Individual Tax Research and Planning Midterm Chapter 1 20. Discuss what is meant by the term “double taxation” of corporations. Develop an example of double taxation using a corporation and shareholder. The term “double taxation” refers to the taxing of the same income twice. This type of taxation typically results from a C corporation paying tax on its taxable income and shareholders paying income tax on any dividends received from the C Corporation. The impact of double taxation
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Fringe Benefit Tax (FBT): • Fringe benefits tax (FBT) is paid on certain benefits employers provide to their employees or their employees’ associates in place of salary or wages. • Fringe: Not part of the mainstream; unconventional‚ peripheral‚ or extreme. • The FBT should be a major concern for the Vybhav Corporation when they planned to increase the fringe benefits. • Employee welfare‚ health club sports and similar facilities. 30 percent. • The employer pays the FBT but many of them recover
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* Question 1 5 out of 5 points | | | An artist’s painting is not a capital asset when held by the artist.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | * Question 2 0 out of 5 points | | | Taxpayers are allowed to offset net short-term capital losses with net long-term capital gains.Answer | | | | | Selected Answer: | False | Correct Answer: | True | | | | | * Question 3 0 out of 5 points | | | Net short-term
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Federal Income Tax Professor Lon Sobel Southwestern Law School Study Guide Fall 2010 Copyright © 2010 by Lionel S. Sobel SCALE – Federal Income Tax SCALE – Federal Income Tax Southwestern Law School FEDERAL INCOME TAX Syllabus‚ Course Requirements‚ and Grading Criteria Professor Lon Sobel SCALE II- Period 4 Fall 2010 PHONE: 213-738-6756 EMAIL: lsobel@swlaw.edu OFFICE: BW325 ___________________________ I. COURSE MATERIALS A. Required Text or Course Materials The assigned readings
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Legislative Worksheet (SBAR Format) – How a Bill Becomes a Law SITUATION: IS THIS SOMETHING THAN CAN BE LEGISLATED? Identify the problem/concern: Fatigue (commonly compassion related) among caregivers in the health care industry. Many nurses who work in palliative care or with terminally ill patients often suffer from compassion fatigue and burn out. This leads to less motivation among nurses and nurses becoming unsatisfied with their career and or workload. State your proposal/idea.
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Procedure for Assessment and Collection of Tax Course: Taxation Management Semester: Summer’2010 Submitted By: Atiqua Masood Saya (8090) Preeti Adwani (7958) Shumaila meer (7583) Shafaq Zehra Rehmani (12044) Urooj Bibi (7218) Submitted To: Mr. Farrukh Ansari Submitted On: 25st July’ 2010 LETTER OF ACKNOWLEDGEMENT
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and Use Tax a. USE TAX 1. Tax on storage‚ use or other consumption in the sate of tangible personal property. 2. Assessed upon “tax free” personal property purchased by a resident of the assessing state for use‚ storage‚ or consumption of goods in that state regardless of where the purchase too place. 3. The use tax is typically assessed at the same rate as the sales tax that would have been owed (if any) had the same goods been purchased in the state of residence. Typical "tax free" purchases
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large jury verdict on behalf of his client in a personal injury case. His wife Jane Smith accompanies him during your meeting because she has some additional tax planning advice to ask of you. ROLE: After reviewing John and Jane Smith’s points of view‚ it will be your turn as a tax professional to decide on the best course of action from a tax perspective on their issues. Prepare a three page memo (at least 900-1‚500 words per page) to John and Jane Smith addressing the issues presented. PLAYERS:
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Income Tax Act 1961 Assessment Year: The period of twelve months starting from April 1 of every year and ending on March 31 of the next year. Previous Year: Income earned in a year (Previous year) is taxable in the next year (Assessment Year). Income earned during the previous year (PY) 2011-12 is taxable in the Assessment year (AY) 2012-13. From the AY 1989-90 onwards‚ all assesses are required to follow the financial year April 1 to March 31 as previous year for all sources of income
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policy making". If we consider the health policy triangle‚ context plays a vital role‚ but is also influenced or inter related to other factors that can affect a policy such as content and process. Contextual factors that can affect the SSBs tax will be discussed under the following relevant headings; situational factors‚ structural factors and cultural factors. Situational factors
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