stores are slowly starting to degrade, thus alarming the government on the collection of lesser tax since the law regarding electronic commerce taxation is still being debated. This income generating phenomenon has been an attractive target to the government to cope with its huge loss on tax collection. So why pay tax? Richard Carlson (2002) once said, “At tax time, it helps to remember that if your tax obligation has increased from the previous year, it’s usually because you’re enjoying more income
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Client File memorandum to: File from: Re: HOLLY MARTIN, Tax year 2013 FACTS Our client, Holly Martin, is a developer who acquired a parcel of unimproved real property that she would like to develop. Although the land is currently zoned for commercial use, the developer would prefer not to begin development until an adjoining street is widened. With a wider street, her development can include a landscaped public entrance and lighting. Without the widening, the development will have only
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create a “flat tax, “reduce,” or “re-classify” are all key terms to look out for. The truth is, the reforms these people talk about, I’m 90% sure, won’t happen. SO WHY DO THEY PROMISE IT!? Here’s why … I HATE TAXES! The natural thing for a politician to assume is that people hate taxes (the next logical thing to assume is social stances of your constituents, which you would derive from a variety of methods). From this base assumption, it’s no wonder politicians emphasize tax overhaul in speeches
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Estate and Gift Tax Outline Repetti Fall 2013 Boston College Law School Casebook: Federal Wealth Transfer Taxation, 6th Edition Table of Contents Filing Returns 3 Gift Tax: 3 Estate Tax: 3 Generation-Skipping Tax: 3 Statutes of Limitations, Interest, Penalties: 3 Computation of the Estate and Gift Tax 3 General Description of Gift Tax: 4 General Description of the Estate Tax: 4 Role of State Law 4 Scope of the Estate Tax 5 Beneficial Ownership and § 2033: 5 Interests Arising
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1. Discuss the different types of interests and the IRS rule related to the deductibility of each type for tax purposes. In the case in which we studying here in regards to the divorce of Marla and David they have a plan in place the does seem that over the next years will be beneficial to both parties. The different types of interest that would apply to this particular would be personal interest and investment interest. Personal interest is a deductible interest that would be considered as
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their money to purchase steak, lobster and many other expensive food items someone working a 9-5 job can never afford. It is believed by many that it is not fair to the tax payer to provide financial assistance to a recipient that will use that assistance to purchase drugs. Especially when those providing the assistance, i.e. the hard working tax payer, must, in most cases, undergo a drug test in order to continue to work at their place of employment. Many proponents to drug testing see it as an incentive
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constitutes an excludable gift. 2. The receipt of the stock is a gift, the value of which is excluded from Zane's income. However, the exclusion applies only to the receipt of the gift; any subsequent earnings on the gift property are subject to tax. Thus, Zane must include the $50 dividend in his taxable income. If the dividend had already been declared when Bob made the gift, Bob would have been taxed on the dividend under the assignment of income doctrine. Under such circumstances, the cash
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Establish the payroll system Submission details Candidate’s name | | Phone no. | | Assessor’s name | | Phone no. | | Assessment site | | Assessment date/s | | Time/s | | The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence attached. See specifications below for details. Performance objective The candidate will demonstrate the ability to
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Service sector in China * Structures, restrictions and recommendations University: Shanghai University – School of Economics Course: Service economics and Trade Tutor: Professor Dong Yinguo Author: Hake Feka Student ID: 13D62241 Abstract The result of the market-oriented reforms in China along with its opening up to the outside world were rapid industrialization and integration in international trade. The service sector has perceived a fast, continued development and has made huge
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Memorandom To: Tax Manager From: Sarah Garlick Date: 11/9/11 Re: Mr. and Mrs. John Smith – Morgan Horse Facts: The Smiths’ Adjusted Gross Income is $170,000 and taxable income is $140,000. They have an opportunity to deduct more from their taxable income. The Smiths purchased the Morgan Horse for $10,000 six years ago for their daughter to ride, and they spent an extra $4000 to train the horse. The Smiths are looking to donate the horse to the local police unit. The estimated fair market value
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