UICI Shareholders/Owners
Understanding Pre-Incorporation Expenses
Owner & Principal
Steps & Reasons To Establish A New Corporation
The Power Of Passion
Understanding Regulation A +
UICI's Section 1244 Stock
Understanding Pre-Incorporation Expenses
Understanding Gifting & The Gift Tax
Excerpts From Dr. Boyce Watkins - 10 Commandents of Black Economic Empowerment
Videos For Personal Growth & Increased Understanding
Well Documented Videos That Might Explain The Way The World Is
Self Help & Motivational Videos I
Self Help & Motivational Videos II
Self Help & Motivational Videos III
Self Help & Motivational Videos IV
Self Help & Motivational Videos V
Videos That Will Help You Understand The Magnitude Of The Problem
 
Understanding
Pre-Incorporation Expenses
 
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The IRS will allow UICI™ to deduct up to $5,000 or the actual startup costs (whichever is less), and $5,000 in organizational costs in the first year, whichever amount is less. However, if UICI™'s costs exceed $50,000, our deduction will be reduced by the amount we go over. If our start-up expenses exceed $55,000, we won’t be able to claim the $5,000 deduction for the first year. {Business dictionary definition of pre-opening expenses}
For example, if our start-up or organizational costs are $51,000, our deduction is reduced to $4,000. If our start-up or organizational costs are $55,000 or more, the $5,000 deduction is completely phased out for the first year. If our startup or organizational costs are $3,000, this is the amount we can deduct since it is less than $5,000.
Whatever portion of our startup costs that we can't deduct during the first year can be deducted over the next 180 months of operation, starting with the month after we incorporate. Startup costs that can be deducted fall into one of two categories: money spent investigating opening a business and money spent to get UICI™ started before it is actually incorporated. For example:
1. Deductible startup costs associated with investigating a business opportunity include market surveys, visiting prospective business facilities, product analysis and labor surveys, whether you perform them yourself or pay a consultant to do so for you.
2. Deductible startup costs associated with getting UICI™ ready to open include advertising, wages paid to employees in training and their instructors, and travel costs incurred to find suppliers and distributors of raw materials and customers to buy any finished products we may have. Small equipment purchases (less than $1,000) also fall under the heading of deductible startup costs.
3. Large equipment purchases (over $1,000) are not deductible as startup costs as they need to be depreciated over time once put to use in the running of your business. Costs such as taxes, loan interest and expenses for research and experimentation are not deductible as startup costs, although they may be deductible as ordinary business costs.
Under existing tax law, we can deduct or amortize (deduct the expense over a number of years) certain costs incurred while setting up UICI™. These costs must be incurred before the end of the first tax year, and chargeable to a capital account. They can be amortized over the amount of time UICI™ exists.
UICI™'s deductible organizational costs include incorporation fees and related legal expenses, the cost of meetings to organize the corporation and salaries paid to temporary directors. They exclude costs for issuing stock or other securities and any costs related to transferring assets to UICI™.
Under previous tax laws, the IRS required all taxpayers with business startup costs to decide whether to deduct the appropriate amount in the first year or amortize over a period of years. Following the passage of the American Jobs Creation Act of 2004, the IRS makes the assumption that taxpayers will want to take the deduction in the first year if they can. Once the Board of Directors makes the decision, it cannot be revoked.
Even though I have said this over and over, one more time will not hurt. Everyone involved in UICI's start up must be able to back up his/her expense claims with hardcopy receipts, pre-incorporation invoices, time sheets and/or agreements. {Click here for additional information about pre-incorporation expenses}

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Why Entire Articles,
Post Or Information Is Reprinted In Its Entirety
 
Whenever, an article, post or information is discovered that is well written, the entire article, post, or information is reprinted in its entirety because no one really knows how long it will be on the Internet or simply replaced. So as not to lose the insight that is given, it is reprinted with a link to the original source or information relative to the original source.

It is important for the owners of Unity International, Inc., - the shareholders to know that all the information; including pictures from the public domain, that are hosted on Independent Markeing Group's server/s are in strict compliance with the Fair Use Doctrine. {Click here for the Copyright Fair Use Index to Court Cases} 17 U.S. Code 107 - Limitations on exclusive rights: Fair use - that clearly states the following in pertinent parts;

 

“Notwithstanding the provisions of sections 106 and 106A, the fair use of a copyrighted work, including such use by reproduction in copies or phonorecords or by any other means specified by that section, for purposes such as criticism, comment, news reporting, teaching (including multiple copies for classroom use), scholarship, or research, is not an infringement of copyright. In determining whether the use made of a work in any particular case is a fair use the factors to be considered shall include—

 
           (1) the purpose and character of the use, including whether such use is of a commercial nature or is for nonprofit educational purposes;
 
           (2) the nature of the copyrighted work;
 
           (3) the amount and substantiality of the portion used in relation to the copyrighted work as a whole; and
 
           (4) the effect of the use upon the potential market for or value of the copyrighted work. The fact that a work is unpublished shall not itself bar a finding of fair use if such finding is made upon consideration of all the above factors.”
South Carolina & Federal
Laws Governing Unity's Operations
 
15 US Code 77b, (Definition of Securities),
15 US Code 78n, (Proxy Voting),
 
 
 
Standing Committee - A permanent committee, as of a legislature, society, etc., intended to consider all matters pertaining to a designated subject. The highest policymaking body of an organization that is composed of its leaders, elected officers and/or elected representatives. {Click here for more infor mation relative to Securities}
The Standing Committee the owners established on August 28, 2015, reports to the owners and/or principals of Unity. {Click here to review the August 28th Resolution}
The Board of Directors report to the Standing Committee whenever a meeting is called. Principals or owners have access to any and all information relative to the progress of Unity..and can contact Compliance Directors for updates during normal business hours at the Registered Agent's office.
George M. Sistrunk - 803-347-6638
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2015-2016 George M. Sistrunk.  All Rights Reserved. POB 217  Orangeburg, SC 29116 - Fax: 803-268-0716
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