...Assignment 1: Foreign Source Income Rules (Client Letter) Ditanyan Patterson Beth Hewitt Strayer University ACC.568 April 16, 2016 Abstract I’m a CPA whom in which is working as a tax professional engaged to provide tax advice to my client with operations in the United States and internationally. My client has specifically requested information on strategies that she can use to minimize tax effects of foreign sourced income. First and foremost I must explain to my client the meaning of foreign sourced income. Foreign sourced income is, "...income earned from investments made outside of the domiciled country of the investing entity such as mutual fund and that is typically taxed at the foreign source." (Hanlon, Seth. 2012) Within the U.S., foreign sourced income is taxable to recipients although a foreign tax credit may be available for eligible taxpayers. Generally, it’s true that foreign income is taxed less heavily than U.S. income, both foreign and U.S. taxes on foreign sources income are likely to increase in the future. The increase will gradually take place, however, while being effective rates of taxation will continue to rise, leading to multinational companies to find new ways to take advantage of existing tax havens. Create a letter to communicate to your client Dear Client, To my understanding you're in the need of a professional opinion on tax advice with operations in the United States and internationally. Due to you...
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...Suwyn, Siska & King Attorneys at Law 65-21 Main Street Flushing, New York 11367 (718) 340-4200 October 23, 2006 Willi Loman Loman's Fashions 885 Seventh Avenue New York, New York 10017 Dear Ms. Loman: I hope you've been well. Recently you wrote to us that Loman's Fashions had been sued by a shopper in Small Claims Court for a breach of contract. As you've described it, the shopper claims that she responded to an ad for a "manufacturer's closeout" of designer leather coats; the ad stated that the "early" shopper would "catch the savings." The shopper complains that Loman's failed to have the merchandise to sell at the advertised price. Specifically, you have asked for advice on the question whether Loman's breached a contract with the shopper under the circumstances. After researching the issue, and based on the facts set out below, I believe that a court would likely conclude that Loman's did not enter into a contract with this shopper because the advertisement was not an offer to sell the coats; thus, there was no contract that Loman's could breach. I will explain this conclusion more fully below after first setting out the facts as I understand them. 1 Loman's Fashions, a retailer of women's and men's outerwear, distributed a circular last July advertising a manufacturer's closeout of designer women's leather coats for $59.99, coats that regularly sold for $300.00. The ad announced that the store would open at 7 a.m. on Friday, July 21, and stated that the "early...
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...E Summit Street Kent, Ohio 44240 February 1, 2007 Ms. Alex Sharpe Rhodes Rd Columbus, Ohio 43201 Dear Ms. Shape: I’m writing to give you some recommendations on your investment strategy on behalf of the College of Business Administration of Kent State University. From the information that you provided to us, I found that you want to pursue a more active investment strategy by adding stocks to your current equity portfolio in the Vanguard 500 Index Fund. And you are interested in the Hasbro and Reynolds. So I have done some analysis on the possible combination of these stocks. First, I did a summary statistics of the three assets base on the latest five years’ worth of monthly returns for Vanguard S&P 500 Index Fund, R.J. Reynolds and Hasbro. Among those return data, the Vanguard has a maximum return of 34.46% and a minimum return of -10.14. The Reynolds has a maximum return of 112.49 and a minimum return of -31.48. The Hasbro has a maximum return of 71.03 and a minimum return of -15.36. The result turns out that the Reynolds has the highest average return as 1.87% with a highest stand-alone risk measured by the standard deviation which is 8.116, while the Vanguard has the lowest average return as 0.57% with a lowest standard deviation 3.602 which means the lowest stand-alone risk. The sum of the five years’ returns for Vanguard is 34.46%, 112.49% for Reynolds, and 71.03% for Hasbro. So we can see that Reynolds has higher return together with a higher...
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...Running Head: Letter to a Client Letter to a Client: The Initial Process of a Lawsuit Kaplan University PA106: Legal Terminology and Transcription Prof: Elaine Deering May 21, 2013 5/21/2013 Ms. Ima Smart. Smart & Lee PPC 1212 Third Ave, Suite 300 Bellevue, Florida 25515 Jim Knott Easy Construction 305 Hanford Ave Richland, Florida 25518 Dear Mr. Knott: I am writing this letter to assist you in understanding the initial process of your lawsuit up to the filing of the complaint with the court. Your lawsuit will be governed by the Florida Rules of Civil Procedure. The following information is the process that will be followed during our preparation for your case. Once all relevant information concerning the circumstances surrounding your case, the next step will be performing legal research. My paralegal, name , “will be spending a considerable time researching, preparing documents, interviewing clients, and consulting with the attorney on civil litigations matters” (Cheeseman & Goldman, 2008). A litigation file will be created to put all relevant the documents and recording regarding your case. With everything about your case in a litigation file will help all parties involved in your case easy access to all the information about...
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...Business communication Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence.Business letters are formal letters used for business-to-business, business-to-client, or client-to-business correspondence...
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...ST GEORGE TAX ADVISORS GPO Box 9966 BRISBANE QLD 4001 Tel: (07) 3111 0011 Fax: (07) 3151 0012 Email: queries@stgeorgetax.com.au ABN 60-222-555-333 16 January 2009 Ms Shona Bridget 72 Shepperton Rd EAST VICTORIA QLD 4683 Dear Ms Bridget, Re: Your objections to the Notice of Amended Assessment 1. YOUR INSTRUCTIONS Following an audit by the Australian Taxation Office (ATO) of your tax return for the 2007 income year, you received a Notice of Amended Assessment dated 26 March 2008. As a result of this Assessment, three increases totalling $9,400 were made to your assessable income, and four decreases totalling $16,300 were made to your allowable deductions. You have approached us to assist you in explaining the objections to assessments process, prepare relevant objections to the Assessment, and explain the applicability of the General Interest Charge included. 2. THE OBJECTIONS PROCESS The Taxation Administration Act 1953 (Cth) governs the process for objecting to Amended Assessments prepared by the ATO. The Assessment is a definitive judgment of your taxable income, and you will be liable for the included amounts unless an objection is lodged. We have completed a comprehensive objection form on your behalf, which we will deliver to the Federal Commissioner of Taxation for evaluation. This is the key document in the objections process as it explains assessments we deem to be incorrect and provides detailed...
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...Dear Ms. Bernier, It seems you may be in luck! With your current computers, you are capable of running any 32 bit Windows 7 Operating System. I would personally recommend you look into acquiring copies of Windows 7 Enterprise from Microsoft themselves. Enterprise would really help with your business, as it supports multilingual language packs, as well as giving you access to the Bitlocker Drive Encryption application. With this, you can ensure your sensitive files are safe on your own servers. However, Enterprise is only available through Microsoft themselves, so if that is not an option then my next recommendation would be to try out Windows 7 Professional. It has most of the features that Enterprise has, and any that are missing (Such as the language packs and encryption) can be obtained through other software applications at an additional fee. Now, there is some bad news here too. Part of your issue really seems to lie in the server itself, as your Operating System isn't going to speed up file acquisition by as much as you may be hoping it will. I would recommend you upgrade the server itself, as it seems to be suffering from a load too big for it to handle. The Operating System upgrade will likely speed the process up some by itself, however your real issue lies in the server itself. I hope that I was able to provide adequate assistance and answer any questions you have have had. If you have any more, then you may feel free to email or call me at any time. I'm always...
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...Letters Accountants write letters of variety of people, different types of accountant writes different letters to different types of people. There are some principles of good letter writing that are introduced in this chapter such as: organization, style, tone, and format. Before we start with the letter, we need to have a clear understanding of what the letter should cover so that we won’t forget something important. The length of the letter doesn’t matter although many letters are no longer than a page. We also need to analyze the purpose of the letter before we start writing it. It’s also important to think about the reader that we are writing to, the reader’s knowledge and experience should determine how much detail we should use in our business letters. Sometimes we much explain complex accounting procedures in the words that a non-accountant can understand. Our letter is organized into an introduction, a body, and a conclusion. The introduction of the letter should address the main idea that we are trying to express and the purpose of the letter that we are writing. The body of the letter is divided into different discussions of each topic. Arrange the topics in descending order of importance from the reader’s point of view, this is really important. The conclusion may be a conventional courteous closing: thank you very much for your help. The conclusion is also a good place to tell the reader what we want him or her to do, or what we will do to follow up on the subjects...
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...Engagement Letters Auditors generally provide audit engagement letters as one of the final steps in the audit planning stage. The letter summarizes all the information the auditor has gained about the client, the client needs and audit objectives, as well as the scope of the audit and what the client is responsible for doing. Additionally, audit engagement letters clearly indicate the auditor assigned to the audit. They also may indicate additional information the auditor will need during the audit, the auditor's fees, people with whom the auditor will need to speak and how much time the auditor has to finish his work. Also sometimes included are relevant financial and accounting regulations to which the auditors must adhere. A good audit engagement letter also recognizes that not all clients are familiar with audit procedures and therefore outlines those procedures for clarification. Audit engagement letters are very similar to work contracts in the way they are constructed in that they define duties and relationships, but based on their wording, they are not necessarily legally binding the way a formal contract is. purpose of the engagement letter The main purpose of the engagement letter is to clearly define the extent of the responsibilities of the auditor and so minimise the possibility of any misunderstanding between the client company and the auditor in this respect. It is in the interest of both client and auditor that the auditor sends an engagement letter,...
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...CREDIT MANAGEMENT Credit management is the process for controlling and collecting payments from your customers. A good credit management system will help you reduce the amount of capital tied up with debtors (people who owe you money) and minimise your exposure to bad debts. Good credit management is vital to your cash flow. It is possible to be profitable on paper and but lack the cash to continue operating your business. Credit management tips It is best to minimise the likelihood of bad debts through good credit management practices. The following suggestions will assist you in preparing your own policies and procedures for credit management: Terms and conditions Clearly state in writing your terms and conditions of trade and your credit policy in writing. Draft terms and conditions that suit your business. It is strongly advised you seek legal advice before finalising the document to ensure it has internal consistency and covers all the key issues. It's also important to ensure the document does not contain any illegal terms and can be relied on in the event that court action is necessary to recover a debt. Include your terms on all quotes, estimates, contracts , agreements, purchase orders, and related documentation. Clearly specify what will be supplied, when the work will be done, and when and how payment is to be made. Obtain a written acceptance of the agreement along with written approval of any variations to the original agreement. Some terms and conditions...
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...process for any engagement is to make contact with the potential client. The goal of this step is to obtain new audit business. This is often times is done through the submittal of a general proposal that includes details on the nature of services provided, the qualifications of the firm’s auditors, anticipated fees, and other pertinent information to persuade the client to choose the firm. If the potential client is a publicly held company, arrangements for the audit are made through the audit committee. The proposal and oral presentations are made to provide a basis for selection. If the potential client is a private company, a partnership, or a smaller company, arrangements are made through the owners, a partner, or an executive of the company. This initial contact will often lead to oral discussions, negotiations, and other fact-finding topics before a final formal proposal is written and the audit is accepted. The proposal will also include a mention of contacting the previous auditor of the potential client. This is important because the potential client will have to give consent to the previous auditor to discuss confidential information. This way all parties involved have full disclosure. The outcome of the initial contact is proceeding to the next step in the process, communicating with the predecessor auditor. The second step in the audit process is communicating with the potential clients previous auditor. This is...
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...Audit Process Letter Laura Sferra ACC/546 November 23, 2015 Allen Foster Mrs. Susan Right Senior Partner Anderson, Olds, and Watershed 1 Shoe Street New York, NY. 90001 Dear Mrs. Right, Mr. Lancaster, President of Apollo Shoes, has expressed his satisfaction with the services that our firm offers and would like to continue with a full audit. Because our client does not want our firm to talk to the predecessor auditor, I recommend accepting a prospective engagement after I perform an investigation by gathering information about our client's reputation and background. Client acceptance and continuance procedures are the foundation of the risk assessment process (SAS No. 8). Upon acceptance of our client, I am confident that we will be able to move forward under the AICPA auditing standards to determine that the financial reporting framework is appropriate. My objective is to plan the audit so that it is conducted efficiently and effectively, in accordance with Generally Accepted Auditing Standards. I will take into consideration the preliminary planning activities such as the client acceptance, ethical position of our audit firm and our understanding of the entity and its environment, including its internal control, to develop an effective and efficient overall audit strategy that will appropriately respond to assessed risks. Our engagement letter, will include the timetable of fieldwork, the scope and duration of...
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...Abstract Through narrative therapy a counselor can help clients gain access to preferred story lines about their lives and identities taking the place of previous negative and self-defeating narratives that destroy the self. Presented in this paper, is an overview of the Narrative therapy and the Social Construction Model and several facets of this approach including poststrucuralism, deconstructionism, self-narratives, cultural narratives, therapeutic conversations, ceremonies, letters and leagues. A personal integration of faith in this family counseling approach is presented and discussed also in this paper. NARUMI AMADOR’S FAMILY CONSELING APPROACH Introduction Narrative therapy is found under the Social Construction Model. Using the Narrative approach, the therapist will not be the central figure in the therapeutic process, instead he will be influential to the client, helping him/her internalize and create new stories within themselves to draw new and healthier assumptions about who they are. This process enables clients to distract from focusing on the negative narratives which defined their past, redefining their lives into future positive stories. Narrative therapists define the problem as the problem instead of defining the client as the problem. The therapy process begins redefining the problem, externalizing it and getting it out in the open. The narrative therapist uses the questioning technique and creates alternative narratives...
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...Q1.1 PM/02: The engagement letter of <Client> Provision of Advisory Services to <Client> We set out below the terms of the engagement of your firm to provide advisory services (“the Services”) in connection with the review of the finance function service delivery models for <Client> as discussed at our meeting with Peter Bergerac last week. Any work performed in connection with the engagement before the date of this letter will also be governed by the terms and conditions of this letter. Scope of the work Our scope is to provide independent and objective advice to <Client> management around the service delivery model and options for the following finance functions performed by each in-scope country: Accounts Payable Accounts Receivable General Ledger Treasury Operations We will provide independent evaluations of the alternative service models at hand to <Client> management and suggest which one can benefit them the most in potential cost cutting and improvement in profit margins. We will also provide an in depth analysis of the benefits of the centralization of the Treasury function and its effect on the regional holding companies and their employees. Thus we will be submitting a report to the <Client> management on the feasibility of the proposed centralization. The review of countries and operations covered by this engagement include: Germany France Belgium Corporate (Western Europe Subregion...
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...Bank guarantee Vs Letter Of Credit A bank guarantee and a letter of credit are similar in many ways but they're two different things. The main difference between these two credit security instruments is the position of the bank relative to the buyer and seller of a good, service or basket of goods or services in the event that the buyer defaults. These financial instruments are often used in trade financing when suppliers, or vendors, are purchasing and selling goods to and from overseas customers with whom they don't have established business relationships. A bank guarantee is a guarantee made by a bank on behalf of a customer (usually an established corporate customer) in case it fails to deliver the payment, essentially making the bank a co-signer for one of its customer's purchases. A guarantee is a written contract stating that in the event that the borrower is unable or unwilling to pay its debt to a merchant, the bank will act as a guarantor and step in to pay that debt. The initial claim is still settled primarily against the bank's client, and not the bank itself. This is a type of contingent guarantee. A bank guarantee is more risky for the merchant and less risky for the bank. But this is not the case with a letter of credit. While a letter of credit is similar, the principal difference is that it is a potential claim against the bank, rather than a bank's client. For example, a seller may request that a buyer be provided with a letter of credit, which must...
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