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I understand publicly traded companies may be a bit different-stockholders enjoy the profits and suffer the losses. A private company the owner (be it one person or a family trust) enjoys *all* the profits. If the Suleiman family (a private company) decides to experiment and go "outside the bubble" and they purchase land beyond Eastport--build (and finance) a new restaurant--and the restaurant goes bust because of their unlucky decision; should we still expect the family to make good on payments to builder, bank, suppliers, contractors, and employees? Or can they just say "Sorry-soft opening. We are declaring bankruptcy for *that* restaurant." Our would we expect them to step up and do the right thing and use family money to pay off their debt? It would be opportune to borrow money and keep just the profits but declare bankruptcy anytime you have losses. I wish Vegas casinos operated like that...LOL |
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Audit
An independent audit of the corporation needs to be done and those receiving income through IRS filings need to be tagged for paying off the bills of this bankruptcy filing.
We know for sure Humana is doing an audit before spending their money and closing. They will identify the leaks and any misspent funds. |
Tvh
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All I know is that my doctor has already “retired “
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It would be nice if the owner gave us some answers. |
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Single member LLC's can be disregarded for tax purposes and the income or the loss reported on their personal return. Multiple member LLC's are reported as either partnerships or corporations. If they have less than 100 members they can elect to taxes as a S Corp avoiding double taxation. Most large LLC's are taxed as C Corporations.. Most small business are able to avoid double taxation. Most large businesses don't. There is no lower administrative cost because they are a LLC. The concept of not being able to pierce the corporate veil is what protects investors and allows them to be able to invest in small businesses which may grow larger. Remove the corporate veil and you can say goodbye to many corporate startups and the economy |
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"A corporation is a legal entity that exists independently of its owners. This corporate structure protects shareholders from being held personally liable for business debts. Corporate status also means that the company can, on its own behalf, enter into and enforce contracts, buy and sell property and own assets, and make political contributions." |
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UnitedHealth Doctored Medicare Records, Overbilled U.S. By $1 Billion, Feds Claim - KFF Health News |
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