A sixty five year old woman named Nancy smoked a pack of cigarettes a day for 45 years. Then one day she began to cough up blood and suffer chest pains which were dull, aching and persistent. Her family doctor sent her for chest X-Rays and the radiologist detected a tumor in her right lung. The biopsy showed that it was cancer. Nancy was prepared for surgery. The surgeon came into the room, cut open Nancy’s chest, looked at the golf ball sized tumor, and said, “Well, other than this tumor, she looks fine." The surgeon did not cut out the tumor, he just told his assistant to sew her up. Six weeks later Nancy died.
Last Thursday, Oct. 11, 2007, 138 leading Muslim scholars, political and religious leaders from around the world sent an olive branch of peace, a 29 page letter to Pope Benedict XVI, the Archbishop of Canterbury, and all Christian leaders worldwide. At the end of the letter the Muslim scholars and leaders refer Pope Benedict XVI to their website, http://www.acommonword.com “The Offical Website of A Common Word". The letter can be read and downloaded at the website, along with letters of congratulations from Christian and Jewish scholars and politicians, including Tony Blair.
On the top right of the homepage it says “Link!" If Pope Benedict XVI uses his Holy Mouse to click on the word “Link!" he will find a request to add the link and banner from the Muslim scolars’ website to the official website of The Holy See, http://www.vatican.va/ along with the HTML code for the banner. The present Page Rank of “A Common Word" is zero but with world wide mainstream coverage of the Muslim scholars’ letter and religious and educational institutions and individuals world wide now linking in, it will not be long before the Muslim scholars’ website surpasses the Vatican’s Page Rank of 8. At this point Pope Benedict XVI is sure to issue a Papal Bull directing every Catholic to link to his website. The advertising potential is astronomical.
Last Friday, Oct. 12, 2007, the top Vatican official in charge of Catholic relations with Islam and all other religions, Cardinal Jean Louis Tauran told Vatican Radio that he found the letter “very interesting", in part because it was signed by both Shiite and Sunni Muslims and made numerous references to the Old Testament, New Testament and the Koran, which are all followed by Islam. Cardinal Tauran said that he welcomed the fact that the letter was not controversial, argumentative or disputatious. Unfortunately, this is where the Muslim scholars’ letter falls on its face and misses a glorious opportunity to heal the rift between Christianity, Islam and Judaism now leading us all into nuclear world war III, the Apocalypse.
The Muslim scholars, political and religious leaders’ letter states at the bottom of page 15 and the top of page 16, that if the Muslim and Christian worlds do not now resolve their differences, “The very survival of the world itself is perhaps at stake." The Muslim scholars’ solution for making peace between Christianity, Islam and Judaism is to unite under a common word, “Love", and the two most important commandments in all three religions, “Love God" and “Love your neighbor as you love yourself."
The Temple of Love – The World Peace Religion http://www.thetempleoflove.com makes peace among and unites Christianity, Islam, Judaism and Everyone else by tying them together with their common threads and resolving all of their differences once and for all. The glaring problem with the Muslim scholars’ letter to the Christian leaders is that it makes no mention of the differences between the religions let alone resolving them. We are talking about the countless commandments in the Bibles for the members of Christianity, Islam and Judaism to kill all of the innocent men, women and children outside of their group because they are all devils.
The Koran reads “Make War on the Christians and Jews and infidels for great eternal rewards." (Sura Chapter 9:5, 29-30, Sura 56). The Christian Bible says that when the Messiah of Islam and Christianity returns, Jesus Christ, he will command his followers and angels to throw all of the non believers into the fire, because they are all devils. (Matt. 13:36-43). Pslam 2 of the Old Testament of Judaism, now followed by Christianity and Islam too says that the Messiah will smash all of the non believers like a potter’s vessel with a rod of iron into a million pieces and conquer the world for each religion. Christianity, Islam and Judaism and their Holy Bibles command genocide and they are the root cause of the West’s “War on Terror" aka “The War Against the Muslims", the Muslim worldwide Jihad against all non Muslims, and the obstacle to peace in the Middle East, and as long as these religions exist there will never be peace on earth, according to their own God of Mount Sinai in their own Holy bibles. God of Mount Sinai commands that these three religions now be purified down to their magnificent essence in order to save life on earth from extinction and to lead the people of earth to everlasting peace on earth.
The Temple of Love – The World Peace Religion’s 10 page website is the part of the three Bibles which your religious leaders will never teach you because their own God’s plan for everlating world peace in their own Holy Bibles calls for an end to Christianity, Islam and Judaism and your religious leaders’ power and control over you and the vast fortunes they are making off of you.
In the 3 Holy Bibles, God of Mount Sinai aka God the Father, Jesus Christ, The Holy Spirit, Allah, Yehovah, Elohim says through every single Biblical Prophet in the 3 Bibles that the way to everlasting peace on Earth is to purify Christianity, Islam and Judaism down to their essences, belief in God, belief that God of Mount Sinai is that One God, belief that God of Mount Sinai Himself carved His Word, the 10 commandments in stone Himself, and above all for the people to follow and obey God’s word, “10ve", the 10 commandments. This new religion is The Temple of Love – The World Peace Religion. According to God of Mount Sinai the three Holy Bibles must now be thrown into the fire, except for the two tablets, before these bibles are leading us all into the fires of Nuclear World War three. According to God of Mount Sinai these three holy bibles are the cancerous tumor about to kill us all, and God says in the Bibles that the tumor must now be cut out and set aside.
God promised that your surgeon, your Messiah would command his angels to do this upon his return. Your religious leaders will never allow it. Now it is up to the congregants of every Synagogue, Church and Mosque to do this to save life on earth from extinction, and change the name of your place of worship today to “The Temple of Love – The World Peace Religion". The alternative is to stay the course, and allow your religious leaders and Holy Bibles to lead you all into extinction in the Apocalypse.
Your Muslim and Christian leaders are all following the book of Revelations, which promises that in nuclear world war three, the apocalypse, the earth and Heaven will be destroyed, and then a new earth and a new Heaven will appear and a new Jerusalem will descend from the sky. The New Testament was written in Greek by Greek authors. What your religious leaders will never tell you is that the Revelations story of Prince Jesus flying down from Heaven on his flying horse to defeat the snake, goat, lion Beast, Satan, is a dead on plagiarism of the Greek Myth of Prince Bellerophon on his flying horse Pegasus slaying the snake, goat, lion Chimera. God in your Holy Bibles said that your bible writers were breaking the third commandment and taking his name in vain to ceate your bibles, by signing their own stories “God". God said, “They have prophesied falsehood and lying divination; they say, ‘Says the Lord’, when the Lord has not sent them, and yet they wait for the fulfillment of their word!" (Ezekiel 13:6). The prophets Ezekiel, Isaiah, Jeremiah and Malachi were there and saw the bible writers doing this endlessly, and they warned us of the catastrophic consequences now upon us all.
God of Mount Sinai in the three Holy bibles called your bible writers a bunch of ignorant confused drunks who were signing their own stories, “God", and prophesying by Baal, Beelzebub, Satan, (Jeremiah 2:8) and creating for the people a shelter of lies and falsehoods which would cause the people to go and fall backwards and be ensnared and taken and burn in the fire. (Isaiah 28:9-15, Matt. 23).
God promised to send a Messiah, a Messenger, to take great rocks of hail and tremendous windstorms and wash away your Holy Bibles forever, all except for the two tablets, in order to create everlasting peace on earth. The bottom line is that this plan works, and the map of your religions leads to the people of earth soon burning alive in the fires of nuclear world war three, waiting for a Greek cartoon character to come and save them. Save youselves, you have the ability. The way to everlasting peace on earth now is for 200 people to stand up today at the United Nations and agree to stop fighting permanently. It’s that simple. Use your own minds now, and change course before we all shortly pass the point of no return. The Muslim scholars and leaders buzzed all around the net without scoring and they are to be thanked and congratulated for bringing us this far in a historic and unprecedented move towards peace, but now let us finally kick the ball into the net. Link exchange requests to the Pope; what’s next, spamming Oliver Cromwell?
All your personal assets are at risk. A business-related accident or lawsuit could literally wipe you out.
How do you solve this problem? By forming a "C" Corporation, an "S" Corporation, or a Limited Liability Company (LLC).
Here's a quick overview of the major characteristics of these three entities:
C Corporation. The profit of a "C" Corporation is taxed twice -- once to the corporation and a second time to the shareholders when distributed as dividends. (This is the dreaded "double taxation of corporate profits"). However, shareholders cannot deduct any losses of the Corporation. The "C" Corporation files Form 1120 to report its income and expenses to the IRS.
S Corporation. If your business qualifies, it can avoid double taxation by becoming an "S" Corporation. An "S" Corporation generally is exempt from federal income tax, but still must file an income tax return called Form 1120S. The income or loss of the "S" Corporation is transferred from the corporation to the individual shareholder's personal income tax returns via Schedule K-1, which the corporation must give to each shareholder.
Limited Liability Company (LLC). This is the newest entity type. From a legal standpoint, the LLC is much like a corporation, offering limited liability to the owners (which are called "members"). From a tax standpoint, the LLC is like a chameleon -- it can be taxed however it wants to be taxed, provided the proper paperwork is filed with the IRS. If there is only one owner/member, the LLC can be taxed like a sole proprietorship, a "C" Corporation, or an "S" Corporation. If there are two or more owners/members, the LLC can be taxed like a Partnership, a "C" Corporation, or an "S" Corporation.
Please note that I'm leaving the limited partnership out of this discussion. I'm assuming that you want a say in the day-to-day management of your business. If so, then both the general partnership and the limited partnership are not a good Choice of Entity for you. Why is that? Because if your business is a general partnership, then you automatically have unlimited liability. And if your business is a limited partnership and you want management control, then you're going to have to be the general partner, and again, you'll have unlimited liability.
There are certainly business situations for which the limited partnership is a "good fit" (for example, if real estate is involved). But that's beyond the scope of this article.
So, back to my original question:
How do you avoid unlimited liability? By forming one of these entities: a "C" Corp, an "S" Corp, or a LLC.
Having made such a bold statement, let me also say this: when it comes to this choice of entity issue, one size does not fit all.
So let me add a strong disclaimer: there are situations where a "C" Corporation, an "S" Corporation, or a LLC is not appropriate.
But generally speaking, for many small business owners and self-employed people, one of these three entities is the best fit.
Remaining a sole proprietor or a general partnership doesn't make much sense -- you are putting yourself, your family, and all your personally owned assets at risk.
Both Karen Fish & Wayne M Davies are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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