Properly documented * An expense of the taxpayer Expenditure is not deductable if it is… * A capital expenditure * Expense related to tax-exempt income * Illegal or in violation of public policy‚ or * Specifically disallowed by tax law Business or investment activity? – requirements have two parts * Activity must be engaged in for profit * Trade or business vs. investment classification – distinction important only to individuals * Expenses incurred in a trade or business
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ACC 622 Advanced Auditing Midterm Case 4.1 1. A close friendship between an auditor and the client can jeopardize the auditor’s appearance of independence. And I think when such close relationship begins influence the auditor’s thoughts when he or she makes very important decisions‚ the independence of an auditor has been compromised. The Rule 101 – Independence says: “A member in public practice shall be independent in the performance of professional services as required by standards promulgated
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benefits except hotel accommodation. Therefore‚ housing benefit will be assessed at $22‚100 because it is assessed based on the lower of (10% x 221‚000= $22‚100) or annual value of rental apartment of $60‚000. Home leave passage According to Singapore tax law‚ home leave passage is provided by the employer to nonSingaporeans and non-permanent residents‚ the benefit is assessable to tax based on 20% of the cost to the employer. This concessionary treatment only can apply to ONE return leave passage per annum
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A. Part I Tax: Federal Basic Tax 38% x TI (-) Abatement 10% x Canadian TI (-) SBD (CCPC): 17% of Least of ▪ ABI (Canadian‚ CY‚ Net of Loss) ▪ Adjusted TI ▪ Business Limit (500‚000) (+) Additional Refundable Tax (CCPC) 20/3% of Least of - AII - SBDQ (-) GRR: 11.5% (TI – SBDQ – AII – MPPDQ) (-) MPPD: 11.5% of Least of - ▪ M&PP – SBDQ ▪ TI – SBDQ - AII (-) Tax Credits: ▪ Foreign Tax Credit (Tax paid abroad) ▪ Fed. Political
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Dear Students This is a gentle reminder about the Final Examination of AF3110 Intermediate Accounting 1. Details of the Final Examination are as follows: ‐ Date: 8 December 2014 (Monday) ‐ Time: 7 pm – 10 pm (3 hours) ‐ Venue: SH2‚ Sports Hall 2‚ Kwong On Jubilee Sports Centre (Communal Building) ‐ Scope: All Lessons ‐ Format: Closed book examination ‐ Question type: Essay (31.5%)‚ Computational (25%) and Journal Entries (43.5%) Additional Instructions: You are reminded to study all teaching materials
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China Taxation: Interpretation An Approach to Chapter 1An Overview of Taxation INTRODUCTION The People’s Republic of China has established what is perhaps the most sophisticated and complex taxation system in the world today. This system of taxation has an impact on almost every business and investment decision. Decisions a business enterprise must make‚ such as the form it will take (i.e.‚ sole proprietorship‚ partnership‚ or company)‚ the scope and nature of its operations‚ and the
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COURSE NAME: Bachelor of Business‚ Procurement and Supply Management (BBUS) MODULE: Business Law MODULE CODE: OD003 LEARNER NUMBER: s416711 DATE OF SUBMISSION: 14/02/14 WORD COUNT: 2012 TABLE OF CONTENTS Page Introduction 3 1. Intention to create legal relations – A fundamental issue 4 2. Social and Domestic agreements 5/6 3. Commercial and business relations 7 3.1 Honour clauses 7 3.2 Promotional puff and free gifts 7/8 3.3 Ex gratia payments and without prejudice
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DOWNLOAD http://www.supportonlineexam.com 1) Which of the following is a distinguishing feature of a common law legal system? A. An appeal process B. The making of law by the judges and the following of precedent C. The sole source of law is a comprehensive civil code D. Requiring guilt be proven beyond a reasonable doubt 2) Which of the following is true about litigatingcommercial disputes? A. A few states have established specialized trial courts for commercial disputes. B. Businesses generally
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ASB-3212 Taxation: 2012/13 Lecture 1 - The framework of UK taxation Lecturer: Sara Closs-Stacey FCCA CTA Email contact: abs614@bangor.ac.uk Essential text “Taxation –policy and practice 2012/13” Lymer and Oats. ACCA Paper F6 Taxation complete text FA2012 Course text can be obtained from: www.taxstudent.com ; amazon university bookshop and Kaplan publishing website. Outline of lecture Discuss historical background of taxation Main features of UK tax today Collection systems‚ legal
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Double Taxation Avoidance Agreements (DTAA) The Double Tax Avoidance Agreements (DTAA) is essentially bilateral agreements entered into between two countries‚ in our case‚ between India and another foreign state. The basic objective is to avoid‚ taxation of income in both the countries (i.e. Double taxation of same income) and to promote and foster economic trade and investment between the two countries. The advantages of DTAA are as under. ADVANTAGES AND DISADVANTAGES OF DOUBLE TAXATION AVOIDANCE
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