...LIT1- Task #1 Provisions of FMLA: In 1993, congress passed the Family and Medical Leave Act, they developed this bill to assist employees that needed to be out for extenuating, planned, or unforeseen medical circumstances. To remove the fear and worry of losing one’s current place of employment. The creation of this bill gives, employees the ability to take up to 12 weeks of unpaid leave, although they do have the option of using all of their calendar year given vacation time to compensate themselves while on FMLA. Because employee A, fell into several of the major FMLA provisions, he had been granted the ability to take leave. How FMLA Applies: I do believe that the Family Medical Leave Act applies to employee A. As I have found, several areas that favor his rights to take FMLA. The birth of his children, the health of his children as they were born prematurely, and lastly he has the right as a spouse to take care of his wife and children. Although, he has the right to take leave, through the Act, this still does not require us as the employer to pay wages for the 11 weeks he did not work. We have followed the law, and the law says that we must hold his job, and continue to treat him as an employee that is on leave. Did we violate FMLA? I have found that no violation has occurred between us and Employee A. We have allowed employee A to take leave as he requested, we allowed him the full 12 weeks, although he wants to come back after only...
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...LIT1 Task 1 Part A SOLE PROPRIETORSHIP: A business that is owned by one person and is not incorporated. Sole proprietorships are easy to start. You don’t need a lawyer and you don’t need to register with the government except to obtain a business license or permit where required. * Liability: The owner is liable for all debts incurred by the business. His personal property can be attached. He is also responsible for any damage an employee may cause while working for him. * Income Taxes: The owner pays ordinary income tax on all profits. This can be an advantage because most of the time personal tax rates are lower than corporate rates. But, a sole proprietor will have to pay self-employment tax at a rate of 13.3% for the first $106,800 of income and 2.9% after that. The owner needs to register for an EIN (Employer Identification Number) if he will have employees. Payroll taxes need to be paid on employees. * Longevity/ Continuity: The business exists as long as it is financially solvent, the owner is alive, and the owner continues running the business. If the owner brings in another investor it becomes a partnership. * Control: The owner is solely responsible for all decisions concerning the management of the business. If they want to expand the business or end the business it's totally up to them. * Profit Retention: The owner keeps all profits and he also takes all losses. * Location: Different...
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...LIT1 Task1 A1. The family medical leave act of 1993 guarantees an employee: - 12 weeks of leave in a 12 month period to care for a newborn or child within the first year of life. -12 weeks of leave in a 12 month period to care for their spouse, child or parent who has a serious medical condition. -12 weeks of leave in a 12 month period if the employee suffers from a serious medical condition and they are unable to perform the essential duties of their job. FMLA entitles eligible employees to take un paid yet job protected leave. A2. The employee is not entitled to pay for the 11 weeks that the employee was on leave. FMLA only guarantees the eligible employee 12 weeks off and protection of his job. The employee was allowed to take the 11 weeks off that he requested without loss of his job, position or salary rate. The employee was allowed up to 12 weeks of job protected leave within the first year of his childs life. His employer granted him the leave and his job was never at risk. A3. No violation has occurred in this scenario. The employee’s position and pay rate were held and kept the same. The employee was within the allowed time limit using only 11 of the 12 allowed weeks. B1. The age discrimination in Employment act of 1967 protects against: -Pre-employment inquires- The ADEA does not stop an employer from asking an applicant’s age or date of birth, but because this information may lead to denial of ...
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...Part A (the report) Forms of Business Organizations SOLE PROPRIETORSHIP A sole proprietorship is an unincorporated business entity owned by one person. A sole proprietorship is the most common form of business today. · Liability: This is one of the largest disadvantages of a sole proprietorship. There is no distinction made under law between the proprietor and the proprietorship therefore the proprietor is one hundred percent liable. In the event that the business flops or is sued the business and personal assets of the proprietor including homes, bank accounts, vehicles, and equipment will be used to pay off outstanding debts. Future earnings are included the only income that is exempt from liability are life insurance monies left by the proprietor to his/her family. · Income taxes: There is no difference under the law between a sole proprietor and the sole proprietorship, meaning that all business income is considered personal income of the proprietor. There is no double tax; all taxes are paid once by the proprietor since there is no separate reporting of federal income tax. The disadvantage to the tax situation is that the proprietors’ income from the proprietorship may cause the individual to enter a higher tax bracket and therefore pay more taxes. However a sole proprietor may decrease taxable income by writing off operating costs as expenses and most often this tax situation is advantageous. · Longevity/Continuity: It is as easy to dissolve the business as...
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...Paula Moraru’s Submission for LIT1 TASK1 PART A SOLE PROPRIETORSHIP: It is an unincorporated business with one owner who pays personal income tax on profits from the business. With little government regulation, they are the simplest business to set up or take apart, making them popular among individual self contractors or business owners. The benefit of the sole proprietorship is the tax advantage. The disadvantage of a sole proprietorship is obtaining capital funding. - Liability: The owner is personally liable for claims against the business. If a sole proprietorship losses a lawsuit or otherwise finds itself in debt, not only will the business be liable for the debt, but the owner will be as well. - Income Taxes: As a sole proprietor...
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