Daily Archives April 13, 2015

S Corporations – Filing The Election

S Corporations – Filing The Election

by: Richard A. Chapo

Getting a corporation designated as an “S” can be a bit confusing. If you are committed to getting an “S” corporation, here is how you do it.
“S” Corporation
The “S” in S corporation refers primarily to a tax designation. While electing to be an S corporation does have legal implications, such as no more than 75 shareholders, the designation really concerns pass through tax issues. Put in layman’s terms, the designation simply means the corporation will “pass through” its taxes to shareholder in proportion to their ownership interests. This allows shareholders to claim profits and losses directly on their taxes and avoid the double taxation of a C corporation.
To become an S corporation, you must file an election with the IRS. Typically, no documentation is require to be filed with any state entity, but make sure to check you particular jurisdiction. Regardless, the filing with the IRS is made using form “2553 – Election by a Small Business Corporation.”
To fill out form 2553, you will need to supply the following information:
1. The name and address of the corporation,
2. The tax year to be covered by the election,
3. The date the corporation first had shareholders or began doing business,
4. The name, address and social security number of EACH shareholder, and
5. The signature of EACH shareholder.
If you have shareholders located around the country, making an “S” election filing can be problematic. Getting everyone to sign off on the document can take time and time is not on your side.
Time Requirements
The IRS puts strict deadlines on filing “S” elections...

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Divorce: Coping With The Family Law Process

Divorce: Coping With The Family Law Process

by: Charles M. Goldstein

The Emotions
Divorce is a scary, lonely and misunderstood process for most people, particularly when there are children involved. The mutual friends enjoyed during the marriage may not be of help because those individuals may not want to “pick a side.” A divorce will introduce you to an entirely new balancing act.
The Effect on Productivity at Work
You must be conscious of how the divorce process affects your ability to function on your job. There may be occasions when you will feel overwhelmed by a typical day’s workload. On such occasions, you may wish to apportion work in terms of what you can handle.
You may at times find yourself uncharacteristically testy and acerbic to friends and colleagues, uncommunicative, depressed, and distracted. You should try to be alert to these personality and mood changes and work with a counselor to solve them. At times this may involve temporarily modifying project responsibilities or adjusting assignments until you achieve a level of equanimity. On still other days, you may not be able to cope with the workplace or home environment at all, no matter how light the workload. When this happens, it may be prudent to request a brief personal leave. If your behavior and interaction cannot be altered through temporary changes, you may need to seek professional counseling during this stressful period.
Keep in mind that while going through a divorce you will face numerous demands on your time: meetings with an attorney, accountant and counselor, possibly locating a new residence (and furnishing it) and establishing new lines of credit. Plan ahead where possible for these contingencies by asking your employer for projects that do not have a tight deadline...

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Lawsuit Anatomy

Lawsuit Anatomy

by: Frederick Graves, Esq.

Anatomy of a Lawsuit
Learning the anatomy of civil lawsuits is as easy as spelling “CAT”.
Complaint – Answer – Trial
It’s as simple as that!
Master this simple truth and you will soon be operating successfully in court.
Plaintiffs file complaints.
Defendants file answers.
Judges examine the facts and law at trial to decide who wins.
It’s not difficult if you keep these three steps in mind.
Every lawsuit has this same fundamental anatomy.
Complaint. Answer. Trial.
If you can spell “CAT”, you can master the basics.
C = Complaint … Where the case begins, when the plaintiff complains.
A = Answer … Where the defendant responds to the plaintiff’s complaint.
T = Trial … Where the judge (or jury) decides the final verdict.
After the plaintiff files his complaint, the defendant may file a flurry of motions that seek to have the complaint stricken or dismissed so he need not answer.
If the flurry of motions fails, the defendant must answer the complaint.
Once the defendant is compelled to answer the complaint (and sometimes before) both parties are permitted to engage in discovery of evidence procedures, i.e., to demand production of documents and things, to require the other side to admit facts and law under oath, to ask relevant questions of anyone, to put evidence on the public record, and to attempt to settle the case and avoid the expense, delay, and uncertainty of going to trial.
If the parties cannot settle their dispute during the discovery phase, the court must examine the evidence, hear testimony, consider arguments of law, and render its final judgment.
It’s just that simple.
By knowing this, you can write a powerful complaint or avoid filing an answer by moving the court to dismiss or strike the complaint or req...

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Vioxx Recall Lawsuits

Vioxx Recall Lawsuits

by: T.Going

The drug Vioxx is a COX-2 inhibitor designed by the company Merck Inc. It was ordered to be pulled from American and European markets on April 7th 2005 after it was discovered that there were potentially deadly side effects from its use.
Doctors and researchers both believed that the drug Vioxx could cause cardiovascular problems and recently a Texas jury awarded a $253.4 million wrongful death settlemtn to the widow of a man who allegedly died from Vioxx-related complications.
Experts will now agree that Merck knew of the danger the Vioxx presented, but instead chose to market the drug as a safe way to reduce pain and inflammation. This terrible misjudgment has lead to a variety of dangerous and deadly complications including deep vein thrombosis, stroke, pulmonary embolism, blood clots and other serious heart damage.
Currently there are 4200 pending lawsuits filed against Merck. Friends and families of Vioxx victims must attempt to pick up their shattered lives and face the reality that negligence, deception and greed have robbed them of their loved ones. Merck gambled with the pharmaceutical industry and lost.
If you believe that you may be affected with Vioxx complications please take a stand. Drug makers are hoping that victims of Vioxx will remain silent due to fear and intimidation. A Vioxx lawsuit might be the most effective way to show Merck and other drug makers that they must be accountable for their actions.

About The Author

T.Going
Please visit http://www.sddefenselawyers.com/vioxx-recall/ to find out more on the Vioxx Recall Lawsuits and Vioxx Heart Attacks. This article may be freely reprinted as long as this resource box and all links stay intact as hyperlinks.
tgoing@comoms.com

This article was posted on August 24...

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Accident Compensation Claims

Accident Compensation Claims

by: John Eastwood

To get accident compensation claims accepted in the UK, you should contact your lawyer immediately after the accident. The kinds of accidents you might get involved in include road traffic accidents, hit and run accidents, accidents at work, accidents caused while performing leisure activities, and whilst on holiday abroad. Injuries might include lacerations, fractures, and whiplashes.
You can get accident compensation if you are involved in a road accident as a driver, passenger, cyclist, or pedestrian. The other party’s insurance company makes the payment, in hit and run cases and in others where there is no insurance cover.
Employers have a legal obligation to protect workers against accidents at the workplace. Employers also get insurance cover against accidents in the workplace. Your employer can be liable for claims in case a fellow employee causes an accident that leads to injuries. Employers also follow strict rules and regulations to avoid accidents at work.
If you are injured at work, enter a report immediately in the Accident Report Book. The report should be fair and accurate, and should bear your signature. You should report injuries to the Health and Safety Executive and contact a lawyer immediately to investigate the accident.
You could also get injured in accidents while performing leisure activities. If you can prove that the accident was caused due to negligence by someone else or due to the use of faulty equipment, then you can make a claim. However, you can make no claims if you injure yourself as a result of your own actions. You can even make a claim if you get injured while living abroad.
Lawyers involved in the accident compensation claims need to belong to the Association of Personal Injury Lawyer...

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