Limited Liability Corporation and Limited Liability Partnership Essays

Limited Liability Corporation and Limited Liability Partnership Essays Limited Liability Corporation and Limited Liability Partnership Corporation Paper 10/11/2015 There are many different organizations to choose from when starting a business. Amongst the many different choices there are partnerships and limited liability corporations. A partnership consists of at least two people and each person possesses limited liability; and with a corporation, each person possesses limited liability, but the corporation has full liability. Here, the roles of partnerships and limited liability corporations will be explained. Also, under what circumstances in which a limited liability corporation or partnership is chosen over the other will be stablished. A limited liability corporation is defined as similar to a corporation, owners have limited personal liability for the debts and actions of the LLC. Other features of LLCs are more like a partnership, providing management flexibility and the benefit of pass-through taxation (Internal Revenue Service, 2010, para. 1). LLC members are not limited as to the number of corporations they may take part; however, they are limited as to the percentage of interest in other corporations (Gitman, 2006). Limited Liability Corporation has a distinctive quality of being organized like an ordinary corporation, and possessing the qualities of a partnership. In a Limited liability corporation, the owners are sheltered from personal liabilities, which possess similarities to a corporation, but have the tax benefits of the partnership. This means the business creditors may not pursue possession of any of the personal assets of members apart of the LLC to mend any business debts. Also if a member of the LLC has any personal debt, the creditors may not attempt to mend any debts from the corporation. LLC owners, also called "members," have the choice of managing their businesses or hiring professional managers. In addition, LLCs benefit from a substantial amount of flexibility. For example, they can have as many members as they like, and corporations are allowed to be members. LLCs are granted freedom from the state-mandated membership and management reporting requirements that corporations have. Most importantly, LLCs do not have to pay taxes. Instead, their earnings and losses are distributed through to the tax returns of their members just like a partnership would. Limited Liability Partnership is another name for a limited liability company, often used by professional associations (InvestorWords, 2011). The liability of the investor or partner is limited to the amount of money they have invested in the company. This arrangement usually prevents each partner from being held accountable for the misconducts of another partner. Limited liability partnership can be utilized in many different fields, but is most frequently used in law or accounting firms. The laws regarding a LLP vary significantly from state to state, and between countries. A limited liability partnership is a business structure intended for partners who want the same amount of say in managing their business, but not an equivalent share of the liability. Any partner apart of a LLP is not responsible for the debts or liabilities of the other partners involved. This makes the LLP appealing for professional service organizations such as accounting, architecture, or law firms. Business owners are faced with many hard decisions, like what business structure to use in the formation of their company. Opening a business as a limited liability corporation would be the ideal choice because the LLC gives partners more advantages with fewer restrictions. There can be as many investors as one wishes and these investors, or members, can also have as many members as they want, so on and so forth. Opening a business is taking a chance and taking a chance with the LLC has less risk. A LLC offers company owners and investors protection from any discrepancies or any indiscretions that the partner may have gotten involved in. A LLP allows owners and investors to be responsible for what they put into the business. Although both the LLP and LLC were created to help business owners and investors protect their businesses and both are beneficial, the LLP is the best business choice. If there is a need to include any other partner for the running of a business, a LLP is a better alternative. References Business Dictionary.com (2011). WebFinance, Inc BusinessDictionary.com. Retrieved from businessdictionary.com/definition/visionstatement.html Gitman, L. J., & Zutter, C. J. (2015). Principles of Managerial

Bruce Lee Speech

Gangs ruled the city streets and Lee was often forced to fight them. Bruce’s street fighting began to escalate * Eventually, Lee’s father decided for him to leave Hong Kong to pursue a safer and healthier avenue in the United States New Life in America While in the United Lee abandoned thoughts of a film career in favor of pursuing martial arts but a martial arts exhibition on Long beach led to the invitation for the role of Kato in the Green Hornet and many other movies including the big Boss which was a big success and catapulted him to stardom. Followed by Fist of Fury and Way of the Dragon where he was given complete control of the film’s production as the writer, director, star, and choreographer of the fight scenes. * In 1964 Lee had met Karate champion Chuck Norris. * In the movie Way of the Dragon He introduced Norris as his opponent in the final death fight. Today considered one of Lee’s most legendary fight scenes and one of the most memorable fight scenes in martial arts film history Essentially bruce lee became obsessed with martial arts and fitness FITNESS AND NUTRITION * HIs interpretation of keeping in shape was constant daily workouts. His workout consisted of three categories: martial arts sparring, weight training, and extensive AB training. * The workout first consists of hours upon hours of martial arts sparring. Secondly, a series of heavy weight training of his main muscles. Finally, is his extensive workout towards his ABs. Bruce Lee’s favorite muscle was his ABs and whenever he had time, such as watching TV, he would do sit-ups or crunches. Bruce Lee had what most people called â€Å"washboard ABs† and was not afraid to show it, you can see this in almost every fight scene he had in his films. * PHYSICAL FEATS: Lee could land a punch in around five hundredths of a second (0. 05 second) from 3 feet away * Lee could snatch a dime off a person’s open palm before they could close it, and leave a penny behind * Lee performed one-hand push-ups using only the thumb and index finger Bruce not only took care of his body by working out but as well as having a proper nutrition. Lee took nutrition seriously and his diet consisted high-protein drinks, vitamins, mineral supplements, green veggies and fruit every day. UNFORTUNATELY HE SUFFERED A SUDDEN DEATH ON DEATH AND LEGACY: * On July 20, 1973, just one month before the premiere of  Enter the Dragon, Bruce Lee died in Hong Kong at the age of 32. The official cause of his sudden and unexpected death was a brain edema, found in an autopsy to have been caused by a strange reaction to a prescription painkiller he was reportedly taking for a back injury. Controversy surrounded Lee’s death from the beginning, as some claimed he had been murdered. Summary: * Bruce Lee, pound for pound, was arguably the greatest fighter of our time. Twenty-four years after his death, he remains the standard by which all other fighters are measured. His passion, skill, charisma, philosophy, and innovative martial arts concepts brought him worldwide acclaim– incredibly, all by the age of 32. In such a short span, Lee managed to accomplish more than most of us will ever achieve in our lives. Bruce Lee Speech Gangs ruled the city streets and Lee was often forced to fight them. Bruce’s street fighting began to escalate * Eventually, Lee’s father decided for him to leave Hong Kong to pursue a safer and healthier avenue in the United States New Life in America While in the United Lee abandoned thoughts of a film career in favor of pursuing martial arts but a martial arts exhibition on Long beach led to the invitation for the role of Kato in the Green Hornet and many other movies including the big Boss which was a big success and catapulted him to stardom. Followed by Fist of Fury and Way of the Dragon where he was given complete control of the film’s production as the writer, director, star, and choreographer of the fight scenes. * In 1964 Lee had met Karate champion Chuck Norris. * In the movie Way of the Dragon He introduced Norris as his opponent in the final death fight. Today considered one of Lee’s most legendary fight scenes and one of the most memorable fight scenes in martial arts film history Essentially bruce lee became obsessed with martial arts and fitness FITNESS AND NUTRITION * HIs interpretation of keeping in shape was constant daily workouts. His workout consisted of three categories: martial arts sparring, weight training, and extensive AB training. * The workout first consists of hours upon hours of martial arts sparring. Secondly, a series of heavy weight training of his main muscles. Finally, is his extensive workout towards his ABs. Bruce Lee’s favorite muscle was his ABs and whenever he had time, such as watching TV, he would do sit-ups or crunches. Bruce Lee had what most people called â€Å"washboard ABs† and was not afraid to show it, you can see this in almost every fight scene he had in his films. * PHYSICAL FEATS: Lee could land a punch in around five hundredths of a second (0. 05 second) from 3 feet away * Lee could snatch a dime off a person’s open palm before they could close it, and leave a penny behind * Lee performed one-hand push-ups using only the thumb and index finger Bruce not only took care of his body by working out but as well as having a proper nutrition. Lee took nutrition seriously and his diet consisted high-protein drinks, vitamins, mineral supplements, green veggies and fruit every day. UNFORTUNATELY HE SUFFERED A SUDDEN DEATH ON DEATH AND LEGACY: * On July 20, 1973, just one month before the premiere of  Enter the Dragon, Bruce Lee died in Hong Kong at the age of 32. The official cause of his sudden and unexpected death was a brain edema, found in an autopsy to have been caused by a strange reaction to a prescription painkiller he was reportedly taking for a back injury. Controversy surrounded Lee’s death from the beginning, as some claimed he had been murdered. Summary: * Bruce Lee, pound for pound, was arguably the greatest fighter of our time. Twenty-four years after his death, he remains the standard by which all other fighters are measured. His passion, skill, charisma, philosophy, and innovative martial arts concepts brought him worldwide acclaim– incredibly, all by the age of 32. In such a short span, Lee managed to accomplish more than most of us will ever achieve in our lives.

Historiography of the Failures of the Late Medieval Papacy Essay

Historiography of the Failures of the Late Medieval Papacy - Essay Example Particularly, their views on the causes of the fall of the papacy between 1400 and 1800 will be reviewed and compared. Reasons Ullmann’s main position with regards to the decline of the papacy during the late Middle Ages is that it was caused by the Church’s secularization. He has provided several arguments for this position. The most important of these is the allusion to the Great Schism that culminated in 1400s as the greatest crisis in the history of papacy, which, according to him, finally sank the institution enormously in European regard, dragging the Church with it as the world watched deeply pained and scandalized with the way the Church conducted its affairs during the period. There are several underlying issues entailed in this event. And these are excellently demonstrated in the way Ullmann recounted the elections of the pope. He cited the year-long process wherein the College of Cardinals elected a pope early in the fourteenth century with such bitterness of the debates and intrigue. A French-sponsored candidate was elected and because of this the papacy was moved to France wherein six consecutive French popes ruled until 1377 when the papacy finally returned to Rome. The election of the next pope saw rioting in Rome, as people clamored for a Roman pope, fearing further French influence. Ullmann highlighted how conclave, fearing for their lives, elected an Italian, who turned out later on to be not of their liking. According to Ullmann, the Reformation is not the fundamental reason for the decline of the papal authority and power. It was the succession of individuals whose sole qualifications were their wealth and Italian social status that made the papal institution fade into the background. The series of developments afterwards would then become the height of the so-called Great Schism, which severely damaged the papacy. Several popes would hold office at the same time, with a number of Church councils asserting their power further a ggravating the situation. Ullmann identified the Fifth Lateran Council, the last medieval council that aimed to reform the Church, as one of the demonstrations by which the Great Schism has damaged the papal institution: The papacy here showed itself in perhaps its worst light: instead of insisting upon the enforcement of the law it dispensed with from the observation of these decrees. And in so doing the whole panoply of papal weapons including the plenitude of power, was invoked. In a way, the fifth Lateran Council was a conciliar swan song of the medieval papacy and the precursor of Trent in this same century.1 Meanwhile, Misner also echoed Ullmann’s position, that the Church decline as undermined by the papacy has been a consequence of the corruption of the popes. Central to this argument is the system of infallibility, which, in Misner’s view, â€Å"formed a vicious cycle in which the Roman communion had imprisoned itself without hope of escape.†2 An import ant variable must be highlighted here. Misner also believed that the papal institution and the mechanisms and systems that it entails, had, not only corrupted the personalities that held the office but also provided no means of escape or alternative for a pope to pursue reform or impose a righteous regime. He noted that the pope was merely a figurehead and instrument of the system and that the Pope’s primacy could only be sustained if he upholds a corrupt system. The corruption

Insurance case study Example | Topics and Well Written Essays - 500 words

Insurance - Case Study Example shows that he gets around $6Â  875 but there are other factors that need to be taken into consideration with regards to the actual net income he will get. This gross income is subject to tax deductibles. The other issue that the Walter should seriously take into consideration is that he is still young and his family is young too. His family history of BP prevalence makes it imperative for him to prioritize his healthcare issues. It is therefore recommended that Walter should make sure that he together with his family are fully covered in terms of health policies instead of focusing on other activities that are considered luxury. It is imperative for Walter to review his monthly income and expenditure in order to be able to draw a budget that is commensurate with the disposable money available. Walter risks incurring debts that may pose a burden to him if he fails to concentrate on basic things such as life and health insurances on top of other needs. On the other hand, it can be noted that Jessica’s monthly income is little and not consistent since she survives on part time jobs. There are other issues such as tax implications that cannot be evaded so Jessica should make sure that she operates within budget in order to be in a position to meet basic needs in life. Instead of craving for fancy things which expensive at the same time, it is recommended that Jessica should at least focus on pertinent issues that will secure her life in the event of unprecedented scenarios happening. Buying an expensive car on credit does not add value to their lives. Life and health insurances are more important than other luxury expenses that seem to gobble much of her income. In this case, Jessica should revise down expenses such as entertainment, clothing as well as groceries. Essentially, Jessica should prioritize life and insurance issues considering that her children are also under her custody. Indeed, she has responsibility for them. In order to be on the safe side given her

Will the European Union Survive? :: European Union Essays

"Europe must prevent Greece from becoming an out-and-out catastrophe and make sure that the same fiscal 'remedy' is not applied to other weak economies" -- Franziska Brantner. The EU (European Union) has gone thru many changes. For some countries it has been a blessing and a huge success. For others adapting to a single currency and marketplace has been quite a struggle. The EU hopes to expand even further with the introduction of more states and become one of the largest marketplaces in the world. But will the EU survive in the long term? Is it really of benefit to its members? The EU was established in 1993. It was the EEC (European Economic Community) before that in 1967 and the ECSC (European Coal and Steal Community) in 1951. Its main focus has been for the economic development of its members. Now it seems to be more focused on government, social and legal issues. But the primary reason for the EU was to create a united states of Europe. The objective for this union is to create free trade among member states creating a more competitive market place thus developing competition and in doing so giving a better standard of living for its people. This could be said true for one of its members, Ireland. Ireland has been a textbook case for the EU. Obviously each country in the EU has its different experiences with membership. Ireland has been quite the model EU member in its ability to adapt to the concept of the EU and has seen its GDP almost double in size. Currently Ireland holds the presidency for the EU and will play host to the introduction of the newer members this summer. But has Ireland really benefited from its membership or is its success due to its nearest neighbor west, America. Since its independence from the United Kingdom in 1940 Ireland has had to establish its own economy independent from British rule. Prior to this time being a part of the British Empire guaranteed commercialism for ones country. Although it could be said to be one-sided the British Empire relied on its colonies for trade. In some respects Ireland was not an industrialist nation and was predominantly an agricultural country. In order to succeed and further develop itself she had to change its way of doing business. One of the first orders of business was to introduce a better educational system.

Children and Young People Behaviour Essay

Describe the benefits of encouraging and rewarding children’s positive behaviour. It is a necessity for a care provider to reward positive behaviour as positive reinforcement is vital for a child’s development. If you only punish a child for negative behaviour and not rewarding positive behaviour as well it will make the child develop a distort view of cause and affect, leaving them unsure of what is positive behaviour. This will then lead onto the child acting in a negative way in order to receive attention as it’s the only way they know how to get attention. Encouraging and rewarding positive behaviour balances out this problem and makes children want to try and receive positive rewards. The child will learn that doing something good will give them the right attention that they deserve and less likely to act out in a negative way for attention. Rewarding a child for their good behaviour encourages them to want to try new things so that they can receive even more praise therefore giving them more confidence and self-esteem. The confidence to try new things allows the child to learn new things and develop in many different ways. Care givers should be aware that not all rewards have to be big and a simple high five and a smile or a sticker will encourage a child to maintain good behaviour. For example if a child is learning how to write the letters, saying â€Å"well done† and giving the child after each attempt will make them want to keep trying until the can write the letter correctly. Describe behaviour problems that children and young children may display at different ages and that should be referred to others. Whom should these be referred to? Young children may develop a number of different â€Å"behaviour problems† during their development. A common behaviour problem is biting which normally starts around the age of 18 months. Although it may seem as if the child is being aggressive it is important for care providers to remember that it is a form of exploration, children use their mouths to explore as it is one of the most developed parts of their bodies. Infants don’t have self-control at this young age so they could bite someone when they feel excited or even for no reason and because they see something close that they can bite. When this trait continues when the child is a toddler it is still out of frustration, if a child is unable to communicate using their words they get frustrated not being able to get their message across therefore bite instead. Care providers should speak together with the child’s parents or guardian in rder to devise a plan of action on how to handle the situation. However if the situation is still a behaviour problem for a child who is over the age of 3 years it will be taken more seriously as the main causes for biting are no self-control and lack of communication but at this age most children have both of these qualities so their reason for biting may be different such as attention seeking. Further help may need to be asked for by a specialist in behaviour management in order to find a speci fic solution for the behaviour problem. Temper tantrums occur for most toddlers. The reason that temper tantrums are used as the child gets frustrated that they can’t control their environment around them and the actions of others. For example if a child asks to go and play outside but the care providers at their nursery tells them no they would throw themselves on the floor and shout, the beginning of their tantrum. Language has not fully developed for toddlers so they may not understand why they may not be allowed to do what they wish. It has been shown through studying young children that a high percentage of children will snatch toys, push other children over or fight with other children. They may not have reached the stage in their development when they understand some things are theirs, some things belong to others and some things are shared between children (for example nursery toys) At the age of 5 years this is when a child would transition into school. This may be due to separation anxiety or having to interact with people they are not familiar with. Trouble adapting to their new environment could cause behaviour problems such as not wanting to operate with the new rules in their school. However at the age of 5 language is much more developed and parents can explain to the child and reassure them to make them feel more comfortable and get used to their new environment. Although they have come very far in their development by this age there are still more things for a child to achieve from the age of five years. This can result in the child becoming very frustrated with themselves if they can’t do something â€Å"perfectly† as they may not get the results they want when completing a task such as drawing a picture of their parents. At the age of five years the child may also try to test limits as they are exploring their independence. This will be shown through talking about or simple not listening to instructions when told to do something. Whining and tantrums are also sometimes still common at this age as the child has only recently left pre-school and have not developed enough to understand that there are other ways of expressing themselves. In order to resolve this behaviour problem it is down to the school to keep reminding the child what is expected of them and try to encourage and reward positiove behaviour. Talking to parents is key as you can work together to try and resolve a problem that may only be temporary due to the child’s age. It is important for both parents and child providers to remember tat what may seem like disobedience may simple be a lack or language or lack of attention and most cases of â€Å"disruptive behaviour† will be grown out of as the child develops in all aspects. For example a child of two and a half years has not developed many communication skills so growls at the other children in the pre school instead of talking. Although this behaviour is unacceptable the child should simple be spoken explaining that its not nice and focus on the underlying problem which is the speech elay and try to encourage the speech instead. If through the helkp of the care providers at the pre school and the parents can’t speed along the speech then a speech and language specialist may be needed in order to help the child.

The Marriage of Heaven and Hell Essay - 922 Words

The Marriage of Heaven Hell William Blake The Romantic Period We, as members of the human race, have been endowed with five senses. We have the ability to reason and to be reasonable. We are able to present, receive, and mentally process information logically. The period in history when the importance of these innate functions was stressed is known as the Age of Reason, or the Enlightenment. Also important to this age was the use of science, scientific methods, and theories. This period in history lasted until roughly 1774. The Romantic Period followed period of Enlightenment. This age was the exact opposite of the Enlightenment. Tremendous importance was placed on the imagination. The authors, poets, and artists of†¦show more content†¦The most significant example of Blakes illustration of the prophetic is his ‘conversation with Isaiah and Ezekiel Ââ€" two biblical prophets/poets (12-13). Blake then becomes prophet himself in Plate 14 when claims to have heard from hell that, The ancient tradition that the world will be con sumed in fire at the end of six thousand years is true. This ‘prophecy is based on 2 Peter 3:8 of the Christian Bible. The romantic period is also characterized by motifs that are almost always present. One that is extremely prevalent in Blake The Marriage of Heaven Hell is the cult of genius. According to the poets of the Romantic Era, one had to possess poetic genius in order to be a poet. Blake refers to this a lot in this particular poem. For example, in Plate 6, he says, As I was walking among the fires of hell, delighted with the enjoyments of Genius:. . . Blake, like most of the poets in this era, had no problem admitting that they were poetic geniuses. Actually, they prided in this idea. Another motif that is often found in the literature of this era is nature, or nostalgia. There are references to nature just about everywhere you look in this poem. The first few are located in the first plate. Blake references roses where thorns grow, a river, a spring, singing h oneybees, and the wilds where lions roam. There can also be found constant references to nature in the Proverbs of Hell, especially those in Plate 7. EvenShow MoreRelated The Marriage of Heaven and Hell Essay2342 Words   |  10 PagesThe Marriage of Heaven and Hell Although many of the Romantic poets displayed a high degree of anxiety concerning the way in which their works were produced and transmitted to an audience, few, if any, fretted quite as much as William Blake did. Being also a highly accomplished engraver and printer, he was certainly the only one of the Romantics to be able to completely move beyond mere fretting. 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