business by one or more of the activities of: Receiving deposits, making personal loan to the public, purchasing, selling for the public checks, bills etc. and issuing letters of credit to the public. d. Management of real property- The ownership and rental of real property does not create a business. If the foreign person has a management that managed on his behalf, it doesn’t not considered to be a business if its not regular, continuous (day to day) and considerable (opposite than
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include in their return income tax are the cost of rent and renovation/remodeling. Under IRC Sec. 61(a)(5) gross income derived from any type of sources and one of them is received rent or accrued for the occupancy of real estate or the use of personal property. However, IRC Sec. 280 A(g) states, “If a dwelling unit is used during the taxable year by the taxpayer as a residence and such dwelling unit is actually rented for less than 15 days during the taxpayer year, then the income derived from such use
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Week 5: The Award Phase - You Decide Catering Business Negotiation/Dissolution PROJ-598: Contracts and Procurement – May 2013 06/08/2013 1. How you will split the $15,000 left in the investment? The decision on how to split the investment lies in the initial agreement between Pat and Chris Smith (owners) and the chefs (J. P. Martin and L. L. Miller). According to the original arrangement, they all agreed on the initial start up investment of $45,000. The accepted arrangement was outlined
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A New House - Economy James Sathre University of Phoenix XECO/212 Anna Gonzalez, Ph.D. September, 3 2013 Buying a house is a large financial decision. Taking on that kind of debt can be a large burden or it could be a blessing. When you buy a house you trade a payment for stability and ownership or,you over spend. Your decision has to based on what you can afford and what the economy is doing around you. When my wife and I bought our house 4 years ago we were able to deduct the interest
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Article Review Richard Holt LAW/421 August 26, 2013 C.J. Hughes . The article focused on patents in e-business and intellectual property. Patents are important when running an e-business. This is so because it is on an open market and the competition may be from any location. E-business should be aware that patents might not automatically cover new invention. Before opening an e-business potential owners should research e-business patent laws (Mello, 2002). They should be aware
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Issue: Is the lump sum income or a capital receipt? If the lump sum is a receipt for the disposal of a capital asset s. 6-5 of the ITAA should not apply as it is not ordinary income. The lump sum will be income under s. 6-5 if the disposal of the property can be viewed as occurring in the ordinary course of the taxpayer’s business or income earning activities. To determine whether the proceeds are income, as distinct from a capital receipt, regard should be had to all of the facts of the particular
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Week 2 Joshua Wolfe 1. There are several issues that could be involved when resolving legal disputes in international business. The first one is who you are dealing with in the nation that you are doing business with. Not all countries are stable in leadership like the United States. Changes in other parts of the world happen rapidly and without notice. Even though you may have an agreement in place with that countries current laws after a change in leadership those laws may
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Learning Team Weekly Reflection Eric Gibbs, Maximino Valdez, Aisha Savage, John Palmer Law/421 Monday, February 03, 2014 Terry Coniglio Learning Team Weekly Reflection Black’s Law Dictionary defines a copyright as “the right of literary property as recognized and sanctioned by positive law.” Melvin (2011). The development of the web and other internet technologies will continue to increase the number of copyright issues. The copyright act was developed in 1976 and it grants exclusive rights
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(b) Mrs. Ngan Property Tax Computation Year of Assessment 2012/13 $ Rental Income (18000*9) 162000 Less: rates paid (2200*2*9/12) (6600) 155400 Less: Statutory deduction (155400*20%) (31080) 124320 Property tax payable @ 15%
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of the items that I need to complete for my project, my business is a real estate and the systems I use are very friendly user however I need someone that can work fast pace, the tasks are as follows" 1. Website maintenance 2. Input listings/properties onto the MLS system with full description you must have good grammar skills 3. Promote my website on google and promote all of our listings in all social media FB,Tweeter, Linkden, zillow trulia, instagram, realtor.com, yahoo, craiglist, eBay,
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