Sole Proprietorship Essay Example for Free

Sole Proprietorship Essay The sole proprietor is an unincorporated business with one owner who pays personal income tax on profits from the business. With little government regulation, they are the simplest business to set up or take apart, making them popular among individual self-contractors or business owners. Many sole proprietors do business under their own names because creating a separate business or trade name isnt necessary. Sole proprietorship is also known as proprietorship. There is no separate legal entity created by a sole proprietorship, unlike corporations and limited partnerships. Consequently, the sole proprietor is not safe from liabilities incurred by the entity. The debts of the sole proprietorship are also the debts of the owner. However, all profits flow directly to the owner of a sole proprietorship. The benefit of the sole proprietorship is the tax advantage. The disadvantage of a sole proprietorship is obtaining capital funding, specifically through established channels, such as equity (selling shares) and obtaining bank loans or lines of credit. As a business grows it often transitions to a limited liability company (LLC) or S Corporation. Ease of Formation Prospective business owners need not file any special forms with state, local or federal agencies to start a sole proprietorship. When registering the new business, as is necessary for all new businesses, the owner must state that he plans to run a sole proprietorship. This requires no special fees. Some states require the owner register a DBAdoing business asdocument with the office of secretary of state. Control Sole proprietors have full discretionary control over operations and business decisions. They decide when to hire employees, what to pay them about minimum wage and when to let them go. The business owner controls all financial decisions associated with the business and receives all of the business profit. He decides how or if to save or reinvest the money. The owner can choose to close, sell or transfer ownership at any time. Taxes Sole proprietorships owners file a one or two page form with the Internal Revenue Service called a Schedule C along with their personal income tax return. This schedule requires a simple listing of revenues and expenses. The owner may deduct automobile, office and other expenses from his income tax return under the supervision of a certified tax professional. Personal Responsibility for Business Debts Creditors can hold owners of sole proprietorships legally responsible for debts associated with the business. In addition, business related debts incurred by employees become the responsibility of the owner. Creditors may seize the owner’s home or other personal possessions as remedy for a defaulted loan. Those planning on starting a high- to medium-risk business may want to opt for a limited liability corporation or partnership structure. With this structure, business owners keep their personal property separate and it cannot be seized in the event of a business failure.

Genetic Engineering Brings More Harm Than Good :: Genetic Engineering Essays

Until the recent demise of the Soviet Union, we lived under the daily threat of nuclear holocaust extinguishing human life and the entire biosphere. Now it looks more likely that total destruction will be averted, and that widespread, but not universally fatal, damage will continue to occur from radiation accidents from power plants, aging nuclear submarines, and perhaps the limited use of tactical nuclear weapons by governments or terrorists. What has gone largely unnoticed is the unprecedented lethal threat of genetic engineering to life on the planet. It now seems likely, unless a major shift in international policy occurs quickly, that the major ecosystems that support the biosphere are going to be irreversibly disrupted, and that genetically engineered viruses may very well lead to the eventual demise of almost all-human life. In the course of the major transformations that are on the way, human beings will be transformed, both intentionally and unintentionally, in ways that will make us something different than what we now consider human. Regardless of the dangers, we are rushing full speed ahead on almost all fronts. Some of the most powerful multinational chemical, pharmaceutical and agricultural corporations have staked their financial futures on genetic engineering. Enormous amounts of money are already involved, and the United States government is currently bullying the rest of the world into rapid acceptance of corporate demands concerning genetic engineering research and marketing. In the 1950's, the media was full of information about the great new scientific miracle that was going to make it possible to kill all of the noxious insects in the world, to wipe out insect-born diseases and feed the world's starving masses. That was DDT. In the 1990's, the media is full of information about the coming wonders of genetic engineering. Everywhere are claims that genetic engineering will feed the starving, help eliminate disease, and so forth. The ideas and evidence presented below are intended to help evaluate that central question. Some scientists believe that, since genetic codes determine the appearance, personality, health, and aging process of human beings, if that genetic information in the chromosomes could be decoded and the genetic mechanism were understood, we could potentially control and improve our health, quality of life, and the biochemical processes in our bodies. In other words, we could control our own fate. Also, we'd be able to improve the genes of other animals and vegetables so that they could serve humankind better. At first sight, these ideas seem reasonable and attractive. However, careful analysis reveals that they are based upon an incorrect theory--the theory of gene determinism. Genes are often described as 'blueprints' or 'computer programs' for

Management of My Community Service Project Essay

Planning is the first and the most important function of management of a community service event. It defines the goals and objectives of the group and assigns specific duties to the individual members for completing the event within stipulated deadline (Even Education, n. d. ). For my community caring project, planning was given the topmost priority, and the team leader had called all the individual members for a meeting to prepare a strategic plan for completing the project within 3 days. The various activities were prioritized and assigned according to the timings available for each one of the three days. On day 1, the leader of our Fun Activities Unit divided the work into 4 divisions. For each division, a coordinator was assigned the responsibility to oversee the working of the team members. So there were 4 coordinators- 3 game coordinators, and 1 decoration-cum-refreshment coordinator. I was one of the game coordinators. Each game coordinator was assisted by 2 members, while the decoration-cum-refreshment coordinator was assisted by 3 members. The leader had clearly stated the goal of the project was to cultivate an interactive learning environment among the students of the orphanage through playing games. Every coordinator and member was assigned duties and told to communicate effectively with one another to prevent misunderstanding. Besides, all of us were told to work with a positive attitude and ask questions from the leader in case of any ambiguous situation. The leader also mentioned that children often learn by observing the seniors, and hence, we must behave professionally and work with collective responsibility. We had spent almost half of the first day in careful planning our activities for the 3-day event. All the necessary paraphernalia, such as the games equipment were assigned to the 3 game coordinators. We were reminded that among the four functions of management, planning shall occur throughout the event to help us achieve the goals and prevent any unexpected casualty. The activities were planned for the latter half of the 1st day and for the 2nd day as well. The task of distribution of munchies was kept for the 3rd day since it involved loading the munchies and chocolates into the truck for carrying to a rural area that had rough roads and adverse climate. Since everything was clear to us, the team leader gave the green signal to carry on with our assigned duties. The team leader also mentioned that we should keep the premises clean at all times. Besides, all the games equipments should be put back into their respective bags, while the leftover food should be thrown into the garbage bins. We were encouraged to retain high energy levels and serve the children with a smile as successful personal management yields to effective organizational management. However, in case of difference of opinions, we were told to immediately meet the leader to avoid the possibility of any conflict. Controlling To achieve the goals and objectives of the project, the task has to be effectively controlled while adhering to the other three functions of management i. e. planning, organizing, and leading. According to Management Study Guide (n. d. ), â€Å"Controlling consists of verifying whether everything occurs in conformities with the plans adopted, instructions issued and principles established. † For our community service project of inculcating a positive and fun-filled learning environment in the school for orphans, the team leader had managed an effective control over the 3 game coordinators, 1 decoration-cum-refreshment coordinator, and 9 members. The leader was a great communicator who patiently listened to the problems of the crew and suggested efficient solutions to overcome the anticipated obstacles. The leader interacted with the coordinators and members, which also provided enthusiasm to each one of us. Since it was my first volunteering experience, the leader helped me to develop the confidence and problem solving skills. The leader was not a dictator-type of manager but a real team leader who approached the crew members individually to take the progress report and ensure that all of us were carrying out the assigned duties according to the plan. At the end of each day, the leader called us for a short meeting to openly discuss the progress of every crew member. Besides, on the second day, the leader called for a short meeting of 5 minutes after every 2 hours for suggesting the necessary changes in the initial plan. The leader ensured that all of us were enjoying the event and were not stressed due to a different kind of experience, which many of us had never faced earlier. I noticed that our team leader had a great sense of humor, which also helped to ease out the tension that built on few occasions. Controlling is a continuous process that ensures delivery of quality and achievement of the goals within the deadline, and I must assert that the first two days of the community care project were highly successful. I must also reiterate that a leader is also a human who is unaware of a natural disaster, which had posed problems for us on the 3rd day. However, by effective control of the entire operation, we were able to bring the children to safety. It was quite a difficult time for us, but the leader had nerves of steel and a cool temperament. I and my associates saw the efficient management style of our leader, and we also joined hands to face all the hardships for saving the lives of children from a flood-like situation. By keeping control over anger and maintaining cool, our leader had shown exemplary skills in controlling an adverse situation. I need to assert that the control function of management enables the successful execution of a well-organized and carefully led plan as was appropriately demonstrated in our 3-day community care project. References Event Education. (n. d. ). Event Planning Tips. Retrieved June 6, 2010, from http://www. eventeducation. com/event-planning. php Management Study Guide. (n. d. ). Controlling Function of Management. Retrieved June 6, 2010, from http://www. managementstudyguide. com/controlling_function. htm

Essay about The Major Public Health Concern of Tobacco

The Major Public Health Concern of Tobacco Now, more than ever, more and more people are beginning to look at tobacco use as a major public health concern. It is nineteen ninety nine, and the number of smokers is rising while the average age of smoking initiation decreases. There are those that believe using tobacco of any type should be illegal, or at least restricted. Others believe it is up to the person to choose whether to use tobacco products or not, however most of these people believe tobacco companies should warn their customers of their products harmful affects. History Tobacco has been used since before our nation was colonized. During the seventeenth century, many British settlers earned their living in America from†¦show more content†¦In Wisconsin and Nebraska, possession of tobacco was illegal. All states banned the sale of tobacco to children. Despite the prohibitions placed on tobacco in the eighteen nineties, by the first World War, negativity towards tobacco began to fade. The lack of scientific e vidence that smoking was harmful at the beginning of the century, and the war effort increased the demand for cigarettes. People only suspected the addictiveness of Nicotine, but could not prove it. It was not until the mid nineteen fifties that smoking was linked to lung cancer and other illnesses. Also at this time, the Tobacco Institute was created. The Tobacco Institute is a lobby, or organization that seeks to influence lawmakers for their own benefit. Today in the nineties, tobacco is legal but restricted depending on where you go. Tobacco sales are restricted to minors, some places have banned vending machines, most have banned sale and use of tobacco in schools, and even more have prohibited the sale of single cigarettes, or free samples of cigarettes. Arguments for tobacco Since our nation was founded we have prided ourselves in the right and ability of our people to make their own decisions and be responsible for their own actions. There are those in our nation that believ e tobacco should be prohibited. These people feel that the free use and sale of tobacco infringes on their rights in some way. Others, smokers and non-smokers alike, feel that trying to stop everyShow MoreRelatedPolicy Position For Electronic Cigarettes Essay1453 Words   |  6 PagesPolicy Position for Electronic Cigarettes in Public Area Electronic cigarettes, which are commonly known as e-cigarettes, can be described as battery-powered devices that are packed with liquid nicotine. The liquid nicotine is a highly addictive chemical which is dissolved in a combination of propylene glycol and water. 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Excessive alcohol consumption and the associated negative health effects are a major public health concern since past and more recent studies. â€Å"Almost 4% of all deaths worldwide are attributable to alcohol† (Graham 1). Also, more than half of people who are frequent smokers started prior to the legal smoking age of eighteenRead Morelung cancer927 Words   |  4 PagesImmunotherapy and Vaccine Therapy. Research and advertisement has brought about much change to the public awareness. Many tobacco companies in North Carolina and nationwide have had to make changes to their products and sales. There are many causes of lung cancer and this paper will outline the major causes of lung cancer and discuss treatments. Public awareness, education and marketing better health coul d help prevent lung cancer. 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