ALTERNATIVE MINIMUM TAX ALTERNATIVE MINIMUM TAX The alternative minimum tax (AMT) is an income tax imposed by the United States federal government on individuals‚ corporations‚ estates and trusts. AMT is imposed at a nearly flat rate on the adjusted amount of taxable income above a certain threshold (also known as exemption). Note that this exemption is substantially higher than the exemption from regular income tax. Regular income tax is adjusted for
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charges‚ interest rates on loans‚ etc. to employees of Corporates and Institutions which include Schools‚ Colleges‚ Universities‚ Government establishments/ organizations‚ Service organizations such as Hospitals‚ Hotels‚ Transport Corporations etc. The Package can be specially customized depending upon the business relationship that the Corporate / Institute has with the Bank. CRITERIA • Minimum 25 Employees • Minimum Gross Monthly income Rs.5000/- • Minimum monthly salary pay-out of Rs.1‚25
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advantages of forming a corporation are: * Reduction of personal liability. A sole proprietor has unlimited liability * Taxes. Forming a corporation may mean that more expenses can be considered business expenses and be deducted from the company’s income. * Improved credibility. The business may have increased credibility in the business world compared to a sole proprietorship. * Ability to attract investment. Corporations can raise capital through the sale of equity. * Continuous life
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DQ 1 Why is tax minimization different from efficient tax planning? Effective tax planning involves considering the role of taxes when implementing the decision rule of maximizing after-tax returns. Tax-minimization does not aim to maximize after-tax returns‚ so it may be undesirable. Tax minimization can introduce significant costs along nontax dimensions. Tax minimization may not consider risks and costs‚ so may not catch the some profitable chances. But‚ effective tax planning always consider
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Over 1‚000 Essential Words and Phrases! BUSINESS WORDS YOU SHOULD KNOW From Accelerated Depreciation to Zero-based Budgeting—Learn the Lingo for Any Field H. DEAN M C KAY‚ P H .D.‚ AND P.T. SHANK Business Words You should knoW From Accelerated Depreciation to Zero-based Budgeting—Learn the Lingo for Any Field h. dean MckaY‚ Ph.d.‚ and P.T. shank Avon‚ Massachusetts I dedicate this book to Susan Shank Mix‚ my wife‚ lifelong friend‚ and trusted advisor. Without
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the growing inequality between wages and profits. Through looking at these two relationships we can see the worsening condition of the distribution of income and wealth in Australia. When looking at changes in income in Australia‚ the recent trends (as seen in diagram 1 and diagram 2) shows the top 20% or highest quintile‚ increasing their income share from an averaged 38% in 1994/95 to over 41% in 2007/08. This increase has resulted from the long period of economic growth‚ characterised by increasing
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Steven Bernal Income Distribution Egoist The manner in which Income is being distributed in today’s society is not efficiently benefiting individuals. Struggling businesses are unable to afford an adequate number of employees due to minimum wage requirements and this in turn is taking away the opportunity of less qualified personnel to obtain the position for less pay and receive training. People are looking to tax inheritance in hopes of creating a more equal opportunity for everyone
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LOCUS STANDI – A CONUNDRUM IN ENVIRONMENTAL RIGHTS PROTECTION: WILL THE ANSWER COME FROM THE SUPREME COURT OR CONSTITUTION MAKING PROCESS? ‗A planet in peril‘ this sentiment arose after former U.S Vice-President Albert Gore Jnr advocated for the cause of climate change in his acclaimed biography ‗An inconvenient Truth‘. The words ‗a planet in peril‘ echo resoundingly across the pillars of this earth and everywhere peoples are suddenly faced with the realization that the protection of the environment
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investments of $10‚000. Assume the taxpayer is in the 28% marginal tax bracket for ordinary income and 15% for qualifying capital gains and dividends in all tax years. The selected investment will be liquidated at the end of five years. The alternatives are: Taxable Corporate Bond yielding 6% before tax‚ and the interest can be reinvested at 6% before tax. The taxable bond and reinvested earnings will accumulate at an after-tax rate of 4.32% [(1 – .28) × .06] to equal $12‚355 at the end of 5
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and he was not taxed on the travel reimbursement. Use an available tax research service to determine how much Income‚ if any‚ does Latrell have to recognize as a result of purchasing an airline ticket with Sky miles earned from business travel. IRS Announcement 2002-18 states that frequent flier miles earned for business travel and redeemed for in-kind benefits (e.g.‚ a free airline ticket) do not represent taxable income. This ruling only applies to in-kind benefits and not frequent flier
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