The Bizedia

The Business Education Encyclopedia

Corporate Tax Laws

Posted by on Oct 12, 2013

Because tax laws can be difficult to understand, a lot of companies hire a good tax lawyer to help them sort out any problems when it comes to their tax concerns. Corporate tax is something that is mandated by the law, and every company is liable to pay for their taxes, otherwise they can be filed with criminal charges. A corporate tax is the tax that every company pays in accordance to their company’s profits during a certain taxable period.

Corporate tax is different from individual income taxes in 2 significant ways. First, corporate taxes are based on the net income, or profits, with legal deductions for the cost of doing business. Second, that these taxes are only implemented on businesses that are employed as corporations (sole ownership or partnerships are not taxed as corporations). Aside from their incomes, corporations are also taxed based on their properties and the jurisdictions on which their business are in. Most jurisdictions follow a taxing system based on declared or estimated capital, while there are jurisdictions where others are taxed according to equity structure of the company.

Because corporations are taxed by their profits or net incomes, their taxable incomes are generally financial statements that have certain adjustments. These taxes can have an alternate base: assets, income, and payroll which are computed in an alternate way as well. The rates for taxation differ by jurisdictions.

As found on the website of JP Singh, Attorney at Law, preparing for non-simple tax returns takes a lot of time and effort. Having a tax lawyer can come in helpful in a lot of ways, not just contesting disputes or exemptions. Just as with other entities, corporations can also be held liable for withholding tax obligations when they make varieties of payments to others. Although these responsibilities are not the tax of the corporations themselves, corporations (their officers or employees) can be punished if they have failed to withheld to pay on these taxes.

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Self-Driving Cars? Almost!

Posted by on Oct 4, 2013

One of the newest features for cars that almost make a human driver irrelevant may one day be as common as the car radio.

High-end cars started the trend, but more proletariat models are also jumping on the bandwagon with built-in sophisticated systems that make use of onboard cameras and sensors plus adaptive cruise control to make road travel safer and nearly autonomous. New car models in 2014 are slated to include these safety systems that not only makes minor steering adjustments to keep the vehicle centered on the lane, it can also stop and go to avoid obstructions and collisions on the road. Some automakers even include the Pedestrian and Cyclist Detection with Full Auto Brake system in response to the disturbing number of serious car accidents involving those on foot and bicycles.

The safety systems take advantage of the increasing sophistication and decreasing prices of relevant technology, such as cameras and sensors coupled with an onboard computer which can make split-second choices. This eliminates the element of risk of car crashes associated with distracted driving or substance intoxication. The system is mostly effective on the highway, but it is anticipated that even more advances in the future may finally put one aspect of science fiction in reality: the self-driving car.

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Liability for Residential Gas Explosion Injury

Posted by on Jun 18, 2013

The presence of household gas in most residences is usually taken for granted. It is there, in tank form or coming in through a pipe, fueling heaters, boilers, dryers, ovens, and so on. But the potential for danger in having such explosive material in the home seldom occurs to anyone until an accident happens. An explosion injury can be devastating, not to mention the damage to property, but who is liable?

Residential gas explosions happen for a variety of reasons. Recent natural gas explosions in several states were traced to leaks from aging and poorly maintained pipelines which had originally been lain half a century ago. Between 2005 and 2009, there have been 14 deaths and 51 injuries reported from 282 incidents of pipeline explosions. There have been some initiatives to improve the safety of these pipelines that feed into homes and residential buildings, but it is slow going.

Other residential gas leaks that have been reported involve poorly-maintained and improperly placed propane tanks. Gas companies who install and refill these tanks have the responsibility to ensure that they are properly housed and maintained. In one incident, the gas company overfilled the tanks, which were already in poor condition, and the gas leaked, causing an explosion.

For residential buildings where there is a landlord or a building administrator, gas lines should be regularly inspected and regulated by certified professionals. It is the responsibility of the building manager to ensure that this is done.
Liability for a residential gas explosion injury or death depends on the type of household gas used, type of residence, and the circumstances surrounding the incident. If you believe that the residential gas explosion that injured you occurred due to the negligence of the professionals who are supposed to ensure the safety of pipelines and tanks, then you should sue. Consult with an explosion injury lawyer who is experienced in dealing with residential gas leak explosions and see if you are eligible to recover damages.

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Anatomy of a Head Injury

Posted by on Jun 15, 2013

The deadliest injury in any accident is a head injury, mostly because the head itself is what stands between the world and the brain. Superficial head injuries bleed a lot, but they are not particularly dangerous. It is when the brain is involved that trouble starts. Most injuries that affect the brain due to accidents are called traumatic brain injuries.

The head is composed of a bony receptacle, namely the skull, and it is designed much like a helmet is. Some areas are thicker and some are more vulnerable. But while the bony protection is there to deflect the force of a blow to the head, violent movement can cause the brain to literally slide forcefully forward and back. This can lead to serious brain damage even while the skin and bones of the head remain intact, and there is no apparent injury. This is called a closed head injury, and it is the leading cause of death in very small children, the so-called “shaken baby” syndrome.

A skull fracture, on the other hand, is a more obvious head injury, and will certainly have some brain involvement. The severity of the injury is determined by the location, because some parts of the skull are thinner than others and breaks more easily. A skull fracture could be linear or a starburst, depending on how the force was applied. A starburst pattern normally indicates a blunt instrument or striking surface. A skull fracture could also be penetrating, meaning an object pushed through the bone and into the brain, such as in gunshot wounds, or depressed, meaning a part of the skull has caved in and is pressing into the brain.

Death is not necessarily the result for any of these types of head injury, but even when it appears to be superficial, such as a small laceration, care should be taken to ensure that the brain has not been involved. Some patients who seem perfectly all right collapse and die as they leave the hospital; others with penetrating head injury survive and even recover completely. If you have suffered a head injury as a result of the negligent actions of others, get medical attention immediately. As soon as possible afterwards consult with a personal injury lawyer to get compensation for your injuries.

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Why Would a Crane Collapse?

Posted by on Jun 13, 2013

Cranes are a familiar sight whenever there is construction going on, and few of us give it more than a passing glance. But because it is so big, the potential damage a crane collapse can cause can be extensive, affecting even those who may be sitting quiet at home reading a newspaper. A crane collapse can happen without warning, and it is a scary sight to watch. But what would cause a crane collapse?

According to the Department of Labor, there are 82 deaths due to crane-related accidents annually. In most cases where the crane tipped over, it was due to improper loading, operation, anchoring, assembly or disassembling of the crane. It is mostly the smaller, more mobile cranes that tip over, usually because the loads are beyond the capacity of the crane to lift. Tower cranes that do collapse do so because they were not assembled properly. In some cases, the accident happened when workers were “jumping” the crane, which means adding sections to extend the height. Another reason for a tower crane collapse could be faulty outriggers, which anchor the crane to the ground, such as what happened to the famous 1999 “Big Blue” accident in Milwaukee.

A crane collapse is not something that anyone plans to happen. Most crane mishaps are accidents; but the fact is, they could have been prevented. Human error is clearly indicated in many of these incidents, ranging from overloading to incompetent operation of the crane to improper assembly. Construction companies have a duty of care to their workers and the people who may be affected by their activities, so it is their responsibility to provide adequate training to people who operate and assemble these huge machines to prevent accidents from happening.

If you have suffered injuries from a crane collapse due to human error, consult with an experienced personal injury lawyer in your area specializing in construction accidents. Having a giant kid’s toy fall on you is no joke; you will likely require extensive medical treatment and long-term care. You will need all the compensation you can get.

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Explosion Injury from Fertilizer Plant Accident

Posted by on Jun 12, 2013

Fertilizer seems innocuous enough to most, but when it comes to ammonium nitrate, it’s not a matter for the compost heap. This was amply demonstrated when the West Fertilizer Company exploded on April 17, flattening 5 blocks of homes surrounding the plant, injuring 200 people and killing 14. Ammonium nitrate is well known as a dangerous chemical; it was responsible for the most disastrous industrial accident in US history in 1947 when a ship carrying 2,300 tons of the chemical fertilizer was in route to Waco, Texas when it exploded. It killed 576 people, including 26 firemen.

The extent of the damage for the West, Texas explosion is quite extensive. Aside from residential buildings, the accident wiped out a nursing home and the local school, as well as creating a huge crater where the plant used to be. The costs have not yet been released.

It has been pointed out that while the cause of the explosion is still unknown two months after the fact, the factory has a history for not following safety laws and regulations. Storing dangerous chemicals such as ammonium nitrate in close proximity to people’s homes, schools and nursing homes is bad enough. West Fertilizer also failed to report to the Department of Homeland Security that they were storing 270 tons of ammonium nitrate, a chemical that can be used for terrorist attacks as mandated by law. Clearly, the company has very little consideration for the safety of their employees as well as the surrounding community and just as clearly culpable for the damages to property, personal injuries and wrongful deaths that resulted from this negligence.

But West Fertilizer, like many big corporations, has vast resources at its command, including legal representation. Those who have suffered explosion injuries, death and property damage may feel daunted about bringing the people responsible to book, but they have a right and responsibility to do so. If you or someone you know has been directly affected by this terrible accident, consult with an experienced explosion injury lawyer in Texas and get justice done.

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Causes of Motorcycle Accidents: Things You Ought to Avoid

Posted by on Jun 11, 2013

Beat the traffic wherever you are and get to your destination the quicker and cooler way by riding your motorcycle. Motorcycles are simply more exciting to ride since these can be maneuvered easily and can pass even through narrow spaces. Due to their lightness, however, and with no protection that can shield riders against impacts, these render drivers more vulnerable to more serious injuries in the event of an accident.

Getting injured or losing someone in a motorcycle accident can be a traumatic experience for you and your family. Besides the physical pain due to the injury, there is also that great stress due to the sudden financial burden you are faced with, and with no means for assured earnings due to failure to report for work.

This is why observance of road traffic rules is very essential; some drivers, though, just have no concern for others’ safety, choosing to act negligently or recklessly once they get themselves behind the wheel. It is no secret that the percentage of fatality during accidents is much higher for motorcycle riders than other motor vehicle drivers; the US National Highway Traffic Safety Administration makes this information available to everyone. The same agency also says that the major cause of fatality for riders is head-on collision with cars.

Other reasons why accidents happen, include carelessness while driving, collisions with fixed objects, cars making left-hand turns, speeding & alcohol use (either by the driver or the rider), road hazards or defective roads, poor vehicle stability and visibility during bad weather conditions, poor riding or driving skills and motor cycle lane splitting, which happens when a motorcycle passes between two stopped or slow-moving vehicles during traffic.

If you get involved in an accident while riding your motorcycle, one of the necessary things that you ought to do is get legal assistance. If the accident is the other driver’s fault, your lawyer will be able to help you get the justice you deserve and earn for you the compensation that you may need.

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Wrong Site Surgeries: A Medical Mistake Patients Continue to Suffer From

Posted by on Jun 8, 2013

With the kind of discipline medical / health-care professionals undergo and the sensitivity of the cases involved in their practice, it would only be natural to trust them fully with regard to any health complaints that patients have. Thus, due to such trust, medical / health-care professionals are obliged to render only the best, immediate and correct care and service to their patients.

When speaking about best service, the term best simply suggests timely and effective treatment, correct medication and, most of all, accurate diagnosis – the primary duty of medical / health-care professionals.  Any kind of treatment and medication will always have the diagnosis as basis. Thus, wrong diagnosis can entail a serious medical mistake, which can severely harm the patient, make him or her suffer more, or cause his or her untimely death.

It is a sad fact that medical errors are real and that they cause a great number of patients to suffer more. What’s worse is that these mistakes are products of someone else’s carelessness or negligence: an erroneous lab result interpretation, wrong diagnostic tests or a mix-up in patients’ records – these are just some of the reasons that cause medical errors. Their effects, however, are nothing short of serious as these include wrong surgical procedure, wrong dosage of anesthesia, surgery on wrong site, performance of surgery on wrong patient and many others.

Doctors will decide to perform a surgery only when necessary. But imagine a doctor performing a surgery to correct a patient’s lazy eye, only to find out, after the operation has been easily and successfully done, that the operation was actually made on the wrong eye. There are many other cases of wrong site surgeries performed by surgeons, like removal of a healthy kidney from a male patient with kidney cancer, an operation made on a wrong finger, a wrong-site spinal surgery and so many others. In these cases, contacting a medical malpractice attorney in New Hampshire may help you with your case.

The effects these erroneous surgeries have on patients can be serious and patients should not be made to suffer the burden of these mistakes by themselves. Justice allows these patients to receive compensation from the liable party to enable them to afford the costly medical treatment that will hopefully help them recover.Medical Errors

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Blast Injuries and their Effects

Posted by on Jun 6, 2013

A direct exposure to an explosion is one traumatic experience that can result to severe injuries. Besides a bomb, which is the most common cause of a blast, there are many other causes of explosions, including gas pipelines, propane, fertilizers (these contain the chemical ammonium nitrate, a highly explosive compound that is commonly used in agricultural fertilizers), gas tankers, fuel barges and others. Whatever the cause of the explosion, however, the effect always becomes more intense when it happens in confined spaces, like in enclosed large vehicles, buildings or mines.

Explosions, as fire engineers put it, are the effect of the abrupt violent expansion of gases. Besides the loud noise, balls of flame, clouds of black smoke, and scorching heat, an explosion also produces shock waves, which cause windows to shatter, doors to be knocked down and walls to collapse. Depending on the surroundings and the distance of a person, an explosion can shatter glasses, knock people down and even damage their lungs and other parts of the body; a blasted lung, which refers to severe pulmonary contusions, is actually the most common cause of fatal injury among survivors.

There are four classes of injuries sustained from a blast, these are:

Primary injuries – caused by blast overpressure / shock waves and these are sustained due to proximity to the explosion. Injuries are usually damage to the middle ears, blasted lungs, abdominal hemorrhage and perforation, eye rupture and damage to the gastrointestinal tract’s hollow organs.

Secondary injuries  – are due to fragmentation and explosion-propelled objects that can affect any part of the body. Secondary wounds, which can be caused by shattered glasses or metals, such as in nail bombs, can have lethal effects.

Tertiary injuries –  also called tertiary blast injuries are caused by the blast wind created by air displacement at the moment of explosion. Blast winds can throw people, especially children, towards solid things and vice versa. Victims who sustain this type of injuries can suffer from fractured bones and coup contre-coup injuries. Coup injury means injury on the part that suffered direct impact on another solid object; contre-coup refers to the other side of that part that was directly impacted.

Quaternary injuries – refers to any injuries that fall out of the first three types. These may be physical, like respiratory injuries and flash burns, or psychological, such as post-traumatic stress disorder and psychiatric injuries.

Filing a lawsuit against the party liable for the explosion that has caused your injuries may be more complex than you think. To make sure that you make the right moves and are able to prepare the right case and evidences that will strengthen your case, hiring an experienced and knowledgeable legal counsel ought to be one of your immediate decisions.

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Drinking and Riding: A Combination that Will never Work

Posted by on Jun 2, 2013

Drunk-driving already entails lots of dangers to pedestrians, other motorists and the driver him or herself; but wait ‘til you hear what drunk-riding can result in.

According to the US National Highway Traffic Safety Administration (NHTSA) the most common reasons for motorcycle accidents, include head-on collision with cars or other fixed objects, road hazards, poor vehicle stability, poor riding skills, reduced visibility during bad weather, motor cycle lane splitting, speeding and drunk-riding. The same agency also stated that the most dangerous remains to be drunk-riding, saying that drinking and riding simply do not mix as alcohol, time and again, has continued to be particularly lethal for motorcycle riders.

Though the NHTSA has clearly set the limit of alcohol content in driver’s /rider’s blood to 0.08 grams/deciliter, which is about four bottles of beer, many riders still choose to disregard this stipulation. As a result, the number of deaths due to drunk-driving or drunk-riding has continued to rise over the years.

Despite the steady increase in the number of accidents and deaths, the culture of drink-and-ride sadly seems to be acceptable to riders nationwide. This is clearly evident during riders’ festivals and other motorcycle events, where vendors of beer and other alcoholic beverages continue to lure riders with freebies. Other riders, on the other hand, either ride to a bar for a drink with their friends or drink alone for whatever reasons they have; after the drinks, though, comes the scary part – they ride back home regardless of the amount of alcohol they have taken.

However careful these drunken riders ride their bikes, once an accident occurs, their drunkenness will only increase their liability. Thus, contacting a lawyer if you have been a victim of a motorcycle accident would be a wise move as he or she will be able to guide you on the necessary things to do following the accident. Filing a case against the liable party and seeking damages for your injuries, financial losses and medical needs can also be more effective with his or her assistance.

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