Corporate tax

Introduction- I am a health and safety officer in J&S Feeds Ltd. I am expected to advise Cathal on what he must do in order to seek compensation and indicate what his expectations may be after the loss of his index and forefinger at work. I must explore the possible issues that might arise in Cathals potential claim. I would advise Cathal to make a claim through the injuries board website which is injuriesboard.ie. You will not need to use the services of a solicitor which means that you will…

Essay Question 1— Sarah and John have filed timely tax returns for the tax years 2010-2015 as married filing jointly. In November 2016, Sarah has engaged me for some tax advice. She tells me that in January 2014, she discovered that her husband was running an illegal side business and that he has intentionally not reported the extra income on any of his tax returns. She is scared because they have received a notice that the IRS will audit their 2015 return. She wants to know how far they can…

1. Case study: Tax Avoidance and Tax Evasion As stated in the text, the biggest challenge the tax administration has is cheating (Rosen & Gayer, 2014). There is difference between tax avoidance, which is legal and a good business practice, and tax evasion, which is failing to pay due taxes (Rosen & Gayer, 2014). The public finance principle of tax avoidance is efficient. In the case reviewed, it is suggested that having a fiscal year end on December 31st drives companies to be more aggressive…

2. LONG v. COMMISSIONER, 77 TC 1045, Code Sec(s) 1031. - This case deals with a similar issue as that addressed in the Gulfstream Case, however it also looks at the tax implications of an exchange in which liabilities are also being exchanged. The courts ruled that the transfer, in general, could qualify for Section 1031 deferment. This was based on the conclusion that the definition of a partnership included joint ventures (which was involved in the exchange), however because unequal amounts of…

it does not know how much money taxpayers own in the Tax Havens. But, no country in this world can force other countries to change their regulations and laws, so the U.S. cannot ask another countries to change their laws to satisfy the U.S.. The effective way to limit the harmful effects is to ask other countries to share the information with the U.S. In May 2009; OECD removed Andorra, Liechtenstein and Monaco from the list of Uncooperative Tax Havens when these jurisdictions agreed to follow…

Unit 7 Discussion Sometimes companies move their corporate headquarters out of their home countries to countries with more favorable tax treatment. Which duty do you believe is higher, the duty of corporations to pay tax to government or the duty of corporations to pay dividends to shareholders? I believe that corporations have the duty to pay dividends to the shareholders. Corporations incur in double taxation; therefore, the government will tax the corporations since the taxing authorities…

bipartisanship, President Ronald Reagan and the Democratic Congress worked together in 1986 and reformed America’s tax code. The result of that effort led to America’s corporate income tax rate being slashed from fifty percent to thirty-five percent. Since then, attempts to continue lowering America’s corporate income tax rate have failed, leaving America with the fourth highest corporate income tax in the world. Recently, I introduced a bill in the House of Representatives, H.R. 2 Raising…

are collected from both individuals and their employers based on overall payroll and are of a much lower overall percentage are used in large part to fund social benefit programs such as Medicare, Welfare, and Social Security(Bianco,2013.). Corporate income tax, which was once the largest form of federal revenue and is now the third and consists of taxes collected on the income of corporations with the country(Investopedia,2014.). And lastly, Federal Excise Taxes which are unique sales taxes…

Trump’s tax policies will become an instant success. According to the grand majority of polls, the most important issue the American people care about is the economy. Donald Trump’s proposed policies concerning the economy are superb, which he will cut the corporate tax rate down from 35% to 15%. Trump’s corporate tax rate reduction, “Trump wants to cut the corporate income tax rate by more than half, to 15%, and make that available to the half of all US businesses that are not in corporate…

something, and tax is known as the amount charged for the support of the government. A Tax Inversion is an option or tool that allows a company financially to lower its tax liabilities by obtaining a legal foreign address. One of the highest corporate income tax rate is represented by the United States system. Many companies seek for effective ways to decrease their tax bills without break U.S laws. Obtaining a new legal address abroad, it is a current and favored strategy to lower corporate…