Property Tax Essays (Examples)

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Property the Difficulty of Reforming

Words: 880 Length: 2 Pages Document Type: Essay Paper #: 50067928

Although Daggett's proposal is harsh, the next governor should consider instating this measure, or a similar type of proposal.

The reason for high property taxes in New Jersey is multifaceted. In theory, property taxes are supposed to be equal in the aggregate: "Equalization as between individual properties within a municipality is an ongoing function. It is an important concern since its aim is to stimulate a continuous striving to ensure each individual parcel of property bears its just share of the property tax burden," but the rise of high-cost properties in districts with a substantial middle class population have made this goal of proportionality elusive (Short and simple, 2009, NJSLOM). In recent years, the poor and middle class have assumed a disproportionately large burden of supporting local budgets relative to the value of their property in the state.

hile a more equitable balancing of the tax burden by creating more…… [Read More]

Works Cited

Lu, Adrienne. (2009). Daggett says he'd cut N.J. property tax burden. Inquirer Trenton Bureau.

Retrieved October 4, 2009 at http://www.philly.com/philly/business/homepage/20090930_Daggett_says_he_d_cut_N_J__property_tax_burden.html

NY, NJ highest payers of property tax: Report ranks 775 counties by taxes paid; why are taxes increasing and what can you do about it? (2006, October 4). CNN Money.

Retrieved October 4, 2009 at  http://money.cnn.com/2006/10/03/pf/property_taxes/index.htm
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Tax Law Letter Mr And Mrs Bob

Words: 1492 Length: 5 Pages Document Type: Essay Paper #: 73692632

Tax Law Letter

Mr. And Mrs. Bob and Anna Diamond

I would like to start by thanking you for entrusting me with guiding you as you plan this next phase of your financial growth. Tax considerations are an important part of ensuring your financial independence and security at any time, and after retirement they can become some of the most significant factors and forces of change in a family's financial position. It is wonderful that you are pursuing your various options in such a considered and careful manner, and I am more than happy to help you in this process of growth and change in your lives.

It is my understanding that you are considering several different property purchases and other methods for generating income through the renting of properties you do or will own. Specifically, you are exploring the possibilities of letting out rooms in the house that you…… [Read More]

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Tax Returns for Partnerships and C Corporation

Words: 595 Length: 4 Pages Document Type: Essay Paper #: 15269600

Tax Returns for C Corporation and Partnerships

Tasty Treats and Beverages is a registered company in the United States. The company was incorporated in 2004, and operates under the C Corporation for the tax purpose. A C-corporation refers as a business entity subject to the federal income tax. A company operating under the C Corporation can enjoy host of tax credit that can assist it to enjoy a tax reduction that the company has to pay to the federal government. This paper uses the excerpt from the Tasty Treats & Beverages, Inc. annual income statement to prepare the tax return for the company.(See Appendix 1).

Tasty Treats & Beverages, Inc.

Income Statement ($)

For year ended December 31, 2013

Revenue from sales

1,500,000

Total Expenses

(885,050)

Income before taxes

284,450

Federal income tax expense

96,713

Net income after taxes

187,737

As being revealed in the company statement of income data,…… [Read More]

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Tax System of One Country With That

Words: 4394 Length: 15 Pages Document Type: Essay Paper #: 98725627

tax system of one country with that of another is an exercise fraught with dificulties and ultimately doomed to failure . tax system will never be much more than a reflection of strongly national cultures and forces. discuss this statement in the light of your knowledge of comparative tax system in developing and/or developed countries i

Tax Systems

The following pages focus on analyzing the factors of influence on different countries' taxation systems. The paper begins with an introductory section that allows readers understand the point-of-view used in this paper. The following section refers to describing the taxes pand taxation systems used by most countries and their objectives, in order to understand the similarities and differences between these taxation systems. The paper continues with the analysis of several factors that influence countries' tax system design, like cultural factors, technological developments, and natural resources. In order to exemplify this, the taxation…… [Read More]

Reference list:

1. Pasekova, M. et al. (2011). Comparative Analysis of Tax Systems: Some Evidence from CEE Countries. World Academy of Science, Engineering, and Technology. Retrieved February 27, 2012.

2. Greenhouse, S. (2011). Tiny Tax on Financial Trades Gains Advocates. The New York Times. Retrieved February 28, 2012 from http://www.nytimes.com/2011/12/07/business/global/micro-tax-on-financial-trades-gains-advocates.html?_r=1&pagewanted=all.

3. Ross, M. (2004). Does Taxation lead to Representation? Cambridge University Press. Retrieved February 28, 2012.

4. Seto, T. (2008). Four Core Principles of Tax Design System: Introduced and Applied to the Taxation of Multinationals. Loyola Law School. Retrieved February 28, 2012.
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Taxes That Could Be Levied

Words: 317 Length: 1 Pages Document Type: Essay Paper #: 57170449



To minimize the impact on business and property owners, the tax should be one that they can apply at the consumer level. An excise tax raises the cost of goods, whereas a sales tax does the same thing but forces the consumer to pay. A property sales tax would already be applied at the consumer level.

As a citizen, I will not necessary see benefit from these taxes -- it depends on what the taxes are used for. ith regards to paying other taxes, I am only concerned with my total tax burden. Shifting taxes from one type to another, if it for me is tax neutral, is irrelevant. I would prefer that my taxes are reduced overall, and if these taxes facilitate that, then I would prefer them.

orks Cited:

IRS. (2008). Business taxes. Internal Revenue Service. Retrieved February 11, 2010 from http://www.irs.gov/businesses/small/article/0,,id=98966,00.html… [Read More]

Works Cited:

IRS. (2008). Business taxes. Internal Revenue Service. Retrieved February 11, 2010 from http://www.irs.gov/businesses/small/article/0,,id=98966,00.html
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Website Critique Property Assessment Appeals in Canada

Words: 580 Length: 2 Pages Document Type: Essay Paper #: 4320001

Property Assessment Appeals (Canada)

Property assessment appeals in Canada

Orientation

Google 'Property Assessment Appeals in Canada' and one of the first links which appears is from Colliers International Property Tax Services. On its website, Colliers advertises itself as "dedicated to reducing the amount you pay for your property tax. e will review your commercial property tax assessment and help you appeal that assessment if it is too high" ("Property tax services," 2014). The motivation behind this website is clearly to advertise the services of the organization. People who feel that their property has been overvalued will likely be looking online for assistance. The website presents its information in a relatively objective and matter-of-fact manner. It hopes it may initially draw people simply looking for more information after they are unhappy with their assessment and then will turn to Colliers as a trusted source of data first and as a source…… [Read More]

Works Cited

"Property tax services." Colliers. Retrieved from:

 http://www.collierscanada.com/en/services/valuation-and-advisory-services/property-tax
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The Unfairness of US Tax Regimes

Words: 659 Length: 2 Pages Document Type: Essay Paper #: 30381875

Tax Equity and Fairness

Taxes on property are also known as ad valorem tax imposed on the real value of the estate or other assets that an individual owns. The local government imposes these property taxes and charges are on a recurring basis (Mikesell, 2014). For example, a homeowner either pays their taxes on a yearly basis or gives a monthly fee as part of the mortgage payments. It is worth noting that these taxes are subject to fluctuation basing on the jurisdiction assessment of the property's worth by looking at factors like its market value, condition, location and the changes to the apportioned amount to the various tax recipients. For instance, when residents of a given community vote to have the millage rate increased for their school system, this affects the tax rate on homeowners. Therefore, the tax levied is increased on their properties, and the reverse applies; when…… [Read More]

Reference List

Laureate Education (Producer). (2008). Budget management functions: Revenue [Video file]. Retrieved from https://class.waldenu.edu

Mikesell, J. L. (2014). Fiscal Administration: Analysis And Applications For The Public Sector (9th ed.). Boston, MA: Wadsworth
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How Do Taxes Affect Taxpayers

Words: 994 Length: 3 Pages Document Type: Essay Paper #: 62020320

Taxes

Tax laws affect taxpayers because they create the taxpayer and govern all aspects of the taxpayer's obligation to the state. Without tax law, there would be no taxpayer; it is the tax laws that create the obligation to pay taxes, and the punishments for non-payment. Tax laws establish who pays taxes, at what rate they pay taxes, the punishments for late or non-payment, and the establish the tax collection body (IRS) and grant that body the authority to run the tax system. Taxation is one of the major ways in which the state can influence behavior in a democratic country. States have long reserved the right to taxation, and the exclusivity of this right has been a feature of government for centuries. Today, there are usually specific rules regarding what layer of government can levy taxes for what purpose. Taxes have different names, too, including excise taxes, income taxes,…… [Read More]

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Property and Life Insurance Are Complex Issues

Words: 1199 Length: 4 Pages Document Type: Essay Paper #: 27604515

Property and life insurance are complex issues with details that are relevant to any policy holder and invaluable for all policy holders to look into. There comes a point in time when it is important for a person to buy life, or property insurance. This is particularly so for a single parent who wants to care for her children in the eventuality of her death or for a business owner who wants to insure his property in the event of accident. The terminology and details of both property and life insurance are, however, complex and mathematically abstruse. The following essay takes up some concerns of both and vivifies, as well as teaches certain aspects of life insurance, via examples.

The first section concerns property insurance. The second exercise talks about life insurance.

Property insurance

Example hotel

Co-insurance clause refers to a splitting or spreading of risk among multiple parties in…… [Read More]

Sources

Insurelane

 http://www.insurelane.com/insurance-faq/faq24.html 

Investopedia Life Insurance Clauses Determine Your Coverage  http://www.investopedia.com/articles/pf/06/lifeinsuranceclauses.asp#axzz2NucL9nQm 

Investopedia.com Needs approach  http://www.investopedia.com/terms/n/needsapproach.asp#ixzz2Nud2Pexf
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Property Management in Real Estate

Words: 983 Length: 4 Pages Document Type: Essay Paper #: 33865820



ased on the income stream, what is the estimate of the market value of the property this year?

The estimated property value for the building this year would be: $1,723,231.00. This number was calculated by adding the net operating income together, to determine the underlying present value of the asset.

Here are some issues concerning the physical property which may adversely affect its future cash flows. How will you deal with the following? 1. Roof needs $50,000 worth of repair work. 2. Several (6) heat pumps as part of your HVAC (Heating, Ventilation, Air Conditioner) system need to be replaced at a cost of $5,000 each. A workout facility is planned for the lower level at a cost of $125,000.

The total amount of repairs that the building will need is $205,000.00. This can be broken up over a series of five years, by investing a consistent amount of $41,000.00…… [Read More]

Bibliography

Impressive in Syracuse. (2009). CEOs for Cities. Retrieved from: http://www.ceosforcities.org/blog/entry/2201
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Tax Liability a Preview of Capital Structure

Words: 2119 Length: 6 Pages Document Type: Essay Paper #: 45408700

Tax Liability

A preview of capital structure issues

In regards to the overall business environment, capital structure has profound implications of the business, irrespective of its industry. For one, a firm's capital structure is then the composition or 'structure' of its liabilities. For example, a firm that sells $40 billion in equity and $160 billion in debt is said to be 20% equity-financed and 80% debt-financed. The firm's ratio of debt to total financing, 80% in this example is referred to as the firm's leverage. This leverage has implications on the entire firm. For example, leverage in many respects is a double edges sword. On one hand, leverage can amplify gains for firms. However, if used incorrectly, leverage can also amplify loses. As such, firms must be cognizant of its capital structure as complacency can hinder overall business performance. Debt and equity financing, can have a profound implications on the…… [Read More]

References:

1) Myers, Stewart C.; Majluf, Nicholas S. (1984). "Corporate financing and investment decisions when firms have information that investors do not have." Journal of Financial Economics 13 (2): 187 -- 221

2) Baker, Malcolm P; Wurgler, Jeffrey (2002). "Market Timing and Capital Structure." Journal of Finance 57 (1): 1 -- 32.

3) Lyandres, Evgeny and Zhdanov, Alexei, Investment Opportunities and Bankruptcy Prediction (February 2007) Available at SSRN: http://ssrn.com/abstract=946240

4) Timmer, Jan (2011). Understanding the Fed Model, Capital Structure, and then Some.
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Tax Law Memo Re The

Words: 743 Length: 3 Pages Document Type: Essay Paper #: 34877636



The case had nothing to do with taxes but rather with changes in a state probate law, but the outcome was still the decision that ex post facto laws affecting solely civil matters meet constitutional muster under Article I section 10. Subsequent rulings have reaffirmed this position of the Court and made it clear that retroactive taxation would be considered constitutionally permissible despite other objections.

Specifically, in nited States v Carlton (1994) the Court determined that such retroactive tax laws do not necessarily violate the Fifth Amendment right to due process so long as there is legitimate process involved in its enactment, according to a concurring opinion written by Justice Scalia, with the majority opinion (of the unanimous vote upholding the retroactive tax in this case) creating an even broader guideline of being "rationally related to a legitimate legislative purpose."

This essentially renders and retroactive taxation, which will necessarily result…… [Read More]

US Constitution, Article I, sec. 10. Accessed via Cornell University Law Library 21 April 2010. http://topics.law.cornell.edu/constitution/articlei

Calder v Bull 3 U.S. 386 (1798). Accessed via FindLaw 21 April 2010. http://caselaw.lp.findlaw.com/scripts/getcase.pl?navby=CASE&court=U.S.&vol=3&page=386

United States v Carlton 512 U.S. 26 (1994). Accessed via Cornell University Law Library 21 April 2010. http://www.law.cornell.edu/supct/html/92-1941.ZC1.html
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Local Government and Tax Incentives

Words: 805 Length: 2 Pages Document Type: Essay Paper #: 1249215

Local Government and Tax Incentives

Like federal and state governments, local governments offer tax incentives to businesses to help solve economic and/or environmental problems. Conduct an Internet search and find an example of a state or local government (perhaps your own) that offers an incentive to businesses and cite your resource(s). Describe the tax incentive you found, determine what economic problem(s) government is trying to solve by offering the incentive you highlight, and do your best to evaluate the costs and benefits of the incentive.

For business owners currently living in Philadelphia, PA, or those who hope to relocate their operations to the city, a wide selection of generous tax incentives have been provided on the federal, state, and municipal levels that are designed to incentivize this choice. According to the City of Philadelphia's Business Services division, there are more than a dozen tax incentives currently in place to alleviate…… [Read More]

References

City of Philadelphia, Business Services Division. (2009). Credits, grants & other incentives. Retrieved from website: https://business.phila.gov/pages/taxcreditsotherincentives.aspx?stage=start&type=all business types§ion=financing & incentives&bspcontentlistitem=tax credits, grants & other incentives

Illinois Department of Revenue, Office of Local Government Services. (2012). The illinois property tax system: A general guide to the local property tax cycle. Retrieved from website:  http://tax.illinois.gov/publications/localgovernment/ptax1004.pdf 

Mayes, E. (2013, March 13). Mayor's budget: No new taxes, slight spending hike. The Philadelphia Tribune. Retrieved from http://www.phillytrib.com/newsarticles/item/8165- mayor's-budget-no-new-taxes,-slight-spending-hike.html

Mikesell, J.L. (2010). Fiscal administration: Analysis and applications for the public sector. Boston, MA: Wadsworth Publishing Company.
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How to Limit Your Taxes

Words: 2248 Length: 7 Pages Document Type: Essay Paper #: 22806100

Income Tax Deduction

Taxes have existed in the United States for all of its existence but they took on many forms prior to the modern income tax. The income tax was not finalized and permanently ensconced in the United States law until the 1910's. The tax rates, at its normal levels, have been adjusted upwards and downwards depending on the economic cycles with the most recently developments being the "Bush Tax Cuts" of the 2000's and the recent tax spikes under the Obama Administration. While income taxes affect some more than others, nearly all people are affected based on the assets/income they possess and earn as well as the familial structure they maintain.

Common Tax Deductions

As noted in the introduction, familial status and assets/income are far and away the biggest determinants on how much tax is paid, if any. Indeed, some people actually get money from the government and…… [Read More]

References

IRS. (2014, February 28). Internal Revenue Service. 401(k) Plans. Retrieved February 28, 2014, from http://www.irs.gov/Retirement-Plans/401(k)-Plans

IRS. (2014, February 28). The Health Insurance Marketplace. The Health Insurance Marketplace. Retrieved February 28, 2014, from http://www.irs.gov/uac/Newsroom/The-Health-Insurance-Marketplace

IRS. (2014, February 28). SOI Tax Stats - S Corporation Statistics. SOI Tax Stats - S Corporation Statistics. Retrieved February 28, 2014, from http://www.irs.gov/uac/SOI-Tax-Stats-S-Corporation-Statistics

IRS. (2014, February 28). EP Abusive Tax Transactions - S Corporation ESOP Abuse of Delayed Effective Date for Section 409(p). EP Abusive Tax Transactions - S Corporation ESOP Abuse of Delayed Effective Date for Section 409(p). Retrieved February 28, 2014, from http://www.irs.gov/Retirement-Plans/EP-Abusive-Tax-Transactions-S-Corporation-ESOP-Abuse-of-Delayed-Effective-Date-for-Section-409(p)
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Small Business Taxes Small Business

Words: 1408 Length: 5 Pages Document Type: Essay Paper #: 63038491

The same goes for business-related periodicals and magazines. (Dratch 2008, p. 2)

Mileage: Once again, this involves careful bookkeeping, but the deductions can add up. Keep a dated log of all business-related mileage, tolls, and parking costs. According to the IRS website, the 2009 IRS deduction rate for business-related mileage was 55 cents per mile.

Travel, Entertainment, and Meals: For the small business, 100% of travel and entertainment expenses are deductible, as well as 50% of meal expenses. It should come as no surprise that these deductions must have supporting documentation showing them to be business-related.

Shelter Your Income

Investment property can be a valuable tax shelter. The IRS allows you to shelter up to $25,000 in an investment property, but there are strict requirements. You must own 10% of the property as an individual owner, not through limited partnership. And you must be involved in the "active management" of…… [Read More]

Works Cited

Akasie, Jay. (2009, Apr. 6). Last Minute Small Business Tax Tips. Retrieved May 29, 2010 from  http://www.forbes.com . [website]

Dratch, Dana. (2008, Mar. 26). A Dozen Deductions for Your Small Business. Retrieved May 30, 2010 from http://www.bankrate.com/finance/money-guides/a-dozen-deductions-for-your-small-business-1.aspx. [website]

Tax Tips for Small Businesses. (2010, Jan. 20). Retrieved May 30, 2010 from www.fool.com. [website]
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Ontario Property Assessment Corporation Individual Municipalities in

Words: 1270 Length: 4 Pages Document Type: Essay Paper #: 48811560

Ontario Property Assessment Corporation:

Individual municipalities in Ontario, Canada were responsible for the provision of assessment services before 1970. However, the introduction of the Ontario Property Assessment Corporation Act resulted in significant changes in tax assessment in the province. The legislation paved way for the establishment of the Ontario Property Assessment Corporation, which has continued to evolve since its inception. One of the main reasons for the creation and introduction of this organization was to enable the province to take over tax assessment, which was traditionally the responsibility of individual municipalities. The province would take over tax assessment in attempts to return the function to the local government after the development of a consistent and province-wide framework of assessment. Moreover, the organization was created following calls for greater control over the management of major elements of local property tax system by individual municipalities.

History of Ontario Property Assessment Corporation:

As…… [Read More]

Works Cited:

City of Brampton, Canada. Flower City for Residents. Property Assessment. City of Brampton, 2012. Web. 15 Nov. 2013. .

Ontario, Canada. Ministry of Finance. Email Print Share Ontario Budget Update 1997 Ontario Property Assessment Corporation. Queen's Printer for Ontario, 7 Oct. 2009. Web. 15 Nov. 2013. .

Ontario, Canada. Office of the Auditor General of Ontario. Municipal Property Assessment Corporation. Office of the Auditor General of Ontario, n.d. Web. 15 Nov. 2013. .

Slack, Enid. The Never-Ending Story of Property Tax Reform in Ontario, Canada: Lessons for Other Countries? Munk Centre for International Studies. University of Toronto, 26 Jan. 2009. Web. 15 Nov. 2013. .
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American Tax System vs Other Countries the

Words: 1778 Length: 7 Pages Document Type: Essay Paper #: 70830428

American Tax System vs. Other Countries

The federal government first imposed an individual income tax in 1862 as an emergency means of financing the Civil ar. It also established the Bureau of Internal Revenue, predecessor of the Internal Revenue Service. Tax rates were 3% on income from $600 to $10,000 and 5% on income above $10,000. Later in the war the maximum rate increased to 10% of income." (Encarta)

My how times have changed. This paper will compare the tax systems of four different countries to the American tax system. The four countries that have been chosen are South Africa, Mexico, Hong Kong, and New Zealand..

First lets attempt to briefly (if that were possible) explain the American tax system.

The American Tax System

America has a progressive tax system meaning the greatest tax burden is on people who have the most income. The American tax system can be described…… [Read More]

Works Cited

Corporate Service Center. "Federal Tax Rates." http://www.corporateservicecenter.com/Corp/federal_tax_rates.htm. April16, 2002

Film New Zealand. "New Zealand's tax Environment." Jan. 2002 http://www.filmnz.com/filmnz/Content/Production/Development/Taxation/Taxation.html

Flags of the World.  http://www.crwflags.com/fotw/flags/mx.html . April17, 2001

Henry, Aaron. "The South African Tax System: A Nation is Microcosm." Dec. 6,1999:
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Alternative Source for Tax Dollars

Words: 1266 Length: 4 Pages Document Type: Essay Paper #: 61824249

This means that they should have alternative sales taxes imposed. These small increases will result in school districts receiving more income. As the legislature can avoid making dramatic cuts backs from the general fund and will have another source of revenues. This will improve their ability to provide educators with the resources they need. (Balu, 2011)

A good example of this can be seen with a study that was conducted by Balu (2011). She found that this formula has been successful in helping to ensure that school districts are receiving additional financing. Commenting about these shifts, she concluded that this will prevent sudden decreases by introducing another form of revenues for education with her saying, "Districts in states that shifted their tax base for education toward sales and income taxes, received more than 60% of their revenues from the state. They experienced an increase in revenue stability after finance equalization…… [Read More]

References

Balu, R. (2011). Did School Finance Equalization Increase Revenue Instability. SREE. Retrieved from:  https://www.sree.org/conferences/2011/program/downloads/abstracts/159.pdf 

Crawford, C. (2010). Property Taxes in New Jersey. Northeast Business and Economic Association.

Goodspeed, T. (n.d.). The Relationship Between State Income Taxes and Local Property Taxes. National Tax Journal, 2 (2), 219 -- 236.

Toutkoushian, R. (2008). The Impacts of School Funding. Journal of Education Finance, 33 (4), 353 -- 379.
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Globalization and Tax Havens

Words: 2570 Length: 10 Pages Document Type: Essay Paper #: 92382712

Globalization and Taxes

Globalization

Competition for Taxes

One of the most difficult issues regarding the state regulation of their tax relations in regard to international business is the presence of various "tax havens" that are present across the globe in today's modern economy. According to some estimates, as much as half of the world's stock of money either resides in tax havens or passes through them (Palan, 2002). The term tax haven has been widely used since the 1950s; yet there is no consensus as to what it means (Palan, Murphy, & Chavagneux, 2010). The influential U.S. Treasury's Gordon eport concluded: there is no single, clear, objective test which permits the identification of a country as a tax haven . Corporations and private businesses now have a plethora of ways to reduce their tax liabilities. Globalization has exacerbated this problem even further. The mere presence of these various tax shelters…… [Read More]

References

Bhagwati, J. (2004). In Defense of Globalization. New York: Oxford University Press.

Dyreng, S., Lindsey, B., & Thornock, J. (2011, April 30). Exploring the Role Delaware Plays as a Domestic Tax Haven. Retrieved from Social Science Research Network: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1737937

Friedman, T. (2005). The World is Flat. New York: Farrar, Straus, and Giroux.

Kanter, J. (2015, October 21). E.U. Orders 2 Nations to Recover Taxes From Starbucks and Fiat. Retrieved from The New York Times: http://www.nytimes.com/2015/10/22/business/international/starbucks-fiat-eu-tax-netherlands-luxembourg.html?_r=0
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Principles of Tax Analysis

Words: 334 Length: 1 Pages Document Type: Essay Paper #: 41105008

Tax Analysis

In Pennsylvania taxation is a huge issue, much like in the rest of the United States. arring factions on either side of the political agenda work to either raise or cut taxes within a given year. In times of economic crisis, such as is occurring in the United States at the present has forced citizens and government officials to reexamine taxation practices in the hopes of overturning the depression. In additional to federal taxes, businesses and individuals of the U.S. are required to pay taxes to the state and to their local communities (Financing page 458). State taxation can be extraordinarily high. It has been proven that many states have higher corporate tax rates than several countries of the world. hen comparing Pennsylvania to other states in the country, it becomes apparent that the current tax rate is exorbitant and putting a great deal of pressure both on…… [Read More]

Works Cited:

"Financing Government Expenditures."

"The Tax Foundation: Pennsylvania." (2009). Retrieved from http://www.taxfoundation.org/taxdata/show/477.html
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Valuation Report Identification of Subject Property the

Words: 1657 Length: 5 Pages Document Type: Essay Paper #: 18550975

Valuation eport

Identification of Subject Property

The subject site is an office property in Oakville, Ontario. It can be sold either in parts or as whole, and this report will consider the whole. The size of the whole building is 4016 square feet. The property is located on the service road adjacent to the Queen Elizabeth Way (QEW), a major highway in the region that links Toronto with the cities of Hamilton and Buffalo. The property can be subdivided into multiple units, at least three. There is a current tenant occupying 839 square feet and room for two more tenants or one primary occupant.

Market eview

The market for this type of property is relatively soft at present. The prevailing economic conditions are for sluggish growth, with some observers predicting a protracted housing correction and "muted business investment." The recent federal government budget has more cuts than spending, and the…… [Read More]

References:

Colliers Canada: http://www.collierscanada.com/8034

CP. (2013). Leading forecaster sees bleak days for Canadian economy. CBC News. Retrieved April 30, 2013 from http://www.cbc.ca/news/business/story/2013/04/09/business-bleak-outlook-capital-economics.html

Dmitrieva, K. (2013). Toronto offices passing NYC on cheap funding. Bloomberg. Retrieved April 30, 2013 from http://www.bloomberg.com/news/2013-02-01/toronto-offices-passing-nyc-on-cheap-funding-mortgages.html

Goolsby, S. (2009). A summary real estate appraisal report. Earthworks Action. Retrieved April 30, 2013 from http://www.earthworksaction.org/files/pubs-others/Appraisal12-11-2009.pdf
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Proposition 207 Arizona Private Property

Words: 1498 Length: 5 Pages Document Type: Essay Paper #: 34984890

What this means is before the passage of 207 if the government suddenly decided that a rose was protected, and land had natural roses growing on it the land could not be sold or developed as the owners would be government ordered to set aside that land as a natural preserve.

The change that proposition 207 brought was that if a government action reduces the value of one's land then the government must pay the landowner for causing that to happen.

Another example of this is when a person owns a large piece of land and that land is currently zoned to allow 20 houses to be built on it. If the government decides that it does not want that dense of a population in the area, due to current traffic congestion or any other reason, then the government might decide to change the zoning to only allow three houses…… [Read More]

References

____(2006) EDITORIAL: Proposition 207 step to restoring property rights.

The Sun

____(2006) Impact of Prop. 207 Vexes City Officials: Land-Use Decisions Will Feel Effects of Voter-Passed Law. The Tribune

Meltzer, Erica (2006) Land rights at root of Prop. 207. AZ Daily Star
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Standard and Principles of Tax Analysis

Words: 394 Length: 1 Pages Document Type: Essay Paper #: 10684474

Pennsylvania's Unique Tax Environment

When someone says the word tax or any related form of the word, it makes people cringe. This cringe is for a good purpose. Almost everything we purchase is taxed somehow. Most of those people do not even understand all of the specific taxes that are being taken out of their checks. When comparing between different states, Pennsylvania has some unique features to its taxation system. To begin, it has a personal income tax, adopted in 1971, which is levied at a rate of 2.8%. Business taxes include a corporate net income tax of 9.99%, capital stock and franchise taxes, and taxes on public utilities, insurance premiums, and financial institutions (Braybrooks, et al., 2011). Pennsylvania's 6% sales and use tax exempts essential items like clothing, groceries, and medicines. Local sales taxes are limited to 1%. The state has an inheritance tax and has taken action to…… [Read More]

References

Braybrooks, M., Ruiz, J. And Accetta, E. 2011. State Government Tax Collections Summary Report: 2010. United States Census Bureau. Accessed: 13 Feb 2012. URL:  http://www.census.gov/prod/2011pubs/g10-stc.pdf 

Congressional Budget Office. 2011. Options for Changing the Tax Treatment of Charitable Giving. Accessed: 13 Feb 2012. URL: http://cbo.gov/ftpdocs/121xx/doc12167/CharitableContributions.pdf
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Federal Tax

Words: 653 Length: 2 Pages Document Type: Essay Paper #: 56289349

Federal Tax Current Event

The current epublican leadership race has seen Herman Cain as a front-runner for leadership of the epublican Party and thus, a potential presidential candidate for the 2012 election. One of the main components of his campaign is his proposal of a flat taxation plan for citizens of the United States, known as the "9-9-9" tax plan. This plan proposes to replace the current federal tax code with a flat taxation plan of 9% national sales tax, 9% personal income tax, and 9% corporate tax across the board for all Americans. In the article "Herman Cain's murky 9-9-9 tax plan," the author argues that this plan simply would not fiscally work out and that it would lead to an unfair distribution of the tax burden (Hitzlik, 2011).

Hitzlik argues that flat taxation plans such as the one proposed by Cain tend to not result with their positive…… [Read More]

Reference

Hiltzik, M. (October 18, 2011). Herman Cain's murky 9-9-9 tax plan. Los Angeles Times. Retrieved 12 November, 2011 from http://articles.latimes.com/print/2011/oct/18/business/la-fi-hiltzik.
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Tax Avoidance Gone Too Far

Words: 877 Length: 2 Pages Document Type: Essay Paper #: 18032467

CPA Advice

The author of this report has been asked to review a situation where a corporation has received unwanted attention from the Internal Revenue Service (IRS) for a few reasons. Among those reasons are income that is deigned to be a de facto dividend, stock redemptions that are improper and a rental loss situation. The goal across the board is to devise a compensation and tax approach that will prevent the IRS from claiming tax avoidance or other such things as well as a plan that limits tax implications and higher costs for the firm. While it is sometimes rankling and maddening when the IRS makes such moves, their reaction is a little predictable given the facts involved.

The Plan

The IRS taking issue with the compensation is a little predictable, and for a few reasons. First, it is presumed by the author of this response that the company…… [Read More]

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Tax Advice Benefit

Words: 1508 Length: 4 Pages Document Type: Essay Paper #: 68953423

Compare the long-term tax benefits and advantages of each type of reorganization, and recommend the type of reorganization that will be most beneficial to the client

Reorganization takes into account any company restructuring that may be tax-free under the United States law section 386. It encompasses the notion of acquiring new entities in a manner that all financial transactions are non-taxable. There are certain general requirements that have to be met in order to qualify. To begin with, it must be a plan of reorganization, must have a sound and fitting business purpose, and must satisfy continuity of interest as well as continuity of business enterprise examinations. There are different forms of reorganization that include type A, B, C, and D. reorganizations (Macabacus, 2017). To begin with, type A reorganization takes into account mergers and consolidations. The advantages of this reorganization type is that it is flexible, funds and other…… [Read More]

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Tax Research and Representation

Words: 729 Length: 2 Pages Document Type: Essay Paper #: 62383095

Alacare Home Health Services Inc., Petitioner vs. Commissioner of Internal evenue

The comparison of American Institute of CPAs' (AICPA) Statements on Tax Standards and the Treasury Department Circular 230 rules to practice.

Alacare Home Health Services, Inc., Petitioner vs. Commissioner of Internal evenue espondent

Facts:

In the addressed case, the petitioner was from Birmingham, Alabama, and was a Medicare-certified home health care agency which uses accrual method of accounting. As admitted by the respondent, the figure for office expenses in 1996 was overstated and should've been $247,413 and not $259,062 (Tax Attorney esources - Alacare Home Health Services, Inc. - Page 7 - U.S. Tax Court Opinions, 2001). In 1995, the computer expenses amount had also been overstated due to an error in valuing depreciation and so, instead of $104,806, $101,806 had been recorded. A petition was formed in 1982 and from 1995-1996, the petitioner treated the cost of capital…… [Read More]

References

(2001). Laws - Legal Research. Tax Attorney Resources - Alacare Home Health Services, Inc. - Page 7 - U.S. Tax Court Opinions. Retrieved June 7, 2016, from http://law.onecle.com/tax/2001/alacare.tcm.wpd07.html

(2001). Leagle.com -- A leading provider of copies of primary case law from all Federal courts and all State higher courts. ALACARE HOME HEALTH SERVICES, INC. v. COMMISSIONER -- Leagle.com. Retrieved June 7, 2016, from http://www.leagle.com/decision/2001187581ertcm1794_11728/ALACARE%20HOME%20HEALTH%20SERVICES,%20INC.%20v.%20COMMISSIONER

Schreiber Jr. (2014). The Tax Adviser. An Overview of AICPA and IRS Rules of Practice. Retrieved June 7, 2016, from http://www.thetaxadviser.com/issues/2014/feb/tpr-feb2014.html
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Tax Regulations

Words: 577 Length: 2 Pages Document Type: Essay Paper #: 1433592

Mrs. Hapless

When considering your case for qualification for Innocent Spouse Relief, the facts are blatantly clear. Under certain circumstances, a spouse can qualify for relief from the IRS. Unfortunately, as detailed below, you do not qualify for any of these relief efforts. Your actions appear to be in strict opposition of the relevant tax code and can be considered fraudulent. Below is a brief explanation of the relevant facts pertaining to your case, the specific issues of your case, and our conclusion.

To begin, married couples who file joint returns are jointly liable for their federal income tax liability. In addition, married couples who live in community property states are jointly liable for community income regardless of how they file their returns. Innocent spouse relief takes three forms under Sec. 6015. The three instances are outlined below. Unfortunately, Mrs. Hapless you do not qualify for relief under any of…… [Read More]

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Section 1231 and Section 1250 Recapture Codes in Taxes

Words: 574 Length: 2 Pages Document Type: Essay Paper #: 12330665

Tax Code 1231, 1245, 1250, 291

A Section 1231 asset is an asset that is non-capital, that it may receive capital gain treatment. To be a Section 1231 asset, the asset must be personal or real property used in a trade/business that has been owned for a year -- for example, a piece of equipment like a tractor. Equipment is treated the same whether it is owned by a sole proprietor or a corporation. So if it were purchased for $20,000, sold for $50,000, with a depreciation of $4,000, with a $16,000 basis, the gain would be $34,000. If the tractor were held as a 1231 asset, the gain would be the same regardless of whether you were a sole proprietor or a corporation. The gain would be counted as an ordinary income -- and the $4,000 depreciation portion of the $34,000 could be counted as Section 1245 gain (ordinary…… [Read More]

Works Cited

Anderson, Ken; Pope, Thomas. Prentice Hall's Federal Taxation 2015: Corporations,

Partnerships, Estates, and Trusts. NY: Prentice Hall, 2015. Print.
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Capital Gains Tax in Australia Capital Gains

Words: 2921 Length: 8 Pages Document Type: Essay Paper #: 17440945

Capital Gains Tax in Australia

Capital gains tax refers to a type of tax levied on capital gains incurred by organizations or individuals. The capital gains refer to the profits that an organization or individual selling a capital asset obtains through selling an asset at a price higher than the original price. In many countries, the amount of capital gains tax takes into consideration the type of investment and the holding period of the asset. Australian capital gains tax takes a proportion of all achieved capital gains. Capital gains are not separate tax but part of the income tax on individuals and corporations upon disposing of capital assets. Australian capital gains tax exempts personal properties such as home, car, and furniture. Australian residents in any part of the world are subject to capital gains tax.

Issue 1. Moodly's Conversion of her main residence.

Moodly being a childcare worker, wishes to…… [Read More]

References

OECD Tax policy studies. 2006. Taxation of Capital Gains of Individuals: Policy

Considerations and Approaches. No.14. Paris: OECD Publishing.

Pricewaterhouse Coopers. 2006. Mergers and acquisition: A global Tax Guide. New Jersey:

John Wiley and Sons Inc.
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Global Tax Treaties UN Model and OECD

Words: 4790 Length: 12 Pages Document Type: Essay Paper #: 36069664

global tax treaties, UN model and OECD model with the view of analyzing their consideration towards rights to capital and tax income. By throwing light on differences and similarities among the models, the fundamental logic of each of them is explained. The article explains the prospecting policies of consideration when tax treaties are to be signed. It is because there is strong need to enforce a flexible but more aggressive strategy. The Section 1 of the article discusses rights about tax earnings through immovable property. The Section 2 is about business profits. The Section 3 throws light upon income from investment channels like royalties, interests and dividends. The Section 4 describes the capital gains. The conclusion of the article is given in Section 5.

ight to tax income from immovable property

Because of well-known significant relationship between the country of source of the income and the source of income itself,…… [Read More]

References

Bin Yang, A Comparative Study on the Rules and Administration of the International Taxation System (China Tax Publishing House, 2003).

Bin Yang, International Taxation (Fudan University Press, 2004).

Commentaries on Paragraph 3, Article 7 of the OECD model.

Jin Zhi Liu (translator), Commentaries of UN model Tax Convention between Developed and Developing Countries (China Financial & Economic Publishing House, 1996) 56.
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Federal Government Tax the Main Source of

Words: 2091 Length: 6 Pages Document Type: Essay Paper #: 10260188

Federal Government Tax

The main source of government income is taxes. The government taxes various organizations in the economy differently to ensure that adequate revenue is collected. Corporate use loopholes in the tax system to reduce the tax paid to the federal government. The government should eliminate these loopholes to improve tax collection. Some taxes such as gift and estate tax as they are counter productive. Changes made to the federal tax collection systems will increase the tax collected by increasing compliance.

esearch the most common tax loopholes used by corporations and partnership to avoid paying federal income tax. Discuss two (2) loopholes identified and what strategies you would recommend to the federal government for closing these loopholes.

The federal government gets most of its revenue from collection of tax used to fund most of the expenditure. The government should ensure that the tax collection avenues are free from loopholes…… [Read More]

References

Gans, J. (2011). Principles of economics. South Melbourne, Vic: Cengage Learning.

Ganghof, S. (2006). The politics of income taxation: A comparative analysis. Colchester: ECPR Press.

Conklin, D.W., St.-Hilaire, F., & Institute for Research on Public Policy. (1990). Provincial tax reforms: Options and opportunities. Halifax, N.S: Institute for Research on Public Policy = Institut de recherches politiques.

Pechman, J.A. (1987). Federal tax policy. Washington, D.C: Brookings Institution.
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California Tax Payers Who Commit

Words: 1208 Length: 3 Pages Document Type: Essay Paper #: 24436915

Cancellation of debt in this instance may not be taxed in this manner but might be taxed another way.

Certain farm debts: This exemptions only applies to debt incurred directly from an operation of a farm. If more than half your income from the past three years came from farming, and the loan was owed to a person or agency regularly engaged in lending, your cancelled debt is generally not considered taxable income.

Analysis

Since 2007 and 2008, California conformed, with modifications to IC section 108 (a)(1) (E) that allows a limited amount of COD income resulting from the foreclosure or short sale of a qualified principal residence to be excluded. This exclusion does not currently apply for any foreclosure or short sale that occurs on or after January 1, 2009. Danny made his short sale in 2012. "The Mortgage Forgiveness Debt elief Act of 2007 was enacted on December…… [Read More]

References

Foreclosure and Short Sales | California Franchise Tax Board, (2012) [ONLINE] Available at:https://www.ftb.ca.gov/professionals/taxnews/2009/July/Article_9.shtml. [Accessed 16 June 2012].

New California short-sale law can help homeowners -- North Bay Business Journal - North San Francisco Bay Area, Sonoma, Marin, Napa counties - Archive, (2012) [ONLINE] Available at:http://www.northbaybusinessjournal.com/39868/new-california-short-sale-lay-can-help-homeowners/. [Accessed 16 June 2012].

The Mortgage Forgiveness Debt Relief Act and Debt Cancellation, (2012). [ONLINE] Available at: http://www.irs.gov/individuals/article/0,,id=179414,00.html. [Accessed 16 June 2012].
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Lakes Tax Research Memo Personal Injury Winning

Words: 820 Length: 3 Pages Document Type: Essay Paper #: 26060661

Lakes

Tax Research Memo

Personal Injury winning treatment and other issues research

XYZ CPAs

NearLakes City

John Smith tax issues

Treatment for purposes of Federal Tax Income of $300,000 fee received out of the amount awarded by Jury.

Applicable Law:Any winnings in a personal injury lawsuit that cover the treatment of physical injuries are not taxable except for attorney fees which are taxable. IRC SEC 104(a)(2).Taxability also depends upon the place of residence of the taxpayer.

$300,000 received by John Smith as fees from jury award is taxable for federal tax income purposes.

Treatment for purposes of Federal Tax Income of $25,000 expenses paid upfront and received out of the amount awarded by Jury.

Applicable Law: Any winnings in a personal injury lawsuit that cover the treatment of physical injuries are not taxable except for attorney fees which are taxable. IRC Sec 104(a)(2).Any expenses can be claimed as a deduction.Taxability…… [Read More]

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Professional VAT Value Added Tax Advice for

Words: 2393 Length: 8 Pages Document Type: Essay Paper #: 30667424

professional VAT (value added tax) advice for the managing director of the Grape Limited. The Grape Limited is a U.S. multinational company and decides to incorporate new companies that provide supply management services, management company, manufacturing company and marketing companies. The management company will deliver supply management services to foreign services providers. On the other hand, the manufacturing company will focus on the electronic parts, and marketing company will deliver marketing services for the parts manufactured by the manufacturing company.

VAT egistration

The VAT (value-added tax) is a government levy on any goods or services produced in the epublic of Ireland. The first condition that must be fulfilled before Grape Limited demands for the VAT numbers is to incorporate its businesses in the epublic of Ireland. After the company registrations, the next step is to apply for the VAT number. To apply for the VAT registration number in the epublic…… [Read More]

References

Chattered Accountant (2014). Form VAT 56A. Ireland.

Department of Finance (2015).Summary of 2015 Budget Measures Policy Changes. Ireland.

O'Brien, C. (2014). Personal Tax. KPMG Ireland .

KPMG (2009). Ireland: Country Fact File. KPMG International.
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Organization Tax Research and Planning the Internal

Words: 584 Length: 2 Pages Document Type: Essay Paper #: 66240925

Organization Tax esearch and Planning

The Internal evenue Service has specific rules with regards to transferring property to stock that are based on the value of the property exchanged and the percentage of all voting stock that the group will receive. First of all, the members that are going to take part in the transaction have to be members of one recognized group. The reason for this is that the rules for exchange apply equally to an individual or group that conducts such a transfer. Another caveat to the rules is that the group must be "in control" of the corporation's stock for it to qualify as nontaxable (NTIS, 2011). This rule has been maintained with the tax code for quite some time (National Tax Services, 2004) and requires that the parties acquire at least 80% of the stock for the transaction to qualify as "in control." The transaction can…… [Read More]

References

National Tax Information Service (NTIS). (2011). Property exchanged for stock. Retrieved from http://taxmap.ntis.gov/taxmap/pubs/p542-001.htm

National Tax Services. (2004). Exchange of property for stock. Retrieved from  http://www.unclefed.com/IRS-Forms/2001/HTML/p54202.html
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Private Property and the Commons of 16th Century Spain

Words: 1974 Length: 6 Pages Document Type: Essay Paper #: 75365249

Private Property & the Commons of 16th Century Spain

Private Property in 16th Century Spain

Historically, 16th-century Castile was considered to be fundamentally an urban society that depended on cities and towns for the articulation of its local and centralized administration (Elliott, 1991). Privilege was considered to be a matter of a priori rights founded on traditions associated with nobility and wealth. The lower social stratum was maintained in order to provide fiscal and military support for the crown. The qualities of separateness -- both cultural and logistical -- between the urban central and diffuse local jurisdictions engendered very different perspectives regarding authority. ather than arbitrating reasonable agreements, local authority worked to undermine what was considered to be overreaching by the crown. I contend that the autonomy of local jurisdictions worked against the crown's insistence on absolutism and a monarchy of estates that were grounded in medieval social concepts, however,…… [Read More]

References

Abercrombie, T.A. (). Colonial relandscaping of Andean social memory.. In Pathways of memory and power: Ethnography and history among an Andean people (pp. ). University of Wisconsin Press.

Abercrombie, T.A. (1996). Q'aqchas and la plebe in "rebellion" -- carnival vs. lent in 18th-century potosi. Journal of Latin American, 2(1), 62-111.

Alban, J.P.V. (1999). Introduction: The decline of propriety. In Propriety and permissiveness in Bourbon Mexico (pp. ). Wilmington, DE: Scholarly Resources, Inc.

Elliott, J.H. (1991, Autumn). Renaissance Quarterly, 44(3) A Review: Nader, H. (1990). Liberty in Absolutist Spain: The Habsburg Sale of Towns, 1516-1700. Baltimore and London, The Johns Hopkins University Press.
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Corporate Tax Instructions Mr Pink Owns All

Words: 893 Length: 3 Pages Document Type: Essay Paper #: 81475944

Corporate Tax

Instructions:

"Mr. Pink owns all the shares of XYZ Corporation a subchapter C corp. And leases property to XYZ Corporation. XYZ Corporation has Earnings and Profits of one million dollars for the taxable year 2014 before paying Mr. Pink a salary. XYZ Corporation has cash of $1.2 million and disposable appreciated property with a FMV of $500,000 and a basis of $200,000."

• hat is the best way to split income between XYZ Corporation and Mr. Pink to minimize double tax liability? Consider what may be "Constructive Distributions."

• hat doctrines apply?

A constructive distribution allows members of the board of directors to take payments in ways other than just cash through property transactions of one form or another. For instance, when a company rents its offices from a shareholder and pays in excess of the office's fair market value, the company's rent is considered a constructive dividend…… [Read More]

Works Cited

Leagle. (N.d.). NICHOLLS, NORTH, BUSE CO. v. COMMISSIONER. Retrieved from Leagle.com: http://leagle.com/decision/1971128156cntc1225_11190.xml/NICHOLLS,%20NORTH,%20BUSE%20CO.%20v.%20COMMISSIONER

Leagle.com. (N.d.). Hood V. Commissioner. Retrieved from Leagle:  http://www.leagle.com/decision/2000287115ntc172_1274.xml/HOOD%20v.%20COMMISSIONER 

US Legal. (N.d.). Dividends. Retrieved from U.S. Legal:  http://dividends.uslegal.com/taxation-of-dividends/constructive-disguised/
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Judiciary Review and Private Property

Words: 2505 Length: 7 Pages Document Type: Essay Paper #: 79191952

Judicial eview for Private Property

The role that has been played by the judicial review when it comes to protecting the rights of private property was discussed by Daniel Cole in "Political Institutions, Judicial eview, and Private Property: A Comparative Institutional Analysis." The tension which exists between property rights and democracy was examined by Cole in his article. Cole starts by focusing on the concerns shown by Madison regarding the protection of individual property rights within a democratic society and how this democracy proves to be a challenge for many of the property rights' notions (Cole, 2007).

A tension has always been there between democracy and the ownership of private property however, in Cole's point-of-view this tension has increased with the rise of the welfare state which basically involved making use of the private property for the public use. The notion of regulatory taking was introduced by Holmes according to…… [Read More]

References

Anderson, T. And McChesney, F. (2003). Property Right: Cooperation, Conflict and Law. Princeton University Press.

Brill, S. (2010). Government for Sale: How Lobbyists Shaped the Financial Reform Bill. Cover Story of Times Magazine.

Cole, DH (2007). Political Institutions, Judicial Review, and Private Property: A Comparative Institutional Analysis. The University of Chicago: Supreme Court Economic Review.

Kelo et al. (2005a). Petitioners V. City Of New London, Connecticut. On Writ Of Certiorari To The Supreme Court Of Connecticut.
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Impact of Irrevocable Trusts on Gift Tax and Estate Tax

Words: 645 Length: 2 Pages Document Type: Essay Paper #: 48071122

Thank you for your consideration of our company as your trusted Certified Public Accountant (CPA) and we hope that this is the beginning of a mutually beneficial relationship. Our company provides superior accounting services to clients with a wide range of accounting issues and needs. Therefore, we are ready to provide excellent accounting guidance and expertise that will help you achieve personal and financial success. In addressing your issue of irrevocable trusts, estate tax and gift tax, we will utilize a six-step procedure to provide you with the most reliable professional assistance.

Based on your request to establish an irrevocable trust for your two grandchildren, the determination of the impact of such a trust on gift tax and estate tax is important. An irrevocable trust is one with specified terms that cannot be changed even by the grantor once the agreement has been signed (Garber, 2017). In your case, there…… [Read More]

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Charitable Contributions and Tax Benefits Unfortunately Much

Words: 1051 Length: 3 Pages Document Type: Essay Paper #: 1038639

Charitable Contributions and Tax Benefits

Unfortunately, much of the elite of the upper class are afforded leeway and loopholes on tax obligations that allow them to pay much less percentage wise than other taxpayers in different income brackets. Much of this is due to the ability to use tax deductions, like charitable contributions in large amounts, to lower their annual personal incomes before taxes. However, many of the top contributors to charity donate above the maximum allowances for charitable deductions, showing a clear resolution to give based on ethics, rather than for the sole purpose of tax deductions alone,

Bill Gates is currently one of the top money makers in the world, yet he is also one of the largest contributors to charitable institutions as well. The amounts of donations Bill Gates contributes to various charities, including his own charitable foundation, is well over the top end limit of what…… [Read More]

References

Kim, Susana. (2011). Warren Buffett reveals 'billionaire friendly' tax return. ABC News. Web.  http://abcnews.go.com/blogs/business/2011/10/warren-buffett-reveals-billionaire-friendly-tax-return/ 

Jacob, Deborah. (2011). Charitable giving by Steve Jobs may forever remain a mystery. Forbes. Web.  http://www.forbes.com /sites/deborahljacobs/2011/10/06/charitable-giving-by-steve-jobs-may-forever-remain-a-mystery/

Mail Foreign Service. (2010). Bill Gates makes the world's biggest ever single charitable donation worth 6.2 billion pounds for vaccines for children. Mail Online. Web.  http://www.dailymail.co.uk/news/article-1247067/Bill-Gates-makes-worlds-largest-charitable-6bn-vaccines-poor-children.html 

Squatriglia Chuck & Espinosa-Solis, Suzanne. (2000). Intel co-founder sets up $5 billion foundation: Gordon Moore Foundation. San Francisco Chronicle. Web.  http://www.mindfully.org/Reform/Intel-Gordon-Moore-Foundation.htm
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Crimes against Property

Words: 1288 Length: 4 Pages Document Type: Essay Paper #: 50256713

The common characteristics of all property crimes

Property crime can encompass aspects of burglary, theft, or motor vehicle theft and this also includes attempted as well as completed crimes. In accordance to the Federal Bureau of Investigation (2010), property crime comprises of the wrongdoings of motor vehicle theft, larceny-theft, burglary, as well as, arson. In particular, the object of the theft-kind transgressions encompasses the taking of money or property, however with the lack of force or threat of force against the victims. Imperatively, the property crime classification takes into account arson for the reason that the offense consists of the destruction of property. Nonetheless, arson victims may be subjected to force. There are two crime measures in the United States with regard to crimes against property. One is the National Crime Victimization Survey (NCVS) by the Bureau of Justice Standards (BJS), which encompasses reported and unreported crime from the perspective…… [Read More]

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Residential Property Financing Programs Characteristics

Words: 1904 Length: 6 Pages Document Type: Essay Paper #: 46961832

" (Chow &
Ng, 13) Simply stated, the collapse of the Asian housing markets seems in
many ways to reflect that which is already now underway in the United
States. The failure of lending institutions to appropriately suit
borrowers with the appropriate financing terms has ultimately translated
into a simultaneous rise in costs within the lagging housing market and the
general dearth of resources available to accommodate the demands of
borrowers with some categorical entitlement to public assistance in
achieving personal home ownership.
This underscores the consequences of the current housing market to
the available terms and conditions relating to residential property
financing. The characteristics of readily available programs are impacted
today by no small degree of tumult in terms of value for property, value
of the dollar and the categorical identification of differing classes of
buyer. Even more then, today, is it important for the borrower to fully
understanding…… [Read More]

Works Cited

Brown, C. (2005). Residential income property financing. Buzzle. Online
at http://www.buzzle.com/editorials/6-17-2005-71727.asp

Chow, R. & Ng, E.H.K. (2004). Availability of bank credit and the
residential property price level: evidence from Singapore. National
University of Singapore.
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Common Property and Animal Testing

Words: 726 Length: 2 Pages Document Type: Essay Paper #: 89483570

Q1. List ten real-world common property resources with which you are familiar. Describe an example of one of these common property resources that is not (tragically) overexploited (use the term “institution/s” in your discussion).

The so-called tragedy of the commons is defined as the fact that people tend to exploit common resources to the maximum degree possible for their own benefit, thus indirectly harming other or future people who could benefit from the resource (“Tragedy of the Commons,” 2018). Examples of common property include public parks, fish in the ocean, public monuments, highways, clean water, clean air, public bathrooms, trees, schools, and public playing fields. Although some of these resources are, indeed, exploited, this is not the case with all of them.

For example, public monuments are usually relatively respected by individuals (although there is a risk of them being defaced). But one of the reasons for this may be…… [Read More]

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Communal Property Human Behavior With Respect to

Words: 1065 Length: 3 Pages Document Type: Essay Paper #: 41275998

Communal Property

Human behavior with respect to communal property is a critical issue of our time. The individual profit-maximizing activities of each individual all contribute to the erosion of critical common resources. There are a number of perspectives that help to explain why this occurs.

The tragedy of the commons explains this phenomenon. Hardin (1968) notes that individuals seek to maximize their outcomes -- this could be wealth or it could be utility. In either case, such behavior is strictly oriented to one's own personal well-being. The concept of perfect rationality is applied only in a narcissistic context. This is true even in collectivist societies, because such societies seldom view the human race as the collective unit. Thus, nobody makes their decisions with the good of the entire species in mind. The tragedy is that the cost of things is not reflected in our decision-making. In economics, the concept is…… [Read More]

References

Durham, (1991). Neutrality and opposition: From cultural reason to cannibalism. In possession of the author.

Feeny, D., Berkes, F., McCay, B. & Acheson, J. (1990). The Tragedy of the Commons: Twenty-Two Years Later. Human Ecology. Vol. 18 (1) 1-19.

Hardin, G. (1968). The Tragedy of the Commons. Science, Vol 162, 1243-1248/
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Personal Tax Planning

Words: 470 Length: 2 Pages Document Type: Essay Paper #: 47529436

Financial Planning

Are you or your spouse self-employed or own a business?

What kinds of income do you and your spouse have?

What kind of deductions do you and your spouse have?

Was there any out of pocket medical expenses?

Do you plan to itemize those deductions?

Do the children work?

Do the children file income tax returns?

Do the children live with you?

Did you pay more than 50% of the children's support?

Do you pay more than 50% of your fathers support?

What was the fair market value of the inherited property at your father's death, or when it was given?

What kind of retirement accounts do you and your spouse have?

What kinds of investments do you and your spouse own?

Do the children have education expenses you paid for?

Options

Options in reducing taxes on adjusted gross income include starting a work 401K, or increasing the…… [Read More]

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Avoiding Taxes Via the Irrevocable Trust

Words: 675 Length: 2 Pages Document Type: Essay Paper #: 46135957

Trusts and Taxes

"Gift Transfers and Gift Tax Planning"

An irrevocable trust could be used as a way to name beneficiaries and avoid estate taxes. Unlike a revocable trust, irrevocable trusts do not have to pay taxes. In this case, any assets that are placed in the irrevocable trust are no longer deemed to be assets of the settler; instead they are deemed assets of the trustee. The difference is that in a revocable trust, the settler can re-enter into the trust and have the assets retrieved. In an irrevocable trust, this is not allowed. Creditors cannot retrieve assets of the settler in an irrevocable trust, as they can in a revocable trust.

As Bay Financial Associates (2015) puts it, a revocable trust is like a "box with strings" on it -- and all one has to do is pull the string, and the box opens up. An irrevocable trust,…… [Read More]

References

Bay Financial Associates. (2015). The Irrevocable Trust. BFA. Retrieved from http://www.bfa-online.com/news012.html

Ebeling, A. (2015). House votes 240-179 to repeal estate tax. Forbes. Retrieved from  http://www.forbes.com /sites/ashleaebeling/2015/04/16/house-votes-240-179-to-repeal-estate-tax/#f6643f7f3e6f
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Oregon Tax Roberts' Tax Plan

Words: 541 Length: 2 Pages Document Type: Essay Paper #: 93976879



Recommendations

Whatever plan is introduced (or re-introduced) to the legislature and/or the voters of the state needs to be successfully marketed and promoted, beginning with an effective and appropriate internalizing of the externalities of the situation -- the citizens of Oregon need to be made aware of the real costs of failing to implement an effective tax structure to fund the state's operations. That is, the tax must not only be a successful corrective tax that brings the benefits of certain activities within the state in line with the expenses of programs for state citizens, but the plan must be effectively presented as such as well. Essentially, the price of citizenship is not accurately reflected in the current cost of that citizenship in the form of taxes, and more specifically the price of property ownership, the ability to purchase goods, and the ability to earn income is not well-represented and…… [Read More]

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Legal and Ethical Considerations in Marketing Product Safety and Intellectual Property

Words: 3091 Length: 10 Pages Document Type: Essay Paper #: 88383960

Marketing, Product Safety, and Intellectual Property

Ethical issues relating to marketing and advertising, intellectual property, and regulation of product safety

Various organizations often find themselves in the wrong side of the law when undertaking their various business practices relating to marketing and advertisement. It is the desire of every company to have its product known to as many consumers as possible. This often drives them to employ diverse marketing and advertisement strategies that raise some critical ethical issues. The same also applies to the protection of someone's intellectual property and enhancing product safety. This study focuses on deceit, unfairness, and advertising and children as some of the critical ethical issues related to marketing and advertising, intellectual property, and regulation of product safety

Deceit

The Federal Trade Commission is a government branch established to battle deception in advertising. As illustrated in the FTC Act of 1914, the FTC is answerable for…… [Read More]

References

Cheeseman, H.R. (2010). The legal environment of business and online commerce: Business ethics, e-commerce, regulatory, and international issues. Upper Saddle River, N.J: Pearson/Prentice Hall.

Dukes, M.N.G. (2006). The law and ethics of the pharmaceutical industry. Amsterdam: Elsevier.

Palmer, D.E. (2010). Ethical issues in e-business: Models and frameworks. Hershey, PA: Business Science Reference.

Keillor, B.D., & Wilkinson, T.J. (2011). International business in the 21st century. Santa Barbara, Calif: Praeger.
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Analyzing Tax Accounting Memorandum

Words: 628 Length: 2 Pages Document Type: Essay Paper #: 47576402

University has offered its professor $200,000 in order to relinquish tenure and resign. In particular, the aspect to consider is the tax consequence of such compensation. The professor's standpoint is that tenure should be treated as an intangible capital asset, and relinquishing tenure ought to be a long-term capital gain. The main tax issue in this case is whether the relinquishment of tenure encompasses a sale or interchange of a capital asset, which qualifies to be treated as long-term capital gains or should it be treated as ordinary income. The paper will look at cases that have addressed this issue and come up with different ways in which this issue should be treated.

This particular issue was directly addressed in the Foote vs. Commissioner case. The ruling made by the taxation court implied that the tenure does not classify as a capital asset and therefore the relinquishment of tenure by…… [Read More]

References

Everett, J. O., Raabe, W. A., & Gentile, J. (2005). Tenure Buyouts: The Case for Capital Gains Treatment. The ATA Journal of Legal Tax Research,3(1), 78-9.

Leagle. (2016). Merrill J. Foote v. Commissioner, 81 T.C. 930 (1983). Retrieved 10 July 2016 from: http://www.leagle.com/decision/1983101181betc930_1955/FOOTE%20v.%20COMMISSIONER#
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Community Property Law Promote Equity

Words: 1747 Length: 4 Pages Document Type: Essay Paper #: 1543400

Also in the case of divorce, the spouses have to bear the responsibility of proving what all falls under community property for ensuring equitable distribution. Hence we can see that community property law is effective and promotes equity, but, there are certain wrinkles which need to be ironed out for ensuring that the law is followed fairly and justly.

eferences

Abts, Henry W. (2002) "The Living Trust: The Failproof Way to Pass Along Your Estate to Your Heirs..." McGraw-Hill Professional.

Gregory, John DeWitt; ichards, Janet; Wolf, Sheryl L. (2003) "Property Division in Divorce Proceedings: A Fifty State Guide" Aspen Publishers Online.

Lawyers Attorneys. (2007, May) "Community Property Law" etrieved 17 April, 2008 at http://legalcatch.wordpress.com/2007/05/22/community-property-law/

N.A. (2008) "Family Law - Divorce Law - Community property" etrieved 17 April, 2008 from http://family-law.freeadvice.com/divorce_law/1community_property.htm

N.A. (2008) "Married Couples: Who Owns What?" etrieved 17 April, 2008 at http://www.nolo.com/article.cfm/pg/4/objectId/70F6390D-B251-4CA7-A0B734844FB69A31/catId/F251EA55-13A9-4EE0-85D21CEB27636030/309/298/AT/

N.A. (n. d.) "The Ins and Outs…… [Read More]

References

Abts, Henry W. (2002) "The Living Trust: The Failproof Way to Pass Along Your Estate to Your Heirs..." McGraw-Hill Professional.

Gregory, John DeWitt; Richards, Janet; Wolf, Sheryl L. (2003) "Property Division in Divorce Proceedings: A Fifty State Guide" Aspen Publishers Online.

Lawyers Attorneys. (2007, May) "Community Property Law" Retrieved 17 April, 2008 at http://legalcatch.wordpress.com/2007/05/22/community-property-law/

N.A. (2008) "Family Law - Divorce Law - Community property" Retrieved 17 April, 2008 from http://family-law.freeadvice.com/divorce_law/1community_property.htm
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Economic the Right to Private Property and

Words: 445 Length: 1 Pages Document Type: Essay Paper #: 40223542

Economic

The right to private property and inheritance without taxation are essential to a Christian worldview. This assertion may seem counterintuitive at first, given that Christianity is often viewed as an otherworldly religion. However, the faith structure of Christianity contains not simply a core of teachings designed to prepare the individual for the life to come, but life lessons to enable the individual Christian to live a more fulfilling life upon the earth.

The meek shall inherit the earth," Jesus notes in his Sermon on the Mount from the Book of Matthew. This is the most famous quotation directly on the subject of inheritance from the New Testament. However, rather than a counsel to meekness and an admonition to Christians to act in a retiring fashion, this quotation also suggests that it is necessary to pass on from generation to generation, a common Christian value system. The earth is important…… [Read More]

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Gift Tax and the Irrevocable Trust for Estate Distribution

Words: 579 Length: 2 Pages Document Type: Essay Paper #: 38881606

Irrevocable Trust Letter

Dear Mr. Feinstein:

I enjoyed seeing you again at the Fosters' party. Hope everything works out for you and your wife with the upcoming trip!

You had asked about establishing an irrevocable trust for your two grandchildren. This would be a good way to ensure that the children are paid by the trust for 20 years with the principal distributed to them at the end of that time. However, there are certain stipulations that must be met with an irrevocable trust. With a revocable trust, you still maintain some control over the assets. With an irrevocable trust, this is not the case. The assets belong totally to the trustees and they are responsible for maintaining them. Your control over how that management is conducted is gone.

With that said, there is no reason to think this would be anything other than a good arrangement. For example, an…… [Read More]

References

Carnes, D. (2015). Tax consequences for revocable and irrevocable trusts. Zacks.

Retrieved from http://finance.zacks.com/tax-consequences-revocable-irrevocable-trusts-2838.html

Helsell, Fetterman. (2013). Irrevocable Trusts. Helsell. Retrieved from http://www.helsell.com/faq/irrevocable-trusts/

Nash, Kromash. (2015). Irrevocable Gift Trust. NK. Retrieved from http://www.n- klaw.com/irrevocable-gift-trust/
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Public Budgeting Public Schools Are

Words: 922 Length: 3 Pages Document Type: Essay Paper #: 31499688



Property tax relief is a subject that arises when the elderly or poor struggle to meet their property tax burdens. If they are long-term residents, they can be caught up when their neighborhood sees a dramatic increase in property values. There are sometimes mechanisms that governments use in order to provide relief.

Both tax credits and rebates can be used to help return some of the money paid or that is owing from eligible property owners, in order to help relieve from of the burden. This method is direct, and puts the money back into the hands of those who need it. However, this method relies on being able to determine who needs relief. People often have control over their financial situation so an inability to pay does not necessarily reflect somebody with a lack of opportunity to pay. It can be hard to qualify people for relief because of…… [Read More]

Works Cited:

TLC. (2006). State roles in financing public school facilities. TLC Research Division. Retrieved November 29, 2012 from  http://www.tlc.state.tx.us/pubspol/OnlineFinancePubSch.pdf 

Pennsylvania Department of Education. (2012). Property tax reduction allocations. Retrieved November 29, 2012 from http://www.portal.state.pa.us/portal/server.pt/community/property_tax_relief/7452/property_tax_reduction_allocations/510335