This video was very interesting, but it felt like an infomercial as Robin Case was trying to sell her idea. That’s besides the fact, though as her idea was actually eye opening. Her idea of implementing a tax on congestion pricing and road pricing seemed rather insane to me. I understand that by implementing these, the societal impact would be reduced emissions and less driving because the cost would rise. I don’t believe that this will be implemented, I know she stated its coming in the near future
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What to do when you miss the late tax filing deadline? People have to go through late tax filing due to many reasons and then they get into trouble. There are many reasons why this happens are some are we forget about it, or we were confused about what to do. We took advice from the wrong person or the IRS did not reply to our email. You might have to pay a lot of money and you thought you cannot pay them all together so waited to file. Do not worry if you have done that. Unluckily, this is an
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From her college thesis about Saul Alinsky, who she obviously admired and had a letter writing “affair” with, Hillary and Bill Clinton tried to keep sealed many scandals. Some include White Water, the bimbo eruption to the recent Benghazi, and email server scandals. They continually surround her and her ex-President husband like no other politicians in recent memory. The cattle future scandal, or should we call it “Cattlegate”, was one of the first “ethical dilemma” problems of the early Bill and
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that the Roth IRA permits you to pull back your cash without taxing the length of the record that has been open for no less than five years. You can pull back the cash whenever and there are different conditions that permit you to pull back the cash, tax free in the even that you don’t meet those criteria’s. Another advantage of investing in a 401k retirement plan is the fact that you can still invest into other plans as well. You are not limited to the funds that you obtain through only one form of
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The Social Security system has undoubtedly become pivotal to American’s standards for living over the past 80 years. Some experts have even suggested that the Social Security program is “the most successful government social insurance program in the nation’s history” (DeWitt, 2010). As of 2010, “the Social Security program has paid out more than $11 trillion to almost 213 million people” (DeWitt, 2010). Because of this, it is necessary for American’s to be concerned with both the Social Security
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America thrives off the implementation of individualism and succeeds from the idea of the free market and the outcomes it generates for the country and its economy. Trump is one of the wealthiest and most successful business entrepreneurs, and now future President of this country. For his presidential policies to be in line with what Americas economic vision for success is and how he got to where he is, he must implement these four things into his presidency. One policy recommendation that would
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Bob is a client that has a piece of land that has a fair market value of 9,000,000 that he bought in 1966 for 450,000. In order to explain to Bob about his tax consequences, we should calculate the property disposition capital gain. According to the IRS Publication 434, capital gains is explained as: Capital Gains Basis, adjusted basis, amount realized, fair market value, and amount recognized are defined next. You need to know these definitions to figure your gain or loss. Basis. The cost or
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Internal Revenue Service has faced a significant cut in funds. This has caused a decrease in staff for the IRS and obviously a decrease ins services provided. Thus these budget cuts have greatly decreased the effectiveness of the IRS and how much tax revenue they collect for the federal government. The IRS has faced significant cuts since 2010. Currently for 2016 the IRS has been appropriated $11.2 billion. This is down from 2010 where the IRS was appropriated $13.6 billion, a 17% cut, inflation
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Chapter 8 Business Income, Deductions, and Accounting Methods SOLUTIONS MANUAL Discussion Questions 1. [LO 1] What is an “ordinary and necessary” business expenditure? “Ordinary” and “necessary” imply that an expense must be customary and helpful, respectively. Because these terms are subjective, the tests are ambiguous. However, ordinary is interpreted by the courts as including expenses which may be unusual for a specific taxpayer (but not for that type of business) and necessary
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marital obligation is a taxable event. The amount realized in the transaction should be equal to the market value of the property at the time of transfer. LEGAL ANALYSIS: Both the Tax Court and the Court of Appeals for the Sixth Circuit stated that the appreciated property transferred to fulfill the divorce settlement had no tax effect on the transferor because the market value of marital rights which were the amount realized by husband is indeterminable. However, the Courts of Appeals of the Second and
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