Low-Income Housing Tax Credit

The United States has a “high tax rate on foreign earned income” compared to other countries (Yang & Lauricella, 2015, p. 214). This leads corporations to the concept of corporate inversion, where they “avoid [the] tax rate by causing foreign corporations owned by U.S. shareholders to earn income through a chain of corporations that does not include a U.S. corporation” (Yang & Lauricella, 2015, p. 214). In other words, a corporation is reducing their U.S. tax liability by going through a…

1. the Hong Kong profits tax implications to STPL in respect of its arrangement with STPCL (15 marks) • Section 14(1) of Inland Revenue Ordinance (IRO) imposes three conditions for profits to be chargeable to Hong Kong profits tax.…

The flat tax, progressive tax and value added tax are three very different and unique tax systems. All three tax systems have similarities and differences. By comparing these three tax systems we can understand their advantages and disadvantages and see which one is the best for the United States. Currently, the United States uses an income tax called the progressive-rate tax system. This tax rate system is very complex and requires taxpayers to complete multiple forms, compute deductions, and…

the family, and the income of the family. Some of the wealthiest people can qualify for aid, because all the money is invested and not making a profitable income for the family. It is important to mention that the student’s income can have a powerful and sometimes negative affect on the families over all reported income on the application. Part of the student’s income is taken off, but the majority of it is reported and figured in with the total income of the family. (Income and Financial Aid…

A Generation Skipping Trust (GST), also known as a dynasty trust, allows the grantor to transfer a significant amount of assets to beneficiaries, in skipping a generation, are typically their grandchildren who receive the benefit of the “gift” as tax-free. In acquiring a dynasty trust, it is mainly to aid in the future generations besides one’s direct descendents. As this type of trust “does not have a defined termination date or event”, it has the ability to pass down through many generations.…

Biblical Integration To close out this study, charge should be given to believers to thoroughly contemplate not only the ethical questions raised against these two tax systems, but also the biblical orientation regarding the following: the biblical view of wealth redistribution; the biblical mandate to pay taxes; the biblical view of freely giving and having the correct heart; and the biblical view of tithe. Professor Susan Pace Hamill of the Univ. of Alabama, during an interview with PBS,…

Most of us dread doing our taxes, whether for our personal finances, our business, or the few dollars our child made flipping hamburgers last summer. Although filing a tax return is generally a once-a-year event, the activities that result in the final amounts reported occur all year long. That’s why the professionals at CK & Co offer year round service and planning. Why Choose a Certified Public Accountant CPAs devote years of study obtaining their degrees in subjects such as business…

Is there the same burden for people on minimum wage, big cooperation and the upper class when paying taxes? According to Wikipedia “Progressive tax is a tax in which the tax rate increases as the taxable income amount increases.” It was a contentious issue for individuals as it is based on how they define equality. “Progressive tax was introduced and implemented in 1978 in Britain by Prime Minister William Pitt. It was now used in some countries to ensure that every one gets social benefits and…

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…

“Think strategically about your future working life”. That is Behren’s and Rosen summation of a few highly respected economist and analyst advise about the offshoring and globalization of the American jobs that has decimated the middle working class of this country. Well and good and worth considering if one is in high school or about to decide what major to embark on. However, for those who have already lost their jobs, homes and families due to offshoring or about to lose their job, wait a…