Ninad J Panchakshari Mcom. FCA‚ Nashik What is Tax Planning? Tax planning is an essential part of your financial planning. Efficient tax planning enables you to reduce your tax liability to the minimum. This is done by legitimately taking advantage of all tax exemptions‚ deductions rebates and allowances while ensuring that your investments are in line with your long-term goals. However in a broader sense tax planning is not to save the tax for current financial year but also make an effective
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production‚ while keeping waste to a minimum and how will affect developed and developing countries?” World hunger affects about 795 million people‚ and the vast number of the hungry in the world live in developing countries‚ but it also affects developed countries as well. Two possible solutions to feeding the growing population is to teach about the importance of food security and to improve food aid for developing countries. The first solution to feeding a growing population is to teach about food security
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when a new corporation is formed or may reflect additional capital contributions to an existing corporation. Without Section 351‚ a sole proprietorship or a partnership would have difficulty adopting the corporate form of organization for legal and/or tax purposes because the transfer of appreciated property would constitute a taxable transaction in a recognized gain. The deferral of gain or loss under Section 351 can be justified because the assets have merely been transferred to a corporation that
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BY THE INCOME TAX ACT ------------------------------------------------- Tax Exemptions are a deduction allowed by the law to reduce the amount of income that is subject to tax‚ these exemptions come in many forms but what they have in common is they reduce or entirely eliminate tax obligations. These exemptions can be categorized into two‚ exemptions based on the identity of the receipt and exemptions based on the nature of income .The amounts which enjoy exemption from income tax by reason of
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social security number Alice Johnson 222-23-3334 CAUTION ! To take the making work pay credit‚ you must include your social security number (if filing a joint return‚ the number of either you or your spouse) on your tax return. A social security number does not include an identification number issued by the IRS. Only the Social Security Administration issues social security numbers. You cannot take the making work pay credit if you can be claimed as someone else’s dependent or if you
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except for personal profession of Business & Capital assets‚ Entities not taxed on distributions. Compute: Ord Income (including Sec 1245 recap); less: Exclusions; liability;(c) profits allocated to owners are not subject to FICA/FUTA(payroll tax advantage); - Exclusions and Deferred Comp less: COGS (result Gross Income); less: Op Exp (including depr‚ sal exp‚ rent exp‚ repairs/maint‚ (d)ownership of S can be ‘gifted’ to children; not with Prop;(e)(HUGE)Gain on sale S-corp stock Gross
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Causes and Effects of Smoking Cigarettes By Andrew Fowler 21% of American adults are current cigarette smokers‚ making the tobacco industry one of the largest industries in our country. With around 400‚000 smoking related deaths per year in the United States‚ it’s also incredibly deadly. Smoking can affect you negatively in many ways‚ both quickly and slowly. Causes of Smoking One of the biggest reasons people start smoking cigarettes is most likely peer pressure. Smokers typically start smoking
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NCOME-TAX ACT‚ 1961* [43 OF 1961] [AS AMENDED BY FINANCE ACT‚ 2012] An Act to consolidate and amend the law relating to income-tax and super-tax BE it enacted by Parliament in the Twelfth Year of the Republic of India as follows :— CHAPTER I PRELIMINARY Short title‚ extent and commencement. 11. 2(1) This Act may be called the Income-tax Act‚ 1961. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act‚ it shall come into force on the 1st day of April‚ 1962. Definitions
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| HEALTH-PHILIPPINES Young Lives Up in Smoke By Kara Santos | MANILA‚ Feb 15‚ 2010 (IPS) - Whether they choose to light up their first cigarette on their own or are unwitting victims of passive smoking‚ Filipino youth are increasingly at risk from tobacco exposure. "The younger a child starts to smoke‚ the greater the chances of becoming a regular smoker‚" said Dr Maricar Limpin‚ executive director of the non- government group Framework Convention on Tobacco Control Alliance Philippines
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The production and sale of cigarettes should be made illegal Nowadays in the present world smoking cigarettes has become a trend for every age of people and they take it as a fashion. A statistics shows that nearly $8.37 billion are used by the cigarette industries on advertising and promotions annually. And almost $23 million are used every day for the same purpose. The production and sale of cigarettes not only has negative impact on human health‚ it can even cause death. Because of smoking
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