Case : “week 8 federal taxation discussion” Employee Business Expenses" Please respond to the following: As part of his contract at his new job‚ Jim is provided a company car and gas card to go back and forth to work. He sometimes uses the car for out-of-town travel approximately once a month. Jim also uses the car and the gas card for his family vacations‚ dinner‚ etc. Question: Explain the applicable tax law regarding employee compensation and the criteria for deducting expenses Make at least
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Prentice Hall’s Federal Taxation 2013 Corporations‚ 26e (Pope) Chapter C10 Special Partnership Issues 1) A partnership cannot recognize a gain or loss on a current distribution. Answer: FALSE Page Ref.: C:10-2 Objective: 1 2) If a partnership asset with a deferred precontribution gain is distributed within seven years of acquisition in a nonliquidating distribution to a partner who did not contribute the asset‚ the precontribution gain must be recognized by the contributing partner. Answer:
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Financial Reporting ISSN 2162-3082 2012‚ Vol. 2‚ No. 2 Analysis of Tax Formation and Impact on Economic Growth in Nigeria Ebiringa‚ O.T (Corresponding author) Management Technology Federal University of Technology‚ Owerri‚ Nigeria E-mail: otebiringa@yahoo.com Emeh Yadirichukwu Department of Accounting Federal Polytechnic Nekede‚ Owerri‚ Nigeria E-mail: diriolisa@yahoo.com Received: October 17‚ 2012 Accepted: December 13‚ 2012 DOI: 10.5296/ijafr.v2i2.3013 Abstract As a fiscal instrument
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Research Problem 1. Locate the following cited items and give a brief description of the topic or opinion in the item: a. § 59A(a). Internal Revenue Code Section 59A which refers to imposition of environmental tax in the case of a corporation‚ there is imposed a tax equal to 0.12 percent of the excess of the modified alternative minimum taxable income of such corporation for the taxable year‚ over $2‚000‚000. b. Reg. § 1.6166(a)(8)(D)(i). Treasury regulation which refers to the 10-year estate
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Taxation should be equal According the definition taxes are the sum of money demanded by a government for its support or for specific facilities. The government demands money from everyone not just some one but there are some who don’t seem to go pay the fair amount as everyone else. Taxation has also been a big part with the current recession. Our government is investing in defense‚ using out money when more should go into social programs. Cuts have been made in different programs because of
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chains a good approach in dealing with health related diseases? As of today the rate of chronic diseases have skyrocketed‚ we need to come up with a solution to make healthier food available to the population. Although junk good producers may find that the tax is unfair. The overall result of taxation is to improve the health of our nation. If taxation of fast food was a reality today it will ultimately motivate producers and sellers to improve their products and provide the consumers with better options
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TAXATION * It is a means by which governments finance their expenditure by imposing charges on citizens and corporate entities. * Governments use taxation to encourage or discourage certain economic decisions. For example‚ reduction in taxable personal (or household) income by the amount paid as interest on home mortgage loans results in greater construction activity‚ and generates more jobs. See also taxation principles. * Taxation refers to the act of a taxing authority actually levying
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to the local go e e ts. GENERAL PRINCIPLES OF TAXATION Pepsi Cola v. Municipality of Tanauan: Legislati e powers may be delegated to local governments in respect of matters of local concern. This is sanctioned by immemorial practice. By necessary implication‚ the legislative power to create political corporations for purposes of local self-government carries with it the power to confer on such local governmental agencies the power to ta . A. Taxation a. Definition i. It is the power by which the
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Case: 75 Federal Finance Bank – Instructor’s Solution INPUT DATA: Amount Needed to Raise Flotation Costs Stock Offer Price Market Value/Book Value Ratio (Dollars in thousands) Assets Cash U.S. Treasuries Mortgage-backed Securities Municipal Bonds Government Agency Securities Total Cash & Securities Residential Mortgage Loans Consumer Loans Business Loans Total Loans Fixed Assets Total Assets Liabilities Passbook Savings Non-interest Checking N.O.W. Accounts Money Market Accounts Certificate of
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[2008] NZSC 115; [2009] 2 NZLR 289; (2009) 24 NZTC 23‚ 188 (SC). BNZ Investments Ltd v Commissioner of Inland Revenue (2009) 24 NZTC 23‚582 (HC). Books and Chapters in books Robert Vosslamber New Zealand Taxation 2013 (1thed‚ Brookers Ltd‚ Wellington‚ 2013). [ 4 ]. Robert VosslamberNew Zealand Taxation 2013 (1thed‚ Brookers Ltd‚ Wellington‚ 2013) at [24.8.2].
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