Tax file memorandum Subject: Profit or Loss from business I. Facts: In early 2010‚ Walter Hodges became interested in the real estate market so he initiated his investigation into the real estate market. Mr. Hodges intended to acquire real estate with the intentions for investment or rental. Mr. Hodge has no previous knowledge or exposure to any real estate rental or investment industry. As a result‚ Mr. Hodges began in Spring 2010 to advertise and expose his business through
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IMPACT OF TAX REFORMS SINCE 1991 Tax reform since 1991 was initiated as a part of the structural reform process‚ following the economic crisis of 1991. Direct Tax Reforms: 1. As per the recommendations of the TRC the personal tax brackets were only three‚ of 20‚ 30‚ and 40% starting in 1992–93. Financial assets were excluded from the wealth tax‚ and the maximum marginal rate was reduced to 1%. 2. Further reductions came in 1997–98‚ when the three rates were brought down further to 10‚ 20‚
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Tax is of two types Direct Tax and Indirect Tax. Direct Tax is the tax‚ which is paid directly by people to the government‚ while indirect tax is the tax‚ which is paid indirectly by people to the government. Income Tax is paid directly to the government therefore it is a direct tax while excise duty is paid by people to the manufacturer who pays it to the government‚ therefore it is an indirect tax. The Constitution of India (COI) has given power to levy tax to central and state government
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Exploring the Relationship Between Cigarette Smoking Among Adolescents and Adults in the United States Cindy Tworek‚ MPH‚ MS Gary Giovino‚ PhD‚ MS Jun Yang‚ MD‚ PhD Melanie Wakefield‚ PhD K. Michael Cummings‚ PhD‚ MPH Frank Chaloupka‚ PhD April 2003 Research Paper Series‚ No. 26 ImpacTeen is part of the Bridging the Gap Initiative: Research Informing Practice for Healthy Youth Behavior‚ supported by The Robert Wood Johnson Foundation and administered by the University of Illinois
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talking about the most important two countries in the world. When I graduated from high school in my country Saudi Arabia I was not thinking about to study out of the country. I applied for King Abdul-Aziz University in Jeddah I have been there for just one month until my brother asked me to go to United State of America. I had no idea what are the difference between my country and America when I arrived to America I saw too many difference between my country and U.S such as Food‚ Cost.
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the alcopops tax is to correct for the negative externalities which abusers of alcopops impose on society. Using diagram(s) discuss how a tax on alcopops can correct for negative externalities associated with excessive consumption of alcopops. In a publication by University of Southern Queensland (2008)‚ it defines that ‘excise taxes are taxes imposed on sellers of certain goods and services‚ and they are usually substantially higher tan sales tax on regular goods’. Moreover‚ ‘tax incidence is
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And you would be right in that assessment. What if I stopped you on the street and had 10 people agreeing that you should give me the money? Would it still be theft? Of course it would. How about 100 people? 1‚000? 10‚000? 1‚000‚000? At what point does it no longer qualify as theft‚ robbery or extortion? If your answer is “never” then you’re not only a rational human being‚ but you also agree that taxes are theft‚ though you may not have realized it. Because that’s exactly what the government
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interaction exists between human health and the environment. Hence‚ when tobacco cigarettes contribute massive and various pollution into the environment‚ electronic cigarettes have obvious advantages‚ such as less pollution for reducing environmental pollution. Since the major sources of tobacco cigarettes’ pollution are the planting of tobacco‚ waste of cigarette butts‚ and depletion of soil‚ electronic cigarettes‚ depending on their refillable and long-term property‚ are a good alternative to
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MEMORANDUM To: S. Partner‚ C.P.A. From: Nicole J. Badalamenti‚ J. Accountant Date: August 27‚ 2012 Subject: Mr. B. Potato I FACTS Mr. B. Potato‚ a wealthy real estate investor‚ recently purchased a house on a parcel of land for $400‚000. The house was appraised at a value of $300‚000 and the land had an appraised value of $100‚000. Mr. Potato plans to tear down the house and replace it with a new house worth $1‚500‚000 with the intentions of living in
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common to our country‚ because the price of cigarettes is very cheap and it is always available in the market. As an answer to the problem‚ the Philippine government pass a law called the “Sin Tax Bill”. The President said that this law was signed because they thought it serves as an early “Christmas gift” to millions of Filipino’s who will be discouraged from smoking and drinking. But is the Sin Tax Bill on tobacco will be beneficial or unprofitable? Sin Tax Bill aims to
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