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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A. Our final theme for the semester 1. We have two more additional readings II. REVIEW READINGS A. Calavita’s (1996) ‘“Balanced-Budget Conservatism’ and the Symbolism of Proposition 187” Proposition 187 influenced the rest of the nation in terms of this concept called nativism. Nativism is used to describe this defensive merit of nationalism. You can be nationalistic and love your country‚ but when you have a defensive‚ aggressive nature about the way in which you feel about that nationalism
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of the Firm The firm’s goal is to maximize profits‚ !. In order to do this it must decide what quantity of a good to produce given costs‚ technology and demand. A competitive firm is assumed to be able to sell as much as it wants at the market price without affecting price. So it takes price as exogenous (beyond it’s control) and does not worry about demand. In addition‚ for our purpose we’ll assume the firm operates efficiently‚ that is‚ whatever the level of production that the firm chooses
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If proposition 67 was implemented then it would eliminate the use of plastic bags completely in California. Several counties in California have already adopted this proposition and it has already been in effect for about a year. However‚ according to Ballotpedia‚ if this proposition is passed then California would be the first state to ban the sale of plastic single-use bags. Instead‚ Californians will have the option to use reusable bags and recycled paper bags with a minimum fee of 10 cents. Products
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Proposition 19: Denied. California voters recently disapproved Proposition 19‚ also known as “Regulate‚ Control‚ and Tax Cannabis Act of 2010”‚ which would have legalized the recreational use of Marijuana‚ or Cannabis‚ to citizens of the state. November 2nd‚ 2010 not only marked the opening of the polls in California‚ but as a precedent in voting history‚ as the people voted either for or against this controversial proposition‚ though ultimately the bill was defeated. With the denial of this
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W22Extra: Tax and Gearing: More Questions Multiple Choice 1) Which of the following statements is false? A) In general‚ the gain to investors from the tax deductibility of interest payments is referred to as the interest tax shield. B) The interest tax shield is the additional amount that a firm would have paid in taxes if it did not have leverage. C) Because Corporations pay taxes on their profits after interest payments are deducted‚ interest expenses reduce the amount of corporate tax firms
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Persuasive Speech Tax on Cigarettes I. Opening Statement of Interest- Imagine every year a town the size of Bakersfield disappearing‚ well you don’t have to imagine because it’s happening already. A. Speaker Credibility- According to Centers for disease control and prevention 443‚000 people die prematurely from smoking or exposure to secondhand smoke‚ another 8.6 million people live with a serious illness caused by smoking. Despite the factors of smoking 46.6 million adults in the
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A. FIRM AND ITS OBJECTIVE: Conventional theory of firm assumes profit maximization is the sole objective of business firms. But recent researches on this issue reveal that the objectives the firms pursue are more than one. Some important objectives‚ other than profit maximization are: (a) Maximization of the sales revenue (b) Maximization of firm’s growth rate (c) Maximization of Managers utility function (d) Making satisfactory rate of Profit (e) Long run Survival of the firm (f) Entry-prevention
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Research Paper Would California be more progressive with the legalization of Proposition 64? The problem that society is and has been facing is all about proposition 64. People still debate whether it should be passed for good reasons but still others oppose for bad reasons. Along the way there have been some initiatives that have been proposed but didn’t go as planned. Proposition 64 has to do with legalizing recreational marijuana for use of adults 21 and older under the state law. This means
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depreciated. Kennedy can sell the used equipment today for $5 million‚ and its tax rate is 40 percent. What is the equipment’s after tax net salvage value. Book Value (BV) = (1 – 0.8) x $20 = $4 million Market Value (MV) = $5 million Additional Taxable Income = MV – BV = $1 million Additional Taxes = 0.4 x $1 = $0.4 million After tax salvage value = $4 - $0.4 = $3.6 million Or use the following formula: After-tax Salvage Value = MV – T x (MV – BV) 1 PROBLEM 6 (Chapter 12) You must evaluate
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