Category Archives: Taxation Law

a recent tax fraud case. It is preferred that you discuss a case involving an individual taxpayer

Write a 2 page paper on a recent tax fraud case. It is preferred that you discuss a case involving an individual taxpayer. If you can not find an individual tax case that interests you, then write about a corporation or other business entity. Explain how the taxpayers were cheating, how long the cheating had occurred, how they got caught, and what punishment was imposed on the citizen(s). Include dollar amounts to show the significance of the case. Examples of tax fraud cases may be failure to file tax returns or significant underreporting of income or overreporting of expenses. Do you think the punishment was appropriate? Please keep your paper to 2 pages, no cover sheet, just your name at top of first page. Cite your source(s) at….

Advise Elwood as to the tax implications of each of these disposals and calculate any amounts required to be declared in his tax return

This case study must be presented as an individual effort. The case study requires individual research using a range of tax resources. It is expected the student will survey the relevant literature, including decided cases, and select appropriate additional resources. The case study is designed to incorporate uncertainty. The student is expected to develop a piece of work which is written advice for their client. It must therefore identify the facts and issues presented by each aspect of the case study, identify and apply the relevant legislation and/or case law, come to a conclusion and make a recommendation as to the most appropriate application of the relevant law to the circumstances to the client. This assessment assesses your research skills, your ability to synthesise an original piece of….

You are working at an accounting firm. Your overall task is to advise clients on how to structure their business – either as a partnership or company.

Your Brief

You are working at an accounting firm. Your overall task is to advise clients on how to structure their business – either as a partnership or company. The clients’ circumstances are extremely important considerations.

You should not consider the topic of trusts, as they are used primarily to minimise tax, and tax law is not part of this course. (Assume that the clients instruct you that they’ve had bad past experience with trusts because of the extra administration and accountancy fees that trusts create, and they don’t want to do that again). You should also avoid any advice on tax. The tax implications of business structures are more complicated than websites suggest, and since tax is not part of this course, you should avoid it…..

Zane Brown is employed as a lawyer at Copland Lawyers (a large law firm) in Brisbane; – Income Tax Law

General Facts:

 Zane Brown is employed as a lawyer at Copland Lawyers (a large law firm) in Brisbane; he is an Australian resident for tax purposes. Zane has been working for Copland Lawyers since he graduated from university. Zane is currently single, and has no dependants.

 

Last year, Zane utilised the services of a local registered tax agent ‘Tax King’ in Albion to complete his 2016/17 income tax return. However, he was quite dissatisfied with their service and has approached you to assist him in preparing his 2017/18 income tax return.

 

Zane has supplied you with the following information relating to his personal income tax affairs for the year ended 30 June 2018. However, he is not certain as to which items are assessable or deductible…..

Milly Manpower, age 45, is single and has no dependents.  Her social security number is 987-65-4321.  Milly lives at 3000 Westcliffe Drive, Cedar City, Utah 84720

TAX RETURN 2 INSTRUCTIONS

CASE FACTS

 

Milly Manpower, age 45, is single and has no dependents.  Her social security number is 987-65-4321.  Milly lives at 3000 Westcliffe Drive, Cedar City, Utah 84720. She has no interest in contributing to any Presidential Election Campaign.  The following are her tax related items:

 

Milly has a full-time job as a senior administrative assistant at Let’s Get To Work, Services, Inc. She earned a $60,000 salary from Let’s Go To Work, Inc.  They withheld federal income tax of $6,000 and state income tax of $4,000. Milly received a year end performance bonus from Let’s Go To Work, Inc. in the amount of $3,000. $600 of interest income from Wells Fargo Bank. $1,000 of interest income from Iron County Water….

JOHN MONALILO & RR BUSINESS-You have just been hired by John Monalilo as a part time tax specialist for his new business located in province of Ontario, Keswick

BUSINESS FINANCE TAXATION BMT644 CASE ASSIGNMENT (JOHN MONALILO & RR BUSINESS)

You have just been hired by John Monalilo as a part time tax specialist for his new business located in province of Ontario, Keswick. In 2011, John graduated from McMaster University with a bachelor degree in mechanical engineering and immediately got a permanent full-time job with QR Ltd. Three years later, John started his own sole proprietorship “RR Business” along with his full-time job. RR Business designs and produces sports tools for competitive athletes. Over the past few years, it has built a strong reputation for itself by producing effective products. It is now February 15, 2018, and it’s your first day working for John. He calls you into his office to explain what he needs your….

how will tax affect the LTW? How about tax and inflation?

A factory has to install a smoke reduction system or pay a fine of $10,000 per month. The design of the system is outsourced to an A&E firm for $60,000 and takes six months to complete. The assembly, installation, and test are to be done on site. The cost of material is $100,000, the cost of labor is $60,000, and it takes eight months to bring the system to the operational level and avoid the penalty payment. The system needs an equivalent of one person at $25,000 per year to operate. The life of the system is five years, and the cost of removal and salvage value are the same. What is the LTW? The payments are made at the end of performance. Do not consider tax and….

Explain the tax implications of drawing your money out of a Traditional IRA before the age of 59.5

How can I use a realized investment loss to my advantage? Can I claim investment losses in retirement accounts?  How much can I deduct in a year? What is the rule of 72?  Do you feel this rule is reliable?

Question 1:  How do REITs compare to mutual funds?

Question 2:  List 3 advantages and disadvantages of owning rental property.

Question 3:  Define ROI.

Question 4:  What is the maximum IRA contribution for someone over age the age of 50 and under the age of 50.

Question 5:  Can you invest in a retirement plan through your employer and still invest in an IRA (Yes or No)?

Question 6:  Explain the tax implications of drawing your money out of a Traditional IRA before the age of 59.5 (assuming….

Do you feel eliminating income tax and applying a consumption tax will broaden the tax base? Why, or why not?

What is one thing that you have learned about public finance and budgeting that you want to make sure you carry forward into a career in public administration?

PA 5305, Public Finance and Budgeting 1

Course Learning Outcomes for Unit VIII Upon completion of this unit, students should be able to:

5. Evaluate a model budget. 5.1 Analyze trends in taxation and how they can affect public budgeting.

8. Apply practical methods to reconstructing finance and budgeting techniques.

8.1 Summarize financial policy trends toward new alternative taxes.

Reading Assignment Chapter 16: Taxes on Consumption and Sales Chapter 17: Taxes on Wealth, Property, and Estates

Unit Lesson Domestically and internationally, officials use various taxing regimens. In previous units, we discussed taxation and the impacts of multiple tax structures as….

High-fat Foods and Obesity

The link between the consumption of high-fat foods and obesity is well established. Mounting concern about the increasing incidence of obesity in many countries has sparked debate about the merit of an explicit ‘fat tax’, aimed at either taxing foods according to their fat content or, more practically, taxing certain foods with a high fat content. Your Task: Your essay requires you to discuss the likely economic consequences and effectiveness of a fat tax at reducing the consumption of high-fat foods. Some Hints: What is the economic rationale for introducing a so-called “fat tax”? What does economic teaching suggest are the likely chances of a “fat tax” being effective in reducing the consumption of high-fat foods? What may governments do with the revenue raised by this tax in….