first_imgHIGHLY REGARDED ENCODER HEADS SUNDAY’S $100,000 ZUMA BEACH STAKES FOR 2-YEAR-OLDS AT ONE MILE ON TURF  ARCADIA, Calif. (Oct. 3, 2019)–One-two finishers when last they met, Hronis Racing’s Encoder and Rockingham Ranch’s Billy Batts will renew acquaintances as they head a field of seven juveniles going one mile on turf in Sunday’s $100,000 Zuma Beach Stakes at Santa Anita.Separated by a head in the one mile Del Mar Juvenile Turf Sept. 1, Encoder, who was off as the 3-5 favorite, again rates top billing with Flavien Prat riding back.ENCODEROwner:  Hronis Racing, LLCTrainer:  John SadlerA first out five furlong turf maiden winner at 3-1 on Aug. 7, this Kentucky-bred colt by English Channel would appear to have any kind of future as he tries to remain unbeaten in his third start. Similar to his plan of attack first time out, Encoder was attentive to the pace in the Del Mar Juvenile Turf as the 3-5 favorite and pounced late with Prat, who has been aboard for both wins.BILLY BATTSOwner:  Rockingham RanchTrainer:  Peter MillerOff at 3-1 in the Del Mar Juvenile Turf, this ridgling by City Zip went to the front immediately, opened up by two lengths at the half mile and gave way grudgingly to Encoder in a game effort.  Based in Kentucky for his first three starts, Billy Batts broke his maiden two starts back going a mile on grass at Del Mar Aug. 10. He’ll be ridden for the first time on Sunday by Norberto Arroyo, Jr.THE $100,000 ZUMA BEACH STAKES WITH JOCKEYS & WEIGHTS IN POST POSITION ORDERRace 4 of 8 Approximate post time 2 p.m. PTHariboux–Drayden Van Dyke–120Encoder–Flavien Prat–124Hit the Road–Victor Espinoza–122Billy Batts–Norberto Arroyo, Jr.–122Club Aspen–Jorge Velez–120War Beast–Abel Cedillo–122Cool Runnings–Kent Desormeaux–120First post time for an eight-race card on Sunday is at 12:30 p.m. For additional information, please visit santaanita.com or call (626) 574-RACE.last_img read more

Is It Time to Incorporate?

first_img Post navigation Except during bouts of insomnia, I’ve never given much thought to the issue of business structure.Sure, I know in theory that a business can incorporate, and that incorporation provides the business with benefits such as tax flexibility, protecting the owners from personal liability, and raising money by selling stock.Every time I’ve looked into whether I should incorporate my own business, however, it has never made sense.It would require a stack of paperwork. I’d have to pay a registration fee and annual renewal fee to the state of Washington. It would make my taxes more complicated without saving me more than a few dollars, if that.And because my business consists of one person writing columns, incorporating would be unlikely to provide me legal protection if I were to commit libel or otherwise get sued.So I’ve stuck with the most common business type in the US: a sole proprietorship. According to the Census Bureau, about 71.5% of US businesses are sole props.Tax-wise, being a sole prop is relatively simple.You have to file quarterly estimated taxes with the IRS, and then file a Schedule C and Schedule SE with your 1040 in April, but TurboTax and other tax software makes it easy. The state business license cost me $15, and renewal is free.Recently, however, one of my hobbies has turned into a business, and a sole proprietorship isn’t going to cut it. I’m going to have to learn about business structure, whether I like it or not.Two heads are better than one, except for tax purposesMy friend Molly and I co-host a comedy podcast. I’m not going to mention the name because lord knows I’ve promoted my own stuff in this column enough lately.We’ve been doing the podcast for over three years and, except for one advertisement from a local company in the early days, have never made any money at it.But we’ve slowly built up a loyal audience of listeners around the world. (The fact that you can crack a joke in Seattle and make people laugh in Singapore is one of my favorite things about the modern world.)A couple of months ago, perhaps inspired by that Amanda Palmer TED Talk, we realized, hey, we could ask our listeners for money.For $5/month, we offered listeners a handwritten postcard and access to a growing library of premium content.To our surprise, people actually signed up. Not a huge number, but enough that suddenly our dumb hobby was paying for itself.Great for us, but we’d need to share the news of our minor success with our friends at the IRS, the Washington Department of Revenue, and the city of Seattle.Easy, I said: I’ll just consider the podcast part of my sole proprietorship, pay Molly as a contractor, and issue her a 1099.This is perfectly legal, but (a) it’s a pain to disentangle the podcast income and expenses from those of my writing business, and (b) it’s not especially fair, since the podcast isn’t really my business, it’s a joint effort.Furthermore, if we wanted to hire a tax preparer to handle our business taxes (which we might want to do), it would be impossible to do so without also turning over responsibility for preparing my own tax return (which I don’t want to do).So we need to look at a business structure that reflects Molly’s and my joint ownership of the enterprise (trust me, describing our show as an “enterprise” is droll) and separates the potentially hairy parts of the business taxes from my own taxes.As the personal finance columnist in this business relationship, it falls to me to investigate the possibilities, and I’m looking at three.A general partnershipA partnership is essentially the group version of a sole proprietorship. It requires no special paperwork to form one, just a business license.Partnerships file a tax return with the IRS and pass all profit or loss on to the partners via the K-1 form. Partners are personally liable for all of the partnership’s debts.A limited liability company (LLC)An LLC, in most cases, works the same way as a partnership, but as the name implies, the legal liability of the owners is limited. If our company goes bankrupt, creditors can’t come after my personal funds unless I act negligently.We don’t have any creditors at this point, but that could change when we decide to construct a theme park.LLCs require more paperwork and fees than partnerships. In Washington State, the initial fee is about $200 and there’s an annual renewal fee of $69. The federal and state tax filing is similar to a partnership.An S CorporationThe “S” actually stands for subchapter S of the Internal Revenue Code, but you can think of it as a “Small” corporation.An S Corporation is limited to 100 or fewer stockholders and is restricted in other ways compared to (usually larger) C Corporations.In exchange for meeting the restrictions, S Corporations can save their owners on taxes in various ways and are generally more flexible in structure than a partnership or LLC.The fees for an S Corporation in Washington are the same as for an LLC, but the paperwork is much more heavy-duty.You have to hold an annual board of directors meeting and take minutes (adult beverages may be served), and the corporation would have to file its own tax return and pay Molly and me as employees.I’ve tentatively decided that an LLC makes the most sense.It keeps the paperwork to a minimum while providing us some legal protection in the event that, well, I can’t actually think of how we could end up in debt since our business consists of sitting around and talking. But it couldn’t hurt.Plus, we get to put “LLC” at the end of our business name, which sounds totally legit.There are a lot of other nuances to the decision of when and how to incorporate. These are just the very basics.(It’s possible, for example, to be an LLC but be taxed as an S Corporation and zzzz….)For a more detailed but still gentle overview, I recommend Mike Piper’s book LLC vs. S-Corp vs. C-Corp Explained in 100 Pages or Less.If you own a small business, how did you decide on a business structure, and have you been satisfied with the decision?Matthew Amster-Burton is a personal finance columnist at Mint.com. His new book, Pretty Good Number One: An American Family Eats Tokyo, is available now. Find him on Twitter @Mint_Mamster.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window) Relatedlast_img read more

10 Scientific Discoveries That Are Important to Know About If You Care About Your Health

first_imgA person’s health directly depends on their lifestyle. And this is why we absolutely have to keep track of the latest scientific discoveries concerning health. For example, scientists have recently learned that dim light makes us dumber, drinking hot tea can be extremely dangerous, and there are a thousand times more bacteria in fitness clubs than in public restrooms.We have collected 10 recent medical discoveries that everyone needs to read about.1. Brain aging starts at the age of 25The scientists from the Medical University of Gdansk, Poland, and Lancaster University, UK, have learned how to track the pulsation of spinal fluid. Thanks to this, they learned that the pulsation frequency slows down starting from the age of 25, which means that the human brain starts aging from the age of 25, and not at 40 as was previously believed.2. More bacteria is found in gyms than in bathroomsThe team at the credible fitness resource, Fitrated.com has done their own research and found out that the risk of getting an infection in a gym is much greater than that in a public restroom: the study found 326 times more bacteria in a gym than on any toilet seat. Besides, more than 70 % of the bacteria are potentially dangerous for people as they can easily cause a cold or a skin disease. The most contaminated places in gyms were stationary bikes and treadmills. Specialists recommend taking the simplest safety precautions: use anti-bacterial wipes, don’t touch your face with your hands and don’t walk barefoot in the locker room or the shower.3. Sleep can ward off sugar cravingsThe scientists from the King’s College of London, UK, conducted an experiment with 42 perfectly healthy volunteers of normal weight who slept less than 8 hours a night. Half of the participants had to sleep less than usual for one month. Also, the participants were asked to write down everything they ate. At the end of the experiment, the duration of sleep increased by 21 minutes on average. The analysis showed that even this insignificant increase in sleep led to the decrease of consumption of sweet food by 10 grams a day which is one-third of the daily norm. Sleeping longer also led to a decrease in the interest of carbohydrates.4. Hot tea could increase the risk of developing cancerChinese doctors claimed that it was dangerous to drink hot tea. For 9 years, doctors had been keeping track of the eating habits and health of almost 500,000 people aged from 30 to 79 years. The specialists found 1,731 cases of esophageal cancer among the subjects. The scientists also found that this disease was found 5 times more often among the patients who drank hot tea on a regular basis. The doctors made a conclusion that beverages hotter than 149 °C could harm the internal organs. Additionally, these complications are often caused by smoking and drinking. All these bad habits can lead to cancer.5. Dim light makes us stupidThe scientists from Michigan State University conducted a study that proved being in dimly lit rooms worsens brain productivity. During the experiment, mice were kept in conditions where there was little light. For people, a gloomy winter day can have the same effect as a dimly lit room. As a result, the mice that were living in darker conditions forgot most of what they had been taught before, and they hardly did the tasks which they had easily done prior to the experiment. When the mice were later kept in bright daylight, the productivity of their brains restored completely.The researchers concluded that dim light worsens the connections between neurons and leads to the decrease in intelligence. In other words, dim light it makes you dumber.6. Imagination can help decrease painA psychologist at Leden University Kaya Peerdeman made a funny discovery when she was studying the placebo effect. It turned out that if you imagine that having an injection is painless, you actually might have less pain. This was proven during an experiment where participants were asked to put their arm in cold water for some time. Then, they were asked to do this again but while imagining that their arms were protected by a waterproof glove. Surprisingly enough, the placebo effect worked and the participants really experienced less pain when they put their arms in the cold water while using their imagination.Peerdeman is planning to check this method of pain relief using the imagination on real patients who are about to have a surgery.7. Muscles get older due to mutations in stem cellsA new study by researchers at Karolinska Institute in Sweden shows how an unexpectedly high number of mutations in the stem cells of muscles can impair cell regeneration. They found out that by the age of 70, every stem cell has undergone more than a thousand mutations. The DNA “breakage” is the consequence of cell division. But at a young age, the mechanism of restoring the nucleic acid works very well compared to that in an older person. Now scientists want to find out if physical activity in old age can slow down this pathological process.8. Early baldness can be a sign of a heart conditionMore than 2,000 young men living in India were observed during this study. Scientists found that those who had cardiovascular problems became bald early or their hair turned grey. So, early baldness in men younger than 40 could be a sign of upcoming problems with the cardiovascular system.9. Pride saves old people from fallingAs you probably know, elderly people fall more often than young people for a number of reasons. The main reasons being bad eyesight, motor impairments and a sedentary lifestyle.But the scientists at Aberdeen and Sterling Universities conducted a few studies and found that elderly people who were confident and proud fell 19 % less than those with poor confidence of the same age. During future research, they will try to understand the mechanisms that explain this interesting phenomenon.10. The secret to a long is revealedScientists from Northwestern University had been observing a group of people aged between 80 and 100 years old who didn’t have the slightest signs of dementia, and discovered the secret to their longevity. You should know that most of the subjects of this study were regular smokers, drank alcohol, loved coffee, didn’t have any special diet, and some of them even ate harmful foods like French fries and hamburgers — and none of them slept 8 hours a night as doctors recommend. But all of the participants were similar in that they had a very optimistic outlook, were emotionally stable and socially active.The leading author of the study, Professor Emily Rogalski, came to the conclusion that a positive life view protects us from dementia better than a good diet or absence of bad habits.Sourcelast_img read more