Memo To: John & Jane Smith From: Date: Re: Memo summarizing various tax issues 1. John Smith ’s tax issues: Issue a) How is the $300‚000 treated for purposes of federal tax income? John Smith’s earned income of $300‚000 will reported as gross income either on Schedule c of the individual return or as gross income on the LLC return. As a result of the variance in the state laws as to whether or not a single person LLC can report on a business return is the reasons why it could be
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To: Penelope‚ Mark‚ and John From: Date: December 8‚ 2013 Subject: Entity Selection Facts: After 20+ years of working for other firms‚ Penelope (enrolled agent‚ age 41)‚ Mark (CPA‚ age 43)‚ and John (CVA‚ age 65) want to leave the firms they are currently employed by and become their own bosses. Penelope specializes in taxes‚ Mark is the auditor‚ and John is a business valuation expert. There are so many options available as to how they can structure the new business. The appropriate business
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We are Chris and Pat Smith‚ and we are entrepreneurs with five years of experience and we like to invest in small businesses. We decided to invest in this catering company with the two chefs J.P. Martin and L.L. Miller‚ who have culinary science degrees and five years of work experience‚ which includes winning a prestigious prize in a gourmet food competition. So we all decided to set up a catering service called “At Your Service”. This catering service was set up to provide services for wedding
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The film “Get Rich or Die Tryin” tells about the life of 50 Cent one of Americas most popular and successful Hip-Hop stars. The Drama is directed by Jim Sheridan who was nominated six times for the Oscar before. Marcus (50 Cent) grew up in a tough New York neighborhood and was left alone after his mother was murdered when he was a kid. Marcus fell in with a crime boss and he had the opportunity to have a good live by selling drugs for him. As time goes by‚ Marcus has misgivings about his life as
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Right to Die Kazaray Rieckhoff Rasmussen College Author Note This paper is being submitted on September 18‚ 2014‚ for Ann Never’s M230/HSC2641 Section 08 Medical Law and Ethics course. Right to Die For this week’s written assignment we are to go over the Nancy Cruzan case and to go through the seven-step decision model to determine where or not the decision made was ethical. This model is designed to look at the facts of each case and to decide if ethical decisions are being made
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Semper Fi: Do or Die The film Full Metal Jacket is an intense and gritty examination of the United States Marine Corps basic training program and following that‚ the Marine grunts’ experiences in Vietnam in 1968 during the Tet Offensive. Expertly directed by Stanley Kubrick and premiering in 1987‚ Full Metal Jacket is Private Joker’s story‚ is narrated in his voice‚ and the viewer sees the conflicts through his eyes. It is a film worth watching for the caliber of acting‚ for the illustrative plot
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Business Associate Contract John Guillory MIS565 Healthcare Security & Privacy Professor Joseph Woodside April 5‚ 2015 Overview of Health Insurance Portability Accountability Act (HIPAA) Privacy Rule The HIPAA privacy rule is a basic threshold promulgated by the US Department of Health and Human services (HHS) for the protection of health information and it applies to three sets of organizations‚ usually referred to as “covered entities” (US Dept. Health and Human Services). On April 5‚ 2015
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Raymond Burke’s idea is great. It gives us the safest hit in the new market and keeps our risk low. The con is that we might lose our technological advantage in 2 years. Another con is that we lose most of our control and money if we partner with an existing company. Kathy Lee’s idea brings up a lot of concerns. She wants to keep complete control of the vehicle and only market it to the select few that are already devoted to us. The pros of this are that we keep our tech advantage to ourselves
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During these troubled times it is important to evaluate all possible economic strategies in order to apply the appropriate remedy which will alleviate our current economic ailments. We need to take the appropriate measures that will deal with specific problems such as the current recession‚ the unemployment rate and to create a stable inflation rate. After thorough consultation with colleges it is my opinion that the appropriate response during this economic downturn is to take an expansionary
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As the lead surgeon and the sole decision maker for all transplant cases‚ I have a dilemma on my hands. I had just received a call and was notified that a heart has become available for a transplant. I currently have 3 patients that are candidates for this heart. Time is of the essence; therefore I have decided to give the heart to Jerry‚ a 55 year old‚ married and father of 3 children. I believe Jerry is the best candidate for the transplant because of his overall situation. As I mentioned before
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