Limitations Of The Old Classification Regulations

Generally, an entity is taxed as either a corporation or a partnership and in the past there were major differences between the two, specifically, limited liability. The main benefit of a corporation was limited liability, while a partnership was subject to individual liability for partnership debts. Partnerships began to devise new configurations that were aimed at limiting their liability. They succeeded in creating limited partnerships, which took the main advantage of a corporation and shared that advantage with partnerships. The elimination of the limited liability distinction between corporations and partnerships came the need for a new entity classification system. However, the basis of the old classification regulations was†¦show more content†¦In the facts of the case, the Court discovered that the trustees â€Å"had authority to acquire and operate a golf course, receive the profits therefrom, make loans and investments, make regulations governing the trust, increase the number of trustees, and choose their successors. The Court further ascertained that the trust was to continue for a period of twenty-five years and would not dissolve upon the death of a trustee.† It was from these facts, that the Court decided the trust would be treated as a corporation for tax purposes. Also from this case, came the five characteristics that were used to determine if an organization was to be treated as a corporation for tax purposes in the Kintner classification regulations. Those characteristics were: (1) ability of the organization to hold title in property, (2) continuation of the organization without interruption by the death of an owner, (3) centralization of management, (4) free transferability of ownership interests, and (5) limited liability for the organization’s debts. The Kintner regulations came from the case of United States v. Kintner. In Kintner, the United States Court of Appeals for the Ninth Circuit was to decide whether an association of doctors would receive corporate tax treatment despite the fact that the organization was a partnership for state law purposes. â€Å"The doctors structured a state law partnership to meet the definition of an association in order to take

Latino/Hispanic Americans Essay - 2557 Words

Latino/Hispanic Americans cover a much wider demographic then believed. Latino/Hispanic Americans consist of; Mexican, Puerto Rican, Cuban, Guatemalan American to name a few. Latino/Hispanic Americans are the largest ethnic group in the United States. The Latino/Hispanic culture is very different than ours. Their culture differs in economics, politics, family traditions, family structure, religion, education, language, fashion, art, music, dancing, and food. As natural born Americans in the United States it is important for us to learn about the different cultures migrating into the United States. Many United States citizens have a hard time understanding other cultures; being culturally insensitive is a common theme in the United†¦show more content†¦Many workers work in jobs that pay them under the table or in horrible conditions. â€Å"Latino households can expect to earn 70 cents to a dollar less than the average white person makes. Hispanic households make 12 c ents to a dollar less than white non-Hispanic people† (Schaefer, 2012, P. 224). With Latinos and Hispanics working under the table, they are not making as much as they would make if they were earning a paycheck legally. Since they are also sending money home to their families they have very little left of what they do earn for themselves. â€Å"Out of the last quarter century, the proportion of Latinos in poverty has been two or three times that of white non-Hispanics† (Schaefer, 2012, P. 224). With the average American battling to stay above the poverty line, more of the Latino and Hispanic communities are below it because of the financial obstacles in the way. Latino and Hispanic populations have been rapidly growing in the United States. â€Å"In 1975 congress addressed citizens with multilingual backgrounds† (Schaefer, 2012, P. 226). Many Latino and Hispanic Americans want to become legal so they can participate in the political position of being a Uni ted States citizen. Latino and Hispanic Americans want to be able to vote in upcoming elections. Since the increase in their population and the decision of congress in 1975; more ballots are being made to be English and Spanish depending on the particular country, city or state (Schaefer, 2012, P.Show MoreRelatedLatino Americans And Hispanic Americans1114 Words   |  5 PagesHispanic Americans are the largest minority group in the United States. They make up approximately 16 percent of the country s population. They are considered both an ethnic and a racial minority group. Their language, a cultural characteristic, identifies them as an ethnic minority group. Their physical appearance identifies Hispanic-Americans as a racial minority group (Healy 2012). The majority of the Hispanic American population is located in the southwest part of the country. 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Role Of Leader And Followers Free Samples †MyAssignmenthelp.com

Question: Discuss about the Role Of Leader And Followers. Answer: This essay discusses my personal experience while I was working as a team leader in an organization. My team consisted of five members and we were responsible for managing the product launching section of the company. In that case I was solely accountable to my higher authority and played the role of leader to my followers simultaneously. However, the company needed fresh and new ideas to gain high competitive advantage therefore I maintained an open communicative as well as amiable relationship with all the team members. I took care of my speech and action so that none of my followers think that I played biased. However, I respected and admired my immediate boss and wanted to follow al his traits so that I also could be as successful leader as he. As a follower I used to observe each and every decision of my leader which he made according to the need of the situation. I believe a good follower can be a good leader as they apply what their leaders think (Wambugu 2014). Moreover, recent change in the technologies as well as culture, the dynamic followers have become powerful. The leader of my company was aware of the social circles, families, religion or other setting of the employees so that he could manage people according to their terms. It is important for a leader to have diplomatic decision making power while any kind of disagreeable situation emerge. I as a follower had learnt from my leaders how to get along with the differences without ignoring them. It is an important leadership trait because my leader could not afford to be oblivious to the different attitude in the organization. However, this needs enormous strength and courage to solve such problems and transform them into energy as well as activism. I as a leader never dominated my followers rather believed in heightening the quality of relationship with the members. I felt myself as one of the members of my team. This helped greatly in contributing new ideas, recommendations and perspectives in functioning. My team members were satisfied with the resources, information and support they needed to accomplish a task successfully (Wang et al. 2016). The most important factor of leadership I believe was keeping the fellow members motivated through every possible way (Trujillo 2014). Through proper planning, organizing, motivating and controlling the employees I supported my team members in every possible way. Following the participative leadership concept, I consulted with the members and evaluated their opinions before I made any decision. Due to this reason I was respected as well as followed by my team members. Collaboration and critical thinking are major factors where the leaders recognise the accountability and contribution of the fellow team members. As a leader I believed that I must become a good combination of ambition and patience where my vision will guide my fellow workers but allowing them to provide best ideas for business growth. I appreciated my fellows to support the success of the group. References: Trujillo, T., 2014. The modern cult of efficiency: Intermediary organizations and the new scientific management.Educational Policy,28(2), pp.207-232. Wambugu, L.W., 2014. Effects of Organizational Culture on Employee Performance (Case Study of Wartsilakipevu Ii Power Plant).European Journal of Business and Management,6(32). Wang, X.Y., Hattaf, K., Huo, H.F. and Xiang, H., 2016. Stability analysis of a delayed social epidemics model with general contact rate and its optimal control.Journal of Industrial Management Optimization,12(4), pp.1267-1285.