The Effect Of Legalizing Prostitution On The Economy

The Effect of Legalizing Prostitution on the Economy
The Effect of Legalizing Prostitution on the Economy
Our Nation has been under immense fire lately. This is mainly because Americas Government is over a trillion dollars in debt. We are in one of the
worst recessions that America has ever been and in danger of creating a double dip recession. Jobs are nowhere in sight. People continue to get laid
off and even worse people who have been laid off are losing their unemployment benefit. The unemployment rate is through the roof and nobody can
find a job to support their families. Because of this banks are failing, houses are being foreclosed on and the American Dream is becoming further and
further out of reach of younger generations. So while the government is continuing to go into ... Show more content on Helpwriting.net ...
What we need to do is create jobs and create a more creative way to tax people to obtain the funds needed to pay down the national debt. Why is the
national debt so important? Because everyday our dollar becomes worth less and less on the global market. And the more this keeps happening more the
United States globally economy begins to be hindered instead of just nationally within its own borders. Legalizing prostitution is not something that
is going to happen overnight and I'm not saying that it should be either. There are a lot of things that need to be ironed out. And legalizing
prostitution does not make our country corrupt. We would no longer have to have people hanging out on a street corner in promiscuous outfits; it
could become a tasteful business. Think of the crime that we could eliminate in areas such as Las Vegas and Atlantic City. This could even help
create a rebirth for Atlantic City which has slowly been going under since the recession began. Our ultimate goal as a country is to avoid a
depression like that of 1929. We need to pull ourselves together and be the mega country in the global economy. We should create a new faith in
people with their jobs, home, banks and overall government. We can't have people questioning government tactics but rather stand as one and support
every decision. And when people say that legalizing prostitution is not a good idea, because you know there are always going to be
... Get more on HelpWriting.net ...

What Is Fin 48?
What is FIN 48?
In 2006 Fin 48 was made effective as proper guidelines to require publicly traded organizations to assess the probability of tax positions. This
mandates that organizations analyze and report any income tax risks. Some refer to this as "the road map of things to audit for as these reports will
largely influence who the Internal Revenue Service will audit.
At the beginning of November in 2007 the Statement of Financial Statements (SFAS) board decided to postpone the enactment of FIN 48 financial
reporting and accounting and income taxes until later that year on December 15, 2007. The purpose of FIN 48 is to force public companies to analyze
companies tax positions and evaluate the probability that their tax position will ... Show more content on Helpwriting.net ...
This interpretation of an organizations tax position as a result of FIN 48 is a process that involves two steps, one being recognition and two being
measurement. In step one the organization determines how likely it is that their stated tax position will be maintained after being audited. This
includes resolving any discrepancies, checking for accuracy, filing for any appeals and conducting an internal audit. While reviewing their tax position
if their tax position will meet set guidelines the organization should already assume that their financial statements and tax position will be audited by a
relevant taxing agency that will have the necessary knowledge and skill set to accurately audit all documents. Throughout step two a tax position that is
more likely to be reviewed will determine the amount of the benefit to recognize in the financial statements. The tax position is measured at the largest
amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement.
Differences between tax positions stated in a tax return and amounts recognized in the financial statements will usually conclude with the following:
1.An increase in a liability for income taxes payable or a reduction of an income tax refund receivable
2.A reduction in a deferred tax asset or an increase in a deferred tax liability
3.Both
An organization that provides a classified statement of financial position

Case Study : Home Sale Gain Exclusion
Laurence Smith– Home Sale Gain Exclusion
Take Advantage of the Home Sale Gain Exclusion
If you sold your home last year, Laurence Smith and his associates at Book 2 Tax want you to take advantage of the Home Sale Gain Exclusion. Their
knowledgeable staff of accountants and Tax Preparers understand the rules related to this tax event, and can work to get you the largest refund
possible. Filing an income tax return can be complicated, especially if you are found to have made money on the sale of your home. To avoid
overpaying on your taxes, find a tax professional who understands the details of the Gain Exclusion.
What is a Capital Gain?
The term capital gain is often associated with the wealthy or corporate entity. However, every single tax payer can receive a capital gain. Whenever
you sell an item for more than you paid for it, you are earning a capital gain. That gain, the amount of money you made on the transaction, is subject
to the capital gain tax. This means that the government has the right to tax a percentage of that money you earned. The sale of many different items
can result in a capital gain, including stocks, investments, personal property, and homes or residences. As an example, if you purchase a used car for
$1,000 and then sell that car for $5,000, you have made a capital gain of $4,000. However, any fees you paid toward that vehicle will be considered. If
you restored the car, spending $2,000, that amount is decreased from your total capital gain amount.

Income Tax Refund
Income tax refund may take longer this year
Many people in the city did not receive their income tax refund amount, and they are unable to find the reason.
The income tax administrator said that there are two reasons why the taxpayers did not receive their tax refund. There are many taxpayers who are still
working on their income tax return form, the manual filling of the income tax form take more time than the e–filling. The other reason is, the income
tax officers are examining the tax forms that claim more refund amount.
The income tax administrator, John Schaut said that the analysis of the income tax forms for this year takes longer time because many taxpayers
claimed for higher dollar refunds. And the officers from the income tax department

Impact Of Participating During The Vita Program At Umd
Impact of Participating in the VITA Program at UMD.
"Take a minute: look at your goals, look at your performance, see if your behavior matches your goals."– Kenneth H. Blanchard, The One Minute
Manager. The first thing I learned while taking BMGT 398A was to set goals for my performance at the beginning of my internship, and reviewing
them throughout the semester to make sure I was working toward meeting those goals. Participating in the Volunteer Income Tax Assistance (VITA)
program at the University of Maryland allowed me to not only apply what I have learned in business courses, but it also helped me expand my
teamwork and customer service skills. There seems to be a consensus among accounting professors and scholars that the VITA... Show more content on
Helpwriting.net ...
Participating in the VITA program has encouraged me learn more about taxation and possibly pursue a career in that field. In fact, next semester I will
be taking Taxation of Corporations, Partnerships, and Estates (BMGT 417).
Setting learning goals, strategies, and achievement measures at the beginning of the semester helped me gain the most out of the VITA program. One
of my learning goals was to learn how to complete resident and nonresident tax returns; my strategy for this goal was to complete 5 resident and 15
nonresident tax returns. During the first week of the program, I learned how to complete nonresident tax returns and apply available tax treaties to
customers from applicable nationalities. By the end of the program, I completed 5 resident returns and 10 nonresident returns. Additionally, I reviewed
10 tax returns that were completed by other volunteers.
After gaining experience completing various tax returns during the first week of the VITA program, I was elected to become a team leader for the
remainder of the program. This was a little scary at first as I did not expect to be placed in a leadership position when I joined the program. Nonetheless,
becoming a team leader helped me develop my team management skills, which became one of the learning goals I set in the learning contract. At the
beginning of every shift, I reached out to team members to see whether they were working on a current client and if they needed any

Budget Example Analysis
Introduction
–In the wake of the dot–com industry's collapse, the steep stock market drop, the rise of the dollar against foreign currencies, increased unemployment,
and other economic factors, March 2001 officially began a nationwide recession that triggered budget problems in at least forty–five states.
–The 2001 recession was the fourth recession in 30 years. After past recessions budget experts recommended establishing a "rainy–day fund" (saving
funds during boom times in order to cushion the shocks of economic busts). Wisconsin established the fund but never put money into it.
–During the 1990–1991 recession Wisconsin's fiscal stress was ranked the lowest among the 50 states. During the 2001 recession Wisconsin was
among the ... Show more content on Helpwriting.net ...
European and some of the Far East economies were growing slowly or were in a recession before the U.S.
Remedies Proposed and Implemented
–During a deficit lawmakers have four options.
–They can raise taxes, cut spending, employ a combination of both, or employ a method of "creative bookkeeping".
–The required spending cuts might have been reduced if the lawmakers could have drawn from a Rainy Day Fund.
–The other option was to tap into the tobacco settlement money that the state was supposed to get over a 30 year period, the lawmakers decided to
draw heavily from this fund.
Remedies
–Act 16, the 2001–2003 biennial budget bill was passed in August of 2001 contained five major initiatives. –5 percent cuts to state agency budgets
–delays in staffing new prisons –use the proceeds from the sale of tobacco settlement agreement revenue bonds –reallocation of federal transfer
revenues to support state medical assistance funding –"extraordinary accounting devices...employed to ensure a positive budget balance
–"High–priority programs" were exempt from budget reductions (these included assistance to the poor, disabled, and the elderly, funding of K–12
schools, medical assistance, the court system, and public defenders).
–Three largest elements that remained to tax were the University of Wisconsin System, Shared Revenue Fund, and corrections.
Consequences
–Groups that were helped by these tax breaks were anti–tax

How Do I Save For Education?
How Do I Save For Education? By Joe Barbieri | Submitted On December 01, 2013 Recommend Article Article Comments Print Article Share this
article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share
this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Joe Barbieri The cost of
education has risen steadily over the past 20 years. This would include post–secondary education, but also private school and alternative schools. Since
the workforce has become so competitive, more education has constantly been touted as the solution to assuring a good paying job. It is a moving
target because the world of work is changing rapidly, and a degree of 5 years ago may be obsolete today. Since the cost of education has risen so
quickly, the payoff from getting a good education is getting smaller and more risky. Interest on student loans is also getting more expensive simply
because it takes longer to pay them off. What Do You Need? Given this backdrop, how do you save for an education? This could be for your child
or for yourself, since many adults have to go back to school due to job market instability or career change. There are some key points to keep in mind.
What kind of education is needed? If you have done your homework, you may find that education may not cost as much as you thought, or you don 't
need as much

A Experiment On The Geologic And Field Reports
To begin building the model I had to input all of the necessary reservoir parameters for the field. This was accomplished via the geologic and field
reports that I currently have access to. Within the CMG program I went to the array properties and created information for the initial model size
like the sample below (Figure 1.1.) I also had to define the exact lithology I was operating in via the compressibility tab (Figure 1.2) Our Reservoir
is also semi supported by a weak aquifer at the base of the formation so this was input into the model as well (Figure 1.3) The next step that I
conducted was in creating a fluid model that would be utilized. Based upon the current observations and fluid tests from the field the model can be
called a black oil model and thus that form of fluid was utilized. There is currently no exact fluid compatibility tests that have been performed in the
region so we will operate with the base model without any operations now for the initial simulation (Figure 1.4) Next the rock fluid compatibility of
the model was created from the above mentioned fluid compatibility to get relative permeability curves and other fluid components in order to create
an even more accurate model (Figure 1.5–1.6) Next the conditions of our reservoir needed to be input into the model to represent our current
conditions and the past production from the field. As the reservoir is relatively depleted already at this point we will lower the reservoir pressure and
also adjust

Case Study: Guaranteed Installment Agreement
Individuals in [City] who find it hard to pay their debts had been offered by IRS to fund their taxes via installments. This form of payment is agreed
upon for those who have difficulty in paying their debts because of financial issues or working in minimal salary and lacking of funds for a complete
payment. IRS installment has four categories to select from. Guaranteed Installment Agreement A taxpayer in [City] should conform to the conditions
the IRS has enforced for you to acquire an installment agreement. He or she need to have the following: A debt absolutely not raised above $10, 000
not including the interest and penalties from tax.
The taxpayer does not have any record of past due taxes for the first five years and is also not enrolled to an installment commitment formerly. ... Show
more content on Helpwriting.net ...
The taxpayer has the potential to pay off the minimum payment per month. Streamlined Installment Agreement A [City] taxpayer who had been
identified as qualified in the guaranteed installment agreement is passed straight away in the set of guidelines for this kind of IRS installment
settlement. In this set up process, the taxpayer has to abide the prerequisites below to be approved: The tax, together with the total interest as well as
penalty charges shouldn't be more than $25,000.
The tax has to be completed in 5 years.
The suggested payment must be higher than or equal to the smallest total

Getting Fast And Reliable E Filing Software And Services
Get fast and reliable e–filing software and services
US legal pro; Jan 22, 2015, Get on often forking in excess of taxes be acquainted with fine how it is lengthy as well as difficult to accomplish taxes.
At present, by means of the software and internet as ProDoc, you be able to easily put jointly taxes online as well as file digitally duty return as of
your home. Functioning income tax on top of the internet is a great deal simpler in contrast to the official paper submitting. While it comes to about
taxes, you require obtaining your taxation set frequently by a specialized tax preparer or else you be able to do your individual taxes alone by means
of online tax software plans. For the individual by means of much easier tax form, going for on–line income tax usually is set–up and faster. You be
able to seek out the greatest tax foundation and e–filing items as well as services that are able to make your procedure simpler and faster.
You are able to perform the taxes by way of Income Tax going online; which gives totally at no cost federal income tax arrangement and in addition
e–filing tax return facilities. Their tax preparing software as ProDoc program is absolutely a accessible which you merely need to stick to its bit by bit
technique and your duty are prepared. Their comprehensible interface brings you with straightforward levy forms which you are able to fill up readily
supplying vital tax corresponding details questioned through the program. Furthermore, you can

Essay on Solving the Foreclosure Crisis
The frequency of foreclosure in our nation today is dangerously high. The strain from the recent economic downturn has put many families and
individuals in a financial chokehold preventing them from being able to make their monthly mortgage payments. Consequently, many of these people
feel they've punched a one–way ticket to foreclosure. With all these homes being foreclosed on, we face a very real crisis.
The best way to solve this foreclosure crisis is preventing homes from foreclosing one house at a time. The American family needs a simple option to
save their home. My solution is based upon the concept of the homeowner paying what they are capable today, with a long term solution for the
homeowner to repay the entire debt eventually. ... Show more content on Helpwriting.net ...
The simple solution is to reduce the home owner's monthly payment to an amount they can afford, by reducing the size of the loan balance. The
framework would be as follows:
Government stimulus funds are applied to pay down the owner's home loan to the bank with two caveats. First, the bank must re–amortize the
payments on the lower loan amount; second, the government funds become a filed lien (second mortgage) on the home. This is a RELIEF loan.
1.This program is open to every low, moderate, and high income family
2.All participants must file a full tax return each year
3.The amount of the government RELIEF loan cannot exceed 40% of the home's tax– assessed value , or $100,000 maximum
4.Government loans are repaid through the following:
п‚§Apply IRS refunds to the balance
п‚§Allow 401K withdrawals without penalties to be applied to the balance
п‚§Apply a set percentage of federal entitlement money to the balance (Possibly 15%)
п‚§Apply proceeds from the future sale of the home to the balance (Any remaining balance becomes an unsecured loan)
5.The RELIEF loan is interest free for first five years. The interest rate for the remaining years will be nominal (Possibly 2%)
EXAMPLE
Take a typical family of five that purchased their house in 2007 at the median house price in Portland, OR of $295,200. With a typical home loan of
6% interest rate over 30 years, they are making monthly principal and interest payments of $1681. After two years, they now

Tax File Memorandum Essay
Tax File Memorandum To:Peaceful Pastures Funeral Home From:Whomever Date:2/17/2013 Re:Peaceful Pastures Tax Payer Engagement
Confidential I SPOKE WITH PEACEFUL TAX PAYER ABOUT THE AUDIT NOTICE THE IRS HAD SENT. IT CONTENDS THAT THE
AMOUNT PREPAID UNDER PEACEFUL'S PROGRAM CONSTITUTES PREPAID INCOME THAT MUST BE INCLUDED IN PEACEFUL'S
INCOME (AND THEREFORE SUBJECT TO TAX) IN THE YEAR IN WHICH IT IS RECEIVED. THE TAX PAYER WANTED TO KNOW IF THE
IRS FINDINGS WERE CORRECT.
FACTS: Peaceful, an accrual basis taxpayer, provides a full line of funeral services and sells goods related to those services. Peaceful has attempted to
design an ... Show more content on Helpwriting.net ...
properly reported monies received for Massachusetts regulated pre–need funeral service contracts in year services were actually rendered, rather than in
payment year as IRS contended: following Supreme Court precedent, payments were refundable deposits, not advance payments, where contracts
contained open–ended cancellation and refund rights that left taxpayer without complete dominionand control over funds. Notably, under contracts'
plain language and pursuant to Massachusetts regs], customers controlled whether or when refund would be made; and fact that cancellation/refund
rights were rarely exercised was irrelevant.
Because Peaceful were receiving prepaid income they will have to pay taxes on the prepaid sales that were being made within 1 year of the sale.
The Internal Revenue Code imposes a Federal tax on the taxable income of every corporation. Sec. 11(a). Section 61(a) specifies that gross income
for purposes of calculating such taxable income means "all income from whatever source derived". Encompassed within this broad pronouncement are
all "undeniable accessions to wealth, clearly realized, and over which the taxpayers have complete dominion." Commissioner v. Glenshaw Glass Co.,
348 U.S. 426, 431 [47 AFTR 162] (1955). Stated otherwise, gross income includes earnings unaccompanied by an obligation to repay and without
restriction as to their disposition. James v. United States, 366 U.S. 213, 219

Advantage Of Pizza Hut
Introduction
The purpose of this report will tell us how Pizza Hut became popular. And how it started its very first business in Wichita, how they expanded their
business in London and why is it so famous now in the world. The following paragraph will share with you the background information about Pizza Hut
and the country London.
Company background
Pizza Hut started in 1958 in Wichita USA, when two brothers, Frank and Dan Carney opened the world's first Pizza Hut by borrowing six hundred
dollars from their mother. In 1973, Pizza Hut came into the UK. That was the start of Pizza Hut and it has now the biggest pizza name in the world.
Now, it has over seven hundred outlets in London and it is still the best pizza in town.
Country background ... Show more content on Helpwriting.net ...
Overall, competitive in the industry is high. Domino's Pizza and Papa John are some of the big company that Pizza Hut competes with. And all of them
have very similar business pattern, engage in international business, fast food franchise, delivery service and dine–in which creates intense competition.
Pizza Hut also competes with small pizza restaurant as they offer faster service and lower price products, which can be a disadvantage for Pizza Hut.
Threats of new entrants, LOW. Now, Pizza Hut is facing the effect of a deep recession due to more competition, high ingredient costs and slim margins.
However, existing competitors keep giving discounts and lowering their product prices which create barriers to the entrants as well. Also, they have
mature technology and relationship with different distribution channels. Therefore, current competitors have a first mover advantages.
Threats of substitutes, HIGH. There is a high availability of substitutes for quick pizza restaurants. Pizza Hut mainly provides pizza which has various
substitutes, such as spaghetti, baked rice and sandwiches etc. like all other pizza restaurants offer, fast, convenient and cheap products and services as
well. The price competition is the threat of substitutes. They are more elastic since customers have more

Tax Refund: Invest My Tax Return
If you are owed a tax refund from the government, it can be tempting to fritter away your money on things you may not really need. Extravagant
vacations, an expensive trip to the casino, and buying unnecessary things may provide immediate gratification, but are not good ways to spend your
hard–earned money. Cheryl Hawkins, an experienced CPA at Cheryl HawkinsTax and Accounting in Jordan, MN, explains some smart ways to use
your tax return:
Invest Your Refund: Invest your tax return to maximize the money you receive. Adding your return to your 401(k), opening an IRA and funding it with
your return, or investing the money in a college savings plan is an excellent way to invest in your family's future.
Save For The Future: Use the extra

The Strengths Of District Assessment
Dr. Myers gave me the state aid formula as the total district assessment times 0.025 times 98% plus miscellaneous funds divided by ADM (Average
Daily Membership). The district obtains its money through federal, local, and state funds. However, he did not share these amounts with me.
Through looking at reports on our schools website, I determined that our local revenue was $1,875,000, state revenue was $1,395,105, and federal
revenue was only $365,783. The general strengths of the district funding is through local revenue collection. Our local collection is very high. Our
district receives roughly 55% of its funding from local taxes, which is higher than the state average of 35%. We do not have a ton of businesses,
however our property... Show more content on Helpwriting.net ...
He handles every requisition to ensure that our districts money is being spent purposefully. Also, he added, that he accepts responsibility for any
misuse of funds. The principals in our district do not have guidelines for budgeting, because they do not have a budget. If a principal has a need,
first they have to justify why and then Dr. Myers will assess if the district has the money. However, the principals are required by the state to attend
tier 1 APSCN (Arkansas Public School Computer Network) training yearly. The only other need of the principal, according to our superintendent, is
the ability to say "no" when it comes to spending money. However, he also expects the principals to find other options if the district cannot afford to
make the purchase that is needed. The state requires APSCN as the accounting system required in our school. He included that we use eSchool and
eFinance software under that program also. Dr. Myers strongly believes that computers have a positive effect on the districts accounting and
budgeting. He stated that computers make it easy to keep and share documents. He also regularly uses formulas to help figure the budget, which he
says saves him a lot of time. The overall process of estimating revenues and expenditures comes relatively easy for Dr. Myers, he says due to the fact
that our business manager has been with the

The Financial Accounting Standards Board
Almost 10 years ago on July 13, 2006, FASB, the Financial Accounting Standards Board issued FIN 48 the Accounting for Uncertainty in Income
Taxes. FIN 48 is also known as Interpretation No. 48 that became effective during December 2006 fiscal year. It explains the uncertain tax positions
regarding the calculations and disclosures of reserves in the Statement No. 109 of the FASB. The purpose of the FASB Interpretation No. 109, also
referred to as, FIN 48, clarifies uncertainty in income taxes recognized by FASB Statement No. 109. The Statement does not recognize a threshold or
measures the contribution for the financial statements. Accounting for income taxes (No. 109) is used for business enterprises. Also, it is applicable to...
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There are several outcomes of a tax position. First, the permanent reduction of income taxes payable. Next is the deferral of income taxes otherwise
currently payable to future years. Lastly, the change in the expected realized of tax assets.
"As a result of applying this Interpretation, the amount of benefit recognized in the statement of financial position may differ from the amount taken or
expected to be taken in a tax return for the current year. These differences represent unrecognized tax benefits, which are the difference between a tax
position taken or expected to be taken in a tax return and the benefit recognized and measured pursuant to this Interpretation. A liability is created, or
the amount of a net operating loss carry forward or amount refundable is reduced, for an unrecognized tax benefit because it represents an enterprise's
potential future obligation to the taxing authority for a tax position that has not recognized pursuant to this Interpretation." (Financial Accounting
Series No. 281–B, 2006 p. 5). An entity's tax position could be classified by more than one way. One way for the entity's tax position to be described
is their decision not to file a tax return (FASB, 2006). The next potential classification is the allocation or a shift of income between jurisdictions
(FASB, 2006). The third classification is the characterization of income or a decision to exclude reporting taxable income in a tax return (FASB, 2006).
Lastly, the decision to

Tax Memorandum 1
May 3, 2010
Tax File Memorandum
Subject Peaceful Pastures Funeral Home Incorporated prepaid income treatment.
Facts
Peaceful Pastures Funeral Home Inc. is an accrual basis taxpayer who sells prepaid goods and services to clients that will be provided for them at the
time of their death. Goods and services are refundable upon the purchasers request at any time until the contracts are fulfilled. Peaceful Pastures Funeral
Home Incorporated is in need of determining the period of recognition for income provide from a prepaid service for which they are an accrual basis
taxpayer.
Issue
Does Peaceful Pastures Funeral Homes Inc. realize prepaid income in the period in which it was received or can Peaceful realize the income in ... Show
Rev. Rul. 72–519, 1972–2 Cum. Bull. 32 "Deposits intended to secure income–producing covenants are advance payments taxable as income upon
receipt, while deposits intended to secure non–income–producing covenants are not." From the information not given it appears that the funds received
were comingled with the direct funds of Peaceful and Peaceful had the right to exercise the funds as Peaceful sees fit. There is no mention that these
funds were kept separate or in an escrow designated for the sole purpose of being a deposit. Furthermore the prepayments were specifically made in
conjunction of securing future goods and services and not in the express obligation of return of funds.
Secs. 1.446–1(c)(1)(ii), Under the accrual method, income is to be included for the taxable year when all events have occurred that fix the right to
receive the income and the amount of the income can be determined with reasonable accuracy. 1.451– 1(a), Income Tax Regs. Typically, all events that
fix the right to receive income have occurred upon the earliest of the following to take place: The income is (1) actually or constructively received;
(2) due; or (3) earned by performance. When Peaceful receives prepaid income it has constructively received payment for further goods and services
and the income

Federal Tax Refund Check Essay
A common question heard at tax time is "how long does it take to get my refund back?" Consumers, especially those struggling in tough economic
times, look forward to the financial boost that a tax refund gives. The good news is that the IRS provides the necessary tools that make finding the
status of a federal tax refund check just a mouse click away. With state refund checks however, it's a little trickier since you have to know which state
agency controls the tax return process. In this article, we'll guide you through the IRS's guidelines for when how long the refund check should take, and
review the proper channels for getting both federal and state tax fund questions answered.
Federal Tax Refunds
How you file your taxes, via either ... Show more content on Helpwriting.net ...
The direct deposit method, not surprisingly, is always the quicker option. The Federal 1040 form contains a section where consumers can opt for a
direct deposit. If you want the IRS to electronically deposit your refund into more than one account you will need to file a separate form 8888.
How to Check on Your FederalTax Refund
For anyone wanting to check the status of their tax refund, simply go to the IRS's Where's my refund (irs.gov/individuals/article/0,,id=96596,00.html)
webpage where you'll find an easy to use tool to request the information. If you would rather check the refund status by phone, you may call
1–800–829–1954. The IRS asks that you wait 3 days after filing electronically, or 3 weeks after mailing a return before checking for a status update.
For those who file an amended return, however, the period to receive a refund check will take 8–12 weeks.
Tips on Ensuring a Quick Refund
By eliminating mistakes, consumers can ensure that their refund is received in as timely a fashion as possible. The most common mistakes, which can
cause delays in receiving a refund, are listed

The Pros And Cons Of Casino Gaming
When it comes playing casino games from slots to poker, players and casino regulars have one over–riding objective– to win the game and the jackpot.
Who wouldn't want to win beat other players and the casino, and fetch massive jackpots along the way? Unfortunately, this is not always the case for
players who take on the challenge of casino games. In casino gaming, losses are natural, and there's a big chance that one loses than wins big. Failure
to win every single spin or game online is not an excuse to stop playing casino games, thanks to the random number generators and the promise of
jackpots. But there is one more thing that can motivate players to play more even if they lose some games along the way– the casino's cash back refund.
If ... Show more content on Helpwriting.net ...
Under this example, the casino has set a 'cap' on the maximum amount that can be given back by the casino. The casino will still base the allocation
based on a percentage, but will only offer up to EUR 50. Any amount in excess of the amount will no longer be honored by the casino.
Other Rules to Keep in Mind When Using Cashback Refund
Aside from the cap that can be placed by the casino operator, there are other specific rules that should be considered. For example, some casinos will
require players to meet a certain amount of lost money before they can avail of this bonus program. These casinos will require a 'minimum loss' for
players to qualify for the program. Other casinos will also set a rule that these losses should be in games identified by the casinos. Before joining or
attempting to claim this bonus, it is advised that players should read first the Terms and Conditions, and ask for technical support, when necessary.
Claiming the reward is also subject to casino rules, as indicated in the Terms and Conditions. Depending on the casino operator, players may have to
wait for a few days or after 24 hours before the cash or bonus money can be reflected in the account. If the bonus fails to reach the account, players are
advised to contact

Essay On Immigration
Preparations Before Relocation: One of the more important aspects of working in Australia as a foreign worker would be acquiring the appropriate
visa so that one may legally reside in Australia. When considering which visa would be appropriate, 'Temporary Work (Skilled) visa (subclass 457)'
and 'Employer Nomination Scheme (subclass 186)' are two visas that may be suited to this situation. 'Temporary Work (Skilled) visa (subclass 457)' is
a visa that will allow an individual to reside in Australia for up to four years working in a position nominated by an approved business. Applicants have
to be sponsored by an approved business. The alternative of 'Employer Nomination Scheme (subclass 186)' has additional qualification requirements in
... Show more content on Helpwriting.net ...
Similar to the United States' dollar, Australia has both banknotes and coins. Considered easier to tell apart than some other currency due to
differences in size and color, Australia money denominations begin at 5в‚µ and rise to $100. The $5 note is light pink, the $10 note is blue, the
$20 note is orange, the $50 note is mustard yellow, and finally the $100 note is green. Featured on the banknotes are important Australian figures
such as the first female member of Australian parliament, Edith Cowan, and the founder of the world's first air ambulance, John Flynn. Conversely,
the coinage of Australia comes in only two colors of silver and gold as well as featuring iconic animals and plants of Australia. Denominations of
coins go from 5в‚µ to $2. As Australia doesn't have 1в‚µ coins, prices are rounded at the register to the nearest 5в‚µ (Rivera, 2017; Currency, n.d.). As
with any major relocation, there is a culture shock of some sort. This is generally true whether someone is moving from one country to another or
simply from one state to another. There are a few major concerns with relocating to Australia. Some of these include the hot weather, socialization, and
egalitarianism. It's noted that the UV index in Australia is always high, so sunscreen is always recommended. Australia is also known to be a friendly
country that values equality and fair distribution of work. Within Australia, people are

Essay about Determining Assessable Income
Introduction.
Individuals thrive off producing income in order to meet their day–to–day needs and wants. Tax is imposed on these income producing activities to
provide the government revenue. This involves identifying the various ranges of assessable income. The legal question which must be addressed is any
of the income that was earned by these individuals assessable income under the Australian income tax assessment act? To answer this question, we must
determine if a nexus exists between Australia and the person(s) being taxed by applying the concepts of Residency, Source and Derivation.
1. Residency.
Residency is important because it is the basis as to how the government will tax individuals.
S6–5(2) and s6–5(3) ITAA97 states ... Show more content on Helpwriting.net ...
In this case, the taxpayer was a Greek national resident in Australia employed by a Greek Press and Information Service located in Sydney which
was an instrumentality of the Greek Ministry of Foreign Affairs. A position in Greece was applied for but was not appointed until after she had
migrated to Australia. She became a permanent public servant of the Greek Government upon taking up the position and behaved as a consulate
employee. Her income was subject to tax in Greece. The Greek Government forwarded her salary to the Sydney office after deductions had been made
for tax and superannuation.
It was held by the court that according to s.23(q) of the Income Tax Assessment Act 1936 the income of the taxpayer was derived from a source within
Australia, as such, would be subject to Australian taxation laws.
The taxpayer in this instance was sourcing income from Australia. The destination where payment was originating from becomes unimportant.
Regardless of the fact that the employing entity is, or is not an Australia resident nor does it have to be situated in the same country. In contrast, it is
where the relevant work was performed that becomes the main focus to determine assessable income.
2.1.1.1 Income derived from work performed in Dubai.
Applying this reasoning to Melinda and Aaron, although the contract made with Jacobs, Sly & Bennett was signed in Australia and payment of

The Case Of Abby Lee Miller
Taxation surrounds us in the world. Individuals fear tax, and a majority of the items we use and need are taxed. Even on topics such as Celebrities and
the Olympics, taxation manages to find its way to still come up.
Celebrities are famous for having issues with the IRS in regards to taxes. Their stories get published all over the news and articles are written
about the situation. Abby Lee Miller is an example of a celebrity that has a case with the IRS and is being reported in the news and articles written.
In the case of Abby Lee Miller, an article in Forbes Magazine was written about her for hiding around $755,492.85 her income. Abby Lee Miller is a
famous dance studio owner from Pittsburg that is featured on the TLC show 'Dance Moms'. Most recently, on June 27 2016, Ms. Miller was
convicted guilty of bankruptcy fraud, concealment of bankruptcy assets, and false bankruptcy declaration. She was caught hiding income from
appearing on 'Dance Moms' and making guest appearances on similar shows. She also was hiding her income from selling merchandise and from
holding dance master classes. Miller was hiding this by having payments made payable to other parties that included her mother, and fake companies.
By hiding her income, the dance studio owner was not paying the proper amount in income tax. To add to this charge, in June, Abby Lee Miller
transported more the $10,000 into the United States from Australia without filling out the proper paperwork for the Federal Government

H & R Block Case Study
H & R Block
H&R Block is one of the largest tax preparation companies in the world. Since its founding in 1955 by the Bloch brothers, H & R Block's goal has
stayed the same: to give Americans as much tax refund as possible while providing a good tax preparation service. In May 2007, H & R Block
reported that it served more than 19.9 million clients helping them obtain about $30 billion in tax refunds! Thats a lot of taxes! I will share a job that H
& R Block offer: Tax Professional (Tax Professional = Tax Preparer).
Tax Professional
Job Description
As a Tax Professional at H&R Block some duties include conducting tax interviews with clients, ensuring client privacy, increasing retention of all
clients, offering additional products and services,

Taxation On Scholarships And Fellowship Grants
Taxation on Scholarships and Fellowship Grants
David Fuelling and his fellow professionals at Florida Tax Advisors are waiting to help students file their income tax returns. People attending college,
no matter their age, will find that there are certain scholarships and fellowship grants that are taxable. These moneys received for education may be
considered as a form of income, and therefore are subject to taxation just like the wages and earnings from a job. It is important that these students seek
the help of a qualified tax preparer, ensuring that their taxes are filed correctly.
What is a Scholarship?
Many current and future college students seek the financial aid of scholarship. A scholarship is a monetary award that is given to a student based
upon specifications set forth by the scholarship donor. The largest benefit to a scholarship is that it is not a loan which must be repaid. Scholarships
are given based upon merit, qualifications, and demographics that are predetermined. Any type of student can receive a scholarship, they are not given
based upon income levels alone. As long as the student shows an aptitude for a certain subject matter or sport, they may be eligible to win the award.
What is a Fellowship Grant?
Similar to a scholarship, in that there is no requirement for repayment, a fellowship grant is awarded to the highest achieving students in a particular
field. These award moneys are most often associated with students who are attaining a post

Taxation Law
TAXATION LAW
WRITTEN GROUP ASSIGNMENT
PART A
ISSUE 1:
Is Andy a resident of Australia for the purpose of income tax?
RULE:
S6 (1) ITAA 36– definition of "resident"
There are four alternative tests helping to decide whether a person is a resident of Australia or not. An individual needs to satisfy at least one test to
prove residency.
(1) Common Law test; (2) Domicile test; (3) 183–day test; (4) Superannuation test
APPLICATION:
(1) Common Law test
According to ordinary concepts of "resident", an individual should satisfy the "Common Law test". In this particular case, Andy spends the last three
years working in Thailand, having signed a contract with a Canadian company in Australia, which doesn't fulfill ... Show more content on
Helpwriting.net ...
(3) 183–day test

The 183–day test is satisfied when a person who has actually been in Australia, continuously or intermittently, during more than one–half of the year of
income.
In the given case, Andy spent most of the year working in Thailand and he only got back to meet his family in Australia one month every three months.
Therefore, he does not satisfy this test.
(4) Superannuation test
As there is no sufficient information regarding Andy's superannuation, the test is not applicable here.
CONCLUSION:
As can be concluded by the above test and analysis, Andy satisfies the Common Law test and Domicile test. Even though the 183–day test is not
satisfied and the superannuation test is not applicable, we can still be sure that Andy can be considered as a resident for the purpose of income tax
assessment.
ISSUE 2:
How should Andy's salary and investment income be taxed?
RULE:
S6–5 (2) if you are an Australian resident, your assessable income includes the ordinary income you derived directly or indirectly from all sources,
whether in or out of Australia, during the income year.
S6–10 (4) if you are an Australian resident, your assessable income includes your statutory income from all sources, whether in or out of Australia.
S4–1 and S4–10 ITAA97:
Income tax = (taxable income * rate) – tax offset
Where taxable income = assessable income – deductions
APPLICATION:

Both the income of

Deferred Tax Essay
Table of Contents
1.0 Introduction1 2.0 Discussion2 2.1 Exploration and Development costs creates a Deferred Tax Liability2 2.2 Analysis on arguments by directors3
2.2.1 No Income Tax Expenses3 2.2.2 No deferred tax liability4 2.2.3 Tax losses5 2.3 Information utility to users of financial report of deferredtax
liabilities6 3.0 Conclusion7 References8
1.0 Introduction
Accounting Standard AASB 112 (Income Taxes) prescribe the accounting treatment for income taxes. As stated by Leo, Hoggett, & Sweeting
(2012), transactions undertaken by an entity and other events affecting the entity have two separate effects, which are current and future tax
consequences. This is because accrual principal is ... Show more content on Helpwriting.net ...
Development cost is capitalised over future period in determining accounting profit but deducted in the period they are incurred when calculating
taxable income (IAS 12, 2012). This will cause Gravatt Ltd to pay more taxes in the future. Moreover, the company actually had a deferred tax
liability of $80million. This is considered material when comparing to equity of $570million. Thus, it should be disclosed in annual report as required
by AASB 1031.
2.2.3 Tax losses Directors believed that neither current tax liability nor a deferred tax liability was necessary as the company was making tax losses
because of huge allowable deductions available for exploration and development costs. According to Leo, Hoggett, & Sweeting (2012), tax loss
provides future deduction for the company, hence deductible temporary difference exists and deferred tax asset arises. In facts, Gravatt Ltd had an
income tax expense of $24.3million instead of tax losses if it followed the accounting standard. This might be due to its taxable income was still more
than tax deduction after considering the development costs. Therefore, argument of directors is invalid as according to AASB 112, tax loss arises
when a company's tax deductions exceeds its taxable income.
2.3 Information utility to users of financial report of deferred tax liabilities AASB 112 provides disclosure requirement in relation to tax in general
purpose of financial statement prepared for

Estate Plan Essay
The purpose of this memo is to devise a practical estate plan for our client who has maintained a lucrative sole proprietorship conducting business in
commercial real estate. The goal in our tax planning strategies will be to legally transition a portion of the $1 billion in assets to multiple tax–saving
trusts and a family limited partnership (FLP). Additionally, the client would like to begin transferring proportional ownership of the company to his
two children over the next thirty years and sell ten percent of the company to an unrelated third party. Furthermore, these tasks need to minimize the
client's taxable estate substantially to reduce his estate tax liability at his death. Moreover, the most proactive method after the FLP is ... Show more
content on Helpwriting.net ...
Furthermore, the client wishes that his children will retain as much value in the company at his death. Therefore, the first item to address is to
begin gifting the maximum amount per year to his children of currently $14,000 per year free of any taxes per IRC В§ 2503. Anything above that
amount per year to the children would trigger IRC В§ 2501 (a) (1) "which will tax any amount over the $14,000 and need to be paid by the gift
giver as opposed to the receiver per IRC В§ 102." Additionally, if the donor gifts more than the yearly dollar limit, IRS form 709 is required to be
filed. However, due to IRC В§ 2001, there may not be any actual tax owed if the amount is less than the lifetime allowable unified credit exemption
which is currently $5.45 million in 2016. In addition, other tax planning strategies that are exempted from, taxation are "gifts made to educational
institutions on behalf of another person and to healthcare facilities to assist individuals when there are extenuating medical expenses not covered by
insurance" per IRC В§ 2503 (e) (2) (A) and (B) respectively. Also, "bequests made to approved charitable organizations are exempt from the gross
estate at their FMV." Furthermore, "life insurance policies may also be excluded from the estate if they name a charity as the beneficiary" per IRC В§
2055.
Consequently, the above strategies will begin to reduce the "taxable estate that will be valued by its fair market value (FMV) at the

Technology Has An Important Asset Nowadays
Technology has been an important asset nowadays, people use it to improve their way of living. Therefore, many people use technology for many
reason. For example; transportation, communication, education, hospitality, games, design, bank, booking, and payment system. In Indonesia, the
number of internet user is increasing according to a statistical analysis (Lim, 2003). The user of internet was less than 1 percent in 1998.
Now internet transformed into an advancement mode of communication. The barrier that prevented people to get any kind of information they wanted
is no longer exist. People can access and get almost of any information from the internet. People do not need to go somewhere else to get any kind of
information, they can ... Show more content on Helpwriting.net ...
Each citizen of DKI Jakarta are only allowed to have one ID card, the unique number will also be used to create passport, driving license, insurance, and
any other identity documents.
Online Tax
The government of DKI Jakarta change the old tax payment system with the new online tax payment system. The system allows both assessment and
official kind of tax payment available in DKI Jakarta via online; Income, Salary, Hotels & Restaurants, Companies, Land & Buildings, cars, etc. There
are many big cities all over the world that been using this system and succeed; New York, Singapore, and Chicago. Therefore, the Governor of DKI
Jakarta, Basuki Tjahaja Purnama, tries to implement it here in DKI Jakarta. The tax services which includes Registration, Implementation, Payment, as
well as Confirmation are main functions that can be found in the new Online Tax System. One of the method of using Information Technology in Tax
Payment is through the Tax Payment Web Portal. It is about time as the capital city of Indonesia, Jakarta provides an accessible and complete
user–friendly Tax Payment Web Portal. With the increase of intensive internet usage, citizens residing in Jakarta has opened up new possibilities to
increase tax services in the name of information Technology. Moreover, with the recent use of Information Technology, real life interactions between
customers and employees are limited, thus negative notions about Government employees are kept at the

A Long Term Financial Plan
If you're a homeowner, and you have a long–term financial plan, you should include a strategy to pay your mortgage off early. If you can, you'll have
more money each month to payoff non–housing debt, or to build up long–term savings to fund your children's college education, or to prepare for your
retirement. And speaking of retirement, you'll want your mortgage gone by the time that day arrives, that way you won't need nearly as much income
and your retirement portfolio will last much longer.
Here are four ways to payoff your mortgage early that you'll hardly even notice. Use one or a combination of two or more, and you'll be mortgage–free
well ahead of schedule.
Refinance to a mortgage with a shorter term
With mortgage rates currently in the 4.something range, this can be the simplest way to retire your mortgage early. The idea is to refinance your
loan, but reduce the term by at least five or 10 years. By doing so, you can convert a 30 year mortgage to a 25 year loan, or even a 20 year term.
As simple as this method is, there are some caveats to be aware of should you decide to go this route:
You don't want to refinance if it will result in an increase in your interest rate of something on the order of one percent or more. There 's a point where
a higher rate will offset the benefits of a shorter term.
You don't want to add closing costs to the new loan balance– doing so will only increase your monthly payments, and make paying off the loan more
difficult.
The term

Acc 553 Week 6 You Decide Essay
I have reviewed your situations and each of your tax considerations and outlined my advisement below.
Part I: Discuss the various forms of organization that are available to Penelope, Mark and John. There are a few different options from which you can
chose to organize your business under. For example: partnership, LLP, SCorporation, C Corporation for which I know you are all familiar with. It is
my duty to give you my own educated and unbiased opinion to which would be most beneficial to all of you.
Part II: Make your recommendation as to what form of organization you believe will be best and be sure to explain the reasoning for your choice. I
find the Limited Liability Partnership to be the best form of organization for your ... Show more content on Helpwriting.net ...
This means that a partnership interest will have a split holding period.
Part IV: Discuss, in detail, how this entity is taxed (if at all) and what filing requirements it has with the IRS. An LLP has pass–through taxation and
the income is reported on each partner's personal tax returns, avoiding any federal tax on profits. (Code Sec. 702) The LLP will be taxed this way by
default; however the option to be taxed as a corporation is also available. Every partnership must file an annual return regardless of the amount of its
net income or its net loss in its operations. (Code Sec. 701; Reg. В§1.701–1; Code Sec. 6031). Form 1065 must be filed every year by the 15th of April.
Part V: Discuss how income and distributions may/will be allocated to Penelope, Mark and John. Profits are shared equally or by percentage
ownership if that is how you divide the company ownership.
Part VI: Discuss, in detail, how the individuals are taxed (if at all) with respect to the net profits from this entity and what filing requirements they will
each have with the IRS. Individuals in a partnership are normally liable for filing personal income taxes, self–employment taxes and estimated taxes
for themselves, according to the Internal Revenue Service. Each individual will file a Schedule K–1. The partnership itself is not responsible for
paying taxes. The credits and

Tax Memorandum Essay
Fact: Peaceful Pastures Funeral Home, inc. (Peaceful). Peaceful, an accrual basis taxpayer provides a full line of funeral service and sells goods
related to those services. Peaceful has attempted to design an approach that allows customers to prepay for their funeral goods and services.
Issue: IRS sent Peaceful an audit notice. It contends that the amount prepaid under Peaceful's program constitutes prepaid income that must be included
in Peaceful's income (and therefore subject to tax) in the year in which it's received.
Conclusion: Peaceful should pay the audit based on the facts. The IRS is correct according to the tax code and laws.
Analysis: Peaceful receive prepay from their customers for funeral goods and service, so Peaceful ... Show more content on Helpwriting.net ...
Notably, under contracts' plain language and pursuant to Massachusetts regs], customers controlled whether or when refund would be made; and fact
that cancellation/refund rights were rarely exercised was irrelevant.
Because Peaceful received prepaid income so they have to pay taxes on the prepaid sales which being made within one year of the sale. According to
the General Rules, Federal Taxation Principles in Perry funeral Home case, he Internal Revenue Code imposes a Federal tax on the taxable income
of every corporation. Sec. 11(a). Section 61(a) specifies that gross income for purposes of calculating such taxable income means "all income from
whatever source derived". Encompassed within this broad pronouncement are all "undeniable accessions to wealth, clearly realized, and over which
the taxpayers have complete dominion." Commissioner v. Glenshaw Glass Co., 348 U.S. 426, 431 [47 AFTR 162] (1955). Stated otherwise, gross
income includes earnings unaccompanied by an obligation to repay and without restriction as to their disposition. James v. United States, 366 U.S.
213, 219 [7 AFTR 2d 1361] (1961).
Section 451(a) provides the following general rule regarding the year in which items of gross income should be included in taxable income:
The amount of any item of gross income shall be included in the gross income for the taxable year in which received by the taxpayer,

Indiana's S District Is Represented By Republican Todd
Indiana's 9th district is represented by Republican Todd Young since January 5th, 2011. Young was born in Lancaster, Pennsylvania on August 24th,
1972 by Bruce and Nancy Young. In 1990, Young graduated from Carmel High School in Carmel, IN. Immediately after graduating high school, Todd
enlisted in the United States Navy. Five years later in 1995 Todd graduated and later accepted a contract from theUnited States Marine Corps.
Meanwhile, Todd was also attending the University of Chicago in Chicago, IL where he earned his MBA with a concentration in Economics in 2000.
Soon after, Young spent a year in London, England at the University of London where he earned his MA from the School of Advanced Study in
London in 2001. After returning to ... Show more content on Helpwriting.net ...
Johnson County is home to a population of approximately 139,654 people. The counties that make up the 9th District include: Brown, Clark,
Crawford, Floyd, Harrison, Jackson, Johnson, Lawrence, Monroe, Morgan, Orange, Scott, and Washington. The population in 2000 was an estimated
675,599 with a drastic increase in 2010 to an estimated 729,076 people. The 9th Districts economy is focused on manufacturing and agriculture.
"Among our employers are pharmaceutical and medical device companies like Cook Medical and Baxter in Bloomington; nationally recognized
commercial agricultural producers like Tyson Foods in Corydon and Rose Acre Farms in Seymour...and military installations like Camp Atterbury and
Crane Naval Surface Warfare Center (Representing)." The main concerns in regard to laws and general policies for Todd Young include: Foreign Trade
and International Finance, Taxation, Social Welfare, Government Operations and Politics, Armed Forces and National Security, and Health. The main
concentration in Foreign Trade and International Finance is the want to temporarily suspend the duty on certain knit and woven fabrics. The main
focus in taxation includes laws such as the CARS Act of 2015, Alternative FuelTax Parity Act, etc. The main focus in Social Welfare includes laws
such as the Social Impact Partnership Act, Social Impact Bond

Spouse A Case Study
1)Recommended Tax Filing Status
Spouse A has varying sources of income and given the characteristics of his personal and professional life, he can claim a number of deductions.
Owing to the fact that Spouse A and Spouse B have varying sources of income, Spouse A would most ideally file the IRS 1040 form jointly with his
wife's tax returns. This is because a joint tax return would give them access to a host of deductions for which they are eligible. These include earned
income tax credits, American Opportunity and Lifetime Learning Education Tax Credits, and Child and Dependent Care Tax Credit. Under joint filing,
the couple could exclude the income of $500,000 from the sale of their personal residence, while separate filing would only allow a $250,000 deduction.
2)Rules on Income
a)Taxable and Nontaxable Income
Child support that Spouse B receives is not taxable since it is not considered income. Any form of child support is not taxable. Alimony that is paid
out by spouse A is deductible since it is going to be taxed on the recipient of the alimony as income (John Wiley & Sons, 2013).
b)Short–term and long–term capital gains or losses
A capital gain or loss is considered on the sale or the returns from an asset. There are short–term capital gains or losses that amount from the sales of an
asset which are owned for less ... Show more content on Helpwriting.net ...
The amount that is eligible for taxation is the difference between the buying price of the stock and the selling price (Zelenak, 2013). Given there is a
capital gain, the resulting gain is taxed while a loss makes the applicant viable for a tax deduction. The capital gains or losses usually arise when an
individual has sold off an asset at a profit. A salient example is the sale of the rental house that was sold for a profit of $44,000. There are limits to a
capital loss that can be reported ($3,000) given the capital losses surpass the capital

Case 09-9: Bricks and Mortar Essay
Case 09–9 Bricks & Mortar
Background
Bricks & Mortar Co. (The Company) an SEC registrant, is a manufacturer of construction equipment. The
Company has been in business for more than 50 years and operating profitably for the past 25 years. In
addition, the company has an applicable tax rate of 40% and no unused tax loss or credit carryforwards.
The Company's fiscal year ends on December 31.
Relevant Issue
This case provides an opportunity to use accounting authority to account for the two issues in the
case. Under issue 1 we must determine the adjustment required to the Company's preliminary 2009
financial statements to comply with ASC 740–10 by completing the table that was provided and justify
our ... Show more content on Helpwriting.net ...
Issue 1 facts: As a result of implementing a certain tax strategy, the Company has included a $100
deduction in its draft tax return, resulting in a $40 reduction to taxes payable. There is uncertainty over
whether the tax strategy is sustainable under the tax law and therefore over whether the additional

$100 is deductible for tax purposes.
Management thinks that there is a 40% chance that the tax position would be sustained if taken to
the court of last resort. However, on the basis of its past experience in negotiating settlements with
the taxing authority, management believes that if it were to negotiate a settlement with the taxing
authority rather than take the dispute to court, it would have an 80% cumulative probability of realizing
at least $40 of benefit, 40% chance of realizing $20, 30% chance of realizing $10, and only 20% chance
of realizing no benefit. The sustainability of this tax position does not affect the tax bases of the
Company's assets or liabilities.
Issue 1 facts, One year later:
We assume the same facts as issue 1 facts but one year has pasted and the Company is preparing its
financial statements for the year ended December 31, 2010.

Argumentative Essay: Should Colleges Be Free For Everyone?
Have you ever felt that the education system in the United States is unfair? In our society, not everyone has access to good education. People living in
poverty specifically, are victims of this. Wealthy people, on the other hand, have much better access to good education. College in the United States
should be free for everyone. Free college for everyone may be expensive, but the benefit of educating more people outweighs the potential cost.
Some people will argue that giving free access to college for everyone will hurt the economy as well as cost the government too much money.
According to trade–schools.net, "Opponents of free college tend to believe that such an idea would simply be too expensive for the federal and state
governments to maintain long–term. As a result, Americans may have to start paying much higher taxes. And that, they say, could hurt the economy
since people might have less to spend or invest." The increased incomes earned by the increase of educated people would generate more tax revenue
thereby negating the cost of government spending on free college. By giving access to free college to everyone, more people will be educated to
create businesses and more jobs to help the economy. Free college will help anyone contribute their talents to society. Also, student loans wouldn't exist
anymore.
It's a fact that rich people have better access to education because of their wealth. More often than not, poorer people don't reach their full potential
because

Federal Taxation Test Paper
Tax 2 Test 3
Multiple Choice
Identify the choice that best completes the statement or answers the question.
_D___1.Which of the following are organizations exempt under В§ 501(c)(3)?
a.Girl Scouts of America.
b.Washington and Lee University.
c.Veterans of Foreign Wars (VFW).
d.Only a. and b. are В§ 501(c)(3) organizations.
e.All of the above are В§ 501(c)(3) organizations.
__D__2.Which of the following is a requirement for exempt status?
a.The organization does not exert political influence.
b.The organization has not been subject to intermediate sanctions for the past 24 months.
c.The organization serves some type of common good.
d.Only a. and c.
e.a., b., and c.
__C__3.Rose, Inc., a qualifying В§ ... Show more content on Helpwriting.net ...
$0.
b.$200,000.
c.$260,000.
d.$1,900,000.
e.$1,960,000.
_E___10.Which of the following is a typical duty of an executor?

a.Pay funeral expenses.
b.Pay off the decedent's financial liabilities.
c.Distribute the net assets of the probate estate.
d.Manage the decedent's assets until they are liquidated or distributed.
e.All of the above
_A___11.Which of the following is a typical duty of a trustee?
a.Make decisions as to how to invest the trust corpus portfolio.
b.Modify the language of the trust instrument so as to lower the entity's Federal income tax.
c.Pay the estate taxes of the grantor.
d.Allocate items between income and corpus using Subchapter J rules.
e.All of the above.
__C__12.The Code defines a "simple trust" as which of the following?
a.One which is allowed to file Form 1041–EZ.
b.One which has only one income beneficiary.
c.One which must distribute its accounting income every year.
d.One whose grantor was a living individual.
__D__13.Which of the following taxpayers use a Schedule K and K–1 to pass through income, loss, and credit amounts to the owners or beneficiaries?
a.Complex trust.
b.Partnership.
c.S corporation.
d.All of the above taxpayers use Schedule K and K–1.
__C__14.The Jain Estate is required to pay its entire annual accounting income to Sam and Janet. The estate's personal exemption is:
a.$0.
b.$100.
c.$300.
d.$600.
__D__15.The

Engineer
AUDITING PROCUREMENT CARDS (P–CARDS) BRAD TOMLINSON, ASSISTANT ADMINISTRATOR COMPUTER ASSISTED AUDIT
GROUP OHIO DEPARTMENT OF TAXATION, AUDIT DIVISION Telephone 614
–387–2068 Email: bradley_tomlinson@tax.state.oh.us WHAT
ARE P–CARDS? An enhanced credit card used by business employees. It is similar to a MasterCard or Visa card, but contains more information that
can be used to control purchases such as dollar limits and number of transactions within a given period or for an individual or group. (From
PCMag.com) 1 WHY USE P–CARDS? Reduce processing costs for invoices, purchase orders, check processing etc. Increase efficiency and control
Assign cards to individuals or departments with variable controls ... Show more content on Helpwriting.net ...
T h e r e f o r e , th e d o lla r a m o u n ts w ill b e r e la tiv e ly s m a ll a n d s tr a tif ic a tio n w ill n o t b e n e c e s s a r y f o r th e s e tr a n s a c tio
n s . T h e to ta l ta x d e f ic ie n t lis tin g s f o r th e s a m p le d p e r io d w ill b e d iv id e d b y th e to ta l o f a ll s a m p le d tr a n s a c tio n s to d
e te r m in e th e ta x d e f ic ie n t p e r c e n ta g e . T h is p e r c e n ta g e w ill th e n b e a p p lie d to a ll a u d it p e r io d p u r c h a s e s in a c c o
u n t # ? ? ? ? to d e te r m in e th e to ta l p r o je c te d ta x a b le a m o u n t f o r th e e n tir e a u d it. T h e a p p lic a b le ta x r a te s w ill b e e q u
ita b ly a p p lie d b a s e d o n th e c o u n tie s w h e r e in e r r o r s e x is te d to d e te r m in e th e to ta l a u d it p e r io d ta x lia b ility d u e o r o v
e r p a id o n p – c a r d p u r c h a s e s . AGREEMENT LETTERS (ACTUAL) P ro c u re m e n t c a rd p u rc h a s e s (h e re a fte r re fe rre d to a s
p –c a rd s ) w e re c h a r g e d t o v a r io u s e x p e n s e a c c o u n t s d u r in g t h e a u d it p e r io d . T h e s e t r a n s a c t io n s w e r e n o t h a
n d le d in t h e t r a d it io n a l s e n s e s in c e t a x p a y e r s e ld o m is s u e d e x e m p t io n c e r t if ic a t e s t o s u p p lie r s w h e n it e m s p
u r c h a s

finance assignment 1
Assignment 1:
Part 1: Economic Basics
(10.0 points)
Please BOLD/HIGHLIGHT your answers to make it easy for me to see your answers.
1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you
personally. (4–6 sentences. 2.0 points)
It makes a plan for you to save money in order to buy a house, a car, go to college or afford to move into an apartment. I would like to start saving
money so I could be able to move out on my own and also to buy a car because right now I have to have my parents take me anywhere I want to go.
2. Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a ... Show
d. Fill out the Amount You Owe section if Jessie owes the IRS money.
e. Do not fill out the Third Party Designee Section, the Sign Here section, or the Paid Preparer's Use Only Section.
f. Click the File menu, and then click Save so that your work is saved.
Part 3: Banking
(14.0 points)
1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below.
EXAMPLE: Some large banks you might consider include Bank of AmericaВ®, JPMorgan ChaseВ®, Wells FargoВ®, CitibankВ®, and U.S. BankВ®.
a. What is the name of the bank or credit union? (0.5 points)
b. List three facts about savings account options at the bank or credit union you chose. (3 sentences. 1.0 points)
c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points) d. Does this bank or credit union offer
online banking? (0.5 points)
e. Would you be likely to choose this as your bank or credit union? Why or why not? List at least two reasons for or against choosing this bank or
credit union. (3–6 sentences. 2.0 points)
2. Visit the website of a second large national bank, regional bank, or credit union, and use the information you find there to answer the questions
below. a. What is the name of the bank or credit union? (0.5 points)
b. List three differences you found between the accounts and features this bank or credit union offers and the bank from

Taxation Case Study
Task one Issues: 1. Are activities relating to use of land a business or a hobby? 2. Are the amounts related to the land deductible or not under general
rules? * the loan to purchase the land and interest expense * council rates and insurance in respect of the land * payment to develop plans for
proposed building 3. If no, is there a "specific deduction" section? References: ITAA97 s8–1–––general deductions: you can deduct from your
assessable income any loss or outgoing to the extent that it is necessarily incurred in carrying on a business for the purpose of gaining or producing
your assessable income, and you... Show more content on Helpwriting.net ...
And under ITAA97 s6–1, if an individual is an Australia resident, he/she need to satisfy ordinary concepts test or one of three statutory residence tests.
So in link with your circumstances, you got the teaching contact of university in England. It is sure that the ruling will directly do another three tests
that are domicile test, the 183–day test and commonwealth superannuation test. In the light of your fact, I feel that only the second rule will be
looked. Because the second statutory test delimits constructive residence in Australia is attributed to a person who is actually present in Australia for
a total period of more than half the income year unless usual place of abode is outside Australia or does not intended to take up residency in Australia
and an individual is a resident under third the third test if he/she is a contributing member of the superannuation fund, the fact is that you have recently
completed your study and never worked in Australia before. In test two, it will be judged whether you are domiciled in Australia unless permanent
place of abode is outside Australia. You are born in Australia and have always lived with your parent before coming to the UK, which means your
base–home is Australia. So the important factor to the ruling depends on whether you establish a permanent place of abode outside Australia. We need
to consider what your intention, family business and assets are. There are some similar cases can be referred such

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