How to Deal with Work-Related AccidentsWritten by Mart Gil Abareta
Having been involved in a personal injury in your workplace can really be embarrassing. It can bring you psychological stresses which are truly hard to deal with. Among most difficult effect of these incidents is mental distress. In this case, it may be hard for you to calculate exact amount that you’ll ask for compensation for psychological trauma that you have suffered from a work-related accident. Therefore, it is recommended that you contact a lawyer who can protect you from tricky plans of your employer especially when your case is still in court.
If you’ve been physically injured in your workplace, your first priority is to rest well and recover faster. Regardless of whether or not you’ll pursue an injury claim in court, you really have to recover first. However, process of recovery can be a bit hard for those employees who only receive minimum wages. Luckily, there are worker compensation laws that have been enacted to defend rights of those injured on their jobs.
During therapy, be ready to have a big blow in reclaiming your good spirits and responsiveness. Depending on type of damages that you have received, you might be able to place accident behind you easily. However, you must not mistakenly keep inside what has happened from really getting over it. There are lots of similar cases where an injured employee has recovered easily but has experienced later some signs related to mental distress that he has endured from accident.
S Corporation – What Is It?Written by Richard A. Chapo
For many small businesses, “S” corporation is business entity of choice. The “S” in S corporation refers to a tax designation. All corporations are created same way under state law. A small business must then chose a tax status, to wit, “C”, “S” or non-profit. Important issues concerning S corporations are covered in this article.
C Corporation v. S Corporation
Federal tax laws automatically consider every corporation to be a “C” designation. A small business, however, may elect to be designated as an “S” corporation by filing IRS form 2553. The election must be made prior to tax year in which it is going to be effective. All shareholders must sign election.
A C corporation stands alone for tax purposes. It must file tax returns and pay taxes on profits. Profits and losses are reported on corporate tax return and do not pass through to shareholders. C corporations can elect any calendar month as end of their fiscal year.
An S corporation is a pass through entity for tax purposes. It does not file a tax return for purpose of paying taxes, but does file information returns. All profits and losses are passed through to shareholders. In turn, each shareholder reports profit or loss on his or her individual tax returns in proportion to their ownership interest. For instance, if you own 30% of total issued shares, 30% of profits or losses must be reported on your personal tax returns. S corporations must have a fiscal year-end of December 31. If you intend to eventually take your business public, you cannot use an S corporation.