enormous size and length of semi-trailers or 18-wheelers make maneuvering, especially making turns, challenging for truck drivers. This is why operation of a trailer truck requires special skills and training, and a series of tests. Only after a person completes and passes all requirements will he or she be issued a commercial driver’s license (CDL).

Of the 15 million trucks registered in the US, about 13% (almost two million) are semi-trailers, according to the National Highway Traffic Safety Administration (NHTSA). And of these two million semi-trailers, about 500,000 get involved in accidents which take the lives of 5,000 individuals every year.

Besides being harder to maneuver and requiring a much wider and longer maneuvering space, trucks also have blind spots or “no-zone” areas. “No zone” areas are spots around a truck where truck drivers do not (or almost do not) notice smaller vehicles. These spots, which include a truck’s front, sides, especially the passenger side, and the back area, are where most accidents occur. Other than truck drivers usually not being aware of the presence of smaller vehicles in their blind spots, there are many other factors that contribute to truck accidents. Some of these factors include: sleepiness and fatigue due to lack of sleep and driving longer than what is allowed under federal rules; use of illegal drugs; intoxication due to legal drugs (prescription and/or over-the-counter-drugs); intoxication due to alcohol, which results to impaired driving; speeding and driving too fast for road conditions; lack of focus on the road; driving distractions; failure to check blind spots; failure to make sure that the brakes are in good working condition; depowering of the front brakes; and, improper attachment of trailer. These and other factors, which fall within drivers’ control, are the most frequent causes of truck accidents. By combining accident records and the results of its own studies, the Federal Motor Carrier Safety Administration (FMCSA) is able to ascertain that majority of truck accidents are due to errors by truck drivers rather than to mistakes or carelessness committed by drivers of smaller vehicles.

In their website, personal injury lawyers from the Benton Firm mention how many truck drivers drive multi-state routes despite feeling fatigued. Thus, despite all safety precautions, many end up causing traumatic accidents.

The dangers trailer-trucks pose on the road make it a must for drivers to observe all proper safety measures. This refers not only to observing traffic rules but also to the observance of federal rules aimed at ensuring road safety, like getting proper sleep and rest, and not driving while impaired. In the event of an accident wherein the truck driver is at fault (or even partly at fault), the law requires that he or she (or the company where he or she is employed) compensate the victim for all the present and future damages resulting from the accident.

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