Essays on Income Tax

Tax that should be paid of the employees is based on their income. In the United States, employees pay taxes through the progressive tax system. It means the higher the income, the higher the amount of tax that should be paid. Taxes are also commonly deducted from paycheck of the employees by the employers (Bernard, 2009). In some cases, employees view tax as a burden due to the high amounts of paper works. However, most of them do not consider lowering their tax burden. Annual tax bill could be legally reduced in several ways. In most cases, lowering the ...

Court allows Wife to consider inherited farm inputs as part of the expenditure of carrying out farming business even when the deceased husband had deducted the same expenditure. The court held that the petitioner could deduct the cost of all the farm inputs from the 2011 farm income. This is despite the husband tax returns indicating the same cost were deducted in calculating the tax payable in 2010. Thus, the court held that commissioner of internal revenue was wrong to disallow the petitioner from deducting the expense.

Facts

Steve Backemeyer used to carry out farming business while his wife Julie ...

Summary

The principal intention of the article is to find out the effect of state corporate income tax rate cuts on job creation. The author's conducted an experiment trying to establish whether decreasing the amounts of corporate tax helped to spur economic growth which in turn resulted in the creation of employment. The authors of the article analyzed jobs created in economies where the corporate tax was reduced and economies where the taxes remained the same. The main conclusion was that reducing the amount of corporate tax paid enabled firms to hire more workers, which in turn resulted in more ...

Now the most advanced integration Union is the European Union, the main forerunner of which European economic community was created in 1957 by the Task that stands today in the EU during the agenda - formation and strengthening of economic, monetary and political Union of member countries. Integration in the EU affects almost all aspects of relations between member States of the European Union - politics, Economics, social and cultural sphere. The relevance of the study due to the importance and special role of tax harmonization in the framework of deepening European economic integration, the development of the unified ...

Introduction

An organization is regarded as an entity that is made up of people with a collective objective and is connected to the external environment. Hence, a business organization is a group of people collaborating to achieve a commercial objective (Handy, 2005). Toyota Motor Corporation is a Japan based auto manufacturing company with its headquarters in Toyota, Aichi. The company was ranked as the 13th largest in the world in terms of their revenue. It was the largest automotive manufacturer in 2010 ahead of the Volkswagen group and the general motors in terms of their production. The Toyota motor company ...

Income Tax Accounting

Income Tax Accounting

According to IAS 12, deferred tax asset is used to describe an asset that will minimize the amount of tax that a firm wishes to pay in a future accounting period. In the future, it can be used as a write off element when the next tax period is projected to produce increased earnings. The IAS 12 offers that the difference in tax bases for an asset and deductible temporary difference is what creates a deferred tax asset. It implies that the future cash flows are significant. The taxes are usually plowed back into the business ...

Introduction

The United States is one of the most developed countries, but it is also one of the countries with the highest level of income inequality. According to research, more than half of the nation’s income goes to only 5% of the population, while the remaining half is shared by the 95%. One way of measuring a nation’s income inequality is through the Gini coefficient. The Gini coefficient measures income inequality on a scale of 0 to 1 wherein 0 corresponds to total equality; a scenario wherein everyone is earning the same amount while 1 corresponds to total ...

Short – Term Investing

Introduction A treasury bill or a T-Bill is a short-term maturing promissory note, usually lasting for three months to one year. Nyawata (2012) asserts that the federal or national governments are the ones that issue T-Bills as their primary instruments of regulating the supply of money within the national economy, as well as raising funds for various government projects through open market operations. The central banks of the respective countries are the ones responsible for issuing and paying on T-Bills. According to Thau (2000) T-bills do not have any form of explicit interest, but they sell at a discount ...

__ June 2015 (date)

The process of globalization makes many companies worldwide think about becoming international. There are many reasons for it, such as going to the international markets, increasing sales, reducing costs of manufacturing and research & development by means of outsourcing, engaging skills and talent from other countries, increasing company’s revenues, and etc. Lewis Globalworks Co., Inc. has been working in the market for many years and now would like to expand its activities to the other countries in order to optimize its operations and financial results. This research paper is focused on evaluation the possibilities and ...

The Real Economy in the Long-Run: Apple Inc., Case

Apple Company is one of the leading computer and electronic products company globally. These products are vital in determining Canada’s future living standards. These products are instrumental for future growth despite Canada’s resilience to the global financial crisis (Wessels, 2006). There are procedure and policies by the Canadian government that will boost productivity which is a measure of efficiency in producing goods and services using economic resources; this will enable the Apple products to sell and this include; Government taxation, corporate tax on the ICT products has changed for the better over the past years, becoming less ...

Business Law

Business Law The most important aspect when launching a new business is to determine the type of business structure to be able to make the business a successful venture in view of the legal and tax implications that are part of the selected business structure. The six types of business structure shared on U.S. Small Business Administration (2016) website are as follows:

The most basic form of business type and is owned by one person, form a legal standpoint the business has no separate legal identity and the owner can be sued in their own name and the owner ...

Introduction

Capital structure refers to a company’s alignment of the long-term and short-term debts, common equity and the preferred equity. The term also include the analysis of how the company decides on how to allocate the cash flow into various components including a portion that is allocated to meet the financing needs of the debt capital and the other portion that is allocated to the shareholders as part of the dividend. Capital structure is a subset of the financial structure. Financial structure refers to the relative proportion of the various sources of finances that are used in the business ...

INVESTMENT ANALYSIS OF VIETNAM

INVESTMENT ANALYSIS OF VIETNAM

Summary

Vietnam has changed in the last thirty years from an agrarian country to a service and manufacture country leader in the world in growth and economic activity. The country has a communist system legally but, in the practice, the country has a liberal policy in the economy signing the Trans-Pacific Free Trade Agreement but maintaining the political control under the rule of one party. The country offers opportunities and risks for individual and corporation with the intention to invest.

Introduction

Vietnam is known in the world as the country where United States of America lost a ...

Financing and Accounting Comparison

The way how a company spends their financial resources can spell the difference between failure and continuous operational expansion. This is why it is important to compare the financing and accounting methods of a startup firm to one that is already established and continuously earning like UPS.

Accounting Methods

A more sensible accounting method-related variable would be the use of resources or the cash flow statement. The cash flow statement shows how a company is making use of the financial resources that it obtains from its operations (if the company managed to earn a profit for that period), financing activities, and ...

Recent years have seen significant changes in the economies of both Mexico and Chile. Given this, it can be useful to examine the current economic situation in Mexico and Chile, comparing the two. While many people in the United States might tend to think of these two nations as being identical in nature because of the fact that they have Hispanic cultures and the Spanish language, there are in fact many differences. For example, Mexico since the late 1990s has been able to benefit from the existence of NAFTA (the North American Free Trade Agreement). This has allowed it ...

MEMORANDUM

Dear Sir, This memo is written to address the problems faced by the Big Corp. as a result of the bankruptcy of its subsidiary Sub Corp. the memo discuss the different statutory and regulatory matters applicable in this matter. It also recommends the solution on whether the dividends paid by the company should be treated as a return on capital or ordinary dividends. At first, it is important to understand the basic difference between preferred and ordinary stocks. Preferred shareholders have a preferred claim to the earnings and profits of the company. When the company has excessive cash and ...

Federal Taxation Paper Analysis

Section one – Summary of Article one: Taxation has been an important topic for researchers and policy makers as well and has been an important source of revenue for the government. In multiple courtiers, it has been a source of economic growth (Palomba, 2004). The aim of this assignment is to determine the two tax related articles and present the summary of those articles. This section presents the summary of the article “Effects of Income Tax Changes on Economic Growth” written by William H. Gale and Andrew A. Samwick in 2014. The paper analyzes the ways in which the imposition ...

Introductory Remarks

The USA has always prided itself on being a byword for the land of opportunities any person can enjoy. Such optimism may end where the issue of the minimum wage starts, as employees find themselves constrained by a salary ceiling. Forced into low-income groups of earners, there is nothing they can do except resort to aid or social programs to meet their individual or family needs. The situation round the use of aid has come to reach an alarming point judging by the scope of the issue. Employees representing fast food, home care, childcare, and part-time college faculty sectors ...

Under Armour

How have the norms and regulations of national government in its 'home' country shaped the way Under Armour has gone global? Under Armour had gone global with about 300 retail stores in 13 countries and aims to have more than 1,000 stores by 2018, with expansion plans in South American countries. There are certain norms and regulations of the US government that have helped shape the growth of Under Armour. Under Armour takes advantage of the norms and regulations of national government and works on its core values and adhere to these practices when doing business with suppliers. ...

Introduction

Shanghai and Hong Kong have become important in the global financial sector. Modern banking and finance started in HK and Shanghai in 1845 and 1847 respectively when the first British bank was opened, the Oriental Banking Corporation. The Hong Kong and Shanghai Banking Corporation, a multinational Holdings was founded in 1864 with its Head office in Hong Kong. Other foreign and local banks from Britain, Europe, America and Japan were subsequently opened. The modern Commercial Bank of China was formed in 1897 with its head office in Shanghai. The first stock exchange was established in Hong Kong in 1891 ...

Corse Lecturer

There are big changes that have occurred in the economy over the years. Some positive and others negative. A large number of people now are enlightened on issues related to the economy and are involved in investment. More businesses are growing and resources are continuing to be strained. Greed is common as many people aim to have a large pool of resources at their disposal to grow their businesses as well as finances. There are now many economic vices that are stunting the growth of the economy. This paper will look at some of the economic issues today and ...

There is a considerable and sizeable population of small business in the US economy. Statistically speaking there are over 28 million small business that occurs with small business specifically indicating businesses with fewer than 500 employees. Over 22, million individuals are self-employed without any additional payrolls or having employed other persons. Of the working population, a considerable percentage of over 50% that translates to 120 million individuals work in the small business (US statistics and data, 2016). Small business on average have modest turnovers that attract income taxes on the cash generated. Business entities are relevant in the generation ...

Founded in 2003 by Marc Tarpenning, Martin Eberhard, and Elon Musk, Tesla Motors Inc. is an automotive firm that develops Electric Vehicles (EVs). According to Holmberg (2008), as part of its global strategy for growth, Tesla sought three strategic alliances with other auto manufacturers namely: Supplier, Research and development (R&D), and Original Equipment Manufacturer (OEM) alliances. The alliance with Lotus, a United Kingdom company would guarantee the supply of unique chassis for the EV (Cheong, Song and Hu 1-10). Panasonic Company from Japan supplied battery cells whereas Borg Warner in the United States supplied single-speed gearbox. For research and ...

Homestead exemption meant that peoples’ homes would not be taxed at a full charge although some of their households could be tax-free. In Texas, the current family exemption is $15,000, meaning that if one’s home tax is valued at $100, 000, they would only pay taxes of $85,000 (Texansforprop1.com). Proposition 1 would extend that exemption, meaning that one would even pay less tax than their actual house value. Proposition 1 achieved four things. First, it ensured that property tax was decreased by increasing the homestead exemption from $15,000 to $25,000. Second, it ensured that ...

The value added tax (VAT) is consumption tax levied on goods and services in the country while revenue refers to taxes on income from labor or capital. Consumption taxes are not regressive and closely relates to sales tax despite the two being fundamentally different. The shift from income tax to a VAT would raise the nation’s savings. VAT tends to discourage consumption leading to more savings. Moreover, VAT does not decrease the returns to savings. It follows that it does not affect choices between future and current consumption by changing their relative prices (Congressional Budget Office, 1992 p. ...

Government budget provides the projections of revenues to be received and expenses to be incurred by the government in a given financial year. The main sources of government revenue are levies, taxes, returns of government projects and fines. In many cases, the government budget is at a deficit because the amount of expenditure to be incurred is more that revenue projected revenue. Thus, the government has an option of financing the deficit through borrowing or applying austerity measures to cut down its projected spending. The government can also apply austerity measures when debt level reaches unmanageable high level. Everyone ...

In the accounting practice, the recognition of a deferred tax asset or liability takes into account the forecasted future effects of the tax associated with the short period differences. Under the current accounting principles, there is the differentiation of the deferred tax assets and liabilities into current and non-current amounts in the classified statement of financial position. The difference is based on how the particular assets or liabilities are classified for purposes of financial reporting. For those assets and liabilities for which there is no close association, the deferred tax is based on the anticipated date of reversal of ...

Impact of Low Expenditure on Welfare Programs

Abstract The level of expenditure in a particular economy directly affects the provision of welfare programs in that particular country. This paper particularly investigates the impact of a low expenditure on welfare programs in the United States of America. The paper explains in detail both the negative and positive implications of low expenditure in the United States. Specifically, the paper looks into how low expenditure reduces the morale to work and the negative implication of this on income levels. Moreover, the paper shows how low expenditure makes the redistribution role of the government to collapse thereby leading to income ...

Consumption tax refers to levies on goods and services while income tax refers it the income based on income from capital or labor. The consumption tax closely relates to sales tax only that it is not regressive. The shift from income tax to the consumption tax would have various effects on nation's savings. Since consumption tax is not punitive to the citizens, it tends to encourage spending. As a result, the country would have an increase in the total savings. However, one needs to note that the individual savings are not per se free taxes. Fundamentally, when investors save ...

Introduction

Governments and nonprofit organizations just like the commercial entities must prepare financial statements, but unlike the commercial entities whose accounting is for measuring profitability, the governments’ and nonprofit organizations’ accounting is for accountability (City of Cambridge Participatory Budgeting, 2016). The nonprofit and government agencies apply an accounting system known as fund accounting, where a fund is made up of several accounts each set apart for a particular purpose in agreement with law and regulations. Unlike the commercial entities which only have a single account called the general ledger for determination of profits, nonprofit and government agencies can have several ...

Since the dawn of industrialization, reducing the poverty levels has been a common challenge across nations. Poverty is the unrelenting duty of trying to survive. It is the regular hustle to make ends meet. Some of the few things that can define poverty involves lack of the basic needs such as food, clothing, shelter, security and education, which are vital to human life Poverty, is a worldwide concern, which has affected not only developing countries but also industrialized ones. For instance, the United States being one of the prosperous countries in the world has one of the uppermost levels ...

Identify different users of accounting information and discuss the varying information needs of these users.

Users of accounting information are both - internal & external to the company in question. Internal users are the primary users of accounting information. They are company managers, employees and proprietors. Managers make use of the accounting information for analysis purpose regarding the company’s output and ranking so that suitable measures could be taken for bettering company performance. Next-in-line internal stakeholders are company employees. Their information needs are different from that of company managers. They use company information for measuring the earnings made by the company and deriving results thereof for relating with their future income and job safety; ...

Activity 1: Appendix D; Financial Activity Tasks

A: Asset Register B: Transaction Allocation and Coding C: Identification of receipts and payments Coding: R = Revenue, P = Payment, CR = Cash Receipt

D: Allowances and deductions

E: Other statutory reports for a partnership Annual income tax The annual income tax does not take into account the cost of personal expenses invested in the business partnership and do not also account the marginal costs. The production costs undergone by the partnership are not reflected in the report. There should be a partnership act to reflect on the mode of cost sharing and profit or revenue management in the business development in the annual reports ...

Q1 (a) Cash Flow Statement for the period 1 Jan 2015 to 31 December 2015

The missing/modified figures (as shown in yellow in the cash flow statement) are calculated as follows: Employment income, Keaton, Given, Gross Salary and Bonus= $120,000.00

Alyssa,

Given total salary and bonus=$64,800

Half paid in Aus and half in Singapore,

Thus her Salary and bonus paid in Singapore=$32,400

Employer’s CPF contribution,

Keaton- 37 % of 120,000=$44400 Alyssa- 20% of $32,400=$6480

Dividend and rental income

Dividend – Keaton-No dividend in 2015 Alyssa, $689 in 2015 Rental income Keaton and Alyssa combined rental income for property in Singapore registered under joint tenancy agreement is $3,050 per month or $36600 for the year.

The portion of CPF and cash used for the housing installment is as mentioned below.

Total housing installment =$4099

Keaton:

Total monthly income=$10, ...

Short Essay 1

The Federal government could not have their taxes collected, unlike the individual states. This then led to high taxes being charged due to the existence of the state income tax only. The taxes being collected were at a high rate. Under the Virginia Plan, the local or states were the strongest as compared to the Federal. It was proposed by a representative from Virginia and would have three separate branches of the Federal government that were the legislative, executive and judiciary. The branches were then broken and each given their duty to carry out. There were different styles of ...

The economies of Canada and the USA are the most developed ones in the whole American continent. The two nations have very intensive economic ties. Furthermore, the whole scope of relations between Canada and the USA is at such intensive level that these two countries will inevitably cooperate, and to understand the possible ways of the development of their economies we should figure out their current situation in financial sector. Canada is a developed market economy with less government regulation than in Europe, but slightly higher than in the United States. Canada is a member of the Organization for ...

The idea of free education is quickly becoming a controversial and much debated political topic throughout the world. Social media and the internet have provided people with a platform in which to express their opinions about whether or not education should be free for all without compromising quality. This topic originally interested me because I come from a country where education is free and where everyone has the opportunity to go to college or university regardless of economic status. In fact, I am in the United States right now because the government of Saudi Arabia has a multi-million dollar ...

Foreign Direct Investment

Foreign direct investment in Senegal has to meet a certain condition of investing at least 5 million dollars and it has to employ at least three Senegalese and keep the accounts in a Senegalese format. FDI data on Senegal’s balance-of-payments statistics is provided by the International Monetary Fund (UNICTAD, 2006). The Senegalese investment code makes it possible to have equitable treatment of foreign companies and gives incentives encouraging companies to be located outside Dakar. The investment code also includes tax-free export processing zone, tax holidays, and stops foreign investment from the business licence and personal income tax. The ...

Economics

Introduction Understanding the drivers of the amount that is paid by companies in the form of corporate income tax has transformed into an interesting and highly debated topic in the recent past; more so, with the various policies that are being adapted by the governments for stimulating growth, while also factoring in the imminent need for increase revenue in order to fund the various developmental programs while also to successfully repair the public finances, considering the global economic recession. It is of crucial important to study and construe the impact that tax policies have upon government revenues, upon which ...

The position of “Tax Accountant” is a new job in the organization. It was created when the company expanded and the workload increased tremendously. The position will be filled externally. Advertisement for the position will be made and any interested and qualified external candidate is free to apply. Before coming up with the position title, job analysis was carried out to identify the needs of the job. The position was new and an extensive job analysis had to be carried out. It involved several steps. The first step was identification of the purpose of the job analysis. This was ...

M 3/7 Topic: What kind of cultures were at war during 1920s? During 1920s two types of American cultures were at war: urban culture and rural culture. New urban culture was centered in cities and had such features as religious and ethnic pluralism due to immigration, new forms of mass entertainment (radio and motion pictures), liberated sexual rules. Rural culture concentrated in rural areas of America considered new urban culture not as an expansion of freedom, but as a threat to traditional values, religion and understanding of American freedom. An example of cultural wars was the Scopes trial (teacher ...

There are 3 types of tax credits that are created for low-income homeowners: Mortgage Interest Credit, Resident Efficiency Property Credit, and Low-Income Housing Credits.

Mortgage Interest Credit

The buyer of a new home whose income is below the middle income is eligible for mortgage interest tax credit. The credit is oriented to help the individuals with lower income to afford their own home. A tax credit is allowed for every single year for 40% of the home mortgage interest that is paid by the homeowner. If the mortgage loan is equal or smaller than the amount that is shown on the MCC, ...

“In this world, nothing can be said to be certain, except death and taxes." – Benjamin Franklin

Benjamin Franklin was correct saying that, but while the taxes were certain it could not be said the same about their consistency. For a long period after its establishment, America was a tax-free country that meant it was free from direct taxes as the income tax. After the revolutionary war the new established government as more cautious about the taxes. While the direct taxation was prohibited by the Constitution, the government had to collect its revenues through tariffs and other duties on certain items. As late as 1913 the Sixteenth amendment to the Unites States Constitution was adopted and ...

Introduction

Marijuana is a significant topic throughout the United States. It can be considered one of the hottest topics regarding the general public and the Legislature. There is a growing reform when it comes to legalizing marijuana. Today, more than half of the country is in favor to legalizing the use of marijuana. The Drug Policy Alliance believes that marijuana should be treated and regulated like alcohol and tobacco and that it should be completely removed from the criminal justice system. Over the past two years, several states have legalized the recreational use of marijuana. This paper analyzes the arguments ...

Analysis of the Kasich Tax Reform Plan

ANALYSIS OF THE KASICH TAX REFORM PLAN 2 Summary of Governor John Kasich´s Tax Reform Plan

this in part by eliminating most tax deductions other than the mortgage interest deduction and the charitable contribution deduction. It also does this by reducing the number of personal income tax brackets from seven down to three. It also reduces marginal tax rates across the board. Kasich´s tax reform plan would reduce the top individual income tax rate gains and dividends from 23.8 percent to 15 percent, and completely eliminate the estate tax (which is currently at 40 percent). It would ...

Individual Tax Case Study

Facts Age: 60 Marital status: Single Bob recently retired from IBM and has $690,000 available from his 401(k) fund. He plans on using the money to open a used car business. The business will be located at 210 Ocean View Drive in Pensacola, Florida. The estimated taxable income from the business might be $300,000. Bob’s individual wealth including investments in stocks, bonds, and land is approximately $14,000,000. Last year, Bob reported a dividend income of $6,000 and an interest income of $20,000. The $14,000,000 comprises of land worth $9, ...

Value-Added Tax

Explain the concept of value-added tax (“VAT”) A value-added tax (“VAT”) or goods and services tax (“GST”) is an indirect form of taxation targeted at consumption – measured by spending on goods and services. “Value added” denotes that the payable tax equals the difference between the sale price a firm charges the buyer of a good or service, and the costs of materials and other taxable inputs. As an illustrative example, in the European Union, where much of the taxation is based on VAT principles, each time a consumer good is manufactured, the manufacturer must pay a value-added tax on ...

Florida

The Florida Legislature is seated in the Florida State Capital in Tallahassee. The Florida Legislature is composed of 160 state legislators. The state’s legislature is responsible for creating and amending laws within the state of Florida. In order to do this, legislators are responsible for proposing legislation in the form of a bill. If successful, the legislation goes through a review, readings, and requires a majority vote. Then, the bill is either signed into law by the state’s governor or the bill is vetoed. The state’s legislature also has the ability to propose amendments within the ...

Introduction

The taxation system is the largest contributor when it comes to government revenue. There are five basic principles when it comes to the idea of taxation. These principles are: 1) to raise revenue, 2) reprice certain goods and services (tobacco, alcohol, etc.) to meet social objective, 3) income and wealth redistribution, 4) raise representation within the democratic process, and 5) to reorganize the economy (Murphy, 2009, p. 211). It is a firm argument that all of these principles must be in place in order for the concept of taxation to work.

The meaning and importance of equity (fairness) in UK taxation

In 1776, Adam Smith introduced the principles of ...

At present, the number one criminal activity of gangs include drug-trafficking of cocaine and marijuana since it an easy money-making scheme. For the past decades, the legalization of marijuana has been the subject of an enduring debate due to its long term effects in society. However, the lawmakers must consider not only the medicinal benefits of cannabis derivatives, but also its economic prospective and how it can affect the law enforcement agencies. Cannabis should be legalized nationwide to give the public the option to take a holistic approach to the illness instead of using addictive prescription drugs, will generate ...

OUTLINE Introduction..3 Thesis...3

Discussions3

Conclusion..11

Reference list .13

Introduction Cooperative society is an association of legal and natural persons formed with the aim of providing services to its members and community. The provision of services is meant to improve the effectiveness of commercial activities of members who formed it. Members who formed it own cooperative societies. Just like any other form of business units, cooperative societies are subjected to taxation, deductions and certain exempts. Most cooperatives are formed under existing laws governing cooperative societies and state laws at the time of formation. The main aim of a cooperative society is to increase the ...

[Your Name Appears here] [Your section appears here] [Professor’s name appears here] [Date Appears here]

Investing in Qatar stock exchange (QE) demands a high quality of knowledge and resources; these can be acquired by taking a proper insight of the foundations. There are around 43 companies in Qatar exchange1. If a person wants to invest on QE then he has two ways either he choose the conventional way and go down to the bottom of exchange and give his order to broker, or he can simple use the modern method by calling broker. There are stockbrokers who act ...

1. The Georgia Open Records Act also known as the Georgia Sunshine Law is the statute of the State of Georgia which gives a definition of what is considered to be a public record and which should be made available to the public upon request. The statute defines public records to be documents that are generated by individuals or groups in public office in the course of public service. Public records also constitute items that are received and maintained by a private person or any other legal entity on behalf of a public office or agency.

2. The pre-World War I opinion by ...

Introduction

Many nations use income taxation to raise domestic revenue. The income taxation rates vary from country to country. Australia is one among the countries with highest taxation rate. Australia uses a system of progressive income taxation in raising her domestic income. In this system, the tax paid is proportional to the income earned. High income earners pay more tax than low-income earners. The bone of contention in this system is that all people are not taxed at equal rates. Low income earners are usually taxed at a percentage lower than 15%, while those with very high income are taxed at a rate ...

The article highlights the change in tax rates in the recently announced UK budget. The Conservative Party, since 2010, had focused on debt reduction during budget planning. This had led to adverse impacts on the country’s growth. As a changed strategy, the new budget aims at boosting the nation’s economic growth. To achieve this objective, the government has lowered taxes for the people in topmost income-tax bracket and also on businesses. Personal-income tax rate, for incomes over £150,000, have been reduced from 50% to 45 % for April 2013. This, however, entailed a political risk of being marked as a ...

Introduction

A tax is a financial charge levied upon individuals and entities’ incomes by the state. Taxes are mandatory in every economy for governments to be able to finance basic provisions such as for their citizens. These are security, employment, health care, infrastructure such as roads, and other socio-economic programs just to mention a few. Though taxes are unpopular with the masses, the idea of raising taxes on corporations has both advantages and its disadvantages. With the current fiscal cliff challenge brought about by the expiry of the Bush Tax Cut facing the U.S. economy, democrats argue that tax increments are necessary ...

IMMIGRATION – WHAT IS TO BE DONE

Introduction

Illegal immigration is defined as an act of crossing the country’s border by foreign nationalists without the permission or any official documentation presented by the government to migrate into their country. Illegal immigration is a direct violation of the law of United States of America that is majorly affected by this issue (Bryan and Nancy, p.2). As of 2012, the illegal population in the country is estimated to be around 11.4 million people that is approximately 3.5% of entire U.S. population. Around 59% of these illegal immigrants ...

Introduction

The report includes a speculative summary which is highly rendered by the project submitter. The report includes the rules and exemption to work with an accommodated job in United Kingdom. The summary and the report includes the rules and regulations which are necessary as per working in the UK company, and it also discuss about the Tax redemption charges as per the incomes basis of an individual. The report even includes the taxation of any employee working in a UK based company. The rules and regulations are also jotted down to make the project analyst know about the main factual finding ...

Questions

1. Do you believe the labels that they were not acting in their own self-interest?

I do not believe that the labels were not acting in their own self-interest. By setting a price floor for their CDs (minimum advertised pricing) they were effectively able to control the revenue they would get. This ‘minimum price’ was set high and this led to higher profit margins at the expense of the consumers.2. Is this a price-fixing scheme or a pure case of altruism?

This was a case of price-fixing. By getting retailers to sell their CDs at an agreed price, the music labels were ...

<Name of the Student> <Name of University/ Organization and Section number of Course> <Instructor’s Name>

Introduction

The purpose and scope of this paper is to evaluate the leadership potentials that assisted Barack Obama to become president of United States in the year 2008. During, American antiquity there has been many significant leaders who have carried impartiality, self-determination, and transformation to its country. Several great leaders and lastly the head of the state of the USA Barack Obama, there have been many countless individuals who have completed history. As the first Black culture to turn ...