Monthly Archives: December 2016
With an economy that is still struggling, some businesses are having a hard time, as well as the people who run them. However, there are those who find, even in economic hard times, ways to keep their business going strong and rise to the top. While many think that men run the business world, there are many women who have made great strides for themselves and their companies. Here are the top 5 business women:
- Irene Rosenfeld from Kraft Foods. Rosenfeld is currently the chairwoman and CEO of Kraft, she has had at least 25 years experience in the food and beverage industry. In 2004, Rosenfeld had worked for PepsiCo, and was appointed Chairwoman and Chief Executive Officer of Frito-Lay and focused on promoting nutritious, healthy products. In 2008, she was in 6th place on The Wall Street Journal’s “50 women to Watch” list, and now in 2011 takes the number 1 spot in Fortune’s annual ranking of America’s leading businesswomen.
- The number 2 spot goes to Indra Nooyi at PepsiCo. Nooyi is the CEO and Chairman and has been at PepsiCo since 1994 and in 2001 she was named president and CFO. Since then she has raised the company’s annual revenues at least 72%, and doubled the net worth to about $5.6 billion in 2006. In 2003, Forbes named her the third most powerful woman in 2008.
- Patricia Woertz has the number 3 spot as chairman, CEO, and president of Archer Daniels Midland. In 2006, Woertz became the CEO of ADM after beating out four other competitors. She was once the Executive Vice President of Chevron Corporation, but eventually left seeking a chance to pursue CEO jobs and opportunities. In Fortune 500’s list of top CEO’s, Woertz came in at number 93 in 2009, but in 2010, she was ranked the third most powerful women by Fortune magazine, and has kept her spot for 2011.
- DuPont’s chairman and CEO, Ellen Kullman, has the number 4 spot of the 50 Most Powerful Women list. Kullman’s career at DuPont started in 1988 as a marketing manager, and was appointed CEO in 2009. She is the first woman to lead the company since they started 206 years ago in 1802. Kullman has moved up a spot on the list since she was named the 5th most powerful woman in both 2009 and 2010.
- The 5th most powerful woman of 2011 is Angela Braly. Braly is the president and chief executive officer for a health care company, WellPoint, Incorporated, she assumed these positions in 2007. Before she worked at WellPoint, in 2003 she was the President and CEO of Blue Cross Blue Shield. Forbes listed Barly as the 8th most powerful woman in 2009, but has since then made her way up to 5th place in Fortune’s.
What is a C corporation?
The standard corporation, or C corporation, is a separate legal entity owned by shareholders. You form the corporation by filing incorporation documents with a state and paying the related filing fees. The corporate structure limits each owner’s (shareholder’s) personal liability for the corporation’s business debts to the amount invested in the company by the shareholder.
Who should consider a C corporation?
A C corporation might be the right business type for you if you:
- May need venture capital for financing.
- Want flexible profit-sharing among owners.
- Want company earnings to stay in your business so that it can grow.
- Want flexibility to spread the business earnings between the corporation and shareholders for tax-planning purposes.
- Want flexibility to set salaries for employees/owners to minimize Social Security and Medicare taxes.
- Want flexibility to provide (through the corporation) substantial health and medical benefits and other fringe benefit programs for things like education, life insurance, and transportation costs.
- Want to be able to easily sell your business.
- Want to provide an accountable plan for travel & entertainment.
- Want to be able to offer stock options to employees.
- Expect your business to own real estate.
- Prefer to lower your risk of IRS audit exposure , since there is a higher audit rate for business income that is reported solely on Schedule C of Form 1040 (U.S. Individual Income Tax Return).
What is an S corporation?
An S corporation is a standard corporation that has elected a special tax status with the IRS. The formation requirements are the same as those for C corporations: incorporation documents must be filed with the state and appropriate filing fees paid. The S corporation’s special tax status eliminates the double-taxation that can occur with a C corporation’s income. A corporate income tax return is filed, but no tax is paid at the corporate level. Instead, business profits or losses “pass-through” to shareholders and are then reported on their individual tax returns. Any tax due is paid by shareholders at their individual tax rates.
Who should consider an S corporation?
An S corporation might be the right business type for you if :
- You want to take advantage of benefits that the corporate business type holds, but you want to take advantage of pass-through taxation.
- You want flexibility to set salaries for employee/owners to minimize Social Security and Medicare taxes.
- Flexibility of accounting methods is desired, because corporations must use the accrual method of accounting unless they are considered to be a small corporation (with gross receipts of $5,000,000 or less) and S corporations typically don’t have to use the accrual method unless they have inventory.
- Lower risk of IRS audit exposure is desired, because S corporations file an informational tax return (Form 1120 S U.S. Income Tax Return for an S Corporation) and there is a higher audit rate for business income that is reported solely on Schedule C of Form 1040 (U.S. Individual Income Tax Return).
Key differences between C corporations and S corporations
While C corporations and S corporations may seem very similar, there are big differences:
- Taxation. C corporations are separately taxable entities and file a corporate tax return, reporting profits or losses. Any profits are taxed at the corporate level, and losses don’t pass through for use by the shareholders to offset other taxable income. The profits of C corporations face possible double taxation when corporate income is distributed to shareholders as dividends. First, the corporation pays tax on its corporate income; then, the shareholders pay personal income tax on the same income when it is distributed to them as dividends. S corporations, however, are pass-through tax entities so there is no tax paid at the corporate level. Profits and losses are passed-through the corporation and reported on the shareholders individual tax returns. Any tax due is then paid by the shareholders at their individual tax rates.
- Corporate ownership. C corporations can have an unlimited number of shareholders, while S corporations are restricted to no more than 100 shareholders. Also, C corporations can have non-US citizens/residents as shareholders, but S corporations cannot. S corporations cannot be owned by C corporations, other S corporations, LLCs, partnerships, or many trusts. C corporations are not subject to those same restrictions. S corporations can have only one class of stock (disregarding voting rights), while C corporations can have multiple classes.
- S corporation election. A corporation must elect to become an S corporation by making a timely filing of Form 2553 with the IRS, and all shareholders of the corporation must agree in writing to the S corporation election.
What is a limited liability company?
The limited liability company (LLC) offers an alternative to corporations and partnerships by combining the corporate advantage of limited liability protection with the partnership advantage of pass-through taxation. With this tax status, the LLC’s income is not taxed at the entity level; however, the LLC typically completes a partnership return if the LLC has more than one owner. The LLC’s income or loss is passed through the LLC and reported on owners’ individual tax returns. Tax is then paid at the individual level.
You form an LLC by filing incorporation (organizational) documents with a state and paying the related filing fees. LLCs also have fewer ongoing formalities and obligations than corporations.
Who should consider an LLC?
An LLC might be the right business type for you if:
- Your startup company anticipates losses for at least two years and you want to be able to pass the losses through to yourself and the other owners.
- Flexibility for accounting methods is desired, because LLCs are not required to use the accrual method of accounting as C corporations typically are.
- Your business may own real estate.
- You want management flexibility, since LLCs offer more flexibility than corporations in terms of how the management of the business is structured.
- You wish to minimize ongoing formalities. Unlike corporations, which are required to hold annual meetings of directors and shareholders and keep detailed documents and records for all corporate meetings and major business decisions, LLCs do not face strict ongoing meeting and documentation requirements.
- You want flexibility for sharing profits among owners.
Other considerations: state selection
Most people opt to incorporate or form an LLC in the state in which their business operates. However, you are not required to do so; you can choose from any one of the 50 states or the District of Columbia (DC). You may want to consider which state is right for you to weigh any potential advantages or disadvantages. Remember, if you incorporate in a state other than the state where you operate your business, you may be required to register to transact business (foreign qualify) in the state where you operate, which results in paying registration and ongoing fees/taxes to both the state of incorporation and state of qualification.
An organization is a legitimate thing that parts the people have or in administration a business as of the genuine business itself. They are set up to shield people from an assortment of likely harms and commitment that may occur subsequently of duty business. You need diverse extra types of business enroll the proprietors of an organization have no obligation for the obligations of the business and their risk is constrained to the quantity of shares that they hold in that organization.
Setting up an organization with great in great bearing. In the event that you don’t any involvement in business then you have to any choose business constants or any contractual worker umbrella organization in close place. That one is government ensured their execution in useful for their client.
Business is not so easy when you start your own slowly you gain more knowledge about your profession. That how to manage your business. Keep one thing in mind when start new business in business are see your competitor what they are doing.
Setting up a company along with the stipulation of limited legal responsibility corporation law too set out a series of principles and regulations those corporations must adhere to in order to maintain their included rank. They comprise having a board of director that is accountable for the process and governance of the corporation in accordance with the state in which it is incorporated. Shareholders of the corporation elect the board of directors and the board then assume what is called the fiduciary responsible to put the interests of the corporation first in all decisions and discussions.
Many of company have a Chief Executive Officer or President who is the spokesperson for the corporation in all public matters and a treasurer who is responsible for keep up the high-quality financial health of the association. Other officer position may be created by the corporation as provided for under the applicable corporation law.
A Limited Liability Company doesn’t have shares. It has members, actual members who act on behalf of the company and own a part of it. A Limited Liability Company has a big advantage that is “Taxes”. It only pays taxes once. The taxes are paid through the tax returns of the personal members.
So, you have two basic options a Limited legal responsibility Company. You require additional to have a properly performance company. Once you have registered the company, you require listing it with the Internal Revenue Service. It’s called a Federal Employer Identification Number. It is very easy to apply for a Federal Employer Identification Number, which is the tax number or the tax ID for the business.
Have you ever considered having your own one of a kind YouTube style site? Well with the accomplishments of video site substantial weights, for example, Youtube, DailyMotion and others many individuals are currently understanding the colossal trade creating potential out setting up your own motion picture web website. Obviously, there perhaps various different reasons why you could need to set up your own motion picture site. You may need your very own site to use to promote your own recordings, for example, instructional recordings. In actuality there are many individuals who utilize their video sites to supply focused information on a set subject in order to help people who need expert support. In case you’re a councilor, as a delineation, you might need to utilize a video site to post instructional exercise video lessons on the most proficient method to figure out how to a councilor. In case you’re a workman, you might need to make an instructive video site which structures itself on how one can turn into a technician – or utilize it to outwardly direct people on the most ideal approach to repair their autos. You may be a maths coach who has been showing number juggling your whole life, you can utilize your video site to cover individualized help on all matters mathematic. You may be a picture taker who shows individuals on the most proficient method to get more out of their cameras notwithstanding showing them helpful camera systems all the while. One other thought, which will be of some interest to a few, is to make a video site which concentrates on visitor places. Your recordings should be centered around this thought. And the greater part of the substance material will reflect the topic of the site.
Without hesitation, let us get right down to business. How is it possible for one make money and revenue with a video website? Well there are a variety ways one can do this: adverts. Advertising revenue generating packages like Adsense, run by Google, which is free to join is popular way to become profitable using your video website. You input the promoting code into your video website, Adsense will then automatically display adverts that are pertinent to the videos on your video website. And if many individuals click on your adverts, you can find yourself making good income with programs like Adsense. Indeed there are some people who have been identified to have made hundreds of 1000’s in revenue yearly with Adsense. One other method of getting cash using your video web site is to command a membership fee for those who wish to be taught specific information on specific subjects. This works effectively if you’re a instructor or just knowledgeable on a topic, you may command a charge for membership enrollment to your website. One other well-liked method is to sign up to affiliate programs which have relevance to the videos you show on your video site. This works effectively when you review a particular product, for example: you could have purchased a brand new tv, you can make a video review on it, submit the video on your website, then publish an affiliate hyperlink to the product you are reviewing. When people click the link, they will be directed to a site like Amazon, who, by the way, run an awesome associates program, and in the event that they select to buy the television you will obtain a commission on the sale. So, I mean, if you have rather a lot views, and have a whole lot of interest in your reviews you could make quite a lot of cash.