Federal Taxation 2/10/2013 Questions: 21-2‚ 21-13‚ & 21-26 Problems: 21-53 & 21-63 Homework Week Six 21-2. What are the eligibility requirements that a corporation must meet in order to qualify under Subchapter S? Answer: In order to qualify under Subchapter S‚ a corporation must be a small business corporation. The following additional requirements must be met in order to be a small business corporation: 1. Must be a domestic corporation 2. Must have no more than 100 shareholders
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Corporation is the typical kind of corporation; it shields the liability of its proprietors‚ but obtains double taxation. 2. What is an S corporation‚ and how is it different from a C corporation? (0.5 points) S Corporation is a corporation that attains specific tax status and not all companies can attain this status. This tax status is the largest difference between S Corporations and C Corporations. 3. What is a nonprofit corporation‚ and how
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longitudinal in nature. Secondary waves (S-waves) are shear waves that are transverse in nature. The biggest difference between P and S waves is their velocity. P-waves travel more quickly than S-waves. P-waves can travel through solids‚ liquids and gasses. S-waves can only travel through solids. The method used to determine the distance from a location to the origin of a seismic wave less than 200 km away is to take the difference in arrival time of the P wave and the S wave in seconds and multiply by 8
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submission: 1/1. 2 Marks: 1 Record your answer from Lab Exercise #1‚ Step 1‚ Question 2. What time in hours:minutes:seconds GMT did the S waves arrive? Choose one answer. a. 01:51:30 b. 01:52:00 c. 01:53:10 d. 01:54:20 Correct Marks for this submission: 1/1. 3 Record your answer from Lab Exercise #1‚ Step 1‚ Question 3. What is the time lag (S-P) in hours:minutes:seconds? http://moodle.coastlinelive.com/mod/quiz/review.php?attempt=106847 9/15/2013 GLF13.10: Multiple Choice
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Common Tax Loopholes Salary/Dividend Manipulation Performance-based pay is not subject to §162(m) $1 million limit Corporations will pay a higher salary for performance rather than distributing dividends Avoidance of payroll tax burden S Corporations will lower their salary to lower taxes Accepting fringe benefits instead of salary Court Cases Reasonable Compensation Menard‚ Inc. v. Commissioner John Menard‚ founder and CEO of Menard‚ Inc. Salary was $157‚500 with bonus
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The file ACC 455 Week 5 Discussion Question 2 includes solutions to the following task: "What is an inadvertent termination of an S election? How does an S corporation and its shareholders rectify an inadvertent termination? What could happen if a company fails to rectify the termination?" Business - Accounting ACC 455 Week 5 ACC 455 Week 5 Learning Team Assignment Week Five Problem Set Complete the problems found in Ch. 9‚ 10‚ 11 of Federal Taxation 2010: Corporations with your
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Tax planning for corporate liquidation The Tax reform act of 1986(TRA) made significant changes to tax provisions which had influence on corporations. One of the most important changes was the deletion of the General Utilities doctrine; under a plan of complete liquidation it had given a tax relief for appreciated assets distribution. This essay illustrates tax law changes about corporate liquidations and suggests some tax planning strategies to mitigate the influence of TRA. Sec. 336 changes
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CUNY – Queens College ACCT 757 – Taxation of Business Entities Professor: Steven J. Mandelkorn Student: Wang Fang Lei Sole Proprietorships? Partnerships? LLC? S or C Corporations? Which One is the Best Solution? A few years ago‚ my husband sets up his own computer company‚ focus on providing computer services to customer. Before he starts doing the business‚ we went to a CPA firm to get a license to legally set up the new company. After collecting some basic information of our business‚ the
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SYNDICATE 7 } } Bottlenecks in the processing system at RP1 Excessive truck-waiting time and costs annoying the berry growers Excessive labour costs Poor berry grading system } } Wet Berries 58% System throughput rate : 1200 bbls/hr Wet Berries 70% System throughput rate : 1050 bbls/hr Wet Berries 70%‚ with a Dryer System throughput rate : 1200 bbls/hr 3500 3000 2500 Berries (bbls) 2000 58% Wet Berries‚ 11am Start 70% Wet Berries‚ 11am Start 70% Wet
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Assignment 8 (24 points) Assignment 8: The Business World Instructions Save this file in your course folder‚ and name it with Assignment‚ the section number‚ and your first initial and last name. For example‚ Jessie Robinson’s assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day‚ be sure to save
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