Taxation in the United States

The common denominator present in all three of these music streaming services is that all basic features offered are essentially free to music users under certain conditions. The question of artist/songwriter revenue streams has become a pressing issue since music is so easily accessible free of charge via these services. Before going into payment methods the difference between a mechanical royalty and a performance royalty must be defined. A performance royalty is a fee a music user pays when a…

Please see a number of points I would like you to take into consideration when reviewing my unclaimed shift allowance, as detailed above. I accept full responsibility for not processing this allowance at the time however, I would like to provide you with some background information prior to when I returned to collections as a CAD in January 2013. · I had not previously claimed shift allowance since 2010, as a call taking associate working part time I did not fit the criteria to claim.…

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 consider the entity as taxable persons. The corporations will pay federal, state, and local tax based on the net income. Then, when the shareholders get their dividends from the corporate profit, the shareholder’s dividends will be taxed again.…

Now that the critical first step to creating a successful nonprofit organization is done, one can now incorporate their nonprofit. Incorporating a business means to constitute a company or organization as a legal corporation. A corporation is a legal entity that is legally a person who is separated from its owners (Investopedia.com). To incorporate a nonprofit organization is as easy as going online or calling by phone. A common website used to incorporate an organization is through,…

deductions for mortgage interest. (http://www.alllaw.com/articles/tax/article3.asp) 2-B: b. Can John and Jane Smith utilize a 1031 tax exchange to buy a more expensive house using additional money from John’s case? The 1031 tax exchange states that “No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in…

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…

structure for a thriving business, doing so could save you hundreds, thousands or millions of dollars depending on your business size and the tax and liability advantages that changing your business structure could generate. Business structure affects taxation, personal liability and your ability to shelter income and provide benefits to family members while receiving tax deductions for the privilege. A professional tax advisor can guide you on issues that range from personal liability to…

Reg. §1.162-5 clarifies the Code section for the purpose of expenses for education. Treas. Reg. §1.162-5(a) describes the two situations in which education expenses are allowed to be miscellaneous itemized deductions. 1. Treas. Reg. §1.162-5(a)(1) states that expenditures made by a taxpayer individual for education are deductible as ordinary and necessary expenses if the education maintains or improves skills required by the taxpayer in…

“The U.S. corporate tax rate (35%) is the highest rate amongst the developed nations” (Dubay, 2015). Meaning, that U.S. companies pay a lot more in taxes than foreign companies do. Therefore, if Congress eliminated corporate taxes, Amazon would report a higher income since their earnings will no longer be taxed. This higher income would allow Amazon to partake in more investments such as the purchases of plant assets that they can use to earn additional revenue. Since Amazon would be doing well…

lab fees (required for physics class) o $1,000 required books and supplies o $4,800 room and board • Sabrina asked me, an FIU graduate and Certified Public Accountant of the state of Florida to advise her regarding the tax consequences of the scholarship. Issue and Conclusion 1 Is Sabrina a resident/citizen of the United States or is she from a foreign country? Since no information stating otherwise, it is assumed that Sabrina is a US resident/citizen. Analysis 1 The treatment of the…