Tax Research Problem 2-64 FACTS: Lisa and Matthew would like to form a new corporation‚ Lima Corporation. Lisa will be exchanging $50‚000 cash in exchange for 50 shares of stock in Lima. Matthew will be contributing land which has a $35‚000 adjusted basis and a $50‚000 FMV‚ also in exchange for 50 shares of stock in Lima. ISSUE: When assets are exchanged for stock and control in a newly formed corporation‚ what are the tax and financial accounting implications of those transactions to Lisa
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because I was intrigued about my president’s background and how he got to where he is. The book Dreams from My Father by Barack Obama captures Obama’s childhood‚ stories about his father‚ and his rocky route to success. Dreams from My Father by Barack Obama dictates that through uncertainty‚ racism‚ and bad choices he made his way to a prosperous life. -The book opens with Obama receiving a phone call from some distant aunt in Kenya that his father has died. -Then the story flashbacks to his childhood
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MILJÖFUNN - A NEW TAX INCENTIVE SCHEME FOR RETAILERS IN THE SERVICE SECTOR What investments are eligible to be subsidised by MiljøFUNN? Investments have to fulfill certain criteria in order to be eligible for the subsidy. The different criteria will be named‚ further defined and explained and justified in the following. 1. For an investment to be eligible for tax incentives under this scheme‚ it must have a clear positive effect on the environment compared to the current state of development in
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Barack Obama’s Presidential campaign made history‚ Not only was Obama the first African American to be elected president‚ but he was also the first presidential candidate to effectively use social media as a major campaign strategy. Social media activity rose rapidly in recent years and the bigger platforms touch people’s lives multiple times everyday.It is easy to lose sight given how global social media is today‚ that in 2008 sending out voting reminders on Facebook and interacting with people
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The political speech “A More Perfect Union” presented in Philadelphia by Barack Obama‚ discusses the issue of race as it has played a major role historically in the United States. He addresses the Reverend Wright argument and touches upon his own experiences as a black man. Obama’s objective was to persuade Americans to eliminate racial division for the good of all Americans. To obtain the interest of the audience‚ his speech consisted of rhetorical strategies. These strategies were emotional‚ ethical
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Samuel C. Kennedy Kacey Davis College Prep English 1 02 April 2017 Obama as President I remember that day so well. It was a cool blue day‚ and our new president was stepping up to give America a new and favorable piece of history. Everyone around me seemed to radiate the same feeling as me‚ a feeling of hope‚ of opportunism. People from all backgrounds‚ all classes. Everyone was just in a sense of joy. “The Minority finally had someone in their corner.” (Paula). I had a brief flashback
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Alfred Adler believed that childhood events are pivotal for the adult. Adler’s pivotal childhood events were the development of rickets. Adler’s development of rickets kept him from walking until the age of four and contracting a near-fatal case of pneumonia at age five. These events served to inculcate a lifelong ambition centered around becoming a physician in order to focus on the curing of deadly diseases. Adler said that “all people have moments when they feel inferior. For many‚ such moments
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Barack Hussein Obama‚ Jr. (pronounced /bəˈrɑːk hʊˈseɪn oʊˈbɑːmə/; born August 4‚ 1961) is the junior United States Senator from Illinois and the presumptive nominee of the Democratic Party in the 2008 presidential election. He is the first African American to be the presumptive presidential nominee of any major American political party. A graduate of Columbia University and Harvard Law School‚ Obama worked as a community organizer‚ served as a law school professor‚ and also worked as a political
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LAW INTERNAL ASSIGNMENT – II Case Analysis: R.S. Joshi‚ STO‚ Gujarat & Ors. Vs. Ajit Mills Ltd & Anr. Citation: AIR1977SC2279 Prof-in-charge: Prof Ashutosh Naik By- Swathi. A.P III BBA LLB ‘A’ Roll No. 23 Symbiosis Law School Ph: 7798627663 Name of the case: R.S. Joshi‚ STO‚ Gujarat & Ors. Vs. Ajit Mills Ltd & Anr. Citation: AIR 1977 SC 2279: (1977) 4 SCC 98: 1977 SCC (Tax) 536 Decided On: 31.08.1977 Bench:
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Statement: Tax cuts Increase economic activity‚ increase jobs and hence helps in increasing government revenue. Tax cuts stimulates economic activity: Firstly‚ Tax cuts on businesses and individuals give incentives for work and lead to increased savings and investment thus stimulating economic activities. People starts to work more hours and want to make more money as the taxes are quite low and they can get most of their profit in their own pockets. Production is increased due to tax cut on raw material
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