Making Your Business Legal

Written by Brett Krkosska

It's important that your business be onrepparttar "up-and-up" right fromrepparttar 119302 start. Taking care ofrepparttar 119303 legal issues associated with starting a new business will keep you out of hot water inrepparttar 119304 future.

Here arerepparttar 119305 first steps you need to take:

1. Register Your Business Name

Your business name must be registered if it is something other than your full legal name. This is a way of informingrepparttar 119306 public that you will be doing business as (DBA) an assumed, or "fictitious" name. Generally, a search is done to ensure your name is not already in use, and an application is submitted to make it official. Some states require a notice be published inrepparttar 119307 local newspaper. The details of registering varies from state to state, so check with your state office or county clerk for specifics.

2. License Your Business

Licensing of your business depends onrepparttar 119308 type of business you plan to start. Licensing occurs onrepparttar 119309 state and/or local level. Federal licensing is only necessary for businesses who engage in specific, controlled activities (things such as making firearms, alcohol, tobacco, etc.). Many cities, but not all, require a general business license, plus there may be a license required for your particular business type. You should contact your state and city clerk offices to find out what licenses you need.

3. Report Income Tax

You are responsible for filing and paying income taxes on your business. Assuming your business is a sole proprietorship, you will pay income tax on your net profits. You report your income tax using Form 1040 at tax time, withrepparttar 119310 additional requirement of filing Schedule C or C-EZ: Profit or Loss From Business. You can get IRS Publication 334 (Tax Guide for Small Business) for more information. Visitrepparttar 119311 IRS online at for publications and detailed filing requirements.

4. Pay Estimated Taxes

If you expect to owe more than $1,000 in federal taxes, you need to make estimated payments quarterly. This may seem like a burden at first, but it actually protects you from having a big payment due at tax time. You can learn more about this from IRS Publication 505: Estimated Tax Payments.

Flying The Unfriendly Skies

Written by Greg Hickman

The skies of America’s airline industry are anything but hospitable these days. Operational costs are up, profits (what profits?) are nonexistent, fuel costs are going throughrepparttar roof and labor problems seem to always be looming onrepparttar 119301 horizon.

The entire airline industry, withrepparttar 119302 notable exception of Southwest Airlines, has made losing money an art form. Sincerepparttar 119303 deregulation ofrepparttar 119304 airline industry in 1979, a number of major carriers (including Eastern, Braniff and Pan Am) have gone under while scores of other carriers have filed for bankruptcy protection.

Aboutrepparttar 119305 last thingrepparttar 119306 airlines needed were a pack of litigation crazed lawyers looking to score some nice pocket change - but that’s exactly what they got.

Some ofrepparttar 119307 lawsuits filed by airline chasing lawyers includerepparttar 119308 following:

Economy class syndrome. Airlines are bracing themselves for lawsuits being brought by hundreds of passengers overrepparttar 119309 condition known as deep vein thrombosis (“DVT”). DVT, now commonly known in legal circles as “economy class syndrome” since this condition allegedly tends to afflict passengers on long haul flights, occurs when a blood clot forms due to hours of immobility and cramped seating.

Oncerepparttar 119310 passenger leavesrepparttar 119311 plane,repparttar 119312 blood clot may become dislodged and then travel to a vital organ and have a deadly result. Lawyers are citing that airlines have known about this problem for years and have failed to adequately warn their passengers. There’srepparttar 119313 key torepparttar 119314 piggy bank. Lawyers looking to win millions always claim thatrepparttar 119315 big company knew aboutrepparttar 119316 problem and failed to correct it (rememberrepparttar 119317 cigarette lawsuits?).

Isrepparttar 119318 evidence conclusive? Of course not. Does that matter torepparttar 119319 lawyers looking hovering overrepparttar 119320 airline industry.? What do you think? These lawsuits haverepparttar 119321 potential for massive pay-outs, sincerepparttar 119322 airlines have deep pockets to pick. In It’s Time to Wake Up and Smellrepparttar 119323 Lawyers, we examine how money grubbing lawyers always gravitate towardsrepparttar 119324 deep pocketed companies. No big surprise here.

Toxic air onboard. Another hotbed of lawsuit activity concerningrepparttar 119325 airline industry involves toxic air inrepparttar 119326 passenger cabin. Airlines and airplane manufacturers are getting hit with a flurry of “toxic air” related lawsuits.

Various lawsuits brought by flight attendants allege that some airlines andrepparttar 119327 companies that manufacturedrepparttar 119328 aircraft have known (bingo!) thatrepparttar 119329 MD-80 and DC-9 aircraft have design flaws that make it easy for leaking chemical fluids to get sucked intorepparttar 119330 auxiliary power unit (a small turbine engine used to generate electricity and circulate cabin air before takeoff) and then mix withrepparttar 119331 cabin air. Naturally,repparttar 119332 defendants denyrepparttar 119333 claims.

After a group of Alaska Airlines flight attendants garnered a $725,000 out of court settlement regardingrepparttar 119334 claims, Boeing and Honeywell were next onrepparttar 119335 hit list. The fun had just begun.

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