recent court case clearly has established that the interest paid to the ex-spouse is taxable to her, even though the principal on the note is exempt from tax as a transfer incident to divorce (Gibbs, TC Memo 1997-196). So if the recipient has to pay tax on the interest, the paying spouse should receive a corresponding deduction on his income tax return, right? Not necessarily. Until recently, the IRS has ruled that divorce-related interest is non-deductible personal interest, and has disallowed any
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Amazon Japan Amazon corporation have been placed in seven countries, Canada, China, France, Germany, Italy, Japan Spain, and Unites Kingdom where shipments are covered by more than 200 countries. In recent years international market has grown rapidly. Sales in the international market have reached 45% of the total sales in United States in Japanese account for 10% of the total sales. Why are Japanese consumer chose Amazon rather than other e-commerce company? Amazon provides customers
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Issues: Whether the provision made for retirement benefits that had been taken into account in the sale of the appellant’s printing and dyeing mill was allowable or not allowable (capital expenditure or revenue expenditure) under s33(1) of the Income Tax Act 1967. The Facts: In Malayan Weaving Mills Sdn Bhd vs Director General of Inland Revenue [(2000) MSTC 3778], the taxpayer owned and operated three types of mills, namely, a spinning mill, two weaving mills and a dyeing and printing mill. The
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1.0What Is Public Debt? Public debt is also sometimes referred to as government debt. It is a term for all of the money owed at any given time by any branch of the government. It encompasses public debt owed by the federal government, the state government, and even the municipal and local government. Public debt accrues over time when the government spends more money than it collects in taxation. As government engage in more deficit spending, the amount of public debt increases. Public debt
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graph. (4 marks) At equilibrium, Y Y 0.7Y Y = = = = AE 0.3Y + 13,900 13,900 19,857 c) Calculate the multipliers in this economy? Please show your working clearly. (3 marks) There are 3 possible multipliers in this economy namely government, tax and balanced budget multipliers. G multiplier = = = = T multiplier = = = 1 / MPS = 1 / (1 – MPC) 1 / (1 – 0.3) 1 / 0.7 1.43 - MPC / MPS - 0.3 / 0.7 -0.43 = 1 Balanced budget multiplier d) Discuss the effect of an increase in autonomous Investment
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I. Introduction The purpose of this report is to explain what I did and learned during my internship period with T and T Holdings Limited. This report is also a requirement for the partial fulfillment of University of Eastern Africa Baraton degree program. The report primarily focuses on the assignments handled, working environment, successes and short comings that the intern did encounter when handling various tasks assigned by supervisor. It is also imperative that recommendations and suggestions
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Four Sector Economy Model What is GDP? : The gross domestic product (GDP) or gross domestic income (GDI) is a measure of a country's overall economic output. It is the market value of all final goods and services made within the borders of a country in a year. It is often positively correlated with the standard of living, though its use as a stand-in for measuring the standard of living has come under increasing criticism and many countries are actively exploring alternative measures to GDP for
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level of borrowing. Also, they made unrestrained expenses, provided cheap lending, were unable to recover taxes from its citizens & overspent on state pension plans. The main factor for the crisis is the high number of residents who purposely avoid tax, particularly the wealthy, starving the government of the cash that it needs to provide a sufficient level of public service. Another notable factor is the Greek tendency to be a little over generous with the state pension provisions to the elderly
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Natioinal Debt 1. What is the debt? How much is it? Examples The national debt has grown significantly in recent years due to rising annual deficits. A deficit occurs in any year the government spends more money than it takes in. Borrowing to make up the difference is added to the national debt -- technically referred to as the gross federal debt. The gross debt has two components: 1) Debt held by the public -- money the government borrows on the open market from domestic or foreign investors;
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Ch. 1 We Have a global economy. Econimics-the study of scarce ersources(limited). Nobody can have everything they want. We make up the economy, always wanting more. Factors of Producion-Land, Labor, Capital, Entrepreneurship. Land-all the natural resources. Labor-skills and abilities (workers too). Capital-What we use making it the final product. Entrepreneurship-A risk taker. He brings the other three factors together in innovative ways. Opportunity Cost-The best alternative, foregoing something
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