With respect to the prepaid income from services which of the following is true? The treatment of prepaid income is the same for tax and financial accounting. An accrual basis taxpayer can spread the income over the period services are to be provided if all of the servidcdes will be completed by the end of the tax year ^^^answer The effects of a below-market loan for 450‚000 made by a a corporation to its chief The corporation has imputed interest income and compensation expense. As a
Premium Tax Generally Accepted Accounting Principles Income tax
CRIME AND POLICING IN NIGERIA: CHALLENGES AND OPTIONS Etannibi e.o. ALEMIKA Innocent c. Chukwuma CLEEN Foundation Page 2 6/29/2005 © CLEEN FOUNDATION 2004 ISBN: 978-35160-9-4 CLEEN FOUNDATION 1A Afolabi Aina street Off Allen Avenue Ikeja‚ Lagos – Nigeria Telephones: 234-1-4933195; 4935338; 4935339 E-Mail: cleen@cleen.org CLEEN Foundation Page 3 6/29/2005 TABLE OF CONTENTS Aknowledgements v Preface Etannibi E.O. Alemika and Innocent C. Chukwuma vi Welcoming Address
Premium Crime Police Criminal justice
Immigration Reform by Dawn Peck Have we really become that selfish of a nation to just disregard the reasons immigrants migrate from their birth countries? So just because they were not born in this country‚ we should not be protective of their rights as human beings? How about the fact that society has even categorized these individuals with the label of immigrant‚ for me‚ we are not living up to the American standard of peace & equality for all. The current treatment of immigrants
Premium United States Immigration to the United States Immigration
FEDERAL INCOME TAXATION OUTLINE Gross Income Gross Income Defined (§61) – except as otherwise provided‚ gross income means all income from whatever source derived‚ including (but not limited to) the following items: Compensation for services‚ including fees‚ commissions‚ fringe benefits‚ and similar items; Gross income derived from business Gains derived from dealings in property Interest Rents Royalties Dividends Alimony and separate maintenance payments Annuities Income from life
Premium Tax Property Property law
Welfare Reform: A Permanent Solution or a Temporary Band-Aid? Welfare: handouts to the lazy‚ or a helping hand to those facing hard times? The debate continues‚ even in the face of sweeping welfare reform‚ which‚ for all of its sound and fury‚ has not helped or changed much. What’s wrong with welfare and how can we fix it? This is not a simple question‚ and there is no simple answer. However‚ one thing remains eminently clear. Welfare desperately needs to change. But where are we now? Are we
Premium Welfare Welfare fraud
Indirect tax Section 1 This section is about applying your knowledge of VAT and using reference material to make recommendations or decisions. Task 1.1 (a) You have the following information about the taxable supplies of 4 businesses. For each of them‚ indicate whether they need to register for VAT immediately‚ or monitor turnover and register later. Tick ONE box on EACH line. Register now Monitor and register later A A new business with an expected turnover of £6000 per
Premium Invoice Tax Output
or during the lifetime of both the donor and the donee. The former is known as “donation mortis causa” subject to estate tax while the latter is known as “donation inter vivos” subject to donor’s tax. Consequently‚ transfer taxes‚ which are typically assessed on the net value of the taxable assets transferred‚ fall into two basic categories‚ namely; estate tax and donor’s tax. Business taxes are Succession is a mode of acquisition by virtue of which‚ the property‚
Premium Inheritance Marriage
The debt crisis of Nigeria and Greece Introduction National debt is a problem that can inflict any country including the developed countries. Almost all countries go into budget deficit one way or the other and end up borrowing money. The most direct effect of the government debt is to place a burden on future generations of taxpayers. When these debts and accumulated interest come due‚ future taxpayers will face a difficult choice. Inheriting such a large debt cannot help but lower the living
Premium Finance Debt Balance sheet
Kong people today are taking an unbalanced diet. It is not uncommon for us to take in meals which are often full of saturated fats. In order to alleviate this problem‚ one useful way is to introduce ‘fat tax’ on foods high in saturated fat. In 2011‚ Denmark has implemented the world’s first fat food tax‚ levying a surcharge to food with more than 2.3 percent saturated fats. According to the Associated Press‚ saturated fats may lead to cardiovascular disease and cancer. In an effort to reverse this trend
Free Nutrition
Youth Unemployment in Nigeria INTRODUCTION Nigeria is the most populous country in Africa and the eighth most populous country in the world with a population of 154‚ 729‚000 citizens. Our nominal GDP is $207. 116 billion and we have a nominal per capita income of $1‚ 4011. Nigeria also has the second largest economy in Africa. If I may ask‚ is this country not blessed? Yet‚ it is still plagued by youth unemployment which had been one of our major problems in recent years. Both government and
Premium Unemployment Inflation Economics