LIT1 - Task 2 - 310.1.5-02,_11,_13_0912 Family Medical Leave act of 1993 The Family Medical Leave act of 1993 (FMLA) ensures that personnel of companies with 50 or more employees, who work within a 75 mile radius of those in need of the leave, are able to take time off in order to balance their personal obligations with their employment commitment. An employee will qualify for family leave if • they need time off for a serious health condition • or a close family member requires care because
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To: Business Owner From: Justin Lugar Date: November 4, 2015 Subject: Business Form Recommendation It seem as though the you are looking for a couple distinct business characteristics for improving areas of concerns you have for your, so far, promising business venture. Since you are now operating in a sole proprietorship, which allows business and personal finances to be one in the same, one worry is not having enough liability coverage to protect your personal assets/finances in unforeseeable
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LIT 1 – Task 1 | SUBDOMAIN 310.1 - BUSINESS LAW | Competency 310.1.2: Organizational Forms | | | | The following report will summarize the key differences between the various forms of legal business entities. The ownership forms covered will include sole proprietorship, general partnership, limited partnership, C-corporation, S-corporation, and Limited Liability Company. Also included will be a brief recommendation of the most appropriate form of ownership for the given manufacturing
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Situation A - Family and Medical Leave Act Rules of the Law The Family and Medical Leave Act (FMLA) of 1993 was designed to provide employees with up to 12 weeks of unpaid job protected leave each year. During the leave, their group health insurance coverage will be continued with the same coverage as if they were not on leave. To be eligible the employee must have worked with the employer for at least 12 months and during those 12 months, worked at least 1250 hours. The employee must also work
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Part A Sole Proprietorship: Sole Proprietorship is the easiest and least expensive way to start a business. You are in complete control of the business and are in control of all the finances. If you want to name your business anything other than your name you will need to register your fictitious business name with the State. You will register it by supplying your "Doing Business As" (DBA) name. There are also disadvantages of being a sole proprietor, you have unlimited liability and are legally
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Hello, my name is Mr. B and I am the newly hired director of human resources for company X. I have been charged with the oversight of 75 employees. My duties as the human resource director are to oversee the hiring and employment practices. I must also ensure that company X is in compliance with pertinent federal laws and regulations to avoid fines and other sanctions that could be imposed. I have recently been asked to evaluate three situations and to submit a report regarding whether the company
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Part A Sole Proprietorship A sole proprietorship is essentially a small business that is headed by one party or owner, referred to as an entrepreneur. As a sole proprietorship, the debt liability rests entirely on the owner. This means that they can be sued by creditors to collect business debts. Also, if the business owner has any unpaid personal debts, creditors may attempt to collect them from the business profits. Issues such as injuries, lawsuits, and torts that may arise will find the owner
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LIT1 - Task 2 Mark J. Fortenberry May 9, 2015 LIT1 - Task 2 Company X has reported three situations that have occurred that require investigating. Since employment and hiring practices are a part of my duties here at Company X, I have been charged with the investigation into these situations. In the subsequent report, the laws that companies must abide by will be outlined and how these laws affects the outcome in each of these three situations. The Family and Medical
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LIT1 Task 310.1.2-01-06 Part A: 1. Sole Proprietorship: a. Liability: The owner of sole proprietorship is responsible for all bills that involve the business from supplies to employees. Owner personal’s assets are attainable by creditors in case the sole proprietorship is unable to cover for the bills. b. Income Taxes: The owner would be considers as ordinary person income in which they are tax heavily. Sole proprietorship is unable to take advantage of the lower income
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LIT1 Task 310.1.2-01-06 ! Different Types of Business Organizations! ! Sole Proprietorship. ! ! Sole proprietorships is one of the easiest types of business organization to sign up for. This unincorporated business only requires one person to have ownership. Convenience is why this form of organization is preferred, as this organization has the least amount of regulatory oversight. The single owner of the business is the one personally liable for the actions of the business. When
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