...University of Phoenix Material Understanding Taxes Worksheet Resources: The United Stated Internal Revenue Service at www.IRS.gov Directions Use the links provided for each tax form to answer the corresponding questions in 50- to 150-word responses. Understanding the 1040 Form Visit the 1040A Form at http://www.irs.gov/pub/irs-pdf/f1040a.pdf 1. Compare and contrast the 1040, 1040A, and 1040EZ forms. Which form would a single student use? If the student was married with children which form would most likely be used? The single student could use the 1040EZ form. That form is meant for someone who has an uncomplicated tax return to file. The student who is married should use the 1040A form because they do not qualify to use the 1040EZ form, as theirs will be a more complex return to file seeing as they have dependents. 2. If a person is single and the head of household, why would he or she be able to file “head of household?” Are there any benefits from filing as head of household, rather than single? They can file Head of Household if they provide for more than half of the expenses for maintaining a home. Filing for Head of Household puts you in a higher tax standard deduction and has a wider bracket for taxes. This means that they could get a bigger tax return instead of just filing as single. 3. Define capital gains. What impact can they have on a refund or payment of taxes? This is the amount you gain when you sell something for...
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...------------------------------------------------- Course Syllabus FP/101 Foundations of Personal Finance Course Start Date: 08/13/12 Course End Date: 10/14/12 Please print a copy of this syllabus for handy reference. Whenever there is a question about what assignments are due, please remember this syllabus is considered the ruling document. Copyright Copyright ©2010, 2009 by University of Phoenix. All rights reserved. University of Phoenix© is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft©, Windows©, and Windows NT© are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix© editorial standards and practices. Facilitator Information Carol Ward, MBA, DBA cward123@email.phoenix.edu (University of Phoenix) ciward123@yahoo.com (Personal) (901) 270-9434 (Central Standard Time) Facilitator Availability Dr. Ward is available from 9 a.m.-9 p.m. Central Time on most days, but I attempt to reserve Sunday for my family. During the week, I am online most of the time during that 9 a.m.-9 p.m. time...
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... |FP/101 Version 4 | | |Foundations of Personal Finance | Copyright © 2011, 2010, 2009 by University of Phoenix. All rights reserved. Course Description This course provides an overview of the elements necessary for effective personal financial planning and the opportunity to apply the techniques and strategies essential to this understanding. Primary areas of study include creating and managing a personal budget, understanding and paying taxes, working with financial institutions, wise use of credit cards and consumer loans, financing automobiles and homes, and the use of insurance for protecting one’s family and property. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials ...
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...|Participant Guide: GPS Core | |Personal Financial Planning for Transition | |Preparation and Readiness | This Page Intentionally Left Blank TAPS GPS Road Map [pic] K – Capstone Service members will attend Capstone which validates and verifies that the service member is prepared to be successful following their military service by producing documentation that they meet all Career Readiness Standards. J - Entrepreneurship Track Service members pursuing self-employment in the private or non-profit sector will learn about the challenges faced by entrepreneurs, the benefits and realities of entrepreneurship, and the steps toward business ownership. I - Technical Training Track Service members pursuing further technical training will receive guidance and help in selecting schools and technical fields. H - Education Track Service members pursuing college education will receive guidance to prepare for the college application process. The Education track addresses such topics as identifying one’s educational goals, education funding, and researching and comparing institutions. G - DOL Employment Workshop Address the nine key factors that contribute to a successful employment transition...
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...FP/101 FOUNDATIONS OF PERSONAL FINANCE Start Date: 04/23/2012 Print COURSE DESCRIPTION This course provides an overview of the elements necessary for effective personal financial planning and the opportunity to apply the techniques and strategies essential to this understanding. Primary areas of study include creating and managing a personal budget, understanding and paying taxes, working with financial institutions, wise use of credit cards and consumer loans, financing automobiles and homes, and the use of insurance for protecting one’s family and property. WEEK 1 - TOPIC 1: PERSONAL FINANCIAL PLANNING Objectives List the five steps in the personal financial planning process. Summarize what influences personal financial planning. Identify parts of a financial plan. Materials READING: Read Ch. 1 of Personal finance - Personal Financial Planning in Action: Developing a Personal Financial Plan. SUPPLEMENT: Appendix A: How to Install Quick Time Movie Player SUPPLEMENT: Appendix B: Personal Financial Planning Worksheet WEB LINK: Decision to Own a Home vs. Rent Video SUPPLEMENT: Video Transcript - Decision to Own a Home vs. Rent Assessment Please see instructor's syllabus for details on assignments. Participation/Discussion Questions WEEK 2 - TOPIC 1: MONEY MANAGEMENT Objectives Describe how to organize and prepare personal financial statements. Identify cash management products and services. Complete a personal cash flow statement. Materials ...
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...QUESTIONS FOR THE ‘HILL COUNTY SNACK CO’ CASE STUDY (TO BE ANSWERED IN THE STUDENT GROUP REPORTS) In your group report, you should attempt to answer the following questions. For each question, a few paragraphs or sentences should be enough; I should stress that I am more interested in understanding the quantitative analysis or reasoning that led you to your answer in the report, than in the numerical accuracy of the answer (not that the latter is not important at all!). It is recommended that you upload to moodle any files that might facilitate me in understanding your answers (e.g. excel worksheets with computations of intermediate steps, etc.) Questions 1. How much business risk does Hill County face? How much financial risk would the company face at each of the three alternative debt-to-capital ratios presented in Exhibit 4? How much value could Hill County create for its shareholders at each of the three alternative debt levels? 2. What debt-to-capital structure would you recommend as optimal for Hill County? What are the advantages of adding debt to the capital structure? How would issuing debt impact the company’s taxes and expected costs of financial distress? How would the financial markets react if the company increased its financial leverage? 3. How could Hill County implement a more aggressive capital structure? What methods could be used to increase debt and decrease equity? 4. Considering Hill County’s corporate culture, what arguments could you use to persuade CEO...
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...It's not always easy to meet our financial obligations each month, and that's where creating a family budget can help. Nearly every day, we have multiple financial demands placed upon us. Whether it is grocery shopping or paying the monthly electric bill, we're faced with family budget decisions all the time. Family Budgeting It's sometimes difficult to deal with financial planning matters such as family budgeting. There is one more bill to pay, or a big decision needs to be made on an expensive family vacation. But no matter how people might try to deny it, this is a hard rule of life: We make decisions all the time that affect our ability to stay out of debt. Additional Resources Household Budget Basics Budget Worksheet Budget Worksheet Part II Family Budget Basics Saving Money Surviving a Recession Staying Out of Debt Financial Planning After a Death Family budgeting is all about choosing between the options available to us, including those that help us to stay out of debt. One of those important options we have includes creating a family budget that meets our individual needs. Unfortunately, for many of us, budgets are a reality check that we try to avoid. For example, our family budget might tell us that we make enough money each month to pay that electric bill, but we need to give up going out to eat twice a week, or eliminate a habit of buying such expensive clothing. These are the types of decisions we are talking about. Creating a Family...
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...CHAPTER TWO Supply Chain Management Chapter 2 Supply-Chain Management PROBLEMS 1. Buzzrite Company a. Current Year’s average aggregate value = $48,000,000/6 = $8,000,000 Next year’s average aggregate inventory value = ($48,000,000 × 1.25)/6 = $10,000,000 Increase in the average aggregate inventory value = ($10,000,000 – 8,000,000) = $2,000,000 b. Number of turns to support next year’s sales with no increase in inventory value = (1.25)(6) = 7.5 turns. Thus, the change in inventory turnover = new – old = 1.5 inventory turns, or 25% higher inventory turns. 2. Precision Enterprises. Average aggregate inventory value = Raw materials + WIP + Finished goods = $3,129,500 + $6,237,000 + $2,686,500 = $12,053,000 a. Sales per week Weeks of supply b. Inventory turnover 14 = Cost of goods sold/52 weeks per year = $32,500,000/52 = $625,000 = Average aggregate inventory value/ Weekly sales = $12,053,000/$625,000 = 19.28 wk = (Annual sales)/(Average aggregate inventory value) = $32,500,000/$12,053,000 = 2.6964 turns/year CHAPTER TWO Supply Chain Management 3. Sterling Inc. a. Average Inventory (units) Part Number RM-1 RM-2 Value ($/unit) 20,000 5,000 RM-3 RM-4 WIP-1 WIP-2 FG-1 FG-2 1.00 5.00 3,000 1,000 6,000 8,000 1,000 500 44,500 Total Value ($) 20,000 25,000 6.00 8.00 10.00 12.00 65.00 88.00 18,000 8,000 60,000 96,000 65,000 44,000 336,000 Average aggregate inventory...
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...UNIT 1 Answer Key CHAPTER 1 CHAPTER 1 Section 1 Prereading and Vocabulary 2 Reading Comprehension 3 1. 2. 3. 4. 5. 6. oligarchy citizen democracy constitution state two basic levels; certain decisions; only the federal government; each of the states Federalism is a system of government in which power is divided between a central government and several regional, or state, governments. 1. Population; the people who live within the boundaries of the state 2. Territory; land with known and recognized boundaries 3. Sovereignty; the supreme and absolute power within a state’s territory to decide its own foreign and domestic policies 4. Government; the institution through which society makes and enforces public policies 5. Force theory; the state was born of force, when one person or a small group gained control over people in an area and forced them to submit to that person’s or group’s rule. 6. Evolutionary theory; the state evolved from early families that united to form clans. Later, clans united to form tribes. As tribes settled into agricultural groups over time, they formed states. 7. Divine right theory; God created the state and gave a chosen few the right to rule. 8. Social contract theory; people voluntarily agreed to create a state and give to the government just enough power to promote the safety and well-being of all. Government exists to serve the will of the people, and the people are the sole source of political...
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...register every location that their business resides in h. Does a General Partnership have to file anything with the Secretary of State? No. 2. BUSINESS LICENSES AND TAX REGISTRATION For this portion- I chose to run an S CORP for my liquor store which sells tobacco, wine, and liquor. My three employees are my cashier, stocker, and manager. a. In Charleston, all businesses are required to have an annual business license for each location. There is a five step process for obtaining this business license. First- Zoning Compliance. The city encourages every business to confirm the zone and physical layout of the building they buy, lease, or commit to. Second- Renovations might require permits so make sure you have an understanding in which projects will require permits. The City’s Building Inspections Department will confirm if one is needed. Third- Business License Certificate of Occupancy Application. You must apply for this business license to be an...
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...CONTENTS General Instructions Section A Section B Section C Section D Section E Organization, Accounting Practices, Markets and Merchandise Sales in the Home Market or to a Third Country Sales to the United States Cost of Production and Constructed Value Cost of Further Manufacture or Assembly Performed in the United States Appendix I Appendix II Glossary of Terms Instructions for Submitting Computer Databases and Spreadsheets Appendix III Description of Products Under Review Appendix IV Certifications of Factual Accuracy and Certificate of Service Appendix V Case-Specific Questions and Modifications, Including Matching Criteria Appendix VI Arms-Length Sales to Affiliated Parties Appendix VII Sales Database Summaries GENERAL INSTRUCTIONS Note: The latest antidumping questionnaires, antidumping procedures manual, which provides guidance useful for calculating much of the information requested below, and relevant laws and regulations can be found at the following links: Antidumping Questionnaires http://ia.ita.doc.gov/questionnaires/questionnaires-ad.html Antidumping Procedures Manual http://ia.ita.doc.gov/admanual/index.html Laws and Regulations http://ia.ita.doc.gov/regs/index.html This questionnaire requests information to enable the United States Department of Commerce (the "Department") to determine whether your company dumped the subject merchandise in the United States. 1 Dumping is the sale of merchandise to the United States at prices below the normal...
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...U.S. Small Business Administration MP-32 HOW TO WRITE A BUSINESS PLAN Managing and Planning Series ______________________________________________________________________________ Copyright 1993, Linda Pinson and Jerry Jinnett. All rights reserved. No part may be reproduced, transmitted or transcribed without the permission of the authors. SBA retains an irrevocable, worldwide, nonexclusive, royalty-free, unlimited license to use this copyrighted material. While we consider the contents of this publication to be of general merit, its sponsorship by the U.S. Small Business Administration does not necessarily constitute an endorsement of the views and opinions of the authors or the products and services of the companies with which they are affiliated. All of SBA's programs and services are extended to the public on a nondiscriminatory basis. ______________________________________________________________________________ TABLE OF CONTENTS INTRODUCTION 1 COVER SHEET 1 STATEMENT OF PURPOSE (MISSION STATEMENT) THE BUSINESS Legal Structure 2 Description of the Business 2 Products or Services 3 Location 3 Management 3 Personnel 3 Methods of Record Keeping 3 Insurance 4 Security 4 Summary 5 MARKETING Target Market 5 Competition 5 2 Methods of Distribution 5 Advertising 7 Pricing 7 Product Design 7 Timing of Market Entry Location 8 Industry Trends 8 7 FINANCIAL DOCUMENTS Summary of Financial Needs 8 Sources and Uses of Funds Statement Cash Flow Statement (Budget) 9 Three-year...
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...Economic impact approaches Page #1 Approaches to Estimating the Economic Impacts of Tourism; Some Examples Daniel J. Stynes Updated January 1999 Introduction The purpose of this bulletin is to present examples of different approaches to estimating the economic impacts of tourism. In a previous bulletin (Stynes 1997), I summarize economic impact concepts and methods as they apply to tourism. Here we apply the methods to illustrative cases in order to demonstrate some practical approaches. Three specific examples are presented. These represent a range of alternatives for estimating the economic impacts of visitor spending. The techniques covered range from methods based largely on judgement, to methods that utilize secondary spending data and published multipliers, to the use of visitor surveys and input-output models. A third bulletin in this series discusses survey methods for measuring visitor spending and includes sample spending instruments. While the construction and operation of tourist facilities also has economic impacts, we will restrict our attention here to the impacts of visitor spending. Review of Basic Approach and Levels of Analysis The economic impact of visitor spending is typically estimated by some variation of the following simple equation: Economic Impact of Tourist Spending = Number of Tourists * Average Spending per Visitor * Multiplier This equation suggests three distinct steps and corresponding measurements or models: (1) Estimate the change...
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...comes from the ancient Greek word oikonomikos, meaning “the management of a household.” E conomics is the name of the social science 337 Enrich Your Vocabulary In reading this chapter and doing the exercises, you will learn the following important terms: comparative advantage competition consumer demand economics economic system Federal Reserve System free enterprise system gross domestic product industrial products limited resources market opportunity cost profit scarcity services supply technology Vocabulary You can use the “Developing Your Vocabulary” worksheet in the Chapter 15 file of the Preparing for Career Success Instructor’s CDROM, Third Edition as a pretest or as a reteaching worksheet. Cooperative Learning Assign a group of students to decorate a bulletin board with the title “Economics and Work.” KEY TO SUCCESS Understanding our economic system is an important part of understanding the world of work and planning for career success. Video Tour on DVD Show students the Chapter 15 segment to introduce them to the content. Vocabulary Builder After your students have completed the introduction, have them close their books. Ask several students to use their own words to...
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...the investment that minimizes the total amount of taxes paid. Answer: FALSE Diff: 2 Topic: Minimization of Taxes AACSB: 3. Analytical skills 3) Being financially secure involves balancing what you earn with A) your investments. B) what you spend. C) your retirement plans. D) your current level of debt. Answer: B Diff: 1 Topic: Financial Planning AACSB: 3. Analytical skills 4) In order for your financial plan to be realistic and attainable it needs to be based upon your A) budget. B) income level. C) number of tax deductions, exemption, exclusions, and credits. D) balance sheet. E) none of the above Answer: B Diff: 2 Topic: Financial Planning AACSB: 3. Analytical skills 5) Personal financial planning can help you to A) deal with unplanned health issues. B) minimize your tax payments to Uncle Sam. C) minimize your chances of personal bankruptcy. D) have enough money for a comfortable retirement. E) all of the above. Answer: E Diff: 2 Topic: Financial Planning AACSB: 3. Analytical skills 6) What are common factors found in an effective financial plan? A) Effective financial plans should be flexible to allow for changes in your situation B) Effective financial plans should provide sufficient liquidity to meet unexpected needs C) Effective financial plans should provide insurance protection from catastrophic events D) Effective financial plans should help you minimize paying taxes E) All of the above are...
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