Small business in the usa: an s-corporation is not always best

Методические указания

1. Контрольное задание предлагается в двух вариантах. Вы должны выполнить один из них в зависимости от последней цифры номера вашего студенческого билета (зачетной книжки): студенты, последними цифрами номера студенческого билета (зачетной книжки) которых являются 0, 1, 4, 8, 6 выполняют 1-й вариант; 2, 3, 5, 7, 2, 9 – 2-й вариант.

3. Контрольные работы могут выполняться в письменном или печатном виде. В первом случае контрольная работа должна быть сделана в отдельной тетради (12 -18 листов). На обложке необходимо указать номер контрольного задания, язык, ваши фамилию и инициалы, группу и фамилию преподавателя. Если вы выполняете работу в печатном виде, данная информация должна быть указана на титульном листе.

4. Письменные контрольные работы должны выполняться пастой синего цвета, аккуратно, четким и разборчивым почерком. При выполнении контрольной работы оставляйте в тетради поля (3 – 4 см) для пометок рецензента.

Контрольные, выполненные в печатном виде, должны отвечать следующим требованиям: шрифт 12 (Times New Roman); межстрочный интервал – 1,5; левое и правое поле – 4 см; в конце работы должен быть чистый дополнительный лист для работы над ошибками.

5. Контрольные задания должны выполняться в той последовательности, в которой они даны.

6. Выполненные контрольные работы должны быть сданы за 1 – 2 недели до начала сессии.

Внимание. Каждая контрольная работа должна быть зарегистрирована в специальном журнале.

7. Если контрольная работа выполнена без соблюдения указаний или не полностью, она возвращается без проверки.

Темы:

1) независимый и зависимый причастные обороты,

2) сложное предложение,

3) типы придаточных предложений,

4) сослагательное наклонение.

Контрольная работа № 3

Вариант I

I. Переведите текст письменно, выпишите 20 незнакомых слов с переводом, выучите их.

SMALL BUSINESS IN THE USA: AN S-CORPORATION IS NOT ALWAYS BEST

It is generally believed that small companies should incorporate as S-corporations. While an S-corporation enjoys many corporate attributes (the main is that the owners of a corporation do not expose their personal assets to corporate liability), it is treated like a partnership for the purposes of determining its Federal income tax liability. At the end of each fiscal year, its total earnings (or losses) are prorated to each shareholder, and these earnings (or losses) are incorporated into their individual income tax returns.

Among the advantages of the S-corporation for small business is no «double taxation» - paying an income tax on corporate net income, and then paying an individual income tax on the dividend income subsequently distributed by the corporation

Thus, an S-corporation «generally will not be liable for federal income tax». If losses are incurred during the start-up period (or any other period), these losses can be deducted each year from the shareholders’ tax returns. All income, losses, credits, and deductions are «washed through» the S-corporation at the end of each fiscal year, the S-corporation has no retained earnings account.

For most small businesses, the S-corporation has long been the preferred corporate structure. The operational accounting is simpler, and accounting, legal and administrative expenses are minimized. Shareholders receive the immediate benefits of earnings without «double taxation» and the shelter of tax deductive losses on their individual tax returns. There are sound reasons to state that this is generally the most popular corporate structure.

However, for small businesses that are growing rapidly, the conventional C-corporation status may turn out to be more preferable. The primary motivation for such a change would be the ability to retain and reinvest earnings in the expanding business.

The maximum Federal income tax rate for C-corporation is 34 percent for taxable income up to $ 10.0 million, whereas the maximum tax rate on S-corporation income is now the maximum individual rate of 39.6 percent. At the other end of the range, the Federal tax on corporate income of $ 1000,000 is $ 22,250 for a C-corporation, whereas the incremental tax on this income added to other income of the shareholder in an S-corporation could be as high as $ 39,600 if the shareholders are already in the maximum tax bracket. If the business is striving to retain and reinvest all possible cash during a period of strong growth, it will obviously forgo distributing cash dividends thereby avoiding the problem of «double taxation».

The maximum tax will be effectively reduced by more than 16 percent, and substantial funds will then be retained to meet the capital needs of the expanding enterprise. Discounting the effects of depreciation charges, this shift of corporate structure yields almost a 10 percent increase in net cash flow.

II. Ответьте на вопросы:

1. What types of corporations are described?

2. What is the maximum corporation tax rate for taxable income up to $10.0 million?

3. What is the main advantage of the S-corporation status?

4. What does the term «double taxation mean»?

5. In what case is the C-corporation status more preferable than the S-corporation status?

III. Переведите предложения на русский язык, подчеркните придаточные предложения, определите их тип:

Образец:She asked how much he had got at his previous job. (Придаточное предложение – дополнение). Она спросила, сколько он получал на прежнем месте работы.

1. Did he say her who else was going to talk to CEO?

2. She told that the manager of the company ordered the goods to be sailed immediately.

3. The conference which will be in Moscow is devoted to the problems of economic situation in our country.

4. John had to save part of the money he earned so that his brother could complete his experiments.

5. Why do you speak as though you were trying to prove something to me? The case is quite clear.

6. What is the most important question will be known during the discussion.

7. The question is whether he will take part in the work of the conference.

8. When Jim and Ted met after the conference, they shook hands in a most friendly manner, as if they had always got on well together.

9. I’ll do the packing now, so that I’ll have time for a snack before the journey.

IV. Переведите предложения с сослагательным наклонением на русский язык, подчеркните формы сослагательного наклонения:

Образец: If they had a good sale, I would stop by my way home. – Если бы продажи шли хорошо, я бы остановился (заехал) по дороге домой.

1. If the questions for the on-line conference were chosen beforehand there would be discussed the most important matters.

2. If it weren’t so difficult to get train tickets, they would take them on the day of the departure.

3. If the situation in economics weren’t so tense and difficult, the inflation rate would be less.

4. If there were no other way out, we should take the situation as it is.

5. If things were to be done twice all would be wise.

6. If there were a monopoly on the production of the goods the price would rise.

7. If the date for the next appointment had been fixed by him, the Contract would have been discussed before his departure.

8. If he had time he would look through the newspaper.

9. If the meeting were postponed till next Friday he would call them.

10. If these products were produced in our country, it wouldn’t be necessary to order them abroad.

V. Переведите предложения на английский язык, используя сослагательное наклонение, подчеркните форму сослагательного наклонения:

Образец: Если бы было больше времени, я бы проверил отчет еще раз. – If I had had more time I would have checked my report again.

1. Если бы ты не делал работу в спешке, у тебя было бы больше возможности проявить себя.

2. Вам не следовало бы заключать контракт после первого раунда переговоров.

3. Он случайно заметил, как кто-то выбежал из офиса и направился прямо к железнодорожной станции.

4. Не может быть, чтобы вы не слышали этих новостей! Вам следовало бы чаще смотреть новости по телевизору.

5. Должно быть, перевод статьи сделан в страшной спешке. В нем очень много ошибок.

6. Если бы на наш бизнес на Ближнем Востоке повлияла инфляция, мы бы потеряли много денег.

VI. Переведите предложения с независимым и зависимым причастными оборотами на русский язык, подчеркните независимый и зависимый причастные обороты:

Образец: My task having been finished, I went home (независимый причастный оборот). – После того, как задание было выполнено, я пошел домой.

Having filled an application form, he was interviewed by Jane Smith for a position of a manager (зависимый причастный оборот). – Заполнив бланк заявления, он проходил собеседование на должность менеджера, проводимое Джейн Смит.

1. The matter, having been discussed, they decided to have a short break.

2. The preparations being completed, they began to climb up the mountain.

3. My brother having taken the key, I could not enter the house.

4. Having written his report he went to bed.

5. Our petrol being exhausted, we could go no further.

6. While travelling to the conference in New York they met a friend.

7. The negotiations between the American and British representatives were conducted behind closed doors, measures having been taken that no correspondent should receive any information

8. All this having been settled_, he went home.

VII. Найдите ошибку в каждом из следующих предложений и исправьте ее:

1. If water freezes, it has become a solid.

2. If they have a good sale, I would have stopped by on my way home.

3. If Mr Hunt is single, I could introduce him to my sister.

4. If I had more time, I would checked my paper again.

5. We wish that you will change your mind about leaving tomorrow.

6. We will wait if you wanted to leave.

Вариант II