Tax Essay Examples

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Flat Tax Essay

2359 words - 10 pages C E R -A S A 2 0 12 -A d va AL CO N F E RE N Advanced Research in Scientific Areas 2012 December, 3. - 7. 2012 nc e d R e s e a rc h IR TU in Abstract— Taxes are a substantial means of providing the financial resources of a country. After the fall of communism, many countries applied the system of progressive income tax, which was earlier applied in Western Europe. But it soon turned out to be a system that discouraged economic growth. Therefore, some of these countries since 1994 have established the system of flat tax. Flat tax implies the application of a single-level tax system. Flat tax is applied in consideration of the supposition that all income VIEW DOCUMENT
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Tax Accounting Essay

677 words - 3 pages Corporation Generally, corporations in the Philippines are required to pay income tax of 32 percent of taxable income from sources both within and outside of the Philippines. However, the president may, with the recommendation of the secretary of finance, give corporations the option to pay a tax of 15 percent on gross income. Corporations that choose this option may not switch back for three years. B. Resident (Foreign) Corporation   A resident foreign corporation is one organized, authorized, or existing under the laws of any foreign country, engaged in trade or business within the Philippines. C. Non-Resident Corporation The term applies to a foreign corporation not engaged in VIEW DOCUMENT
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Tax Introduction Essay

3218 words - 13 pages CHAPTER 1 – TAXES AND TAXING JURISDICTION  Taxes are pervasive because they: o Are so widespread. o Come in so many varieties, and o Affect virtually every area of modern life.  Taxes are dynamic because tax law changes so freque ntly. o Rate of change reflects fact that economic and poli tical assumptions on which tax structures are based are constantly ev olving.  Tax – Payment to support the cost of government. o Differs from fine or penalty because tax is not int ended to deter or punish unacceptable behavior. o Taxes, on the other hand are compulsory rather than voluntary on part of the payer. o Differs from user’s fee because VIEW DOCUMENT
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Tax Avoidance Essay

4175 words - 17 pages IoD Big Picture Summer 2013 Tax avoidance: remedies and collateral damage SNAPSHOT • The term ‘tax avoidance’ needs to be carefully defined and is not the same as ‘tax abuse’ or ‘tax evasion’. This article considers where avoidance becomes abuse and, in particular, the advantages and disadvantages of some measures to control it. Tax avoidance: remedies and collateral damage Richard Baron, former Head of Taxation at the IoD, and Stephen Herring, his successor, consider the proper use of the term ‘tax avoidance’, where avoidance becomes abuse, and the pros and cons of some measures to control it. • The basics of UK tax law are simple, but difficulties arise from complex VIEW DOCUMENT
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Tax Effect Essay

375 words - 2 pages intersection is called the equilibrium level of supply and demand, and it shows the quantity producers of goods are willing to provide at the price buyers are willing to pay. An imposition of tax means charging duty on goods for example milk or fuel. When the price is added it has the effect of gearing the supply curve up by the tax charged. Therefore, an imposition in tax effects to an increase in income tax (Green, 2008). According to TR Jain (2008), a price effect arises when an increase in the prices of a commodity leads to increase in revenue. The increase in price tends not to affect the quantity of goods with inelastic demand consumers’ purchase. Consumers will consume the same VIEW DOCUMENT
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Tax Evasion In Bangladesh Essay

5263 words - 22 pages “TAX EVASION & AVOIDANCE - A REAL PROBLEM FOR BANGLADESH” INTRODUCTION: Tax evasion and avoidance are both phenomena that are probably as old as taxation itself. Wherever and whenever authorities decide to levy taxes, individuals and firms try to avoid paying them. Though this problem has always been present, it becomes more pressing in the course of globalization as this process extends the range of opportunities to dodge taxation while simultaneously reducing the risk of being detected. Developing and emerging countries like Bangladesh are particularly vulnerable to tax evasion and avoidance activities of individual taxpayers and corporations. While tax revenues in OECD-countries VIEW DOCUMENT
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Tax Research And Bibliography Essay

2023 words - 9 pages Tax Research and Bibliography University Instructor: Introduction This paper addresses three aspects of corporate tax research and its associated bibliographies to clarify the subject matter, thus providing credence to the work and its authors. Three subject have been explored; first examined was ‘equal opportunity and disabled workers’, next was the deductibility of tuition, and finally, the matters of ‘tax court and TEFRA’ were looked at and provided a nice grouping of responses over ten years. Research Results Subject 1: Equal opportunity and disabled workers, returned one result in ten years. Lytes v. DC water & sewer auth. No. 08-7002 936 (UNITED VIEW DOCUMENT
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Tax You Decide 6 Essay

1275 words - 6 pages TO: Mr. Jones, Client FROM: Tax Professional DATE: June 12, 2011 SUBJECT: Tax Advice Several organization options were presented. Each option is presented below with the most optimal course of action, from a tax perspective. Each option has various tax benefits and drawbacks. The options will be evaluated independently. The option of outright purchase of Smithon will be evaluated first, followed by the options of merging or acquiring Smithon. 1a.) Should Mr. Jones purchase the stock of Smith outright, leaving Smithon intact? What about issuing debt in his Johnson Services company to pay for the Smith company – would that raise debt to equity issues? Purchasing the stock VIEW DOCUMENT
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Suzzanne Gross Tax Memo Essay

855 words - 4 pages Tax Memo Suzzanne Gross Summary of Facts Suzzanne Gross was former Chief Operations Officer of a mid-sized engineering firm called Anebako. She was also an investor in several projects that the firm undertook. Suzzanne supervised up to twelve engineers at the firm. A co-worker accused Suzzanne of sexual harassment. The company interviewed the initial accuser and decided to investigate the matter further. All of Suzzanne’s reporting engineers were then interviewed. Suzzanne eventually resigned, hired an attorney, and accused the company of age discrimination and defamation. In the State of Minnesota both suits are considered State civil claims. No court case was filed after a VIEW DOCUMENT
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Irish-Dutch Sandwich - Tax Planning Essay

1731 words - 7 pages 1. What features of the interaction between the US, Irish, Dutch and Caribbean tax systems facilitate MNC’s in minimising their global tax bills? In order to minimise their global tax bills, MNC’s engage in a tax avoidance technique known as the ‘Double Irish with a Dutch Sandwich technique’. It is a technique employed by certain large corporations, involving the use of a combination of Irish and Dutch subsidiary companies to shift profits to low or no tax jurisdictions. In this essay I am going to explore this tax avoidance technique and give a step-by-step guide as to how large MNC’s such as Google use it. First I am going to give an overview of this tax avoidance technique and why VIEW DOCUMENT
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Reforming The U.S. Tax Code

1361 words - 6 pages Reforming the U.S. Tax Code Martin McDowell Professor Ken Lavery 11/24/13 Reforming the U.S. Tax Code A flat tax rate would be beneficial to all Americans. Critics of such proposals generally say that the wealthiest people in the nation would be the ones to benefit the most. The overall flat rate of tax would mean cuts for all Americans. The sheer simplicity of a flat rate is one of its biggest selling points. Rick Perry's plan offered in 2011 was imperfect, but it represented a overall structure and ideas. The focus of the plan scrapped, “the graduated income tax and replace it with a 20 percent flat rate. By throwing out VIEW DOCUMENT
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Tax Deducted At Source - 2012-13

1684 words - 7 pages Tax Deducted at Source (TDS) ABSTRACT TDS is effected at the source when income arises. This type of tax is deducted by the employer or the payer of the income, and is deposited in the Central Government. TDS is calculated under 5 provisions: 1. TDS on salary 2. TDS on Rent 3. TDS on payments to contractors 4. TDS on commission & Brokerage 5. TDS on fees for professional & technical services It also has various subsections explaining the procedure, applicability and collection of TDS. It is a very relevant tax in terms of its share in total tax revenue being collected in India. It is complicated in nature and in calculation and hence, needs to be VIEW DOCUMENT
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Individual Income Tax Chapter 4 Research

600 words - 3 pages Chapter 4 Research I enjoyed meeting with you earlier this week to discuss your taxes. As I understand our conversation you have a question regarding the taxable portion ($50,000) of the annuity you received upon the death of your step-mother. Your father convinced you that he was actually the intended beneficiary and so you paid your father the full $400,000 that you received from the insurance company. Because you gave the full amount to your father you did not report the $50,000 taxable portion on your income tax return last year in Gross Income. It sounds like you are in the processing of suing your father to return the $400,000 to you. In the meantime, the IRS is claiming that VIEW DOCUMENT
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Corporate Tax Decisions And Strategies - Chapter 2

258 words - 2 pages Problem Assignments 38. Kevin deliberately omitted $40,000 of gross income from the restaurant that he owned from his 2012 tax return. The return indicates gross income of $ 200,000 when he files it on April 14 2013. As of what date can the IRS no longer pursue Kevin with the threat of collection of the related tax, interest, and penalties? Answer: There is no statute of limitation. The IRS can pursue Kevin with additional taxes, interest, and penalties if they are able to prove fraud was committed by deliberately omitted $40,000 of gross profit. However if the IRS is unable to prove Kevin deliberately omitted $40,000 of gross income as fraud expire date would be April 15, 2016 VIEW DOCUMENT
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Tax Treatment For Private Jet Expenses

1193 words - 5 pages TAX TREATMENT OF PRIVATE JET EXPENSES Facts: Alex Jones owns a small software company, Find Donuts, Inc in Michigan. A patent on a smartphone application named Find Donuts which is designed to locate donuts shops, is the only asset of Find Donuts, Inc. With the intention of promoting the sales of the Find Donuts smartphone app and increasing company revenue, Alex Jones attended a computer conference in June 2010, in San Francisco. Alex also owns a Christmas tree farm in Oregon. Primary purpose of this farm being profit but not leisure, it qualifies as a business to be reported in Schedule C of Alex’s federal income tax return. In December 2010, Alex paid a visit to this farm to VIEW DOCUMENT
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The Impact Of Tax Revenue On Economic Growth

1418 words - 6 pages PROPOSAL INTRODUCTION 1.1 Background of the study The political, economic and social development of any country depends on the amount of revenue generated for the provision of infrastructure in that given country. However, one means of generating the amount of revenue for providing the needed infrastructure is through a well structured tax system (ogbona and ebimobewei, 2012). The vital role that taxation play in an economy cannot be overemphasized. Tax is a compulsory levy imposed by government or its agent on her citizens in order to raise revenue for the funding of economic activities. Nkoro and worlu, 2012 defined Tax as a fee charged or levied by a government on a product VIEW DOCUMENT
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Tax Research Memo

1018 words - 5 pages No matter where you are born around the world or at what time one thing will always be inevitable of your ending; you will die. In all ways of life people have come accustomed to the practice of funerals, also known as death rituals. It has become common nature all around the world that when a person dies a ceremony will be held most likely involving their closest friends, family, or neighbors. It is understood that you live and die, but what funerals provide is a peace that can come with the inescapable end. However has anyone ever really stepped back and examined why we really do these ceremonies or death rituals? If at first we can understand the origins of the traditions, we can then see VIEW DOCUMENT
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The Effects Of Sin Tax To The Buying Behavior Of Smokers In Barangay Narra, San Pedro, Laguna, Philippines

6218 words - 25 pages on its brand. The Philippine government came up with an idea of increasing the taxes imposed upon alcoholic beverages and cigarette sticks in order to minimize its harmful effects to human body. On 02 December 2012, President Benigno S. Aquino III signed into law Republic Act 10351, otherwise known as the “Sin Tax Law” which provides for additional tax on sin products such as alcohols and tobacco products. Prices of liquor and tobacco products increased from 100-200% immediately after the effectivity of the said law. It is expected that the imposition of sin tax would lessen the number of active smokers and hard drinkers in the Philippines. This paper purposively aims to identify VIEW DOCUMENT
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The Joint Committee On Taxation, “Estimates Of Federal Tax Expenditures For Fiscal Years 2012-2017,” (Jcs-1-13), February 1, 2013, Table 1

1543 words - 7 pages The Patient Protection and Affordable Care Act was passed into law in 2010 and implemented in 2014. The goal of the bill was to create affordable health insurance policies so most individuals throughout the United States are covered by a health insurer. If an individual does not comply and purchase a mandated health insurance policy, he or she is subject to a penalty tax. This tax is the greater of a flat tax of up to $695.00 for each individual or 2.5% of the household income. This expansion of federal taxation is unprecedented and dangerous. The policy is fundamentally instructing the taxpayers how, where and when to spend their money. Once the Supreme Court upheld the ruling that VIEW DOCUMENT
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Dvd E E

1251 words - 6 pages Chapter 16 Problem 16–1 Requirement 1 Related Asset – Cumulative Balance (not required) ($ in thousands) Collections Service Revenue Service previous current Receivable Revenue year year Balance 2012 $30 2013 $750 30 740 10 2014 715 10 690 25 2015 700 25 695 5 Problem 16–1 (continued) ($ in thousands) Current Future Year Taxable 2013 Amount Pretax accounting income 250 Temporary difference: 2012 services (30) 30 2013 services (10) 10 Taxable income (income tax return) 270 Enacted tax rate 40% 40% Tax payable currently 108 Deferred tax liability 4 VIEW DOCUMENT
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A Pdf

463 words - 2 pages FUNDAMENTALS OF ACCOUNTING FOR INCOME TAXES Pretax financial income For financial reporting according to GAAP Providing information to investors and creditor Used to compute the Income Tax Expense Taxable income According to Internal Revenue Code Used to compute the Income Tax Payable Income tax expense and income taxes payable differed over years, but the they are equal in total Temporary difference: the difference between the tax basis of an asset of liability and its reported (book) amount in the financial statements, which will result in taxable amounts or deductible amounts in future years. Taxable amounts: increase taxable income in future years Deductible amounts: decrease VIEW DOCUMENT
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Analysis Of Taxation

3283 words - 14 pages CONTENTS TOPIC SINGAPORE PAGE NO 1. BASIC PRINCIPLES OF TAXATION IN SINGAPORE 3-4 2. UNDERSTANDING THE SINGAPORE TAX SYSTEM 4-6 3. TAX RATES 6 4. TAX ADMINISTRATION AND COMPLIANCE 7 NEWZEALAND 5. TAXATION IN NEWZEALAND 7-8 6. INCOME SUBJECT TO TAX 8-9 7. TAX RATES 9-11 8. TAX ADMINISTRATION AND COMPLIANCE 11 1.   BASIC PRINCIPLES OF TAXATION IN SINGAPORE The scope of taxation in Singapore 1. Income tax is charged on income from an employment exercised in Singapore and on any income accrued in or derived from Singapore, regardless of the tax residency of the individual. The taxability of VIEW DOCUMENT
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Blaa

934 words - 4 pages 9.9 Tax Investigation Framework What is Tax Investigation Tax investigation is an inspection of taxpayer's business and / or individual books, records and documents. This inspection is to ensure the right amount of reported income and paid taxes required under laws and tax provisions. The investigation will be carried out only in cases where is suspected on the basis of precise and clear evidence that the tax payer is deliberately trying to avoid paying taxes or having committed an act of willful deceit under the Act, such as real property gains Tax Act ITA and 1976, the Petroleum(Income Tax) Act 1967, Promotion of Investment Act 1986, the Stamp Act 1949 and the Labuan Offshore VIEW DOCUMENT
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Jurisprudence

3027 words - 13 pages TAXATION – TUTORIAL QUESTIONS QUESTION 7 Tax can only be collected when it is due. Where the tax is due, there are two principal modes of collection. These are judicial and non-judicial. The question is better with in three parts. The first part will deal with conditions under which a tax becomes due. The second part will deal with the judicial mode of tax collection. The third which is the main thrust of this question will outline the four non-judicial modes of tax collection. Under the law, the commissioner can collect tax only when the tax is due. And tax becomes due under different circumstances. For a tax payer subject to self-assessment under s. 78, the due date is VIEW DOCUMENT
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Thank You Letter

251 words - 2 pages Dear Mr., I would like to take the opportunity to thank you for giving me the opportunity to serve as a tax intern at xx.This summer's internship with your company has been a truly incredible experience, and I thank you for this excellent opportunity. My experience was extremely rewarding. I thoroughly enjoyed working with such a great team of people. It was a pleasure to watch and learn from my fellow colleagues. In particular, I want to thank you for the time you spent with me training on tax regulations and how to apply them into real world in which enhance my professional skills. The varieties of taxpayer’s status give me a chance to dig into tax world. I learned how VIEW DOCUMENT
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Intro To Programing Chapter 2 Review

275 words - 2 pages .” Input name Display “enter your address with city, state, and zip Input address Display “Enter your telephone number” Input telephone number Display “what is your college major?” Input college major Display “here is your information: “, name, address, telephone number, college major 4. Display “Enter price 1” Input price 1 Display “enter price 2” Input price 2 Display “enter price 3 Input price 3 Display “enter price 4” Input price 4 Display “enter price 5” Set subtotal = price1+price2+price3+price4+price5 Display subtotal Set tax = 6% Set total = subtotal + tax Display “your total is “, total 6. display “Enter purchase price” Input price Set state tax = 0.04 Set county tax = 0.02 Set total = price(State tax + county tax) + Price Display “Your total after tax is “, total 8. Display “enter food amount” Input food Set tip = 15% Set tax = 7% Set total = food + tip + tax Display “here is your total after tip and taxes “, total VIEW DOCUMENT
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Taxation In Nz

3943 words - 16 pages the confidentiality of any persons/organisations referred to in this assessment. - I permit this assessment to be copied for academic processes (such as moderation). - I have retained a copy of this assessment electronically. Signature ………………………………. Date …………………………. IntroductionIntroduction of anti-avoidance provisions takes very back in time of 1878, since then the legislation has been twisted many times to ensure interpretation and solicitation against potential treats of tax avoidance. Tax avoidance provisions are illustrated in section BG1, GA1 and YA1 of Income Tax Act (ITA) 2007 closely read with applicable sections of Tax Administrative Act 1994. The report aims to throw VIEW DOCUMENT
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Actg 421 Exam 1 Study Guide

580 words - 3 pages Exam 1 Study Guide Main Themes from each Chapter to understand *This is not a comprehensive list of topics covered that may be included on the quiz and exam Chapter 1 * Definition of a Tax * Standards for evaluating a tax (Adam Smith) * Tax Rate Structures – define, identify, and calculate (marginal, average, effective, proportional, progressive, regressive) * Major types of US taxes – general level * You do not need to know how to calculate SS/employment tax (but do need to know how to calculate how much SS income is taxable – CH 3) * Sources of Federal Income Tax Law – general level * Income tax terminology * General income tax filing requirements and VIEW DOCUMENT
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Global Warming

307 words - 2 pages I worked on this case for over two years. The jury awarded my client $2,000,000 in damages, of which my fee was $300,000 plus recovery of expenses paid up front in the amount of $25,000. How is the $300,000 taxed? What about the $25,000? What can I do to minimize the tax consequences of each? Also, I am thinking about buying the building that I currently lease my office space in. My current lease is $3,500 per month. How is this lease reported on my income tax returns (either personally or for my business which is a separate law practice established as an LLC)? Do I get better tax benefits for paying the lease or for buying the building? What are the differences? XXXXX XXXXX I think VIEW DOCUMENT
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Unit 3 Assignment 1

731 words - 3 pages statement that subtracts the variable downpayment from the variable total and assigns the result to the variable due. * Declare Integer downPayment * Declare Integer Total * Declare Integer Due * Set Due = Total - downPayment 10. Write a pseudo code statement that multiplies the variable subtotal by 0.15 and assigns the result to the variable totalfee. l. set totalfee = subtotal * 0.15 Programming Exercise: 1. Sales Tax a. Design a program that will ask the user to enter the amount of a purchase. The program should then compute the state and county sales tax. Assume the state sales tax is 4% and the county sales tax is 2%. The program VIEW DOCUMENT
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Impacts Of Vat On Nigerian Economy

351 words - 2 pages The impact of value added tax in Nigeria is that of a coin, what I mean by that is that it has two sides, both negative and positive,on the side of government, it has tremendiously increased the revenue earnings as opposed to the normal system before the advent of the (vat), it has reduced the incidence of tax invasion as many people who hitherto used to avoid vat has been paying as it is indirect form of tax system. Many goods that people purchase these days has tax tag sometimes unknowingly by them. VALUE ADDED TAX (VAT): This was introduced by the VAT decree No. 2 of 1993, to replace the old sales tax. It is a consumption tax levied at each stage of the consumption chain, and is borne by VIEW DOCUMENT
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Basics Of Taxation

4930 words - 20 pages BASICS OF TAXATION (Income Tax Ordinance, 1984) Updated till Finance Act. 2012 Of all the direct taxes, Income Tax ranks foremost. By nature and heritage, many of us tend to be just “free riders” in the society. We are little emotional and sometimes unreasonable in demanding more and more state services without the mentality to yield our due share to the cost of the exchequer. Tax laws and personnel connected therewith are many often thought to be inimical by the taxpayers. But it’s a reality that to safeguard our existence and interest in the society, every one of us must pay tax according to our abilities to keep the statecraft running. Taxation is not only a major means of public VIEW DOCUMENT
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Mkt Business Reasearch

1078 words - 5 pages THE IBN SINA PHARMACEUTICAL INDUSTRY LTD. |||||| |||||||| STATEMENT OF FINANCIAL POSITION |||||||| As at 31st December, 2014|||||||| |||||||| ||(Amount in Taka)|||||| |2014|2013|2012|2011|2010||| ASSETS:|||||||| Non-Current Assets: |||||||| Property, Plant and Equipment | 515,907,382| 383,646,483| 372,063,184| 329,163,404| 330,214,386||| Investment in Marketable Securities (AFS)| 266,587,581| 335,048,887| 347,245,066| 353,710,093| 52,642,690||| Deferred Tax Assets | -??| -??| 4,765,377| 1,226,512| 19,872||| | 782,494,963| 718,695,370| 724,073,627| 684,100,009| 382,876,948||| Current Assets :|||||||| Inventories| 150,047,338| 136,650,467| 105,024,268| 83,398,069| 66,404,326||| Accounts VIEW DOCUMENT
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Business Entities

311 words - 2 pages credit cards to fund the newly formed business d. Venture capitalists for private placement of non-public security e. Venture capitalists will then exit in IPO (initial public offering) Taxes: A. Income is treated as an ordinary personal income for filing tax purposes b. In the U.S. Personal income tax usually has the highest taxation rate. 1. There could be a large tax burden depending on personal tax rate Unlimited Liability a. Personal and company assets could be exposed to creditors, obligations along with personal injury lawsuits. II. General Partnership Advantage: a. Same as sole proprietors b. Management responsibilities are divided up c. Quick VIEW DOCUMENT
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Evade Pays Up

339 words - 2 pages eVade, an online retailer, fulfills its online orders by shipping its products directly to customers in all 50 states. eVade does not have a brick-and-mortar store presence in any state, but does operate distribution centers in various states across the country, including State X. Consistent with its practice in all 50 states, eVade does not collect or remit sales tax to State X. In recent court rulings, State X has taken the position that operating a distribution center within a state constitutes nexus and thus would subject that company to collect and remit sales tax on all sales within that state. As of December 31, 2011, eVade has operated its distribution center in State X for VIEW DOCUMENT
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Corporations Vs Partnerships

1583 words - 7 pages Corporation versus Partnership Strayer University ACC317 Advanced Federal Taxation December 7, 2013 Starting a business is not an easy task. First, one must decide what type of entity the business will be in an effort to maximize profits and reduce tax obligations as much as possible. The two entities I will discuss are corporations and partnerships. A corporation is defined as a legal entity that is separate and distinct from its owners. Corporations have most of the responsibilities and rights as individuals, however corporations have the right to enter into contracts, loan and borrow money, sue and be sued, hire employees, own assets and pay taxes. (Investopedia VIEW DOCUMENT
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Fiscal Policy

894 words - 4 pages Topic 4 – Fiscal Policy Refers to the governments choices regarding the overall level of government purchases or taxes * Government spending – on health sector, education, infrastructure, defence. * Taxation policy – income tax, sales tax (VAT), corporate tax, capital gains tax. Fiscal policy and aggregate demand * Government spending – increase in G spending → AD shifting right * e.g. Gov places £10 billion order for new school buildings → building contractor has increased demand for output → hires more staff and increases production. * Taxation – * Income tax cut → consumption increases → AD shifting right * Corporate tax cut → investment VIEW DOCUMENT
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Price Waterhouse

257 words - 2 pages Price Waterhouse This company is a multinational professional services network. It is the second largest professional services network in the world. PwC is a network of firms in 157 countries with more than 184,000 people. In 2012 the company had total revenues of $31.5 billion, of which $14.9 billion was generated by its practice, $7.9 billion by its Tax practice and $8.7 billion by its Advisory practice The firm was formed in 1998 by a merger between Coopers & Lybrand and Price Waterhouse.[1] The trading name was shortened to PwC in September 2010 as part of a rebranding.[6] As of 2012 PwC United States is the fifth-largest privately owned organization in the United States.[7 VIEW DOCUMENT
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Cover Letter

255 words - 2 pages 9/17/2015 To whom it may concern, I am a motivated individual with a strong desire to learn and establish a long standing career in public accounting. I interned for Cohen and Company this past spring, and it opened my eyes to many things beyond the classroom. I look forward to learning more about the real world application of accounting – specifically tax and audit accounting. Throughout the internship, I prepared various types of tax returns – corporate, personal, gift, trust, etc. I worked closely with staff and other interns. My internship only dealt with tax, but I would like to get a taste of audit this time around. I would like to intern in audit and tax this spring so I VIEW DOCUMENT
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Math Percents

258 words - 2 pages Controlling Your Checkbook Portfolio You recently opened your checking account with ReallyBigBank on August 1 using $100.00. Complete the checkbook register using the following transactions then explain how you completed the first four transactions. August 1 – Opened the checking account with $100.00 August 2 – Purchased groceries from Grocer’s Haven for $43.82 plus 4% tax. (Check 101) August 2 – Paid $8.00 for parking using your debit card. August 4 – Deposited paycheck from work. ($9.75/ hr for 40 hours) August 6 – Paid HydroPower $35.11. (Check 102) August 6 – Bought 3 pairs of pants at $29.99 each with a 10% coupon and 5% sales tax from Bargains-R-Us. (Check 103 VIEW DOCUMENT
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Askum

466 words - 2 pages . Operating expenditure : alokasi yang direncanakan dalam budget untuk melakukan operasi perusahaan secara normal, atau biaya operasi digunakan untuk menjaga kelangsungan asset dan menjamin aktivitas perusahaan yang direncanakan berlangsung dengan baik. SOAL HITUNGAN 3. Book Value = Harga mesin baru – accumulated depreciation = Rp. 20.250.000 – [20.250.000 (20% + 32%)] = Rp. 9.720.000,- Tax = (12.000.000 – 9.720.000) x 40% = Rp. 1.112.000,- Proceed atas penjualan mesin lama = 12.500.000 – 1.112.000 = Rp. 11.388.000 * Rp. 35.000.000 – 11.388.000 = Rp. 23.612.000 | Tahun 1 | Tahun 2 | Tahun 3 | Tahun 4 | Tahun 5 | Tahun 6 | Revenue | 80.750.000 | 80.750.000 VIEW DOCUMENT
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The Affordable Care Act

2171 words - 9 pages presented from both the left and right winged. ObamaCare significantly affects taxpayers as it introduces new laws and regulations for individual tax payers and businesses alike. Net Investment Income Tax Little attention has been paid to the tax ramifications for American citizens as the deadline to apply for healthcare coverage quickly approaches. The Affordable Care Act affects three specific taxable areas for individuals, families, and businesses. The new law has seen extreme dissent and disapproval by upper-income level individuals and families because of the Net Investment Income Tax. Under this new tax proposal, as a provision of ObamaCare, a 3.8 percent Medicare surtax applies to the VIEW DOCUMENT
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Implementation Of Gst In Malaysia

3421 words - 14 pages (i) There were several changes in income tax rates and policies concerning individuals and sole proprietor businesses that were proposed in the Budget 2014. The three significant changes in tax policies are listed below. Review of Individual Income Tax In consideration of the implementation of the Goods and Services Tax (GST) which takes effect on 1stApril 2015, the government had proposed several changes to reduce individual income tax rates with effect from Year of Assessment (YA) 2015. The proposed changes are: I. Income tax rates for resident individuals is to be reduced by 1% to 3% II. Income tax rates for non-resident individuals is to be reduced by 1% from 26% to 25 VIEW DOCUMENT
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Managerial Economics

1283 words - 6 pages government. The opportunity this provides is providing affordable health care options to all Americans who cannot afford private insurance or are not offered insurance through their employer. This will have cost savings on two fronts, with a competing health coverage provider, commercial entities will have to become more competitive with pricing or offer more benefits that make it more appealing to policy holders to stay on board, like how private universities must compete with public universities. The other savings will come to people through the reduction of cost of taking care of uninsured Americans and the burden that is shifted to tax payers to make up for the lost money. Like all public VIEW DOCUMENT
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Faqs On Electronic Filing And Payment System Of Bir

3160 words - 13 pages What is eFPS ? eFPS stands for Electronic Filing and Payment System, and it refers to the system developed and maintained by the Bureau of Internal Revenue (BIR) for electronically filing tax returns, including attachments, if any, and paying taxes due thereon, specifically through the internet. What is e-Filing? e-Filing is the process of electronically filing returns including attachments, if any, specifically through the internet. What is e-Payment? e-Payment is the process of electronically paying a tax liability through the internet banking facilities of Authorized Agent Banks (AABs). Why do we need to use eFPS? What are its objectives? With eFPS, taxpayers can avail of a VIEW DOCUMENT
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Washington Consensus

2315 words - 10 pages policies prescribed encompassed: Fiscal discipline, redirection of public expenditure towards broad-based provision of key pro-growth, pro-poor services like primary education and primary health, tax reform, financial liberalization, a competitive exchange rate, trade liberalization, liberalization of inward foreign direct investment, privatization, deregulation and secure property rights. According to Williamson (1996), the phrase Washington Consensus has become a familiar term in development policy circles. The term has come to be used fairly widely in a second, broader sense, to refer to a synonym for what is often called market fundamentalism or neo-liberalism which refers to Laissez-faire VIEW DOCUMENT
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Financial Accounting 557

595 words - 3 pages • After reviewing the scenario, explore the key exceptions that would prevent taxpayers from deferring the tax liability on inherited property and like-kind exchanges. Identify at least two (2) types of property that are not considered like-kind exchanges, and speculate on the reasons why they do not meet the requirements for consideration. Defend your position. From the first quest we are asked to reviewing the scenario, explore the key exceptions that would prevent taxpayers from deferring the tax liability on inherited property and like-kind exchanges. Identify at least two (2) types of property that are not considered like-kind exchanges, and speculate on the reasons why they do not VIEW DOCUMENT
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Fedtax 1-45, 1-47, 2-67 &2-68

757 words - 4 pages Solutions to Problems 1-45, 1-47, 2-67 &2-68 As for problem 1-45, Paul did not meet his entire obligation to the IRS in 2011. Hi had a tax liability of $32,817 and he was withheld $27,198 therefore owing the IRS $5,619. But Paul did not pay the $5,619 with his tax return and rather opted to pay 8 month later without asking for an extension. Therefore Paul faces a penalty and possible interest charges for the unpaid tax liability of $5,619. The penalty could be 0.5% per month (or fraction thereof) up to a maximum of 25% for failure to pay the taxes that where due. If Paul penalty would have been 0.5% the amount owed would be $7,866.60 {$5,619 + $2247.60 (5,619*0.05*8)} or could be up VIEW DOCUMENT
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Cpa Report

1063 words - 5 pages as a corporation. * Discuss my primary responsibilities of a CPA. * Provide the difference between a review and an audit. The methodology used to determine deferred taxes. Companies will have two different types of deferred tax methods to choose: 1. Liability Tax Allocation Method 2. Deferred Tax Allocation Method Liability Tax Allocation Method suggests that deferred taxes are based on estimated tax rates because; temporary difference will reserve itself. Meaning, all tax rates are adjusted according to corresponding rate change(s), for future use within a current period. In addition, Liability Tax Allocation Method is allowed for financial reporting VIEW DOCUMENT
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Auditing

1046 words - 5 pages of independence. This appearance of independence may be impaired if an auditor becomes excessively involved in social activities with clients. As a CPA, you need to be fair, objective and independent during the working. As a common person, it’s normal for you to have your friend and social activities. So the most important is to make working and live independent from each other, while you may not get into trouble. 1-38 a. Taxation IRS: The IRS administers all U.S. federal taxation on domestic activities, except those taxes administered by TTB. IRS functions include: * Processing federal tax returns (except TTB returns), including those for Social Security and other federal VIEW DOCUMENT