Shane Fitzgerald ACC 413-0001 – Concepts and Strategies of Taxation Research Memo RE: Deductions for medical expenses September 22‚ 2011 Facts:Janice was injured in an accident and prescribed 6 months of physical therapy in a swimming pool. She does not live within an hour of the nearest public pool and wants to build a pool in her backyard. Janice lives alone and her annual Adjusted Gross Income is $50‚000. Issue: Is the cost to build and maintain a pool for Janice in part‚ or completely
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accounting with the rapid growth of technology today‚ there is no doubt that computer will become a common asset of all profession.(Google‚2012)In a company‚ payroll is the sum of all financial records of salaries for an employee‚ wages‚ bonuses‚ and deductions. In accounting‚ payroll refers to the amount paid to employee for services they provided curing a certain period of time. Payroll plays a major role in a company for several reasons. From an accounting perspective‚ payroll is crucial because payroll
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Calculate and output the employee’s gross pay‚ deductions‚ and net pay. Deductions include the following: Federal Withholding Rate 18% of gross wages State Withholding Rate 4.5% of gross wages Hospitalization $25.65 Union dues 2% of gross wages Use CONSTANT definitions for the deductions. Output ·employee initials; gross wages; amount of federal withholding; amount of state withholding; amount of hospitalization; amount for union dues; total deductions; net wages. Your output should be formatted
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2013 Edition STUDY SYSTEM ACCA Paper F6 | TAXATION (RUSSIA) ATC International became a part of Becker Professional Education in 2011. ATC International has 20 years of experience providing lectures and learning tools for ACCA Professional Qualifications. Together‚ Becker Professional Education and ATC International offer ACCA candidates high quality study materials to maximize their chances of success. In 2011 Becker Professional Education‚ a global leader in professional education‚ acquired
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important and easy-to-collect revenue item. Its claim on the resources of the tax administration is limited‚ particularly if return filing by employees is restricted to those who earn substantial other income or are entitled to significant special deductions‚ or both. A simple PAYE does not complicate the employer’s wage administration. Compliance control can focus on employers only‚ rather than on individual employees. Nonconsolidation with other income is more acceptable when other income is also
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Chapter 1 – Cumulative Software Problem Answer 1-1 Comprehensive Problem 2 1040 Form Department of the Treasury—Internal Revenue Service (99) U.S. Individual Income Tax Return Last name 2011 ‚ 2011‚ ending OMB No. 1545-0074 ‚ 20 IRS Use Only—Do not write or staple in this space. * For the year Jan. 1–Dec. 31‚ 2011‚ or other tax year beginning Your first name and initial If a joint return‚ spouse’s first name and initial See separate instructions. Your social
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1878/Ahd/2009[Revenue] "1. The Ld.CIT(A) has erred in law and on facts in deleting the disallowance on account of sales promotion expenses amounting to Rs. 48‚935/-. 2. The Ld.CIT(A) has erred in law and on facts in deleting the disallowance of claim for deduction u/s 80IA from revenue of sharing of cell site of Rs.2‚75‚30‚602/-. 3. The Ld.CIT(A) has erred in law and on facts in deleting the addition to the book profit of Rs.9‚52‚20‚000/-on a/c of provision for municipal taxes for the computation of MAT
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many possible errors that may encounter but if the payroll is computerized‚ payroll clerks will not need calculator to compute the salary of the employee. Payroll is the sum of all financial records of salaries for an employee‚ wages‚ bonuses and deductions. In accounting‚ payroll refers to the amount paid to employees for services they provided during a certain period of time. (Wikipedia) The employer are required to hold back the part of each employee’s earnings because the money will be used for
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It states the hours of work expected‚ breaks and a description on holiday entitlement‚ when to book and how. It explains that a criminal records bureau check is a necesity and how much I will be paid and how. About the company’s rights to make deductions for overpaid or damages. It details of notice of termination‚ by either party
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and‚ with the anticipated growth of the company that requires employing more people‚ payroll expertise was needed to ensure compliance. CASE SUMMARY GUIDELINES: Who are the stakeholders? INTERNAL 1. Employees – want accurate pay with proper deductions; 2 key employees in payroll are in over their heads and need help 2. Company’s President /Owner – similar to employees but also interested in what the reporting capabilities can tell them about the company in relation to reward‚ performance and
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