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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]
A tax professional would not face jail time for committing a crime if he or she is not informed of the client's deceit. They may however, have to endure years of auditing to ensure this does not happen again, resulting in a need for charging excessive fees to compensate for time lost during auditing. This is damaging to the tax professional and the person (s) filing their taxes.
As Calhoun, Oliverio, & Wolizer (1999) note, attention to the moral and ethical standards established in the U.S. regarding taxes pressures citizen, organizations and tax professionals to engage in "ethical behavior mounting" to discourage frivolous time and penalties associated with incorrect filings (p.1). The CPAs role, according to Copeland (2005) is to "regain the trust and respect" of citizen and government of auditing professionals, a respect most attorneys and accountants used to have (p. 35). The tax preparer may also inform the…… [Read More]
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]
Oil and Gas is currently at the core of ussia's economy, even though there has been talk at the head of the ussian federation of intentions to attempt to move the economy from one which is based solely in these natural resources, to one which is based on rapidly evolving technology. Of course it will be at least a decade before movements and developments in this fashion are able to unfold with real significance. However, given the strong presence and foundation of the oil and gas sector in ussia's economy, it is natural that the bulk of the regulatory law is founded around these pillars.
Excise taxes in ussia refer to taxes which need to be paid out on certain goods in ussia, such as raw and refined alcohol, alcoholic drinks which are stronger than 1.5% by volume, cars and motorcycles with engines that have horsepower…… [Read More]
Q1. Why is a budget important for a nonprofit institution?
Even if an institution is a charitable nonprofit, it must still adhere to a budget. Nonprofits must be accountable to donors and shareholders for the ways in which they spend their funds. Additionally, although nonprofits are not run for the purpose of making a profit, this does not mean that they can be spendthrift and sink into insolvency. Like all institutions, they must make do with scarce resources and budget them accordingly. In fact, given that nonprofits often are short of funds if donations and other sources of funds are scarce, budgeting may be even more essential.
Nonprofits also employ workers who expect to be paid. Workers do not all work for charities out of the goodness of their hearts, and professional employees are almost always necessary for a nonprofit to be effective. Nonprofits are not necessarily barred from making…… [Read More]
If the decision is made to remain affiliated with the taxpayer, the member should ensure that the error is neither repeated nor perpetuated.
The rules and regulations implemented for tax service providers and other officials working with taxpayer clients are established in order to ensure the stability and ethical values of the position. Taxpayers are very important, as they uphold the economics and financial health of their community and their country. In this regard, it is the obligation of the tax service official to respect both the system and the client by upholding a high level of ethics.
In turn, the taxpayer should assist the preparer in the mission to provide accurate information that is free of errors. In the case of errors, it is important to emphasize that the system does provide for human error. If either the tax preparer or the taxpayer can be shown not to…… [Read More]
Tax Deductions: Are Unpaid Loans Tax Deductible?
John loaned his friend Jack $1,000. Jack did not repay the debt and left town. John wants to know if he can claim any tax deduction, and, if so, what is the character of the deduction? However, to answer John's question, one must first find out more information about the nature of the loan. This is critical because there are two broad types of loans and debts: business loans and personal loans. Furthermore, under the correct circumstances, it is possible for people to take tax deductions for certain types of business loans and personal loans. Knowing whether John made Jack a loan from his personal money or from his business money is the crucial first step in determining which, if any, Internal evenue Service (IS) regulations or tax laws will permit John to deduct the unpaid debt.
If John is a business owner…… [Read More]
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
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]
..individuals are taxed in their total annual income minus their net new additions to savings, which equals annual consumption (eiler).
Both forms of consumption tax are not without their troubles and for the most part there is no consensus on the benefits of either alternative. Overall, the quest to reform the current system of taxation rages on. It will be very difficult to reform the current progressive tax system of because it is so steeped in bureaucracy and tradition.
The purpose of this discussion was to examine the progressive income tax. e found that the this tax system operates by taxing a certain percentage of individual income excluding certain deductibles. The investigation detailed the history of progressive taxation and clearly defines progressive taxation. The investigation revealed that the implementation of such taxation was controversial since its inception which came as a result of an amendment to the constitution. In…… [Read More]
Tax Planning -- Employer (II of II)
Tax Planning - Employer
The marketplace that businesses operate in has become more and more globalized and international in nature, not to mention extremely competitive. This particular report will focus on the employer and their tax implications when it comes to operating and/or headquartering in one or more countries around the world. The prior report focused on the employee. While the implications for the employee are complicated and diverse enough, they become even more complicated when speaking of the employer, and for a number of reasons.
Just as there were a number of considerations relevant to the employee and their tax treatment, there are a number of tax considerations that USCo will need to consider for themselves and they are as follows:
The actual headquarters location (nation, state/province and county/city)
The actual locations outside of that home country (or state and city)…… [Read More]
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]
Table of Contents (optional)
Louise is aged 50 and single. Since 1994 she has carried on a retail business as a sole trader. Her trading profits as adjusted for tax purposes and after capital allowances, for the year ended 30th April 2009 were $150,000.
The business is carried out from a number of valuable retail outlets, all of which are owned by Louise personally. These units have been acquired over a number of years since 1994 and their market values have increased considerably in recent years.
Apart from her single personal allowance tax credit, Louise is entitled to income tax relief in respect of $10,000, which she pays annually to a evenue approved pension scheme.
Louise's personal living expenses and other financial commitments total $50,000 per annum (including the contribution of $10,000 to the evenue approved pension scheme referred to above).
Louise is considering transferring her business to…… [Read More]
Tax esearch Memorandum
From: Tax Accountant, CPA
You incurred $15,000 of educational expenses over the past year in pursuit of your MBA, part of your professional development as a practicing egistered Nurse and nursing administrator. Your employer does not offer an educational expense reimbursement program, and you wish to claim these educational expenses as business expenses in order to claim greater tax deductions. You have worked in numerous administrative positions in your capacity as a nurse, and feel that the pursuit of an MBA was a clear part of your career development.
The only issue is whether or not the education you received at the expense of $15,000 can be deemed work-related education as defined and applied by the IS, which recognizes such expenses as business expenses for employees. If the education can be deemed work-related according to IS rules and definitions, the deduction of the…… [Read More]
Laws elating to Different Businesses
Laws elated to Different Businesses
Entrepreneurship is the hallmark of the U.S. economy and more people are starting their own ventures today than ever before. While starting a business, one of the most overlooked aspect is the laws and legal requirements. A good amount of time and effort should be spent on understanding and implementing these related laws because they will make the operations and expansion easy in the future.
Federal, State and Local Agencies
The exact agencies and laws that govern your business depend upon its nature. Starting a pizza business comes with permits and licenses from different health agencies. The local health department of your city or county is responsible for issuing a permit, requesting an inspection or filing a complaint. Your business also needs a business license or tax permit from the city or county revenue department (SBA, 2011). For a web…… [Read More]
International law: Paralegals in this field may work for government agencies that deal with international trade or multinational firms. Expertise in foreign languages is preferred.
Corporate law: Paralegals in this field assist "with employee contracts, shareholder agreements, stock-option plans, and employee benefit plans. They also may help prepare and file annual financial reports, maintain corporate minutes' record resolutions, and prepare forms to secure loans for the corporation" (Paralegals, 2009, BLS).
Criminal law: In criminal law practice, paralegals are often given the task of identifying "appropriate laws, judicial decisions, legal articles, and other materials that are relevant to assigned cases" (Paralegals, 2009, BLS). They may depose witnesses, keep track of evidence, or more generally monitor the progress of cases through the criminal justice system.
Litigation: Litigation paralegals "analyze legal material for internal use, maintain reference files, conduct research for attorneys, and collect and analyze evidence for agency hearings. They…… [Read More]
The common guiding principles of economics provide little direction. As a consequence, U.S. international tax policy is a clutter of rules with a diversity of political and economic reasons. It is frequently described as a concession that strikes a balance. Policy leans toward tightening foreign tax rules and putting foreign income on equal footing with U.S. income when it is thought that foreign investment hurts the U.S. economy. Then policy leans toward relaxing the rules and giving foreign income favorable treatment if it is thought that foreign investment promotes U.S. interests (Sullivan, n.d.).
Due to the fact tat every government charges taxes by its own process and at its own rates, the ensuing system of international taxation often warps investment and adds to reductions in international economic well-being. The environment of these alterations depends on the way of taxing profits from international investment. If investment earnings are taxed only at…… [Read More]
Not all offense levels are entitled to a jury trial and each jurisdiction has its own standard in this regard. As a general rule, however, any offense involving the possibility of incarceration as a sanction is entitled to the benefit of a jury trial. This same standard is applicable, as well, to the right of every defendant to be represented by counsel. In all cases, regardless of the seriousness of the offense, the rules of criminal procedure grant the defendant the right to confront any and all witnesses involved in the formation of the charges against him. This right includes the right to cross-examine all such witnesses and to require their attendance at trial through the use of a subpoena.
The distinguishing factor that separates criminal trials from civil ones is the burden of proof. Criminal Procedure in all U.S. jurisdictions requires that guilt in the criminal court is based…… [Read More]
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]
functioned by a state or educational organization, like a college, with tax compensations and hypothetically other inducements to make it cooler to save for college and other post-ancillary training for a selected beneficiary, such as a juvenile, daughter/son, or grandchild (Feigenbaum 2002, pg. 34). 529 plans apart from secondary benefits, have a main advantage linked to earnings.
The earnings of a person enrolled in a 529 plan are not subject to federal tax and normally not subject to state tax when used for the qualified education expenditures of the selected beneficiary. These expenditures would typically include: tuition, books, fees, books, even room and board. There are some things that are not deductible in a 529 plan, one such are contributions. Additionally, it is important to keep in mind that the IS, from time to time, will update or modify their tax laws.
Since 2009 or 2010, a qualified, nontaxable distribution…… [Read More]
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]
ather than being idle and receiving public benefit, individuals of working age typically prefer completing useful work. Mark P. Altieri, an associate professor of accounting at Kent State University, Kent, Ohio, and Jason A. othman, (2006), an associate at Wickens, Herzer, Panza, Cook and Batista, note a number of enhancements to WOTC in the article, "Surviving Katrina: Tax breaks for victims of the costliest catastrophe in American history."
According to Altieri and othman (2006), in regard to the WOTC - general law, under IC section 51, the WOTC provides motivation for employers to hire economically disadvantaged individuals. These disadvantaged individuals include qualified ex-felons, food-stamp recipients, veterans, summer youth employees, as well as individuals who receive certain welfare benefits (Altieri & othman, ¶ 23). Altieri and othman explain that in the past, the WOTC -- Katrina was expanded to embrace individuals whose principal residence on August 28, 2005, was located in…… [Read More]
Capital gains and dividend taxes were both initiated in the early 1970's, by the Democratic Party. efore dividend taxes were enforced, the government made its money through higher aftertax yields, The dividend tax was originally supposed to be a progressive measure, so that the wealthiest paid correspondingly more than the poorest because they had benefited more. At this time, only the wealthy invested in stocks. This is no longer true. Most middle-class people today are investors in the market and they do not have the expensive accountants hired by the rich to shield their investments from tax.
Investing in the stock market has become far more widespread over the last two decades, as 84 million people - representing nearly half of all American households - owning stock. Tax-deferred investment tools such as 401(k) plans and individual retirement accounts (IRAs) have placed millions of Americans who make $60,000 or…… [Read More]
The other side of this is that the companies have to spend finances in areas of language training or job training when they outsource. However, over the years, many U.S.-based companies haven't been discouraged by these additional costs because the overall costs of outsourcing with the job training session and language teaching and outplacement requirements are still far less when compared to the costs that they would have to endure when they don't outsource. If the overall costs of outsourcing was even marginally close to the costs on domestic hiring then there is a high probability that the overall right of firing of the employers would not be employed as much as it ahs been in the past. Of the negative perception of using the firing right at such an extensive level does create negative images which the company has to spend money to correct and rebuild into positive images…… [Read More]
U.S. TAX in the TEATMENT
US Tax Treatment
Items of income considered earned from within the U.S.
Earned income can be defined as the payment for the performed personal services, for example wages, professional fees or salaries. The list below provides the categories of the types of income tax. It is essential to appreciate the fact that deductions made on the income are determined by the category in which the income falls. The column with heading variable income consists of income in the category of either unearned or earned income or even both (Fraser, 2009).
Types of income
Variable income: they include rents, royalties, and business profits
Unearned income: such incomes include annuities, pensions, social security benefits, Alimony, gambling winnings, capital gains, and interest dividends.
Earned income: tips, professional fees, bonuses, commissions, wages and salaries
Besides the types mentioned which always occur in the form of cash, other taxable sources…… [Read More]
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]
Non-Profit Organizations in United States of America and France
COMPAISON OF NON-POFIT OGANIZATIONS IN UNITED STATES OF AMEICA AND FANCE
Non-Profit Organizations in France and the United States of America
Association Loi 1901 is the name given to a not for profit making organization that comprises of two or more people. This name has been derived from the convention that was entered in the French Law on the 1st of July in the year 1901. A not for profit in France can operate without declaration as well. If the organization is not declared then it does not exist as a legal entity and comes under the collective membership of its owners. (Staff Members of the Cecaudit International Inc., 2014)
The organization, however, is required to get itself declared if it needs to create a bank account or go for fundraising. In addition to that, the organization is also…… [Read More]
Carbon tax in the Australian legislation
The threat of global warming is no longer to be neglected and international action is coming to be taken, and even supported by federal institutions. In Australia, the government has focused on the development and implementation of a legislation to tax carbon emissions. The measure has been welcomed with both praises as well as criticism, but its implementation is underway and the benefits would be felt on the long-term.
Global warming has generically been a highly debated subjected, with activities on the one hand arguing that the threat is irreversible and that the safety of the planet is in great danger, whereas corporations arguing that global warming is a make belief phenomenon. ExxonMobil for instance invested millions of dollars each year in campaigns which denied the existence of global warming (Mandia, 2011).
This year however, global warming became a verified fact and it is…… [Read More]
Business Law and Christian Ethics
The terms limited liability and liability protection are often used interchangeably to describe business arrangements that limit the amount of a firm's liability, generally to the amount of assets held by the firm. In other words, those types of business arrangements protect an individual's personal assets from judgment should the person be sued in a professional capacity. One frequent example of a limited liability business arrangement is the limited liability partnership, which essentially "protects each partner from debts against the partnership arising from professional malpractice lawsuits against another partner" (Pakroo, 2013). In those instances, the liability limitation is not limited the individual assets of the partners, but also extends to property owned by the partnership.
Whether or not limited liability or liability protection aligns with a Christian worldview is a tricky moral question because it presupposes that all people who enter into those types of…… [Read More]
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]
This issue is compounded for the self-employed when retail/sales tax is added into the mix as these payments are also required quarterly, not payable when collected. This issue is simply a non-issue for an employed person as the retail/sales tax is again paid quarterly by the employer and the employee deals only with direct transaction, calculations, most of which are done automatically. These additional taxes are collected by the individual self-employed person where they are applicable, which is the majority of U.S. states and are now even collected for some online transactions in certain states, regardless of the funds availability when they are due. So, again this is something the self-employed person must take into consideration on almost a daily basis, i.e. saving collected retail/sales tax whenever it is paid or expect to write difficult checks when taxes come due. Additionally, understanding the sales tax laws in different states where…… [Read More]
same-sex marriage refers to a legal married union between two persons of the same sex. In other word, same sex partner is a man legally married to another man or a woman legally married to another woman. Since same sex marriage is a new development in the United States, the federal government has faced challenges in treating the tax issues of same-sex individuals entering into marriage. The IS's (Internal evenue Service) ruling of 58-66 in 1958-1 C.B.60 determines the tax purpose for individuals who have entered into a common law marriage. Under the state law administered by the Federal income tax laws, the IS acknowledges that it recognizes individual's marital status.
Under IS uling 58-66, the Service states that a couple will be treated as married based on the Federal income tax filing purpose, and the IS has applied this uling 58-66 for over 50 years. (Internal Service evenue, 2014).…… [Read More]
Transaction Under Each of the Five Ethical Theories
Juanita's behavior is clearly in contravention of a normative code of ethics since each of the world's religions proscribe bribery. The Bible, for instance, as does the Koran goes on in depth about the severity of perverting justice and bring officials or any one involved in the jurisprudence sector.
Utilitarianism is somewhat stickier in application. If Juanita's behavior provides the greatest amount of people in her environment with pleasure, she can, consequently, proceed. Utilitarianism is, however, not so clear in this situation for how do you define and set the limits to providing happiness t o the greatest amount of people. Who are the majority in this case? Are they the employees in Giantcorp and the bribed official (as well as recipients who profit from the bribe)? Are they competitors to the company? Are they the specific country? Or…… [Read More]
Promissory estoppel is a term in the common law doctrine that is used by courts to implement promises made and consequently relied upon. This law doctrine is usually used when there is no formal contract though the involved parties have acted as if there is such a contract. As courts dictates the terms of how these promises should be implemented, they use this doctrine to enforce contract on the agreement in the interest of fairness. Notably, this doctrine emerges when injustice can be prevented only by the enforcement of a promise that could be unenforceable due to lack of consideration. In most cases, promissory estoppels doctrine is applicable in the context of charitable donations.
When this law doctrine is used, the promisee's reliance is regarded as an adequate and independent basis with which the promise is enforced. As a result, the doctrine can be seen as a legal advice that…… [Read More]
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]
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 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]
This is designed to help support individuals who are dealing with financial challenges. The problem is that select amounts of recipients will use as a way to live off of the government. (Wolf, 2005)
How might a socialist and a capitalist government differ in its treatment of the problem of unemployment?
Socialists want to see massive amounts of government spending to create new jobs, training programs and provide unemployment benefits. A capitalist is opposed to these kinds of programs and believes that charities / private enterprises can address these issues.
In your opinion, should the government have the responsibility of providing health care for every citizen? Why or why not?
Yes, the government should provide health care. The reason why is because prices are increasing exponentially and the number of uninsured is rising. These factors are a sign that there is very little competition inside the sector. To address these…… [Read More]
The length of time allowed for debate on a bill depends on the importance of the proposed measure and the debate time is usually divided equally between the proponents and the opponents of a measure. After the general debate, a 'second reading' of the bill is carried out during which members of the House (or the Senate, if the bill has originated in the Senate) are allowed to propose amendments in the bill ("Enactment of a Law"; Johnson 27-28).
Voting: hen the amendment process is completed, the bill is put up to the house for voting. Normally a simple majority vote is required for the passage of a bill. However, the House rules require a three-fifths vote to pass a bill, joint resolution, amendment, or conference report that contains a specified type of federal tax increase. In most cases, the voice vote is considered adequate for the voting process but…… [Read More]
In high school students must pass regents examines before they are able to graduate.
If a Title I school does not show annual progress for two consecutive years, that school will be identified as a "needs improvement school." The district is mandates bylaw to take whatever actions are needed to correct the situation by the following year.
The NCLB laws place reading at the top of the priority list in academic subjects.
North Carolina schools comply with all federal and state laws with regard to its school system.
The schools are funded by federal, state and county taxes which are earmarked not only for education but for specific segments of the public school system.
Legislators in North Carolina have to walk a line between making sure mandates are being met while at the same time being sure they are properly educating the children in their districts.
Often times the two…… [Read More]
law help protect the environment and what steps can citizens take to ensure that the law accomplishes this goal?
Protection of the environment is important for our health, but humans affect the system through various means such as through polluting water and atmosphere with toxic gasses, with oil, with car fuels, and with debris that is plunked into the waters as well as depleting the fisheries and filling the air with smog and the earth with pollution.
It is for this reason that legislation is put into effect to curb our destruction and to teach us how to look after the environment in better ways. The state employs its own regulations, but it needs a synthesis of both state, business and citizen involvement to safeguard the environment, and motivation from both business and citizen is not always forthcoming. The following essay discusses policies that have been implemented to help protect…… [Read More]
In order to fully safeguard the country's borders, it is necessary to take into account that criminals tend to develop as fast as new technology can be implemented. Hence it is important to improve methods for intelligence, surveillance and reconnaissance, analysis and training, and support efforts to deter not only illegal aliens, but also the substances some of them bring into the country. On the other hand, it is also important to recognize the human element inherent in the immigration problem. Some believe they have no choice but to risk their lives in order to have any quality of life at all.
Camarota, S.A. (2004). The High Cost of Cheap Labor: Illegal Immigration and the Federal Budget. Center for Immigration Studies. etrieved from http://www.cis.org/articles/2004/fiscal.pdf
Msnbc.com. (2010). Obama orders 1,200 Guard troops to border. etrieved from http://www.msnbc.msn.com/id/37340747
The White House (2010). emarks by the President on Comprehensive Immigration eform. American…… [Read More]
Australia's Corporation Act 2004
Australia Corporations Corporation Act 2004
The purpose of this research is to investigate the Corporations Act 2004 (Cth) in relation to the protection it provides for investors of non-profit corporations. Through research of the Trade Practices Act, current case law and the Australian Investment and Securities Commission provide an overview of what has changed in the regulations for corporations in Australia in 2004 thus far.
Australian Supreme Court sated in 2003 that: "the governance of corporate entities comprehends the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled in corporations." Australia has recently implemented new regulations which, enhance and harmonize corporation law.
The alignment of the regulations with elements that are known to be those of a competent and responsible board of directors in view of strategy determination, performance review, risk management, internal control regulation and reporting to shareholders…… [Read More]
prediction comparison vote real members House Representatives a law. 1. You choose real members House Representatives, Republican Democrat. (There 435 members House, find interests .
A tax on obesity as seen by Republican member of the U.S. House of Representatives Bill Cassidy and Democratic member of the U.S. House of Representatives James McGovern
Obesity has come to be a significant issue in the United States today, with more and more individuals displaying the malady's symptoms. As a consequence, the authorities have gotten actively involved in trying to control it through installing tougher regulation and by implementing programs meant to educate people with regard to attitudes they should take toward the concept. hile agreeing about the significance of this issue, American politicians seem to have different opinions on the matter -- some believe that the solution stays with tougher legislations while others consider that it all comes down to education and…… [Read More]
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
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]
life we are always faced with situations where the rights on one individual overlap those of another, causing a legal conflict that is often decided upon in the court of law. In many cases, these are private rights, but we are sometimes in a situation when the rights delimitation is imposed by the government, as is the case with the tobacco industry and smoking regulations and delimitations.
The problem with smoking in public places bares much resemblance in Canada, Europe or the United States. The right of smoking individuals to smoke in public places was gradually and constantly diminished to the degree that nowadays smoking in restaurants, offices or any closed locations. The movement against smoking in public places seems to have started in Canada in the early 1990s, when the City of Toronto emitted a series of by-laws, referred to as The Workplace Smoking y-law. This law "requires all…… [Read More]
ender to Ceasar the Things That Are Ceasars
ender unto the Caesar the Things that are Caesar's
"ender unto Caesar what belong to the Caesars" is the beginning a phrase ascribed to Jesus in the synoptic gospel, which fully reads, "ender unto the Caesar what are Caesar's, and unto God what belong to God." This phrase has been a widely quoted and controversial summary on the relationship between the contemporary secular authorities and Christianity. The origin of this message was from the response posted to a question on how lawful it was for the Jews to pay taxes to the Caesar. This phrase gave rise to all possible and multifaceted interpretations (obert & Miller 1995, 421) concerning the conditions under which it could appear desirable for Christians to earthily commit themselves to earthly authorities. All the three synoptic gospels elicit a group of hostile questioners who tried to trick Jesus…… [Read More]
Health and Legislative Issues
All Americans have the desire of having a healthcare system which is capable of delivering world-class security together with financial security. The system in place should always be accessible and one that impacts the economy positively. Successful healthcare reforms will lead to a maximization of the choices available for consumers put a restrain to the ever increasing medical care costs and make healthcare accessible to more and more Americans. There are a number of organizations that have consistently urged the president and congress on building on the existing systems which strengths in order to achieve health reform solutions that are workable in a bipartisan manner. However, there are some healthcare legislative issues that come up and have effects on various stakeholders such as legislators, consumers and other healthcare professionals. This paper will look at one of the current health legislative issues, who is affected most by…… [Read More]
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]
Law Enforcement Funding
Police departments, along with other urgent and vital agencies like fire departments and other public safety divsions, enjoy the luxury of being among the last departments to be cut when funding is tight due to the necessity of keeping fire and crime prevention agencies in full effect. That being said, police departments can absolutely use other means other than tax dollars to fund their efforts, and often at the expense of criminals. While there can be limits, it is entirely possible and practical to fund police activities and duties without using public dollars and many are already in full effect in many departments.
One quick and easy to fund police activities is to seize assets used in the commission of felonious behavior and auction it off to the highest bidder. The proceeds can then be used to fund police activities. Examples of items that can be seized…… [Read More]
Tax Avoidance & Firm Growth
What follows in the next few pages is a review of whether there is a correlation between tax avoidance with corporations and firm growth. Indeed, looking at the literature reveals that the evidence is mixed but that the overall answer is a condition "yes," that there can indeed be a link between tax avoidance and firm growth. To explain the conditional nature of the answer garnered, one can look to the work of Desai, Foley and Hines (2006) when they assert that "firms with sizable foreign operations benefit the most from using tax havens, an effect that can be evaluated by using foreign economic growth rates as instruments for firm-level growth of foreign investment outside of tax havens" (Desai, Foley & Hines, 2006). They further state that "one percent greater sales and investment growth in nearby non-haven countries is associated with a 1.5 to 2%…… [Read More]
It covers a specific device or process and it protected by the Patent Act. A patent can be enforced through the legal system. By contrast a trade secret more difficult to protect through the legal system. A trade secret is not generally known to the public whereas a patent is publicly viewable. A trade secret can be protected in states that subscribe to the Uniform Trade Secrets Act, but typically cannot be protected once the secret has been revealed.
There are a number of common encumbrances on title. Some examples are liens, mortgages, judgments, unpaid taxes, clouded title, easements and other restrictions.
A sole proprietorship is a form of business wherein the individual proprietor bears all liability for the business -- the business is not a distinct legal entity. Sole proprietorships are simple and inexpensive to set up and administer. However, the proprietor faces unlimited liability and pays taxes at…… [Read More]
Revival of revoked wills. In most cases, a revoked will is not revivable unless it is reexecuted or revived by codicil; however, if a revoked will was destroyed, it cannot be revived in this fashion.
Dependent relative revocation. These are mistakes of law made by the testator concerning the disposition of property that can be disregarded in the administration of a will.
Components of a Will
Integration. This term refers to the collation of various sheets of paper into a cohesive whole which constitutes a single, entire will which is executed via a single act.
Incorporation by reference. A majority of states allow documents that were not integrated into the single, entire will to receive the same force and effect by referencing them in the will.
Facts of independent significance. This term refers to the description of intended beneficiaries or bequests in a will that…… [Read More]
Common-law judges rely on their predecessors' decisions of actual controversies, rather than on abstract codes or texts, to guide them in applying the law" (Common law, 2008, law library). The law evolves with custom and interpretation, rather than remains fixed in stone.
Common law may be contrasted with civil law, which predominates in France and has had less influence on the law of the United States, except in Louisiana. Louisiana judges, unlike their common-law counterparts, are not bound to consider judicial precedent first, but may do so as an option. France exported the system of civil law to America when it established Louisiana as a colony in 1712. Even today, "the first article of the Louisiana Civil Code reads: 'The sources of law are legislation and custom' (LA C.C. Art. 1). This means that judges in Louisiana are obligated to look first to written laws for guidance in reaching their…… [Read More]
Canadian Business and the Law
Does Canada have too much business law?
This is paper is based on the Canadian business law and all the information so mentioned are related to the book titled "Canadian Business and the Law" which is written by authors Dorothy DuPlessis, Steven Enman, Sally Gunz and Shannon O'Byrne. This text forms the single source of reference for this study.
Two topics will be discussed based on what this paper is about, and they will include; the most important aspects of the Canadian legal system for businesses operating there and secondly the relationship between business ethics and the law in business in the Canadian context.
Important aspects of the Canadian legal system for business
It is always an important topic when discussing about doing business in Canada; the legal system has a very huge impact on commerce in the country and generally it influences on how…… [Read More]
After reading the Gilbert Law Summary on legal writing and research, a law student would be much better prepared to begin his or her educational career in research and analysis. As previously stated, the student should feel more adequate to tackle the research portion of any legal project, but the actual writing and analysis would need further development as only actual experience may provide. Honigsberg's introduction into the vast world of legal study should help pave the way for a better knowledge of what exactly is entailed in researching the law. His outline source should be used as a basic guideline for organizing a study of legal cases, and is a must for any student's law collection. The definitions and insight into the U.S. legal system provided by Honigsberg should make the research process a little easier to understand. As most researchers know, finding a place to begin when there…… [Read More]
This is one of the most difficult types of structures as far as agency law is concerned because an LLC can resemble a sole proprietorship or a corporation depending on the structure and daily management. There are many variations in the way an LLC is managed.
There are two basic types of corporate entities, an S corporation and a C corporation. An LLC, S corporation, and a C corporation can act as entities in and of themselves. The differences between the S. And C corporation have to do with tax structures, but in many other aspects they are identical. They have the right to conduct business as if they are separate from the individuals within them. This means that the corporation can also incur legal liability arising from the actions of one of its representatives (Thompson, 2003). These are the basic forms of corporation in the United States. However, there…… [Read More]
Tax Research Memo
Personal Injury winning treatment and other issues research
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]
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]
people obey or disobey the law?
Many individuals are inclined to feel that the modern society is too rigid and controlling because of the numerous laws that have been imposed through the years. These people consider that humanity was meant to be free and that a free society would function much better than one that obliges its members to take on particular attitudes. However, the truth is that humans are probable to trigger chaos if they are not controlled by a solid system of legislations. This means that a healthy social order would have to understand and respect laws in order for people to be able to live in peace.
Although law is one of the principal tools that assisted mankind in experiencing progress, many communities in the contemporary society have differing understandings of particular laws. hile it might seem that the whole world can act in agreement with a…… [Read More]
Federal and State Court Systems in George
The federal and state court system in the United States is tasked with providing timely adjudication of all cases within their jurisdiction. Each of the several states, including Georgia, is part of a larger federal system of district courts and courts of appeal, and their courts have their state-level counterparts, each of which is responsible for hearing cases of certain types. To determine which courts are responsible for what in the State of Georgia today, this paper provides a review of the relevant literature, followed by a summary of the research and important findings concerning the federal and state court systems in place in Georgia today in the conclusion.
eview and Analysis
The Federal Court Structure in the Southern District of Georgia
The U.S. Courts of Appeals for the Eleventh District for the Southern District form part of the overall adjudicative coverage of…… [Read More]
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.
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]