Corporate taxes are filed through Form 1120, U.S Corporation Income Tax Return. This is an advantageous system from some businesses because corporate income is taxed at a lower rate than personal income under a certain level.
S corporations are legally incorporated entities whose tax status is treated the same as an LLC, with business income "passing through" to the owners' and partners' personal income and being taxed at personal income levels. It is increasingly less popular as an option because LLCs offer the same tax structure without the hassle of legal incorporation.
As important as choosing the right legal and tax entity is for a for-profit business, it is even more important for a nonprofit organization. Many nonprofits qualify for tax-exemption, but registering as a nonprofit with the state does not automatically make the organization a tax-exempt entity. In order to be considered a tax-exempt organization, a nonprofit must qualify as a 501(c)3 organization with the IRS. The IRS has strict regulations governing what sort of entities qualify as 501(c)3 organizations.
According to IRS's Exemption Requirements for charitable organization, in order to qualify as a 501(c)3 organization, a nonprofit must meet three important criteria. First, it must be "organized and operated exclusively for exempt purposes;" these purposes are limited to "charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, and preventing cruelty to children or animals" (www.irs.gov).
Second, none of its earnings may benefit any private interests or persons. The IRS has careful controls in place to ensure that no net income from 501(c)3 organizations inure to any private shareholders, their families, friends, or anyone else with a personal stake in the charitable organization (Ibid).
Finally, a 501(c) 3 organization cannot organize a substantial amount of its...
IR Theory In international relations theory, realists generally follow the rational choice or national actor with the assumption that states and their leaders make policy on the basis of calculated self-interest. They follow a utilitarian and pragmatic philosophy in which "decision makers set goals, evaluate their relative importance, calculate the costs and benefits of each possible course of action, then choose the one with the highest benefits and lowest costs" (Goldstein
This basically means that the criticism to feminist political theories resembles more the substance of other IR theories. 6. First off, we should discuss the differences between system level theories and state level theories. What are the benefits to studying international relations at the state level? What are the drawbacks? In its most basic formulation, state level theories of international politics refer to those ideas which place the country at the
There are ten Fraud Detection Centers across the United States, and these are meant to detect refund fraud and to identify prevention measures. Each of these offices has a Resident Agent in Charge to direct, monitor, and coordinate operations supporting electronic and paper tax filing, and each Center performs activities that include educating Submission Processing Center and Customer Service Center personnel on fraud awareness and detection. Criminal investigation in the agency
The economic condition of a country could also affect the Amcor Company. In the time of recession, the company was generally affected by the costs of labor, which affected the company profitability. Industrial Relations and Procedures The industrial relations cover all aspect of formal relations with Amcor Company's employee and its representatives. The purpose of industrial relations is to achieve a harmonize workplace. The workplace policies and procedures are communicated to
The weakness here is that, given the specificity of the situation analyzed in the article, the conclusions are not nearly as broadly applicable as the author seems to imply. Doubtless the conclusions can be related to other events to some degree, but the author himself acknowledges that a lack of experts on Somalia was instrumental in the ultimate failure of the intervention, and other countries would require other experts
Role of Media in Reporting Terrorism: Terrorist attacks have developed to become part of an indirect strategy to achieve political objectives through their impacts on an audience. In this process, the attention of the media has also served as an important channel that terrorists communicate with their audiences. Consequently, one of the major objectives of terrorist groups is to affect the degree and tone of media attention to their specific
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