Tax Research Memorandum
To: Bruce Wilson
From: Tax Accountant, CPA
Date: December 31, 2015
Re: Tax Treatment of Lottery Winnings
Facts
You won $2,000,000 in the state lottery. The lottery pays out the prize money in 20 annual
installments of $100,000 each. After receiving three $100,000 installments ($300,000), you
sold the remaining $1,700,000 for $1,000,000. You want to report the $1,000,000 as long-
term capital gain, on which the tax rate is 15%, rather than reporting it as ordinary income, on
which you would be required to pay your 35% marginal tax rate.
Issue
The issues are (1) whether lottery winnings can be taxed at the long-term capital gains tax
rate, and (2) whether selling the right to the cash flow from the winnings for a lump sum after
owning the right to such cash flow for more than one year qualifies for long-term capital
gains tax treatment.
Rule
Lottery rights are not a capital asset, and selling those rights, even after holding them for over
one year, falls under the “substitute for ordinary income doctrine, which provides that when a
party receives a lump sum payment as essentially a substitute for what would otherwise be
received at a future time as ordinary income, that lump sum payment is taxable as ordinary
income as well.” R.W. Womack v. Comm’r, 510 F. 3d 1295 (11th Cir. 2007).
Analysis
It is well established that Lottery rights are not a capital asset. Watkins v. Comm’r, 447 F. 3d
1269 (10th Cir. 2006); Lattera v. Comm’r, 437 F. 3d 399 (3d Cir. 2006), cert. denied, 127 S.
Ct. 1328 (2007); United States v. Maginnis, 356 F. 3d 1179 (9th Cir. 2004); Davis v. Comm’r,
119 T.C. 1 (2002). Although 26 U.S.C. §1221 defines Capital Asset quite broadly, and does
not specifically except lottery winnings from the definition, the 11th Circuit has found that
“the statutory definition of capital asset has never been read as broadly as the statutory
language might seem to permit, because such a reading would encompass some things
Congress did not intend to be taxed as capital gains.” Womack, 510 F.3d 1295; Maginnis, 356
F.3d at 1181;. All of these decisions are based on the so-called substitute for ordinary income
doctrine, which provides that when a party receives a lump sum payment as “essentially a
substitute for what would otherwise be received at a future time as ordinary income, that
lump sum payment is taxable as ordinary income as well.” Comm’r v. P.G. Lake, Inc., 356
U.S. 260, 265, 78 S. Ct. 691, 694 (1958). Womack, 510 F.3d 1295. The courts have focused
on two significant factors in determining that lottery rights are not a capital asset and,
therefore, the sale of such asset would not constitute a long term capital gain:
1. The taxpayer did not make any underlying investment of capital in return for the receipt of
the lottery right, and
2. The sale of the right did not reflect an accretion in value over cost to any underlying asset
held by t ...
Tax Research Assignment 2Acct 6140 Students OnlyFall 2013You.docxssuserf9c51d
Tax Research Assignment 2
Acct 6140 Students Only
Fall 2013
Your assignment is to write a professional tax research memorandum that
addresses the issue shown below.
Mike is a salesperson who represents several companies. On
January 2, 2014, he receives by mail a commission check from
Produce Packaging Distributors, Inc. in the amount of $13,500 and
dated December 30, 2013. Mike is concerned about the year in
which the $13,500 is taxable. Although the check is dated 2013, he
contends that it would have been unreasonable for him to drive the
55 miles to the Produce Packaging offices on a holiday to collect the
check. Further, Mike maintains that even if he had made the trip to
collect the check, by the time he returned home, his bank would have
closed and he could not have received credit for the check until after
the first of the year.
In addition, Mike attended classes provided by his church in 2013.
He made payments to the church that were required to attend
classes. He plans to deduct the payments as charitable contributions
to his church on his 2013 tax return.
a. Mike would like you to determine whether he should include the
$13,500 commission income on his 2013 or 2014 tax return.
b. Mike would also like to know if he can deduct the payments to his
church as charitable contributions in 2013.
Tax Research Memo Format:
Title your memo either generally, e.g., Research Memorandum or more
specifically, e.g., name of the client and the specific tax situation at hand
Address your memo to the client file [include the standard Date, To, From,
and Re headings]
Organize the body of your memo using the following subheadings:
o Facts
o Issue(s)
o Conclusion(s)
o Analysis/Discussion
The Facts section should clearly and concisely summarize all relevant
facts that may affect the tax outcomes. In particular, include dollar
amounts, dates, and names of all parties to transactions.
The Issues section should include numbered issues if there is more than
one. Write each issue as a question. Include enough of the facts to give
context to the question. For example, How much, if any, of the $3,000
John Doe paid for attending a Real Estate conference cruise from Miami
to Galveston can he deduct as a business education expense? is better
than What are the tax consequences of these facts?
The Conclusion(s) should be numbered to correspond to the Issue(s).
State a definite conclusion, if possible, for each Issue. If a definite
conclusion is not possible, for example, because you are researching
alternative ways to plan a transaction, then state the conclusion that will
be appropriate IF each alternative is taken.
The Analysis/Discussion section should be organized to correspond to
each issue if there is more than one.
Each numbered subsection in the Analysis section should be organized as
follows:
o Summarize the relevant Code section. For example, if you are
analyzing a deductibility of a business expense, begin by
summarizing the rule in §162(a). Parap ...
For more classes visit
www.snaptutorial.com
ACC 565 Final Exam Guide
Question 1
Barbara sells a house with an FMV of $170,000 to her daughter for $120,000. From this transaction, Barbara is deemed to have made a gift (before the annual exclusion) of
Question 2
For more course tutorials visit
www.tutorialrank.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
2. Three accounting issues associated with accounts receivable are
ACC 291 NEW Become Exceptional--acc291new.comclaric123
For more course tutorials visit
www.acc291.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
For more course tutorials visit
www.tutorialrank.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
ACC 291NEW Lessons in Excellence / acc291.comkopiko30
For more course tutorials visit
www.acc291.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
Tax Research Assignment 2Acct 6140 Students OnlyFall 2013You.docxssuserf9c51d
Tax Research Assignment 2
Acct 6140 Students Only
Fall 2013
Your assignment is to write a professional tax research memorandum that
addresses the issue shown below.
Mike is a salesperson who represents several companies. On
January 2, 2014, he receives by mail a commission check from
Produce Packaging Distributors, Inc. in the amount of $13,500 and
dated December 30, 2013. Mike is concerned about the year in
which the $13,500 is taxable. Although the check is dated 2013, he
contends that it would have been unreasonable for him to drive the
55 miles to the Produce Packaging offices on a holiday to collect the
check. Further, Mike maintains that even if he had made the trip to
collect the check, by the time he returned home, his bank would have
closed and he could not have received credit for the check until after
the first of the year.
In addition, Mike attended classes provided by his church in 2013.
He made payments to the church that were required to attend
classes. He plans to deduct the payments as charitable contributions
to his church on his 2013 tax return.
a. Mike would like you to determine whether he should include the
$13,500 commission income on his 2013 or 2014 tax return.
b. Mike would also like to know if he can deduct the payments to his
church as charitable contributions in 2013.
Tax Research Memo Format:
Title your memo either generally, e.g., Research Memorandum or more
specifically, e.g., name of the client and the specific tax situation at hand
Address your memo to the client file [include the standard Date, To, From,
and Re headings]
Organize the body of your memo using the following subheadings:
o Facts
o Issue(s)
o Conclusion(s)
o Analysis/Discussion
The Facts section should clearly and concisely summarize all relevant
facts that may affect the tax outcomes. In particular, include dollar
amounts, dates, and names of all parties to transactions.
The Issues section should include numbered issues if there is more than
one. Write each issue as a question. Include enough of the facts to give
context to the question. For example, How much, if any, of the $3,000
John Doe paid for attending a Real Estate conference cruise from Miami
to Galveston can he deduct as a business education expense? is better
than What are the tax consequences of these facts?
The Conclusion(s) should be numbered to correspond to the Issue(s).
State a definite conclusion, if possible, for each Issue. If a definite
conclusion is not possible, for example, because you are researching
alternative ways to plan a transaction, then state the conclusion that will
be appropriate IF each alternative is taken.
The Analysis/Discussion section should be organized to correspond to
each issue if there is more than one.
Each numbered subsection in the Analysis section should be organized as
follows:
o Summarize the relevant Code section. For example, if you are
analyzing a deductibility of a business expense, begin by
summarizing the rule in §162(a). Parap ...
For more classes visit
www.snaptutorial.com
ACC 565 Final Exam Guide
Question 1
Barbara sells a house with an FMV of $170,000 to her daughter for $120,000. From this transaction, Barbara is deemed to have made a gift (before the annual exclusion) of
Question 2
For more course tutorials visit
www.tutorialrank.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
2. Three accounting issues associated with accounts receivable are
ACC 291 NEW Become Exceptional--acc291new.comclaric123
For more course tutorials visit
www.acc291.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
For more course tutorials visit
www.tutorialrank.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
amounts due from individuals or companies.
ACC 291NEW Lessons in Excellence / acc291.comkopiko30
For more course tutorials visit
www.acc291.com
1. The term “receivables” refers to
cash to be paid to debtors.
merchandise to be collected from individuals or companies.
cash to be paid to creditors.
The following selected account balances were taken from the .docxoreo10
The following selected account balances were taken from the general ledger of Vance Corporation as of
December 31, 20X7. Examine this information and prepare the property, plant, and equipment section of
the company's balance sheet. All accounts listed carry a normal balance.
Land $ 500,000
Buildings 1,650,000
Equipment 2,860,000
Accumulated depreciation: Buildings 472,000
Accumulated depreciation: Equipment 1,333,400
Depreciation expense: Buildings 125,000
Depreciation expense: Equipment 278,111
Evaluate the following costs and decide if each is a "capital expenditure" or not. Then, if a capital expenditure,
decide which account the cost should be recorded in: Land, Land Improvement, Building, or Equipment. The
first item is done as an example.
Balance sheet presentation of property, plant, and equipment B-10.01
Identification of capital expenditures B-10.03
Mike
Highlight
Mike
Highlight
Capital Category
Yes No Land
Land
Improvement
Building Equipment
Delivery cost
of new
furniture
Wages paid
to guard at
office building
Fees for title
insurance on land
purchase
Cost of periodic
repainting of
parking lot
Cost of
building new
sidewalks
Interest costs
on loan to buy
equipment
Computer training class
on general commercial
software package
Interest cost on loan
during construction period
for new building
Architects
fees for
new building
Installation and
setup costs on
new machinery
Repair of damage
to device broken
during initial installation
Safety violation
fines at
construction site
Tap fees for connecting
new building to
city water system
On January 1, 20X3, Perkins Printing Corporation purchased a digital press for $1,450,000. It cost an additional
$50,000 to deliver, install, and calibrate the press. This machine has a service life of 5 years, at which time it
is expected that the device will be disposed of for a $100,000 salvage value.
Perkins uses the straight-line depreciation method.
(a) Prepare a schedule showing annual depreciation expense, accumulated depreciation, and related
calculations for each year.
(b) Show how the asset and related accumulated depreciation would appear on a balance sheet at
December 31, 20X5.
B-10.06 Straight-line depreciation
Mike
Highlight
Robinson Corporation recently requested a contractor to prepare a proposal to refurbish the exterior of its
office building. Robinson wanted to give its building a "face lift." The contractor provided the following bid
document:
ROBINSON CORPORATION BID
Add extension to front porch approach $20,000
Install shrubs and trees 2,500
Replace rotting exterior siding material 7,500
Replace burned out exterior light bulbs 500
Total for all work: $30,500
Assume that Robinson Corporation agreed to the bid, and authorized the work. What journal entry would
be appropriate for each of the above expenditures?
Ng's Shrimp Company owns a fishing vessel that originally cost $250 ...
ACC 291 GENIUS NEW Education for Service--acc291genius.comkopiko55
FOR MORE CLASSES VISIT
www.acc291genius.com
1. The term “receivables” refers to cash to be paid to debtors. merchandise to be collected from individuals or companies. cash to be paid to creditors. amounts due from
October 2015: New York Tax Update for Closely Held and Flow Through EntitiesTimothy Noonan
Overview of New York State and City tax issues affecting closely-held and flow-through entities and their owners doing business in New York. Presented for the NYSSCPAs at the annual Closely Held and Flow Through Entity Conference in October 2015.
FOR MORE CLASSES VISIT
www.acc291guide.com
1. The term “receivables” refers to cash to be paid to debtors. merchandise to be collected from individuals or companies. cash to be paid to creditors. amounts due from individuals or companies. 2. Three accounting issues associated with accounts receivable are depreciating
According to the NASW Code of Ethics section 6.04 (NASW, 2008), .docxaryan532920
According to the NASW Code of Ethics section 6.04 (NASW, 2008), social workers are ethically bound to work for policies that support the healthy development of individuals, guarantee equal access to services, and promote social and economic justice.
For this Discussion
, review this week’s resources, including
Working with Survivors of Sexual Abuse and Trauma: The Case of Rita
and “The Johnson Family”. Consider what change you might make to the policies that affect the client in the case you chose. Finally, think about how you might evaluate the success of the policy changes.
By Day 3
Post
an explanation of one change you might make to the policies that affect the client in the case. Be sure to reference the case you selected in your post. Finally, explain how you might evaluate the success of the policy changes.
Working With Survivors of Sexual Abuse and Trauma: The Case of Rita
Rita is a 22-year-old, heterosexual, Latina female working in the hospitality industry at a resort. She is the youngest of five children and lives at home with her parents. Rita has dated in the past but never developed a serious relationship. She is close to her immediate and extended family as well as to her female friends in the Latino community. Although her parents and three of her siblings were born in the Dominican Republic, Rita was born in the United States.
A year ago, Rita was sexually assaulted by an acquaintance of a male coworker. Rita and a female coworker met Juan and Bob after work at a local bar for a light meal and a few drinks. Because Rita had to get up early to work her shift the next day, Bob offered to drive her home. Instead of taking Rita directly home, however, he drove to a desolate spot nearby and assaulted her. Afterward, Bob threatened to harm her family if she did not remain silent and proceeded to drive her home. Although Rita did not tell her family what happened, she did call our agency hotline the next day to discuss her options. Because Rita’s assault occurred within the 5-day window for forensic evidence collection of this kind, Rita consented to activation of the county’s sexual assault response team (SART). Although she agreed to have an advocate and the sexual assault nurse examiner (SANE) meet her at the hospital, Rita tearfully stated that she did not want to file a police report at that time because she did not want to upset her family. The nurse examiner interviewed Rita, collected evidence, recorded any injuries, administered antibiotics for possible sexually transmitted infections, and gave Rita emergency contraception in case of pregnancy. The advocate stayed with Rita during the procedure, supporting her and validating her experience, and gave her a referral for individual crisis counseling at our agency.
My treatment goals for Rita included alleviation of rape trauma syndrome symptoms that included shame and self-blame, validation of self-worth and empowerment, and processing how it would feel to discl.
According to the text, crime has been part of the human condition si.docxaryan532920
According to the text, crime has been part of the human condition since people began to live in groups. Ancient documents indicate that conduct we now call murder, theft, or robbery was identified as criminal by civilizations that existed thousands of years ago. Criminal laws regulate human conduct and tell people what they can and cannot do and, in some instances, what they must do under certain circumstances. In this assignment, you will explore different types of criminal conduct and the goals of criminal law.
Write a four to six (4-6) page paper in which you:
Determine whether or not the Ex Post Facto Clause can be used as a defense to prohibit the increase in federal minimum/mandatory sentencing guidelines after a federal defendant has committed the crime. Provide a rationale to support your position.
Explain the distinction between criminal, tort, and moral wrongs. Next, support or criticize the premise that the standards set by moral laws are higher than those set by criminal law.
Identify and discuss the differences between solicitation of another to commit a crime and a conspiracy to commit a crime. Next, support or criticize the use of the unilateral approach to conspiracy convictions.
Identify the four (4) goals of criminal law, and discuss the manner in which these four goals effectuate the purpose of protecting the public and preventing the conviction of innocent persons.
Use at least three (3) quality academic resources in this assignment.
Note:
Wikipedia and similar types of websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
This course requires use of new
Strayer Writing Standards (SWS
). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow SWS or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Describe the nature and history of American criminal law.
Explain the role of individuals and federal, state, and local government agencies in crime fighting and prosecution of criminal offenses.
Analyze the essential legal elements of criminal conduct.
Use technology and information resources to research issues in criminal law.
Write clearly and concisely about criminal law using proper writing mechanics.
.
According to Ronald Story and Bruce Laurie, The dozen years between.docxaryan532920
According to Ronald Story and Bruce Laurie, “The dozen years between 1968 and 1980 marked more than the beginning of Republican ascendency; they also saw the breakup of the New Deal coalition and the advent of conservative domination of American politics.” (CP 139).
In this essay, you should explain,
first
, how it is that conservatives came to dominate American politics by the 1980s and,
second
,
how the ideas and policies they embraced shaped American society into the twenty first century.
Rules:
1. 3-4 pages
2. Double spaced, 12-point font
3. Standard margins—Approximately 1.25 on left and right margins and 1 on top and bottom
4. In crafting your essay, you will want to construct a clear thesis and draw on evidence from the sources described below.
5.
Only
use these sources below.
Sources:
Context: The Close of the 1960s
1. The black cat tavern and the LGBT Movement
Link:
https://www.npr.org/2017/02/13/514935126/stonewall-riots-grab-the-spotlight-from-black-cat-protests
2. ESPN Sport center on Katherine Switzwer
Link:
https://www.youtube.com/watch?v=U6CoScOIK_I
3. Crisis in the Cities and 1968.pdf (attachment)
4. Excerpt from MLK’s final Speech in 1968
Link:
https://www.youtube.com/watch?v=Oehry1JC9Rk
5. Vietnam-The path to war.pdf (attachment)
The Rediscovery of the Market: Conservative Politics and Policies
6. Alfred Kahn’s Legacy: Cheap Flights
Link:
https://www.npr.org/2010/12/29/132422495/alfred-kahns-legacy-cheap-flights
7. A Second Gilded Age?.pdf (attachment)
.
According to Kirk (2016), most of your time will be spent work with .docxaryan532920
According to Kirk (2016), most of your time will be spent work with your data. The four following group actions were mentioned by Kirk (2016):
Data acquisition: Gathering the raw material
Data examination: Identifying physical properties and meaning
Data transformation: Enhancing your data through modification and consolidation
Data exploration: Using exploratory analysis and research techniques to learn
Select 1 data action and elaborate on the actions performed in that action group.
Reference: Kirk, A. (2016). Data Visualisation: A Handbook for Data Driven Design (p. 50). SAGE Publications.
.
According to the Council on Social Work Education, Competency 5 Eng.docxaryan532920
According to the Council on Social Work Education, Competency 5: Engage in Policy Practice:
Social workers understand that human rights and social justice, as well as social welfare and services, are mediated by policy and its implementation at the federal, state, and local levels. Social workers understand the history and current structures of social policies and services, the role of policy in service delivery, and the role of practice in policy development. Social workers understand their role in policy development and implementation within their practice settings at the micro, mezzo, and macro levels and they actively engage in policy practice to effect change within those settings. Social workers recognize and understand the historical, social, cultural, economic, organizational, environmental, and global influences that affect social policy. They are also knowledgeable about policy formulation, analysis, implementation, and evaluation.
Walden’s MSW program expects students in their specialization year to be able to:
Evaluate the implication of policies and policy change in the lives of clients/constituents.
Demonstrate critical thinking skills that can be used to inform policymakers and influence policies that impact clients/constituents and services.
This assignment is intended to help students demonstrate the behavioral components of this competency in their field education.
To prepare
: Working with your field instructor, identify a social problem that is common among the organization (or its clients) and research current policies at that state and federal levels that impact the social problem. Then, from a position of advocacy, identify methods to address the social problem (i.e., how you, as a social worker, and the agency advocate to change the problem). You are expected to specifically address how both you and the agency can effectively engage policy makers to make them aware of the social problem and the impact that the policies have on the agency and clients.
The Assignment (2-3 pages): Social Problems is Ex-cons finding Jobs Opportunities in State of California. The Agency is Called "Manifest" the website is Manifest.org
Identify the social problem
Explain rational for selecting social problem
Describe state and federal policies that impact the social problem
Identify specific methods to address the social problems
Explain how the agency and student can advocate to change the social problem
You are expected to present and discuss this assignment with your agency Field Instructor. Your field instructor will be evaluating your ability to demonstrate this competency in their field evaluation. In addition, you will submit this assignment for classroom credit. The Field Liaison will grade the assignment “PASS/FAIL,” see rubric for passing criteria.
.
According to Kirk (2016), most of our time will be spent working.docxaryan532920
According to Kirk (2016), most of our time will be spent working with our data. The four following group actions were mentioned by Kirk (2016):
Book: Kirk, A. (2016). Data visualisation a handbook for data driven design. Los Angeles, CA: Sage.
Data acquisition: Gathering the raw material
Data examination: Identifying physical properties and meaning
Data transformation: Enhancing your data through modification and consolidation
Data exploration: Using exploratory analysis and research techniques to learn
Select 1 data action and elaborate on the actions preformed in that action group.
.
According to Kirk (2016), most of your time will be spent working wi.docxaryan532920
According to Kirk (2016), most of your time will be spent working with your data. The four following group actions were mentioned by Kirk (2016):
Data acquisition: Gathering the raw material
Data examination: Identifying physical properties and meaning
Data transformation: Enhancing your data through modification and consolidation
Data exploration: Using exploratory analysis and research techniques to learn
Select 1 data action and elaborate on the actions preformed in that action group.
.
According to Davenport (2014) the organizational value of healthcare.docxaryan532920
According to Davenport (2014) the organizational value of healthcare analytics, both determination and importance, provide a potential increase in annual revenue and ROI based on the value and use of analytics. To complete this assignment, research and evaluate the challenges faced in the implementation of healthcare analytics in the Health Care Organization (HCO) or health care industry using the following tools:
The paper must also address the following:
Application of PICO (problem, intervention, comparison group, and outcomes) to the challenge identified in your research.
The paper:
Must be two to four double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the
Ashford Writing Center. (Links to an external site.)
Must include a separate title page with the following:
Title of paper
Student’s name
Course name and number
Instructor’s name
Date submitted
Must use at least three scholarly sources in addition to the course text.
Must document all sources in APA style as outlined in the Ashford Writing Center.
Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center.
.
According to the authors, privacy and security go hand in hand; .docxaryan532920
According to the authors, privacy and security go hand in hand; and hence, privacy cannot be protected without implementing proper security controls and technologies. Today, organizations must make not only reasonable efforts to offer protection of privacy of data, but also must go much further as privacy breaches are damaging to its customers, reputation, and potentially could put the company out of business. As we continue learning from our various professional areas of practice, its no doubt that breaches have become an increasing concern to many businesses and their future operations. Taking Cyberattacks proliferation of 2011 into context, security experts at Intel/McAfee discovered huge series of cyberattacks on the networks of 72 organizations globally, including the United Nations, governments and corporations.
Q: From this research revelation in our chapter 11, briefly state and name the countries and organizations identified as the targeted victims?
.
According to Gilbert and Troitzsch (2005), Foundations of Simula.docxaryan532920
According to Gilbert and Troitzsch (2005), Foundations of Simulation Modeling, a simulation model is a computer program that captures the behavior of a real-world system and its input and possible output processes.
Briefly explain what the simulation modeling relies upon?
-500 words at least.
-No Plagiarism.
-APA Format.
.
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The following selected account balances were taken from the .docxoreo10
The following selected account balances were taken from the general ledger of Vance Corporation as of
December 31, 20X7. Examine this information and prepare the property, plant, and equipment section of
the company's balance sheet. All accounts listed carry a normal balance.
Land $ 500,000
Buildings 1,650,000
Equipment 2,860,000
Accumulated depreciation: Buildings 472,000
Accumulated depreciation: Equipment 1,333,400
Depreciation expense: Buildings 125,000
Depreciation expense: Equipment 278,111
Evaluate the following costs and decide if each is a "capital expenditure" or not. Then, if a capital expenditure,
decide which account the cost should be recorded in: Land, Land Improvement, Building, or Equipment. The
first item is done as an example.
Balance sheet presentation of property, plant, and equipment B-10.01
Identification of capital expenditures B-10.03
Mike
Highlight
Mike
Highlight
Capital Category
Yes No Land
Land
Improvement
Building Equipment
Delivery cost
of new
furniture
Wages paid
to guard at
office building
Fees for title
insurance on land
purchase
Cost of periodic
repainting of
parking lot
Cost of
building new
sidewalks
Interest costs
on loan to buy
equipment
Computer training class
on general commercial
software package
Interest cost on loan
during construction period
for new building
Architects
fees for
new building
Installation and
setup costs on
new machinery
Repair of damage
to device broken
during initial installation
Safety violation
fines at
construction site
Tap fees for connecting
new building to
city water system
On January 1, 20X3, Perkins Printing Corporation purchased a digital press for $1,450,000. It cost an additional
$50,000 to deliver, install, and calibrate the press. This machine has a service life of 5 years, at which time it
is expected that the device will be disposed of for a $100,000 salvage value.
Perkins uses the straight-line depreciation method.
(a) Prepare a schedule showing annual depreciation expense, accumulated depreciation, and related
calculations for each year.
(b) Show how the asset and related accumulated depreciation would appear on a balance sheet at
December 31, 20X5.
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Mike
Highlight
Robinson Corporation recently requested a contractor to prepare a proposal to refurbish the exterior of its
office building. Robinson wanted to give its building a "face lift." The contractor provided the following bid
document:
ROBINSON CORPORATION BID
Add extension to front porch approach $20,000
Install shrubs and trees 2,500
Replace rotting exterior siding material 7,500
Replace burned out exterior light bulbs 500
Total for all work: $30,500
Assume that Robinson Corporation agreed to the bid, and authorized the work. What journal entry would
be appropriate for each of the above expenditures?
Ng's Shrimp Company owns a fishing vessel that originally cost $250 ...
ACC 291 GENIUS NEW Education for Service--acc291genius.comkopiko55
FOR MORE CLASSES VISIT
www.acc291genius.com
1. The term “receivables” refers to cash to be paid to debtors. merchandise to be collected from individuals or companies. cash to be paid to creditors. amounts due from
October 2015: New York Tax Update for Closely Held and Flow Through EntitiesTimothy Noonan
Overview of New York State and City tax issues affecting closely-held and flow-through entities and their owners doing business in New York. Presented for the NYSSCPAs at the annual Closely Held and Flow Through Entity Conference in October 2015.
FOR MORE CLASSES VISIT
www.acc291guide.com
1. The term “receivables” refers to cash to be paid to debtors. merchandise to be collected from individuals or companies. cash to be paid to creditors. amounts due from individuals or companies. 2. Three accounting issues associated with accounts receivable are depreciating
According to the NASW Code of Ethics section 6.04 (NASW, 2008), .docxaryan532920
According to the NASW Code of Ethics section 6.04 (NASW, 2008), social workers are ethically bound to work for policies that support the healthy development of individuals, guarantee equal access to services, and promote social and economic justice.
For this Discussion
, review this week’s resources, including
Working with Survivors of Sexual Abuse and Trauma: The Case of Rita
and “The Johnson Family”. Consider what change you might make to the policies that affect the client in the case you chose. Finally, think about how you might evaluate the success of the policy changes.
By Day 3
Post
an explanation of one change you might make to the policies that affect the client in the case. Be sure to reference the case you selected in your post. Finally, explain how you might evaluate the success of the policy changes.
Working With Survivors of Sexual Abuse and Trauma: The Case of Rita
Rita is a 22-year-old, heterosexual, Latina female working in the hospitality industry at a resort. She is the youngest of five children and lives at home with her parents. Rita has dated in the past but never developed a serious relationship. She is close to her immediate and extended family as well as to her female friends in the Latino community. Although her parents and three of her siblings were born in the Dominican Republic, Rita was born in the United States.
A year ago, Rita was sexually assaulted by an acquaintance of a male coworker. Rita and a female coworker met Juan and Bob after work at a local bar for a light meal and a few drinks. Because Rita had to get up early to work her shift the next day, Bob offered to drive her home. Instead of taking Rita directly home, however, he drove to a desolate spot nearby and assaulted her. Afterward, Bob threatened to harm her family if she did not remain silent and proceeded to drive her home. Although Rita did not tell her family what happened, she did call our agency hotline the next day to discuss her options. Because Rita’s assault occurred within the 5-day window for forensic evidence collection of this kind, Rita consented to activation of the county’s sexual assault response team (SART). Although she agreed to have an advocate and the sexual assault nurse examiner (SANE) meet her at the hospital, Rita tearfully stated that she did not want to file a police report at that time because she did not want to upset her family. The nurse examiner interviewed Rita, collected evidence, recorded any injuries, administered antibiotics for possible sexually transmitted infections, and gave Rita emergency contraception in case of pregnancy. The advocate stayed with Rita during the procedure, supporting her and validating her experience, and gave her a referral for individual crisis counseling at our agency.
My treatment goals for Rita included alleviation of rape trauma syndrome symptoms that included shame and self-blame, validation of self-worth and empowerment, and processing how it would feel to discl.
According to the text, crime has been part of the human condition si.docxaryan532920
According to the text, crime has been part of the human condition since people began to live in groups. Ancient documents indicate that conduct we now call murder, theft, or robbery was identified as criminal by civilizations that existed thousands of years ago. Criminal laws regulate human conduct and tell people what they can and cannot do and, in some instances, what they must do under certain circumstances. In this assignment, you will explore different types of criminal conduct and the goals of criminal law.
Write a four to six (4-6) page paper in which you:
Determine whether or not the Ex Post Facto Clause can be used as a defense to prohibit the increase in federal minimum/mandatory sentencing guidelines after a federal defendant has committed the crime. Provide a rationale to support your position.
Explain the distinction between criminal, tort, and moral wrongs. Next, support or criticize the premise that the standards set by moral laws are higher than those set by criminal law.
Identify and discuss the differences between solicitation of another to commit a crime and a conspiracy to commit a crime. Next, support or criticize the use of the unilateral approach to conspiracy convictions.
Identify the four (4) goals of criminal law, and discuss the manner in which these four goals effectuate the purpose of protecting the public and preventing the conviction of innocent persons.
Use at least three (3) quality academic resources in this assignment.
Note:
Wikipedia and similar types of websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
This course requires use of new
Strayer Writing Standards (SWS
). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow SWS or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Describe the nature and history of American criminal law.
Explain the role of individuals and federal, state, and local government agencies in crime fighting and prosecution of criminal offenses.
Analyze the essential legal elements of criminal conduct.
Use technology and information resources to research issues in criminal law.
Write clearly and concisely about criminal law using proper writing mechanics.
.
According to Ronald Story and Bruce Laurie, The dozen years between.docxaryan532920
According to Ronald Story and Bruce Laurie, “The dozen years between 1968 and 1980 marked more than the beginning of Republican ascendency; they also saw the breakup of the New Deal coalition and the advent of conservative domination of American politics.” (CP 139).
In this essay, you should explain,
first
, how it is that conservatives came to dominate American politics by the 1980s and,
second
,
how the ideas and policies they embraced shaped American society into the twenty first century.
Rules:
1. 3-4 pages
2. Double spaced, 12-point font
3. Standard margins—Approximately 1.25 on left and right margins and 1 on top and bottom
4. In crafting your essay, you will want to construct a clear thesis and draw on evidence from the sources described below.
5.
Only
use these sources below.
Sources:
Context: The Close of the 1960s
1. The black cat tavern and the LGBT Movement
Link:
https://www.npr.org/2017/02/13/514935126/stonewall-riots-grab-the-spotlight-from-black-cat-protests
2. ESPN Sport center on Katherine Switzwer
Link:
https://www.youtube.com/watch?v=U6CoScOIK_I
3. Crisis in the Cities and 1968.pdf (attachment)
4. Excerpt from MLK’s final Speech in 1968
Link:
https://www.youtube.com/watch?v=Oehry1JC9Rk
5. Vietnam-The path to war.pdf (attachment)
The Rediscovery of the Market: Conservative Politics and Policies
6. Alfred Kahn’s Legacy: Cheap Flights
Link:
https://www.npr.org/2010/12/29/132422495/alfred-kahns-legacy-cheap-flights
7. A Second Gilded Age?.pdf (attachment)
.
According to Kirk (2016), most of your time will be spent work with .docxaryan532920
According to Kirk (2016), most of your time will be spent work with your data. The four following group actions were mentioned by Kirk (2016):
Data acquisition: Gathering the raw material
Data examination: Identifying physical properties and meaning
Data transformation: Enhancing your data through modification and consolidation
Data exploration: Using exploratory analysis and research techniques to learn
Select 1 data action and elaborate on the actions performed in that action group.
Reference: Kirk, A. (2016). Data Visualisation: A Handbook for Data Driven Design (p. 50). SAGE Publications.
.
According to the Council on Social Work Education, Competency 5 Eng.docxaryan532920
According to the Council on Social Work Education, Competency 5: Engage in Policy Practice:
Social workers understand that human rights and social justice, as well as social welfare and services, are mediated by policy and its implementation at the federal, state, and local levels. Social workers understand the history and current structures of social policies and services, the role of policy in service delivery, and the role of practice in policy development. Social workers understand their role in policy development and implementation within their practice settings at the micro, mezzo, and macro levels and they actively engage in policy practice to effect change within those settings. Social workers recognize and understand the historical, social, cultural, economic, organizational, environmental, and global influences that affect social policy. They are also knowledgeable about policy formulation, analysis, implementation, and evaluation.
Walden’s MSW program expects students in their specialization year to be able to:
Evaluate the implication of policies and policy change in the lives of clients/constituents.
Demonstrate critical thinking skills that can be used to inform policymakers and influence policies that impact clients/constituents and services.
This assignment is intended to help students demonstrate the behavioral components of this competency in their field education.
To prepare
: Working with your field instructor, identify a social problem that is common among the organization (or its clients) and research current policies at that state and federal levels that impact the social problem. Then, from a position of advocacy, identify methods to address the social problem (i.e., how you, as a social worker, and the agency advocate to change the problem). You are expected to specifically address how both you and the agency can effectively engage policy makers to make them aware of the social problem and the impact that the policies have on the agency and clients.
The Assignment (2-3 pages): Social Problems is Ex-cons finding Jobs Opportunities in State of California. The Agency is Called "Manifest" the website is Manifest.org
Identify the social problem
Explain rational for selecting social problem
Describe state and federal policies that impact the social problem
Identify specific methods to address the social problems
Explain how the agency and student can advocate to change the social problem
You are expected to present and discuss this assignment with your agency Field Instructor. Your field instructor will be evaluating your ability to demonstrate this competency in their field evaluation. In addition, you will submit this assignment for classroom credit. The Field Liaison will grade the assignment “PASS/FAIL,” see rubric for passing criteria.
.
According to Kirk (2016), most of our time will be spent working.docxaryan532920
According to Kirk (2016), most of our time will be spent working with our data. The four following group actions were mentioned by Kirk (2016):
Book: Kirk, A. (2016). Data visualisation a handbook for data driven design. Los Angeles, CA: Sage.
Data acquisition: Gathering the raw material
Data examination: Identifying physical properties and meaning
Data transformation: Enhancing your data through modification and consolidation
Data exploration: Using exploratory analysis and research techniques to learn
Select 1 data action and elaborate on the actions preformed in that action group.
.
According to Kirk (2016), most of your time will be spent working wi.docxaryan532920
According to Kirk (2016), most of your time will be spent working with your data. The four following group actions were mentioned by Kirk (2016):
Data acquisition: Gathering the raw material
Data examination: Identifying physical properties and meaning
Data transformation: Enhancing your data through modification and consolidation
Data exploration: Using exploratory analysis and research techniques to learn
Select 1 data action and elaborate on the actions preformed in that action group.
.
According to Davenport (2014) the organizational value of healthcare.docxaryan532920
According to Davenport (2014) the organizational value of healthcare analytics, both determination and importance, provide a potential increase in annual revenue and ROI based on the value and use of analytics. To complete this assignment, research and evaluate the challenges faced in the implementation of healthcare analytics in the Health Care Organization (HCO) or health care industry using the following tools:
The paper must also address the following:
Application of PICO (problem, intervention, comparison group, and outcomes) to the challenge identified in your research.
The paper:
Must be two to four double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the
Ashford Writing Center. (Links to an external site.)
Must include a separate title page with the following:
Title of paper
Student’s name
Course name and number
Instructor’s name
Date submitted
Must use at least three scholarly sources in addition to the course text.
Must document all sources in APA style as outlined in the Ashford Writing Center.
Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center.
.
According to the authors, privacy and security go hand in hand; .docxaryan532920
According to the authors, privacy and security go hand in hand; and hence, privacy cannot be protected without implementing proper security controls and technologies. Today, organizations must make not only reasonable efforts to offer protection of privacy of data, but also must go much further as privacy breaches are damaging to its customers, reputation, and potentially could put the company out of business. As we continue learning from our various professional areas of practice, its no doubt that breaches have become an increasing concern to many businesses and their future operations. Taking Cyberattacks proliferation of 2011 into context, security experts at Intel/McAfee discovered huge series of cyberattacks on the networks of 72 organizations globally, including the United Nations, governments and corporations.
Q: From this research revelation in our chapter 11, briefly state and name the countries and organizations identified as the targeted victims?
.
According to Gilbert and Troitzsch (2005), Foundations of Simula.docxaryan532920
According to Gilbert and Troitzsch (2005), Foundations of Simulation Modeling, a simulation model is a computer program that captures the behavior of a real-world system and its input and possible output processes.
Briefly explain what the simulation modeling relies upon?
-500 words at least.
-No Plagiarism.
-APA Format.
.
According to Klein (2016), using ethical absolutism and ethical .docxaryan532920
According to Klein (2016), using ethical absolutism and ethical relativism in ethical decision making can lead to different outcomes. How can moral reasoning about a specific situation differ based on relativism or absolutism? Can you provide an illustration or example of an accounting procedure/situation whose outcome may differ based on absolutism or relativism? Is ethical relativism a more suitable standard within a global IFRS Environment? Why or why not?
at least 250 words
.
According to Franks and Smallwood (2013), information has become.docxaryan532920
According to Franks and Smallwood (2013), information has become the lifeblood of every business organization, and that an increasing volume of information today has increased and exchanged through the use of social networks and Web2.0 tools like blogs, microblogs, and wikis. When looking at social media in the enterprise, there is a notable difference in functionality between e-mail and social media, and has been documented by research – “…that social media differ greatly from e-mail use due to its maturity and stability.” (Franks & Smallwood, 2013).
Provide a page response identifying and clearly stating what the difference are? APA Standard, 2 page response, not including front page and references.
.
According to the Council on Social Work Education, Competency 5.docxaryan532920
According to the Council on Social Work Education, Competency 5: Engage in Policy Practice:
Social workers understand that human rights and social justice, as well as social welfare and services, are mediated by policy and its implementation at the federal, state, and local levels. Social workers understand the history and current structures of social policies and services, the role of policy in service delivery, and the role of practice in policy development. Social workers understand their role in policy development and implementation within their practice settings at the micro, mezzo, and macro levels and they actively engage in policy practice to effect change within those settings. Social workers recognize and understand the historical, social, cultural, economic, organizational, environmental, and global influences that affect social policy. They are also knowledgeable about policy formulation, analysis, implementation, and evaluation. Social workers:
Identify social policy at the local, state, and federal level that impacts well-being, service delivery, and access to social services;
Assess how social welfare and economic policies impact the delivery of and access to social services;
Apply critical thinking to analyze, formulate, and advocate for policies that advance human rights and social, economic, and environmental justice.
This assignment is intended to help students demonstrate the behavioral components of this competency in their field education.
To prepare: Working with your field instructor, identify, evaluate, and discuss policies established by the local, state, and federal government (within the last five years) that affect the day to day operations of the field placement agency.
The Assignment (1-2 pages): (In The States California. The Good Seed is a Drop-In center for 18-25 years!
Describe the policies and their impact on the field agency.
Propose specific recommendations regarding how you, as a social work intern, and the agency can advocate for policies pertaining to advancing social justice for the agency and the clients it serves.
.
According to the authors, privacy and security go hand in hand; and .docxaryan532920
According to the authors, privacy and security go hand in hand; and hence, privacy cannot be protected without implementing proper security controls and technologies. Today, organizations must make not only reasonable efforts to offer protection of privacy of data, but also must go much further as privacy breaches are damaging to its customers, reputation, and potentially could put the company out of business. As we continue learning from our various professional areas of practice, its no doubt that breaches have become an increasing concern to many businesses and their future operations. Taking Cyberattacks proliferation of 2011 into context, security experts at Intel/McAfee discovered huge series of cyberattacks on the networks of 72 organizations globally, including the United Nations, governments and corporations.
From this research revelation in our chapter 11, briefly state and name the countries and organizations identified as the targeted victims?
Use the APA format to include your references. Each paragraph should have different references and each para should have at least 4 sentences.
.
According to recent surveys, China, India, and the Philippines are t.docxaryan532920
According to recent surveys, China, India, and the Philippines are the three most popular countries for IT outsourcing. Write a short paper (4 paragraphs) explaining what the appeal would be for US companies to outsource IT functions to these countries. You may discuss cost, labor pool, language, or possibly government support as your reasons. There are many other reasons you may choose to highlight in your paper. Be sure to use your own words.
Must be in APA format with references and citations.
.
According to the authors, countries that lag behind the rest of the .docxaryan532920
According to the authors, countries that lag behind the rest of the world’s ICT capabilities encounter difficulties at various levels. Discuss specific areas, both within and outside, eGovernance, in which citizens living in a country that lags behind the rest of the world in ICT capacity are lacking. Include in your discussion quality of life, sustainability, safety, affluence, and any other areas that you find of interest. Use at least 8-10 sentences to discuss this topic.
.
According to Peskin et al. (2013) in our course reader, Studies on .docxaryan532920
According to Peskin et al. (2013) in our course reader, "Studies on early health risk factors, including prenatal nicotine/alcohol exposure, birth complications, and minor physical anomalies have found that these risk factors significantly increase the likelihood of anti-social and criminal behavior throughout life." What policy changes might you suggest to help curtail the occurrence or effects of these risk factors? Remember to think about public health policy, not just criminal policy.
.
According to Franks and Smallwood (2013), information has become the.docxaryan532920
According to Franks and Smallwood (2013), information has become the lifeblood of every business organization, and that an increasing volume of information today has increased and exchanged through the use of social networks and Web2.0 tools like blogs, microblogs, and wikis. When looking at social media in the enterprise, there is a notable difference in functionality between e-mail and social media, and has been documented by research – “…that social media differ greatly from e-mail use due to its maturity and stability.” (Franks & Smallwood, 2013).
Q: Please identify and clearly state what the difference is?
Use the APA format to include your references. Each paragraph should have different references and each para should have at least 4 sentences.
.
According to Ang (2011), how is Social Media management differen.docxaryan532920
According to Ang (2011), how is Social Media management different than traditional Customer Relationship Management (CRM)? Define the four pillars of social media (connectivity, conversations, content creation and collaboration) and analyze how each pillar can be used to aid Social Media management. Identify the benefits Social Media management. Provide examples to illustrate each point.
The paper must be 1-2 pages in length (excluding title and reference page) and in APA (6th edition) format. The paper must include the Ang (2011) article in correct APA format.
.
According to (Alsaidi & Kausar (2018), It is expected that by 2020,.docxaryan532920
According to (Alsaidi & Kausar (2018), "It is expected that by 2020, around 25 billion objects will become the part of global IoT network, which will pose new challenges in securing IoT systems. It will become an easy target for hackers as these systems are often deployed in an uncontrolled and hostile environment. The main security challenges in IoT environment are authorization, privacy, authentication, admission control, system conformation, storage, and administration" (p. 213).
Discuss and describe the difference between a black hole attack and a wormhole attack.
.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
Personal development courses are widely available today, with each one promising life-changing outcomes. Tim Han’s Life Mastery Achievers (LMA) Course has drawn a lot of interest. In addition to offering my frank assessment of Success Insider’s LMA Course, this piece examines the course’s effects via a variety of Tim Han LMA course reviews and Success Insider comments.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
The French Revolution Class 9 Study Material pdf free download
Tax Research Memorandum To Bruce Wilson From .docx
1. Tax Research Memorandum
To: Bruce Wilson
From: Tax Accountant, CPA
Date: December 31, 2015
Re: Tax Treatment of Lottery Winnings
Facts
You won $2,000,000 in the state lottery. The lottery pays out
the prize money in 20 annual
installments of $100,000 each. After receiving three $100,000
installments ($300,000), you
sold the remaining $1,700,000 for $1,000,000. You want to
report the $1,000,000 as long-
term capital gain, on which the tax rate is 15%, rather than
reporting it as ordinary income, on
which you would be required to pay your 35% marginal tax rate.
Issue
The issues are (1) whether lottery winnings can be taxed at the
long-term capital gains tax
rate, and (2) whether selling the right to the cash flow from the
winnings for a lump sum after
owning the right to such cash flow for more than one year
qualifies for long-term capital
gains tax treatment.
2. Rule
Lottery rights are not a capital asset, and selling those rights,
even after holding them for over
one year, falls under the “substitute for ordinary income
doctrine, which provides that when a
party receives a lump sum payment as essentially a substitute
for what would otherwise be
received at a future time as ordinary income, that lump sum
payment is taxable as ordinary
income as well.” R.W. Womack v. Comm’r, 510 F. 3d 1295
(11th Cir. 2007).
Analysis
It is well established that Lottery rights are not a capital asset.
Watkins v. Comm’r, 447 F. 3d
1269 (10th Cir. 2006); Lattera v. Comm’r, 437 F. 3d 399 (3d
Cir. 2006), cert. denied, 127 S.
Ct. 1328 (2007); United States v. Maginnis, 356 F. 3d 1179 (9th
Cir. 2004); Davis v. Comm’r,
119 T.C. 1 (2002). Although 26 U.S.C. §1221 defines Capital
Asset quite broadly, and does
not specifically except lottery winnings from the definition, the
11th Circuit has found that
“the statutory definition of capital asset has never been read as
broadly as the statutory
language might seem to permit, because such a reading would
encompass some things
Congress did not intend to be taxed as capital gains.” Womack,
510 F.3d 1295; Maginnis, 356
F.3d at 1181;. All of these decisions are based on the so-called
substitute for ordinary income
doctrine, which provides that when a party receives a lump sum
payment as “essentially a
substitute for what would otherwise be received at a future time
3. as ordinary income, that
lump sum payment is taxable as ordinary income as well.”
Comm’r v. P.G. Lake, Inc., 356
U.S. 260, 265, 78 S. Ct. 691, 694 (1958). Womack, 510 F.3d
1295. The courts have focused
on two significant factors in determining that lottery rights are
not a capital asset and,
therefore, the sale of such asset would not constitute a long
term capital gain:
1. The taxpayer did not make any underlying investment of
capital in return for the receipt of
the lottery right, and
2. The sale of the right did not reflect an accretion in value over
cost to any underlying asset
held by the taxpayer.
The first factor goes to the treatment of the initial distribution
of the winnings and, to quote
the 11th Circuit, “Lottery Rights are a clear case of a substitute
for ordinary income. A lottery
winner who has not sold the right to his winnings to a third
party must report the winnings as
ordinary income whether the state pays him in a lump sum or in
installments.” 26 U.S.C.
§165(d). As to the second factor, the court focused on the
difference between lottery rights
and “the typical capital asset,…shares of stock. [In the case of
stock], the taxpayer makes an
underlying investment in the stock, owns the shares for longer
than a year, and then sells
them at a higher price. The gain represents an increase in the
4. value of the original investment.
Lottery rights involve no underlying investment of
capital…[and] gain from their sale reflects
no change in the value of the asset. It is simply the amount [the]
taxpayers would have
received eventually, discounted to present value. Furthermore,
when a lottery winner sells
lottery rights, he transfers a right to income that is already
earned, not a right to earn income
in the future. A capital asset has the potential to earn income in
the future based on the
owner’s actions in using it. Lottery winners, by contrast, are
entitled to the income merely by
virtue of owning the property.” Womack, 510 F.3d 1295.
Conclusion
Based on the analysis above, it is clear that, notwithstanding the
sale of the remaining
payments for a lump sum after owning them for more than one
year, you will have to pay
income taxes on the $1,000,000 at your 33% marginal rate. Any
other action will ultimately
result in your owing interest and penalties to the IRS.
Doctor Bones prescribed physical therapy in a pool to treat Jack
Borden’s broken
back. In response to this advice (and for no other reason), Jack
built a swimming
pool in his backyard and strictly limited use of the pool to
5. physical therapy. Jack
paid $25,000 to build the pool. Jack consults you for advice
concerning whether
this amount or any portion of the amount would qualify as a
deductible medical
expense on his federal income tax return.
Research the tax law and write Jack a brief memo of no more
than two pages, in
which you communicate the results of your research. Use the
format for
communicating research findings modeled in the Sample Tax
Research
Assignment with the Sample Tax Research Memo, which can be
found under Tax
Research in the Course Table of Contents. Identify relevant
statutory, regulatory,
and judicial authorities and discuss how these authorities affect
your conclusion
concerning the deductibility of the pool construction costs as a
medical expense on
Jack’s federal income tax return.
6. ACCT 323 7980 INCOME TAX I (Spring 2016)
WEEK 4 HOMEWORK
1) In the current tax year, Gunther earned $125,000 from his
job as a civil engineer. In addition,
he received $30,000 of income from Activity A, and lost
$40,000, and 20,000 from Activities B
and C respectively. Activities A, B, and C are passive activities
that Gunther acquired in the
current year. What amount of loss may Gunther deduct on his
current year taxes with respect to
each activity? What amount of loss, if any, must be carried
over to the subsequent year for each
activity?
2) During the current year, Beth and Bill, who file a joint
return, incurred the following items of
income and loss:
Salary $ 130,000
Activity A (passive) 10,000
Activity B (rental real estate/nontrade or business) (30,000)
Activity C (rental real estate/nontrade or business) (20,000)
Beth and Bill actively participate in activities B and C, and they
7. own 100% of each rental
property.
a) What is their AGI for the year?
b) What is the amount of suspended losses, if any, that may be
carried over with
respect to each activity?
3) In the current tax year, Neil’s personal automobile was
totaled in a traffic accident. Neil had
purchased the automobile two years earlier for $28,000. The
FMV of the automobile just prior
to the accident was $18,000. The automobile is now worthless.
Neil received a $14,000
insurance check in settlement of his accident claim. Later that
same year, a thief broke into
Neil’s home and took several antiques purchased several years
ago for $8,000. Their current
FMV at the date of the theft was $12,000. The antiques were
not insured. Neil’s AGI for the
current year is $60,000. What is the amount of Neil’s
deductible casualty loss in the current
year?
4) In 2013, Sarah loans Seymour $5,000 for his use in
establishing his business. As Seymour
8. has no other assets and needs cash to establish the business, the
loan agreement provides that
Seymour will repay the $5,000 debt to Sarah with interest at the
prevailing rate over a five-year
period. Seymour’s business is unsuccessful, and he files for
bankruptcy in 2014. By the end of
2014, it is estimated that Seymour’s creditors will receive only
20% of the amount they are
owed. In 2015, the bankruptcy proceedings are closed, and the
creditors receive 10% of the
amount due on Seymour’s debt obligations. What is Sarah’s
bad debt deduction for 2014? 2015?
How is Sarah’s bad debt deduction, if any, characterized?
5) During 2015, Kiran, a single taxpayer, reported the
following income and expense items
relating to her interior design business:
Revenues $52,000
Cost of Goods Sold 41,000
Advertising 3,300
Office supplies 1,700
9. Rent 13,800
Contract labor 28,000
Kiran also worked part-time during the year, earning $13,500.
She reports a long-term capital
gain of $4,200, and a short-term capital loss of $3,800. Her
itemized deductions total $5,200.
a) What is Kiran’s taxable income or loss for the year?
b) What is Kiran’s NOL for the year?
6) Brandy is a self-employed consultant who solicits business
from numerous clients and
receives consulting fees as income. During the current year,
Brandy incurred the following
expenditures:
Airfare & lodging while away overnight $ 4,000
Business meals while traveling at which business was discussed
1,000
Local business transportation costs for automobile, parking &
tolls 2,000
Commuting expenses 1,000
Local entertainment of clients 2,000
Total $ 10,000
10. a) Which of the expenditures listed above, if any, are
deductible by Brandy?
b) Which of the above items are classified as For AGI and
From AGI deductions?
c) How would your answers to parts (a) and (b) change if
Brandy were an employee
rather than self-employed and none of the above expenditures
were reimbursed by her
employer?
7) On February 20, 2015, Charles, who is single and age 32,
establishes a traditional
deductible IRA and contributes $5,500 to the account. Charles’
AGI is $66,000 in 2014 and
$57,000 in 2015. Charles is an active participant in his
employer’s retirement plan.
a) What amount of the contribution is deductible? In what
year is it deductible?
b) Is the deduction For AGI or From AGI?
c) How would your answer to part (a) change, if at all, if
Charles were not an active
participant in his employer’s retirement plan?
11. d) How would your answer to part (a) change if Charles were
married and filed a joint
return with his spouse, who has no earned income, assuming
their combined AGI is
$85,000? What would be their maximum IRA contribution
deduction?
8) Joe and Jean have five grandchildren, ages 19, 16, 15, 12,
and 10. The have established
Coverdell Education Savings Accounts (CESA) for each of the
grandchildren and would like to
contribute the maximum amount allowable to each CESA for the
2015 taxable year. Joe and
Jean’s AGI for 2015 is $196,000.
(a) How much can Joe and Jean contribute to each grandchild’s
CESA in 2015?
(b) Assume that the 19-year-old granddaughter is a freshman
in college and makes a
withdrawal of $7,000 from her CESA during the year 2015.
Her college expenses for
2015 were as follows:
Tuition $1,500
Room & board 2,500
Books & supplies 500
12. The extra amount withdrawn was used as a down payment on
an automobile that the
granddaughter purchased during the year. She needed the
automobile to drive to school
rather than to ride the bus. What are the tax consequences of
the $7,000 distribution to
the granddaughter?
9) Roger is a cash basis self-employed air-conditioning
repairman with current year gross
business receipts of $20,000. Roger's cash disbursements were
as follows:
Air conditioning parts $ 2,500
Yellow Pages listing 2,000
Estimated federal income taxes on self-employment income
1,000
Business long-distance telephone calls 400
Charitable contributions 200
What amount should Roger report as net profit or loss on
Schedule C of his 2014 Form 1040?
13. a. $15,100
b. $14,900
c. $14,100
d. $13,900
10) Robert Corp. granted an incentive stock option for 200
shares to Beverly, an employee, on
March 14, Year 12. The option price and FMV on the date of
grant was $150. Beverly exercised
the option on August 2, Year 14, when the FMV was $180 per
share. She sold the stock on
September 20, Year 15, for $250 per share. How much gross
income did Beverly recognize in
Year 12?
a. $30,000
b. $150
c. $0
d. $20,000