the initial planning of an audit. How do these all specifically to the Smackey Dog Food client? Solution: Initial audit planning has several activities. Those include: 1. Understand the client’s business and the industry as a whole. In the case of Smackey’s‚ the audit firm would do well to enlist the help of those who have taken part in an audit in the dog food business. They could lend insight into the intricacies of the business without the need to do extensive research. 2. Assess
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incurred during the taxable year in carrying on any trade or business”. (http://www.law.cornell.edu/uscode/text/26/162). Conclusion The $25‚000 is an allowable business expense deduction and will not be included in gross income. Issue (c): What is your determination regarding reducing the taxable amount of income for both (a) and (b) above? John Smith will be required to pay income tax on the $300‚000 only. He should consider itemizing his deductions instead of taking the standard deduction
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business entity for any individual(s) will depend on their particular facts and circumstances. You are a valued colleague and friend of this threesome‚ and they have come to you seeking advice as to how to structure their new business. They have the knowledge to figure it out themselves but are looking for the advice of an unbiased third party. Please consider the following tax and nontax considerations as you recommend an entity choice to Penelope‚ Mark‚ and John. Part I: Discuss the various forms
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You Decide Professor: To: Kim Brown‚ Branch Manager CC: Ken Rogers‚ Corporate Manager From Subject: Access Control Lists Date: 10/06/2013 Good day MS Kim‚ I would like to explain the available options of Access Control Lists what will do and what types of ACLs there are. Complex ACLs can be tricky but will better for security for the network. There are three different types of ACLs‚ Dynamic ACL‚ Reflexive ACL‚ and Time Based ACL. Each ACL is unique to the type of network we have
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expense‚ so he will be taxed on this amount. 1 Issue (c): What is your determination regarding reducing the taxable amount of income for both (a) and (b) above? In order for John to reduce the taxable amount of his income of $300‚000‚ he must maximize his deductions as business expenses. Business expenses are the cost of carrying on a trade or business. Expenses are usually deductible if the business is operated to make a profit. The tax code Section 162- Trade or business expenses indicates
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WHAT EXPERIENCE DO YOU HAVE THAT YOU BELIEVE WILL MAKE YOU A SUCCESSFUL POST UNIVERSITY STUDENT My name is Leona Woolfe‚ I was born and raised in Jamaica Queens New York. My siblings and I were in the foster care system‚ at that time abuse was happening to children unfortunately a lot of issues were swept under the rug‚ we would just be moved again to another home until the age of 17 for me when we were let out of the system but the mental damage had already affected my family and it was left
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You Decide Jonah Colombo DeVry University Author Note: This paper is being submitted March 24‚ 2013 for Professor Barbara Bailey’s Criminal Investigation course at DeVry University by Jonah Colombo You Decide – Week 3 In order to best aid in the investigation I have chosen Deputy Johnson as my assistant lead investigator. While all good candidates for the job‚ Deputy Johnson has the skills required to be the best fit for the role. Not only has she been in law enforcement
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Hung Chu Political Science A180 Professor: Patrick Coaty July 10th 2010 What would you do to prevent another 9/11? How would you fight the war on terror? Throughout the book “Understanding the war on Terror”‚ I have got a full understanding of how the world terrorisms world. The idea of terrorism was actually established several centuries ago. Generally‚ terrorism is not only practiced by Rational Islamic group like Hezbollah or Al-Qeada; it had been planned in the Nazi‚ and the Soviet Government
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provide services for wedding‚ parties and other sociable function that would take place around the surrounding areas. Unfortunately the business did not generate the expected profits therefore we are in the process of dissolving the business. How will we split the $15‚000 left in the investment? Well developing a contracted agreement‚ there was no agreement set forward in which an exit strategy needed to be planned. Which we failed to do so‚ and should have been planned a head of time. As far capital
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Experiences…How do they make you‚ “you”? What do you think makes you‚ “you”? I think your culture‚ religion‚ and experiences contribute to make a person who they are. I believe that certain aspects of humans and their experiences work together to create a person. For me‚ culture or religion can help shape a person’s characteristic because they play important roles in affecting how they view life. Another characteristic that can influence who or what a person is‚ is their experiences. When you experience
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