...Facts The Sanchez’ entered into a contract with the producers of Surprise Home Renovation to lease their home for one week. The consideration for the lease was $50,000 worth of home accessories and an all-expense paid trip to Disney World. During the lease term, Surprise Home Renovation expensed approximately $250,000 in renovating and remodeling the Sanchez home. The Sanchez’ would like to affirm the potential tax consequences of the engagement with Surprise Home Renovation. Issues 1. Should the consideration of the lease be considered rental income, prize, or neither? 2. Was the consideration received, or a portion thereof, for the leasehold rights taxable? 3. Was the compensation received for the leasehold rights adequate consideration for the lease term? 4. Is the value, or a portion thereof, of the improvements taxable to the homeowners upon reversion? Legal Discussion According of §74 of the Internal Revenue Code (IRC), gross income includes amounts received as prizes and awards, unless the income falls under a particular exception . As of 1954, §74 was enacted, in part, to overrule two cases that held a prize and award to be tax exempt. According to the Code, an exception is granted when a prize is the result of religious, charitable, scientific, educational, artistic, literary, or civic achievement. While it may be considered that the intentions of Surprise Home Renovations are civic and charitable in nature, the fact that the Sanchez’ sought...
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...One day I walked into Walmart to buy some groceries for my mom. To my surprise the whole store was blacked out and none of the lights were on. I saw big blurs bumping into everything in their path. I was so confused. It made me want to scream at my mother for sending me on this trip. I heard one lady screaming and slapping the clothes she had got tangled in. I then heard a big thud a big fat man has fallen in the paint cans on row ten. I wanted to say good bye suckers and shove everyone out of my way. I finally decided to go hunting for all these stupid groceries my mom needed. One shop worker fell over a pair of ugly flip flops laying on the floor. This was terrible I could not remember where anything was or what I was grabbing. That’s when...
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...house, it sucks because you know a few things 1. The family will be leaving 2. Presents are all handed out 3. The day is done 4. You will have to go to sleep, well I was waiting for that before my grandma and grandpa walked outside 2 hours before they said they would leave and come back with a surprise they brought balloons inside and told us we were going to Flordia! I was told that day that we were taking a family vacation with my mom, dad, brother (Gage), sister (Alaina), grandma, grandpa, aunt, uncle, and both my...
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...you a well respected citizen, well this is the world imagined in Chaucer's Canterbury Tales. This was a world re-imagined taking the norm of knight and nobility being top class, and turning it around. This promoted peasant and middle class to rise up make something for themselves. The idea that a person in the middle class could afford to go on a pilgrimage like the one described in The Canterbury Tales. Some topics focused on are in the Canterbury Tales were; why is the rise of middle class so evident in Chaurcer’s tales, and what did the rising of the middle class look and consist of? How is the rise of the middle class evident in this tale, and where is the middle class in the tale from, and why is the rise of the middle class such a surprise and so significant. Many characteristics make up the medieval time period present in Chaucer’s tale, and what is the significance of this...
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...gThai Food Fair and Chiang Mai Trip Orientation Meetings Intercultural Communication Seminar B Project L146034 KawaleePattamavichai In the Intercultural Communication seminar, I learned about cultural values, communication styles, stages of intercultural sensitivity, and stages of intercultural prejudice.We had to make a project. So,I decided to do two projects. I did the first project last year in October. The first project was a Thai food fair. The second project was Chiang Mai trip orientation meetings. In this report, I’ll explain my experiences and what I have learned about Thai food fair project, the stages of intercultural sensitivity, the stages of intercultural prejudice, prejudice game, Chiang Mai trip orientation meetings, and conclusion. Thai food fair First of all, I decided to cook six kinds of Thai food: First kind is “two different taste of Tom Yum Goong”, which is a spicy shrimp soup, second is “Poo Pad Pong Karee” which is Thai crab curry, third kind is lab Gaiis the kind of spicy and sour dish, fourth kind isKai Jiew Moo Saap which is Thai pork omelet, and the last is gaengsom which is Thai sour curry. I thought that they never tried six menu before. So, I hoped they would surprise and love it. I went to supermarket and bought some ingredients. In Thai food fair day, I went to the university early to prepare for food. It was very impressed to me that everyone helped me prepare all ingredient. They learned Thai food’s name and how to cook Thai food....
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...ACCT 5318 Tax Research – Case 5 Fall 2007 Last year, the Rattameyers, of Oakland, California, were featured on Surprise Home Makeover, a network television show in which families are chosen to receive a “home makeover” by a team of designers, paid for by the producers of the show. The show sent the family to the DisneyWorld Resort in Orlando, Florida for one week, while its team of designers, carpenters, and other construction professionals ripped out substantial portions of their home and made extravagant renovations for its television audience. The Rattameyers entered into a contract with the producers of Surprise Home Makeover in which they rented their home to the producers for one week, in return for $50,000 rent, and an all-expenses paid trip to Disney World for the entire family. The estimated value of the Disney World vacation was $15,000. While the family was away, Surprise Home Makeover’s team of designers essentially gutted the interior of their home, and rebuilt it. They replaced the flooring, wall treatments, all the major appliances, and most of the furniture. They installed a new giant screen plasma television in a new room added onto the house, built a redwood deck in the backyard complete with wetbar, grill and sink, and installed grass, trees, shrubbery and wrought-iron fencing. All considered, the show spent approximately $250,000 renovating and remodeling the Rattameyers’ home. The Rattameyers loved the new home, but even if they had been disappointed...
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...To me, it’s not a big surprise to know that so many children and women make such a trip. This is something that’s been happening for a long while. For the people who make this trip, life is extremely hard on the other side. That’s why they make such a tough decision, leaving their families behind, not knowing if they’ll ever see each other again, and risking their lives. Every day tons of children, and women venture on this trip north. They blindly make their way toward the U.S. There’s no guarantee that they will make it toward their destination, but that’s the price those women are willing to pay in order for their children to have a better future. Just like a mother ventures into the dark, so do her children. Those children are willing to make such a dangerous, and risky trip in...
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...ACCT 5318 Tax Research – Case 5 Fall 2007 Last year, the Rattameyers, of Oakland, California, were featured on Surprise Home Makeover, a network television show in which families are chosen to receive a “home makeover” by a team of designers, paid for by the producers of the show. The show sent the family to the DisneyWorld Resort in Orlando, Florida for one week, while its team of designers, carpenters, and other construction professionals ripped out substantial portions of their home and made extravagant renovations for its television audience. The Rattameyers entered into a contract with the producers of Surprise Home Makeover in which they rented their home to the producers for one week, in return for $50,000 rent, and an all-expenses paid trip to Disney World for the entire family. The estimated value of the Disney World vacation was $15,000. While the family was away, Surprise Home Makeover’s team of designers essentially gutted the interior of their home, and rebuilt it. They replaced the flooring, wall treatments, all the major appliances, and most of the furniture. They installed a new giant screen plasma television in a new room added onto the house, built a redwood deck in the backyard complete with wetbar, grill and sink, and installed grass, trees, shrubbery and wrought-iron fencing. All considered, the show spent approximately $250,000 renovating and remodeling the Rattameyers’ home. The Rattameyers loved the new home, but even if they had been disappointed...
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...her. As a result she prepared a list called “Ethically Dubious Conduct” and pasted it on the common notice board. Her colleagues were taken by surprise. Brenda was now anticipating the next lunch where she was expecting her list to be analysed among her colleagues. 2.0 Review each item on Brenda’s list and assess the conduct in question. Do you find it morally acceptable, morally unacceptable or somewhere in between? Explain. The following items on Brenda’s list may be grouped as those that are morally unacceptable: using office supplies for personal use, making personal copies on the office machine, directing company business to vendors who are friends and relatives. Using the property of the office for unofficial purposes without the consent of the authority is termed can be stealing. According to rule-based theory (Sama & Shoaf, 2005), stealing is a morally wrong act. Also the employee can be accused of being disloyal towards the organisation. The following activities can be termed as acts which are in mid way between moral acceptability and unacceptability: using the telephone calls for personal long-distance calls, changing postage on your personal mail to the company, making non-business trips in company car, making unnecessary expenses on business trips, taking half the afternoon off in office when you are out for business trips. It may be argued that these acts are not against the law but they can be morally incorrect. The following activities can be morally acceptable...
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...flight indeed. The in-flight dinners were a lot better than I thought they would be I was expecting something way worse and they actually were not bad at all to eat I was pleasantly surprised. The airport at Heathrow was really big and it was a surprise to me that we were driving on the left side of the road even though I knew they did that in England it still came as a surprise to actually see it in action. The second flight went by very quickly for me because I was so excited to get to Denmark. Some of the first things that I noticed when I got Denmark that was different were all the biking and walking everyone does. Also the fact that everything is more expensive in Europe as compared to the United States it came as a real shock to me but I should have realized that with all the taxes they have that it has to be. The McDonalds in Europe was also a surprise the food was less greasy to say the least and since I hate greasy fast food I actually thought it wasn’t half bad compared to the food in America. But also the price again shocked me. But overall it was a great beginning to the trip. Day 2 Orientation to the program went by very fast for me because I was so excited to get the trip on the road I was also a little tired from the trip. But I...
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...There are many endangered species, one of the biggest in California is the Sea Otter. Right now there are roughly 3272 sea otters in California. Viewing these statistics we could educate kids about these animals, but these state parks also offer you more to see. That’s why California would be a great place to visit these animals. California is a great learning experience because of Bodie State Park, Santa Cruz Pier, and El Dorado Nature Center. At Bodie State Park there is a variety of things to learn. Bodie State Park is a ghost town that was big on gold. It’s been preserved and you can view all around it. There is a Stamp Mill that is 116 years old. You can learn all about how gold was extracted from quartz. One of their biggest tours...
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...Christian Reagan Reagan 1 Melissa Fasolino English 4 October 20th, 2014 Describe a setting in which you have collaborated or interacted with people whose experiences and/or beliefs differ from yours. Address your initial feelings, and how those feelings were or were not changed by this experience. This past summer I was blessed with the opportunity to go on a mission trip to New York City. Our mission in the morning was to help teach English Second Language class that was located in the Muslim community. I was very nervous going into the start of the trip because I was unfamiliar with the Muslim culture and had no clue as to how they would react being taught by Christian’s who also were attempting to spread Christianity to them. Much to my surprise the students of the class were extremely kind to us. They all greeted us with the American handshake and hello as well as a traditional formal greeting commonly practiced in the Muslim culture. The students were very attentive during class making it clear they were eager to learn the English language. Many of the students had been attending the class for several months to a few years, and wanted to do nothing more than stay and chat. They were all men from the ages of 30 to even 67, several of whom had doctorates in fields such as physics and chemistry and decided to quiz our skills in the subjects and were quite disappointed that we didn’t know a lot of information that to them in their home countries was considered...
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...Kalee McGuffee had the experience of a lifetime at the age of 17. How many people can actually tell you adventures that took place in Australia? “It was a trip I will never forget!” stated the overly excited Kalee. Kalee went on to further explain how the opportunity had fallen into her lap, “My dad is a marine biologist. So they decided to take an intern for the summer, and when they asked I couldn’t help, but say yes!” When asked about her adventures she came up with many fascinating stories that had taken place over the three month period. “The most exciting part of the entire trip was the deep sea fishing. We had been going out for almost four days straight before we finally caught what we were after.” What they happened to be after...
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...Mt. Rainer There are many beautiful places I had been to, and the nature always makes me feel pleasantly surprise. Mountain Rainer is one of place, which I had been to there for many times in my dream. When I plan the trip of Seattle with my girlfriend, the Mountain Rainer is actually do not in it. My girlfriend is a totally foodie, so the plan of trip is surround by many famous restaurants. Seattle is a good place for living, the commodity prices is not too high, and people are not rush for life. If it compare with some other same size city, I would like choosing live in Seattle. In the third day of trip, I saw a snowcap when I stood in front of my hotel’s window. It looks like the Qilian Mountain in my hometown. My girlfriend also like it, so we did some quick search in Google, and made a simple plan for travel to the Mountain Rainer. When I drive about three hours, my car enter into a straight road, which I can saw the snowcap more and more clearly. The Mountain Rainer is like a glamour girl stood in there very calm. I was completely charmed by her beaut. I stop my car in a rest area of national park, and walk in a trail. There are many high trees in the foot of mountain, and I can hear flow of water. Everything was quiet, and the fresh air wash over my face with little rain. The environment surround me makes me felt same with home. There is no modern building in there, only the original nature. Human, animal and nature are very harmony. I like the taste that mixes rain...
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...MKT 4468 Hyundai Trip report I have a trip to Hyundai Motor factory with class 2 days ago, it is the first time I have been at a motor factory and I have to say that this trip has changed my view regarding this Korean Motor manufacturer pretty much When I got there, I had an opportunity to get inside each Hyundai model like Equus, Genesis, Elantra and Sonata, the feeling was so great. I always thought Korean auto manufacturer like Hyundai or KIA comes with decent quality as well as base-interior , and that was the reason why I had changed my mind : The luxury of Equus was not less than 7-series from BMW at all, but what made me impressed the most was the price: you can get a Fully Loaded Equus for only $61,000 compared to $95,000 for a BASE edition from BMW or Mercedes, it clearly beat them all . And when my professor said Equus had been used for Korean prime minister, I had no any reason to doubt the quality of this model Beside the luxury model such as Equus or Genesis, my thought had been changed either with compact sedan models, were 2014 Sonata and Elantra. One of my friend owned a 2005 Sonata, and he had a bunch of mechanic problem with it since he bought, I kept in mind that Hyundai cars did not come with quality. BUT, once again, my thought had been changed when I got inside model 2014 Sonata, I had to say that I was trully impressived about the interior as well as equiment which came with it. Another thing I had to admit was that the Interior space...
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