Income: from whatever sources derived Sec. 702(a)(8)- owners of partner and S corp – items subject to ord income treatment are lumped ‘S’-Corporation vs. Sole Proprietorships comparison: Note: 1 GI‚ Prop G/L‚ Prop Non-Recog‚ Sale and called 702 Income or loss. Recognized even if no cash is distributed. Accordingly‚ generally not (a) BOTH have single taxation; ‘S’ over Prop-(b)Liability shield except for personal profession of Business & Capital
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What Is Sickle Cell Anemia? Sickle cell anemia (uh-NEE-me-uh) is the most common form of sickle cell disease (SCD). SCD is a serious disorder in which the body makes sickle-shaped red blood cells. “Sickle-shaped” means that the red blood cells are shaped like a crescent. Normal red blood cells are disc-shaped and look like doughnuts without holes in the center. They move easily through your blood vessels. Red blood cells contain an iron-rich protein called hemoglobin (HEE-muh-glow-bin). This protein
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1950’s The 1950’s where so called the birth of popular music. The first half of the decade was run by popular music‚ or classic pop. This more vocal driven music had replaced the earlier big band style. Artists such as Nat King Cole and Frank Sinatra where the leaders of this age of traditional pop. Often the most popular musicians that play this genre also played very well on the television and sometimes they would be featured on music special shows‚ or perhaps even have a music variety of their
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French fashion label founded in 1983 by Jean-Lou Tepper‚ Jacques Nataf and Philippe de Hesdin. In 2004 their Australian clothing line ran a campaign asking the question “What would the world be without women?” In one particular advertisement we see a average man dressed in women’s clothing and holding a baby‚ with the question “What would the word be without women?” However the Australian clothing may have had the best intentions at heart to empower women and to challenge culture. This ad is asking
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Definition of Tax ; The word ‘tax’ has been derived from the French word ‘taxe’ and the Latin word ‘taxare’ which means ‘to charge’. Tax is a contribution exacted by the state. It is a non-penal but compulsory and unrequited transfer of resources from the private to the public sector‚ levied on the basis of predetermined criteria. According to P. E. Taylor‚ “ Taxes are compulsory payment to government without expectation of direct return in benefit to the taxpayer. According to
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Chapter 15: Preserving and Restoring Nature Student: ___________________________________________________________________________ _________3. The United States’ first two national parks are A. Glacier and Great Smoky Mountains. B. Yellowstone and Everglades. C. Olympic and Yosemite. D. Yosemite and Yellowstone. E. Great Smoky Mountains and Yellowstone. _________4. _________ is believed to be the first national park in the world. A. Glacier National
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and levies. It seems that government might have to collect more money either through VAT (Value Added Tax) or from direct taxes. In Bangladesh VAT introduced in 1991 by replacing the sales taxes is still known as the vital reform in Bangladesh revenue structure. The remaining potential sector is the income taxes sharing almost all taxes coming through direct sources. Tax base is too narrow and the tax law is full of exemptions and allowances. Agriculture sector provides employment for around 60percent
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Goods and Services Tax- Australia To uphold a country’s political and economical stability‚ governments often implement policies. There are many different types of policies that a government would implement to stabilize their country. However‚ one significant policy that almost every country uses is tax. In particular‚ Australia and Canada use a value added tax known as the Goods and Services Tax (GST). Australia’s GST policy was introduced by the Howard government and went into effect on July
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TAX HAVENS DEFINING Tax Havens • Def 1:A tax haven is a country or territory where certain taxes are levied at a low rate or not at all. • Def 2: Tax haven or fiscal paradise are terms used to refer to a jurisdiction which enables its foreign residents or companies to reduce their tax liabilities from their homelands. • Def 3: "What ... identifies an area as a tax haven is the existence of a composite tax structure established deliberately to take advantage of‚ and exploit‚ a worldwide
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Summarize the sources and objectives of modern income tax statutes. The primary source of US tax law is Congress. Power to initiate tax legislation is vested in the House of Representatives but all tax bills must pass both houses and be signed into law by the President. Many times the details of the legislation are not dictated by Congress‚ but left to the Treasury Department which adopts regulations (that have the force of law) to spell out the details as well as interpret the statutes and provide
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