Abstract In Tschetschot v. Commissioner‚ 93 TCM 914 (2007)‚ the tax court ruled that taxpayer’s losses from participating in tournament poker were limited to the amount of her winnings. The court held that tournament poker is‚ despite its differences from other types of poker‚ essentially a wagering activity and therefore should not be treated differently from other forms of gambling for tax purposes. The court also rejected the taxpayer’s equal protection argument to treat tournament poker as sports
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background of the character is just as interesting as the character then the stories themselves. While Sherlock Holmes was not a real person‚ he was inspired by a real life doctor and master of deduction (Liebow). Holmes’ best know methods of detective work are his superhuman observation skills and deductions based on what he sees. Joseph Bell‚ a pioneer of pediatric medicine and surgery‚ who taught Doyle while he was at medical school was know to deduce his patients to help diagnose their ailments
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NAME ________________________________________________ Version 1 ACCT 5413 Entity Taxation Quiz Chapters 2 and 3 1. The domestic production activities deduction (DPAD) is available to organizations with domestic production activities. Answer: TRUE 2. A corporation can be subject to both the accumulated earnings tax and the personal holding company tax in the same year. Answer: FALSE 3. The alternative minimum tax is the excess of the tentative minimum tax amount over the regular
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* Yes Abigail can file a federal income tax return depending on her income. * When filing her own return‚ Abigail’s standard deduction will be limited to the greater of $950 (2012) or the sum of her earned income plus $300. However if this exceeds the standard deduction she will be limited to the basic standard deduction. She will be allowed the additional deductions for being over 65 and blind. 13-Patsy maintains a household that includes her son (30) and her cousin (28). She can claim her cousin
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Direct Tax AMENDMENTS CA FINAL – MAY 2014 AMENDMENTS –DIRECT TAXES- CA FINAL –MAY 2014 Tax Rates AMENDMENTS –DIRECT TAXES- CA FINAL –MAY 2014 There are no changes in tax rates for FY 2013-14 except levy of surcharge at various levels. Tax rates for different assessee’s for FY 2013-14 is as under: Individuals‚ HUF‚ AOP and BOI Total Income FY 2013-14 Upto INR 200‚000 NIL INR 200‚001 to INR 500‚000 10% INR 500‚001 to INR 10‚00‚000 20% INR 10‚00‚001 & Above 30%
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Tax Research Case Travel expense deduction A551 fall 2012 December 4‚ 2012 I. Facts The tax payer‚ Miss Teecher‚ is a teacher who teaches Latin American in high school for 4 years. She is 28 years old and single. She plans to have a travel to South America from June 4 to June 11 through the local university. She thinks it is a business travel since it can enhance his teaching abilities. She plans to spend about 2‚000USD during the trip. She wants to take 2 days to have sightseeing. Her
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who made this project possible. Your contributions have been immensely helpful. INDEX TABLE OF CONTENTS 1. List of Tables i 2. Introduction 1 3. An Extract from Income Tax Act‚ 1961 6 4. Computation of Total Income 13 5. Deductions from Taxable Income 46 6. Computation of Tax Liability 53 7. Tax Planning - Recommendations and Useful Tips 58 8. Bibliography 86 List of Tables Table 1: Tax Rates for A.Y. 2007-08 - For Resident Male Individuals below 65 years of
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manual labour and produce accurate results for salary and related calculations. Payroll System with Time keeping and Fingerprint refers to the records - paper or electronic - and calculations that you make to work out your employees’ pay and deductions
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government. Government would rewrite or make new tax code or regulations to defense new coming way of tax avoidance. In the next 3 chapters‚ I would talk about 3 strategies for company‚ delay income and accelerate deductions‚ Tax loophole‚ and Tax haven. Delay income and accelerate deductions is the most reasonable‚ and safety way. Tax loophole are like on the backdoor of tax law‚ once the tax regulations been rewrite in time‚ the loophole would not exist. And tax haven are obviously different with other
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