TAX MANAGEMENT [pic] LESSONS FROM HISTORY Lessons From History [pic] Taxes are as old as recorded history. They are mentioned in ancient Sumer around 3‚000 B.C. Tithing‚ the practice of pledging ten percent of one’s wealth‚ was commonly practice among ancient peoples and still is used today by some religious groups in the United States. Rome collapsed when taxation reached fifty-two percent and when taxes imposed on the colonies reached twenty-three percent‚ that was considered
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------------------------------------------------- Tax Research Memo: Entity Selection Issue FROM: Mark J. Sobanski‚ CPA TO: Penelope‚ Mark and John. DATE: April 15th‚ 2013. SUBJECT: Entity Selection for the new business. Issue/ Considerations: It is desired to study the issue of how should the new business to be started by Penelope‚ Mark and John be structured? The related tax and non-tax considerations are as follows – I. The different forms of organization available to Penelope‚
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Australian Tax Law BFA714 – Exempt Income BFA714_10 What is income? 2 Key Legislative Provisions ITAA97 • Economist View – Division 6: • • • • • – Traditional economic view of income is that it is a ‘gain’ • Recognises both realised and unrealised gains as income s 6-5 Ordinary income s 6-10 Statutory income s 6-15 Not assessable income s 6-20 Exempt income s 6-23 Non-assessable non-exempt income – Other Relevant Divisions: • • • • • Tax View • Only
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----------------------- ITC PAY Basis SSI – entitled to receive‚ FSI – received in Sg Current a/c interest – accrues evenly over time Fixed Deposit interest – date of maturity 1. Net Acc profit (before dep & tax) Expense Deductible N.D Charge to P/L Nothing Add Not charged Minus Nothing Revenue Taxable N.T Credited to P/L Nothing Minus Not credited Add Nothing Add: 10(1)(a) income not credited to P/L Expense charged for Non 10(1)(a) Less: Non 10(1)(a) income credited
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Investigating the Effect of Lipase Concentration on the Breakdown of Fat in Milk INTRODUCTION: Enzymes are proteins which can catalyse chemical reactions without changing themselves. The enzyme lipase breaks down the fat in dairy products such as full-cream milk for people who are lactose intolerant. Lipase acts on its specific substrate‚ lipids produces fatty acids. If enzyme concentration increases‚ random collisions between the substrates and active sites of enzyme increase due to the increasing
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resources burden government with economic problem which can and shall ultimately pose danger to the peace and order condition of the community‚ country or nation. In the Philippines the tax department‚ popularly known as Bureau of Internal Revenue (BIR)‚ is under the support of the Department of Finance. The tax department has enormous and wide ranging administrative and legislative powers when it comes to assessment‚ enforcing taxes and collection. It is considered to be the main revenue earning
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FATS HEATHER FRANKS SCI/241 August 2‚ 2012 According to the “Face the Fats” article we have bad fats‚ better fats‚ and best fats. Bad fats are considered saturated fats and trans fats. Bad fat is anything with butter on it or in it. Examples of saturated fat items would be steaks‚ loaded potatoes‚ and deserts as well. Examples of trans fats would be anything deep fried like fast food French fries
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2. Why is there little tax evasion in Singapore or any other country of your choice? Is it because Singaporeans fear state punishment or because they are satisfied with the performance of the state? Or is there any other explanation? Which explanation(s) do you find most persuasive? Why? Tax evasion‚ the illegal negligence in taxpaying and misrepresentation of tax returns to reduce one’s tax liabilities‚ is at a low level in Singapore. With Singapore’s strong tax enforcement‚ Singaporeans fear
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Fat- and Water-soluble Vitamins Vitamins are primarily classified by solubility. Some vitamins are soluble in water and others are soluble in fat. “According to The National Institute of Health‚ the body needs 13 vitamins for normal health.” This includes vitamins A‚ C‚ D‚ E‚ K and the B complex vitamins‚ thiamine‚ riboflavin‚ niacin‚ pantothenic acid‚ biotin‚ B6‚ B12 and folate. Each of these vitamins provides a variety of functions to the body which can be obtained from a well balanced diet
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A taxpayer’s average tax rate is determined by dividing the total tax paid by the total income of the taxpayer. A) True B) False Beginning in 2011‚ all paid tax return preparers must sign up with the IRS‚ pay a fee‚ and obtain a preparer tax identification number. A) True B) False 22. Taxpayers who are unable to pay their taxes may enter into a payment plan with the IRS if the amount they owe is within certain limits. A) True B) False 23. At which of the following IRS
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