Skyy Fall
Chao Guo
ACCT 3350 – T, TH
Professor Solcher
2/22/2014
Tax Issue in the movie “Skyfall”
In the movie, Skyfall, there are some tax topics that arise in the film which we have covered in class. The tax issues that occur in the movie vary from the James Bond to those around him. One of the topics that will be discussed is the need of characters reporting their earned income because of their employment. Other concepts that will be mention are the business purpose on transports, form compensation, administrative convenience concept, all-inclusive income, evasion and vacation home tax treatment. The movie starts out where MI6 agents James Bond and Eve persuading a mercenary, Patrice, who has stolen a computer hard drive that contains details of all NATO agents operating undercover in terrorist organizations. During the pursuit, James Bond is shot by Eve, who misjudged her shot as it was meant to hit Patrice. Bond falls into a river and goes missing, assumed to be dead. The tax topics arise by this point of the movie, James Bond and Eve both are working as agents of MI6, and they should be paying their tax. Second tax topic we encounter is that after MI6 assumed Bond is dead, they took away Bond’s living place because Bond doesn’t have a family. This could be an administrative convenience concept, because Bond living place could be given by MI6 for Bond is an on call agent for missions. If this is the case, then Bond is not required to include the value of living in taxable income. And if the house was bought by Bond, then he will needs pay tax on the property, and MI6 should pay him back for taking away his own property. After Bond hearing the news of MI6 has been attacked, Bond decides to return to London and help M, the head of MI6. Bond is sent to Shanghai, where Patrice, the mercenary, will shortly arrive. The airplane ticket as well as new the equipments that were given to Bond is a gift that should turn into a form compensation, which Bond is not
ACCT 3350 – T, TH
Professor Solcher
2/22/2014
Tax Issue in the movie “Skyfall”
In the movie, Skyfall, there are some tax topics that arise in the film which we have covered in class. The tax issues that occur in the movie vary from the James Bond to those around him. One of the topics that will be discussed is the need of characters reporting their earned income because of their employment. Other concepts that will be mention are the business purpose on transports, form compensation, administrative convenience concept, all-inclusive income, evasion and vacation home tax treatment. The movie starts out where MI6 agents James Bond and Eve persuading a mercenary, Patrice, who has stolen a computer hard drive that contains details of all NATO agents operating undercover in terrorist organizations. During the pursuit, James Bond is shot by Eve, who misjudged her shot as it was meant to hit Patrice. Bond falls into a river and goes missing, assumed to be dead. The tax topics arise by this point of the movie, James Bond and Eve both are working as agents of MI6, and they should be paying their tax. Second tax topic we encounter is that after MI6 assumed Bond is dead, they took away Bond’s living place because Bond doesn’t have a family. This could be an administrative convenience concept, because Bond living place could be given by MI6 for Bond is an on call agent for missions. If this is the case, then Bond is not required to include the value of living in taxable income. And if the house was bought by Bond, then he will needs pay tax on the property, and MI6 should pay him back for taking away his own property. After Bond hearing the news of MI6 has been attacked, Bond decides to return to London and help M, the head of MI6. Bond is sent to Shanghai, where Patrice, the mercenary, will shortly arrive. The airplane ticket as well as new the equipments that were given to Bond is a gift that should turn into a form compensation, which Bond is not