I live in an area called Fredrickson. It’s said to be upper middle class due to the Boing plant. Anyways if I go to the Walmart and shop the prices are different and so is the tax on the items I purchase I was surprised by this. Not only are the prices different but the items that the store carries differ from the others‚ this is the same with the Safeway store on Canyon rd. the stores are at opposite ends of the road and the prices are different the items are different they cater to the social status
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Correct Answer: | False | | | | | * Question 6 5 out of 5 points | | | For purposes of taxation of capital gainsAnswer | | | | | Selected Answer: | b. Gains on Section 1231 assets may be treated as long-term capital gains‚ while losses in some cases may be deducted as ordinary losses | Correct Answer: | b. Gains on Section 1231 assets may be treated as long-term capital gains‚ while losses in some cases may be deducted as ordinary losses | | | | | * Question 7 5
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Who did it? eBay avoided £ 50m in tax Starbucks paid less than 1% tax on its profit IKEA halved its tax bill Former Italian Prime Minister Bersculoni List goes on…. How do they do it? Special Purpose Entities (SPEs) Sister Company Round Tripping Tax havens Influencing audit committees Who is affected? Government Less of taxes Profits siphoned off to other countries Fiscal deficit General public Less spending from govt.‚ less benefits
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May 3‚ 2010 Tax File Memorandum Subject Peaceful Pastures Funeral Home Incorporated prepaid income treatment. Facts Peaceful Pastures Funeral Home Inc. is an accrual basis taxpayer who sells prepaid goods and services to clients that will be provided for them at the time of their death. Goods and services are refundable upon the purchasers request at any time until the contracts are fulfilled. Peaceful Pastures Funeral Home Incorporated is in need of determining the period of recognition
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Service Tax: Dr. Manmohan Singh‚ the then Union Finance Minister‚ in his Budget speech for the year 1994-95 introduced the new concept of Service Tax and stated that ’’ There is no sound reason for exempting services from taxation‚ therefore‚ I propose to make a modest effort in this direction by imposing a tax on services of telephones‚ non-life insurance and stock brokers.’’ Service Tax has been introduced in order to explore new avenues for taxation and to bring more people into the tax net. Service
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SOME OF THESE ANSWER ARE NO LONGER VALID AFTER THE END OF 2008. THOSE ITEMS ARE NOT ON OUR EXAM TOMORROW. 1. An audit of a government‚ conducted in accordance with generally accepted auditing standards (GAAS)‚ includes A. A determination of efficiency and effectiveness. B. An examination of financial statements and underlying records for conformance with generally accepted accounting principles (GAAP). It does this as well as generally accepted governmental auditing standards C. Tests
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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 lower the number of consumers in terms of smoking and drinking. But what is Sin tax? Sin tax is a kind of sumptuary tax. A tax specifically levied on certain generally
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behind tax breaks? Currently‚ class warfare has being wage against the wealthy and middle classes. Tax breaks are not for all classes. The elimination of tax breaks could help settle the conspiracy issues of class warfare. Everyone wants to live a good life and have equal opportunities and furthermore‚ we all know that is not new in our society. In our society today‚ arguments are still going on between Democrats and Republicans about the elimination of tax breaks. And the dispute of tax breaks is
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Tax Software Evaluation: IRS FreeFile Alicia Paulino University Of Maryland University College Letty Diai The reason why prospective user would use IRS FreeFile is because it’s a service available through the Internal Revenue Services (IRS)‚ which allows U.S taxpayers to prepare and e-file their federal tax return for free‚ either thorugh brand name software or online fillable forms. Free File is managed and operated by the Free File Alliance‚ a consortium of
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A value added tax (VAT) is a form of consumption tax. From the perspective of the buyer‚ it is a tax on the purchase price. From that of the seller‚ it is a tax only on the value added to a product‚ material‚ or service‚ from an accounting point of view‚ by this stage of its manufacture or distribution. The purpose of VAT is to generate tax revenues to the government similar to the corporate income tax or the personal income tax. Who Are Required To File VAT Returns • Any person or entity who
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