Bud Has Devoted His Life to His Business, the BK

question 63

Essay

Bud has devoted his life to his business, the BK Partnership, in which he owns an 85% capital and profits interest. Because he has worked so hard all his life, he never married and has no children. He has decided to give a 25% capital and profits interest to Berry, a close friend, if Berry will work in the business for five years. Berry will receive guaranteed payments for his work. Bud devotes all his time to the partnership, but he takes no salary. What tax issues should Bud and Berry consider with respect to the gift of the partnership interest and Bud's employment arrangement with the partnership?

Recognize how societal and cultural factors contribute to the development and understanding of depression.

Differentiate between the attributions and perspectives that contribute to depressive and manic states.

Understand the impact of life situations and stress on depression.

Identify the symptoms and diagnostic criteria of mania and depression according to DSM-5.

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Definitions:

Subliminal Perception

The processing of information by sensory systems without a person’s conscious awareness.

Altered State

A condition which is significantly different from a normal waking state, induced by various means like meditation, drugs, or hypnosis.

Posthypnotic Suggestion

involves instructions given to a person under hypnosis that are to be executed after the hypnosis session has ended, often used to change behaviors.

Mindfulness Meditation

A practice of maintaining a nonjudgmental state of heightened or complete awareness of one's thoughts, emotions, or experiences on a moment-to-moment basis.