Earned Income Tax Credit

The world would be unfair if corporations were treated as people. Corporations already have the 14th amendment which already gives them the rights to be a person. The rights that they already have are ok, but they shouldn’t be granted anymore rights. If corporations were treated as people, they would take advantage of many of the rights that people have. Corporations shouldn’t be treated as people because people may start claiming the rights that corporations have, corporations wouldn’t get…

Freedom is the basis of this country. It’s why people sacrifice and sacrificed their lives. Freedom, to me, means sacrifice and choice. Without freedom, our country wouldn’t be as superior and immense as it is today. Freedom means sacrifice. One prominent example of this is the military. The military helps to protect and secure the freedom of the citizens of the U.S. They are the underdogs of our country, giving their lives up for people who may not even notice or recognize their dedication to…

4.0 Tax Preference Theory Tax preference theory and bird in hand theory are two main different theories with exactly different view on shareholder preference. According to Ehrhardt and Brigham(2008) tax reference theory states that shareholders prefer retain earning rather than pay as dividends. It is because taxes on dividends must be paid immediately once you received the dividends and most of the countries dividends tax rate higher than capital gain tax. However, taxes of capital gain can be…

considered a like exchange. Purchasing another indoor soccer arena qualifies as a like replacement according to the criteria set in Section 1031. However, purchasing stock of SoccerMagic Inc. does not qualify for exception of tax deferment under 1031. However, according to tax ruling DeCleene v. Commissioner, purchasing all outstanding stock-100 percent stake- in a holding company for the property does give the owner control over the property, which would make the purchase qualify as a like…

etc) the tax payer needs a receipt. For any non-cash contribution over $500 the individual must also file a form 8283. Any type of service such as volunteering is not deductible however the gas getting to and from the location is deductible. For non-cash contributions of expensive items proper and detailed documentation is needed. The tax payer needs to be able to prove it. However regardless of how much is donated a taxpayer cannot take more than 50% of his or her adjusted gross income.…

A flat-tax system and the progressive tax system Abstract: flat-tax system has many supports all the time, they believe this system is easy to understand and is fairer to taxpayers. This paper starts with explaining the flat-tax system, then moves to the pros and cons within the flat-tax system. Then I use a model to explain the difference between flat tax and progressive tax, and concludes which tax system is better. 1. What is flat-tax system Due to federal income tax’s lack of efficiency,…

is also a quite reliable source. Tim Worstall essentially intends to express that Apple isn’t going to transfer back their manufacturing jobs because of the high corporate tax in the US and the high costs of labor. Tim Worstall is a British-born writer who writes on environmentalism and economics, specifically the corporate tax, his contributions have appeared in a lot of important publications. The article was published on September 25th, 2013, which is relatively recent, so we could assume…

government asks an individual to pay tax they are fined if they don’t. When the government asks a large multinational company to pay tax a political party gets a donation, and no tax gets paid. The Australian government has regardless of which political party, over many years shown that its preference is to allow large multinational companies including Google, Apple and Amazon to avoid their tax obligations while doing very little to help those in need with any form of tax relief. In 2013-14…

Lowering the Voting Age Does the legal age for voting at 18 really matter? This has been an ongoing topic for a long time but especially during these last few years. Politicians go back and forth trying to figure out what is best for the United States of America. Although many argue the topic there is many reasons why sixteen year olds should be allowed vote. In our country today, the government is letting teens drive and that is basically a pathway to death for them and everybody else on the…

There is not a consensus agreement on a fair tax code that would impact everyone equally. Politicians use the tax code as a weapon to garner votes by punishing a small minority to the delight of the majority. Tax breaks are given to certain businesses for political support and campaign contributions. Against this backdrop it is understandable that the American public is disillusioned with the tax code, and politicians’ in-general. The complexity of the tax code assures that a segment of the…