Free Essay

Morgan Horse Memo

In: Business and Management

Submitted By maeg41390
Words 287
Pages 2
Memorandom

To: Tax Manager
From: Sarah Garlick
Date: 11/9/11
Re: Mr. and Mrs. John Smith – Morgan Horse

Facts:
The Smiths’ Adjusted Gross Income is $170,000 and taxable income is $140,000. They have an opportunity to deduct more from their taxable income. The Smiths purchased the Morgan Horse for $10,000 six years ago for their daughter to ride, and they spent an extra $4000 to train the horse. The Smiths are looking to donate the horse to the local police unit. The estimated fair market value of the Morgan Horse is $24,000.
Issues:
1) Should Mr. and Mrs. Smith donate the Morgan Horse to the local mounted police unit? 2) How much can they deduct for 2011 as a charitable contribution?
Conclusions:
The Smiths should donate the Morgan Horse to the local police unit. In the event they donate the horse, they should recognize and deduct the $24,000 fair market value of the Morgan Horse.
Discussions:
The donation of the Morgan Horse is considered a donation of appreciated capital gain property because the Smiths have owned it for more than one year, and would recognize a long term capital gain if the horse was sold at the date of the contribution to the local police department. If the Smiths donate the horse to the public charity and the charity will use the horse for their primary function, the fair market value of the Morgan Horse can be recognized as a charitable contribution. Also, deductions for contribution of capital gain property are limited to 30% of the adjusted gross income. Since the Smiths charitable contribution is less than 30% of their adjusted gross income, the full fair market value is deductible.

Similar Documents

Premium Essay

Fyt2 Task1

...hosts its own website that allows clients to log in and enter case information. An evaluation of the network and security configuration to determine threats and weakness to the existing system has been completed. A list of the top five associated threats for the Server, Workstations, and Website are outlined below. The following memo discusses the likelihood of the threats occurrence and recommended security controls and countermeasures that should be used to mitigate these threats. Shown illustrated below are network drawings of the current configuration and a proposed security solution. The addition of a router, firewall, domain controller, and a DMZ will be discussed. Current business practices that allow user downloads, installation of software, lack of an application updates, and operating system patches policies will be discussed. A lack of security methods to provide Confidentiality, Integrity, and Availability (CIA) will be covered and the development of an Acceptable Use Policy (AUP) that includes training on the AUP will be laid out. A1. Server Threats 1. Malicious software (Malware): The introduction of computer viruses, worms, Trojan horses, spyware, adware, and rootkits can allow attackers to gain control on the device or computer. This allows attackers to steal, damage, or destroy files and data on infected machines. 2. Operation System (OS) Flaws: Weaknesses or flaws in the OS which allow an attacker exploit these flaws to gain root access to the underlying OS. This...

Words: 2179 - Pages: 9

Free Essay

Exchange Traded Fund

...Exchange-traded fund From Wikipedia, the free encyclopedia An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks.[1] An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. Most ETFs track an index, such as the S&P 500 or MSCI EAFE. ETFs may be attractive as investments because of their low costs, tax efficiency, and stock-like features.[2][3] ETFs are the most popular type of exchange-traded product.[citation needed] Only so-called authorized participants (typically, large institutional investors) actually buy or sell shares of an ETF directly from or to the fund manager, and then only in creation units, large blocks of tens of thousands of ETF shares, which are usually exchanged in-kind with baskets of the underlying securities. Authorized participants may wish to invest in the ETF shares for the long-term, but usually act as market makers on the open market, using their ability to exchange creation units with their underlying securities to provide liquidity of the ETF shares and help ensure that their intraday market price approximates to the net asset value of the underlying assets.[4] Other investors, such as individuals using a retail broker, trade ETF shares on this secondary market. An ETF combines the valuation feature of a mutual fund or unit investment trust, which can be bought or sold at the end of each trading day for its net asset value, with...

Words: 6055 - Pages: 25

Free Essay

Investing

...Press All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of Oxford University Press. Library of Congress Cataloging-in-Publication Data is available ISBN-13: 978-0-19-530792-4 ISBN-10: 0-19-530792-5 1 3 5 7 9 8 6 4 2 Printed in the United States of America on acid-free paper For Chaille Bianca and Vivienne Lael and William Grant who says he wants to be an investment banker ACKNOWLEDGEMENTS As a f i r s t - t i m e au t h o r , I have many people to thank. Luckily for the reader, most of them are current and former employees of Goldman Sachs and Morgan Stanley who would prefer not to be cited. Their support and insight were invaluable to this enterprise. For early encouragement and guidance I must also thank Clare Reihill at Harper Collins, Brian Kempner and Peter Kaplan at the New York Observer, L. Gordon Crovitz...

Words: 114081 - Pages: 457

Free Essay

Student

...Steering Behaviors For Autonomous Characters Craig W. Reynolds Sony Computer Entertainment America 919 East Hillsdale Boulevard Foster City, California 94404 craig_reynolds@playstation.sony.com http://www.red.com/cwr/ cwr@red.com Keywords: Animation Techniques, Virtual/Interactive Environments, Games, Simulation, behavioral animation, autonomous agent, situated, embodied, reactive, vehicle, steering, path planning, path following, pursuit, evasion, obstacle avoidance, collision avoidance, flocking, group behavior, navigation, artificial life, improvisation. Abstract This paper presents solutions for one requirement of autonomous characters in animation and games: the ability to navigate around their world in a life-like and improvisational manner. These “steering behaviors” are largely independent of the particulars of the character’s means of locomotion. Combinations of steering behaviors can be used to achieve higher level goals This paper divides motion behavior into three levels. It will focus on the (For example: get from here to there while avoiding obstacles, follow this corridor, join that group of characters...) middle level of steering behaviors, briefly describe the lower level of locomotion, and touch lightly on the higher level of goal setting and strategy. Introduction Autonomous characters are a type of autonomous agent intended for use in computer animation and interactive media such as games and virtual reality. These agents represent a This stands...

Words: 10766 - Pages: 44

Premium Essay

Dont Shoot the Dog

...eVersion 1.0 - click for scan notes DON'T SHOOT THE DOG Karen Pryor To my mother, Sally Ondeck; my stepmother, Ricky Wylie; and Winifred Sturley, my teacher and friend. Contents Foreword 1—Reinforcement: Better than Rewards In which we learn of the ferocity of Wall Street lawyers; of how to—and how not to—buy presents and give compliments; of a grumpy gorilla, a grudging panda, and a truculent teenager (the author); of gambling, pencil chewing, falling in love with heels, and other bad habits; of how to reform a scolding teacher or a crabby boss without their knowing what you've done; and more. 2—Shaping: Developing Super Performance Without Strain or Pain How to conduct an opera; how to putt; how to handle a bad report card. Parlor games for trainers. Notes on killer whales, Nim Chimpsky Zen, Gregory Bateson, the Brearley School, why cats get stuck in trees, and how to train a chicken. 3—Stimulus Control: Cooperation Without Coercion Orders, commands, requests, signals, cues, and words to the wise; what works and what doesn't. What discipline isn't. Who gets obeyed and why. How to stop yelling at your kids. Dancing, drill teams, music, martial arts, and other recreational uses of stimulus control. 4—Untraining: Using Reinforcement to Get Rid of Behavior You Don't Want Eight methods of getting rid of behavior you don't want, from messy roommates to barking dogs to bad tennis to harmful addictions, starting with Method 1: Shoot the Animal, which definitely works, and ending with...

Words: 65349 - Pages: 262

Free Essay

Sometihing

...Moore−Parker: Critical Thinking, Ninth Edition 5. Persuasion Through Rhetoric: Common Devices and Techniques Text © The McGraw−Hill Companies, 2009 Chapter Persuasion Through Rhetoric 5 It’s just the way things are: Images and impressions tend to sell more products than good arguments do. At least some of the images are fun. Common Devices and Techniques W hen the military uses the phrase “self-injurious behavior incidents” regarding detainees at Guantánamo Bay, it means what most of us call “attempted suicides.” In fact, when the word “detainees” is used, it means what most of us call “prisoners.” “Waterboarding” sounds at first like something you’d expect to see young people doing on a California beach, not a torture technique that involves forced simulated drowning. Less remarkable, perhaps, but possibly more relevant for most of us, we’ve heard the term “downsized” used when someone is fired or laid off. “Ethnic cleansing” covers everything from deportation to genocide. What we have to say may be important, but the words we choose to say it with can be equally important. The examples just given are cases of a certain type of linguistic coercion—an attempt to get us to adopt a particular attitude toward a subject that, if described differently, would seem less attractive to us. Words have tremendous persuasive power, or what we have called their rhetorical force or emotive meaning—their power to express and elicit images, feelings, and emotional...

Words: 15202 - Pages: 61

Free Essay

Bloodlines of the Illuminati

...Bloodlines of Illuminati by: Fritz Springmeier, 1995 Introduction: I am pleased & honored to present this book to those in the world who love the truth. This is a book for lovers of the Truth. This is a book for those who are already familiar with my past writings. An Illuminati Grand Master once said that the world is a stage and we are all actors. Of course this was not an original thought, but it certainly is a way of describing the Illuminati view of how the world works. The people of the world are an audience to which the Illuminati entertain with propaganda. Just one of the thousands of recent examples of this type of acting done for the public was President Bill Clinton’s 1995 State of the Union address. The speech was designed to push all of the warm fuzzy buttons of his listening audience that he could. All the green lights for acceptance were systematically pushed by the President’s speech with the help of a controlled congressional audience. The truth on the other hand doesn’t always tickle the ear and warm the ego of its listeners. The light of truth in this book will be too bright for some people who will want to return to the safe comfort of their darkness. I am not a conspiracy theorist. I deal with real facts, not theory. Some of the people I write about, I have met. Some of the people I expose are alive and very dangerous. The darkness has never liked the light. Yet, many of the secrets of the Illuminati are locked up tightly simply because secrecy is a way...

Words: 206477 - Pages: 826

Premium Essay

If Tomorrow Comes

...Sydney Sheldon - If Tomorrow Comes If Tomorrow Comes Sydney Sheldon Hmmm, looks like another genie got out of the bottle Me Fiction Scanned and fully proofed by nihua, 2002-03-24 v4.1 CR/LFs removed and formatting tidied. pdb conversion by bigjoe. IF TOMORROW COMES by Sidney Sheldon, ©1985 BOOK ONE Chapter 01 New Orleans THURSDAY, FEBRUARY 20--- 11:00 P.M. She undressed slowly, dreamily, and when she was naked, she selected a bright red negligee to wear so that the blood would not show. Doris Whitney looked around the bedroom for the last time to make certain that the pleasant room, grown dear over the past thirty years, was neat and tidy. She opened the drawer of the bedside table and carefully removed the gun. It was shiny black, and terrifyingly cold. She placed it next to the telephone and dialed her daughter's number in Philadelphia. She listened to the echo of the distant ringing. And then there was a soft "Hello?" "Tracy... I just felt like hearing the sound of your voice, darling." "What a nice surprise, Mother." "I hope I didn't wake you up." "No. I was reading. Just getting ready to go to sleep. Charles and I were going out for dinner, but the weather's too nasty. It's snowing hard here. What's it doing there?" Dear God, we're talking about the weather, Doris Whitney thought, when there's so much I want to tell her. And can't. "Mother? Are you there?" Doris Whitney stared out the window. "It's raining." And she thought, How melodramatically appropriate. Like an...

Words: 123246 - Pages: 493

Free Essay

Bush

...FAMILY OF SECRETS The Bush Dynasty, America’s Invisible Government, and the Hidden History of the Last Fifty Years RUSS BAKER Contents Foreword by James Moore 1. How Did Bush Happen? 2. Poppy’s Secret 3. Viva Zapata 4. Where Was Poppy? 5. Oswald’s Friend 6. The Hit 7. After Camelot 8. Wings for W. 9. The Nixonian Bushes 10. Downing Nixon, Part I: The Setup 11. Downing Nixon, Part II: The Execution 12. In from the Cold 13. Poppy’s Proxy and the Saudis 14. Poppy’s Web 15. The Handoff 16. The Quacking Duck 17. Playing Hardball 18. Meet the Help 19. The Conversion 20. The Skeleton in W.’s Closet 21. Shock and . . . Oil? 22. Deflection for Reelection 23. Domestic Disturbance 24. Conclusion Afterword Author’s Note Acknowledgments Notes Foreword When a governor or any state official seeks elective national office, his (or her) reputation and what the country knows about the candidate’s background is initially determined by the work of local and regional media. Generally, those journalists do a competent job of reporting on the prospect’s record. In the case of Governor George W. Bush, Texas reporters had written numerous stories about his failed businesses in the oil patch, the dubious land grab and questionable funding behind a new stadium for Bush’s baseball team, the Texas Rangers, and his various political contradictions and hypocrisies while serving in Austin. I was one of those Texas journalists. I spent about a decade...

Words: 249168 - Pages: 997

Premium Essay

Exorbitant Priviledge

...EXORBITANT PRIVILEGE EXORBITANT PRIVILEGE The Rise and Fall of the Dollar and the Future of the International Monetary System Barry Eichengreen Oxford University Press, Inc., publishes works that further Oxford University’s objective of excellence in research, scholarship, and education. Oxford New York Auckland Cape Town Dar es Salaam Hong Kong Karachi Kuala Lumpur Madrid Melbourne Mexico City Nairobi New Delhi Shanghai Taipei Toronto With offices in Argentina Austria Brazil Chile Czech Republic France Greece Guatemala Hungary Italy Japan Poland Portugal Singapore South Korea Switzerland Thailand Turkey Ukraine Vietnam Copyright © 2011 by Barry Eichengreen Published by Oxford University Press, Inc. 198 Madison Avenue, New York, NY 10016 www.oup.com Oxford is a registered trademark of Oxford University Press All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of Oxford University Press. Library of Congress Cataloging-in-Publication Data Eichengreen, Barry J. Exorbitant privilege : The Rise and Fall of the Dollar and the Future of the International Monetary System / Barry Eichengreen. p. cm. Includes bibliographical references and index. ISBN 978-0-19-975378-9 1. Money—United States—History—20th century. 2. Devaluation of currency—United States—History—21st century. 3. United States—Economic...

Words: 81879 - Pages: 328

Premium Essay

Art of Deception

...THE ART OF DECEPTION Controlling the Human Element of Security KEVIN D. MITNICK & William L. Simon Foreword by Steve Wozniak Scanned by kineticstomp, revised and enlarged by swift For Reba Vartanian, Shelly Jaffe, Chickie Leventhal, and Mitchell Mitnick, and for the late Alan Mitnick, Adam Mitnick, and Jack Biello For Arynne, Victoria, and David, Sheldon,Vincent, and Elena. Social Engineering Social Engineering uses influence and persuasion to deceive people by convincing them that the social engineer is someone he is not, or by manipulation. As a result, the social engineer is able to take advantage of people to obtain information with or without the use of technology. Contents Foreword Preface Introduction Part 1 Behind the Scenes Chapter 1 Security's Weakest Link Part 2 The Art of the Attacker Chapter 2 When Innocuous Information Isn't Chapter 3 The Direct Attack: Just Asking for it Chapter 4 Building Trust Chapter 5 "Let Me Help You" Chapter 6 "Can You Help Me?" Chapter 7 Phony Sites and Dangerous Attachments Chapter 8 Using Sympathy, Guilt and Intimidation Chapter 9 The Reverse Sting Part 3 Intruder Alert Chapter 10 Entering the Premises Chapter 11 Combining Technology and Social Engineering Chapter 12 Attacks on the Entry-Level Employee Chapter 13 Clever Cons Chapter 14 Industrial Espionage Part 4 Raising the Bar Chapter 15 Information Security Awareness and Training Chapter 16 Recommended Corporate Information Security Policies Security at a Glance Sources...

Words: 125733 - Pages: 503

Premium Essay

Media - Advantages and Disadvantages

...How To Stop Worrying And Start Living By Dale Carnegie Courtesy: Shahid Riaz Islamabad – Pakistan shahid.riaz@gmail.com http://esnips.com/UserProfileAction.ns?id=ebdaae62-b650-4f30-99a4-376c0a084226 “How To Stop Worrying And Start Living” By Dale Carnegie 2 Contents Sixteen Ways in Which This Book Will Help You Preface - How This Book Was Written-and Why Part One - Fundamental Facts You Should Know About Worry 1 - Live in "Day-tight Compartments" 2 - A Magic Formula for Solving Worry Situations 3 - What Worry May Do to You Part Two - Basic Techniques In Analysing Worry 4 - How to Analyse and Solve Worry Problems 5 - How to Eliminate Fifty Per Cent of Your Business Worries Nine Suggestions on How to Get the Most Out of This Book Part Three - How To Break The Worry Habit Before It Breaks You 6 - How to Crowd Worry out of Your Mind 7 - Don't Let the Beetles Get You Down 8 - A Law That Will Outlaw Many of Your Worries 9 - Co-operate with the Inevitable 10 - Put a "Stop-Loss" Order on Your Worries 11 - Don't Try to Saw Sawdust Part Four - Seven Ways To Cultivate A Mental Attitude That Will Bring You Peace And Happiness 12 - Eight Words that Can Transform Your Life 13 - The High, Cost of Getting Even 14 - If You Do This, You Will Never Worry About Ingratitude 15 - Would You Take a Million Dollars for What You Have? 16 - Find Yourself and Be Yourself: Remember There Is No One Else on Earth Like You 17 - If You Have a Lemon, Make a Lemonade 18 - How to Cure Melancholy in...

Words: 115134 - Pages: 461

Free Essay

Wrgqerg

...OTHER BOOKS BY D. A. BENTON Lions Don’t Need to Roar How to Think Like a CEO The $100,000 Club Secrets of a CEO Coach HOW TO ACT LIKE A 10 Rules for Getting to the Top and Staying There CEO M C G R AW- H I L L SAN FRANCISCO LISBON WA S H I N G T O N , D. C . MADRID AU C K L A N D D. A. BENTON N E W YO R K B O G OT Á MILAN C A R AC A S LONDON NEW DELHI MEXICO CITY SINGAPORE MONTREAL S A N J UA N SYDNEY T O K YO TO RO N TO McGraw-Hill abc Copyright © 2001 by Debra A. Benton. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-137459-0 The material in this eBook also appears in the print version of this title: 0-07-135998-2. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales...

Words: 58501 - Pages: 235

Premium Essay

China

...The Transformation of China from an Emerging Economy to a Global Powerhouse James R. Barth, Gerard Caprio Jr., and Triphon Phumiwasana Abstract Throughout the past three decades of fast growth, China has undergone tremendous structural changes in its economy and financial system. This chapter examines China’s evolving financial landscape so as to assess whether it can catch up with or even drive economic growth. China has achieved remarkable growth over the past quarter of a century despite a relatively inefficient financial system. Just as the public sector around the world has not proved to be an efficient manager of enterprises, it also has not been an efficient manager of banks. A solution that would seem to work in theory would be to grow the private sector’s role in the banking system, using banks that operate on market principles as a way to continually starve inefficient enterprises of credit, while supplying credit to the productive enterprises. Finding a way to make this work in practice will require both finesse and good fortune on a scale commensurate with China’s growing importance in the world economy. Keywords Bank Á Banking sector Á Financial market Á Big Four Á GDP Á Economic growth Á Financial system Á Trade Á Renminbi Á Exchange rate Á India Á Foreign exchange reserve Á Non-performing loan 1 Introduction China has captured the attention of the world with its unprecedented growth for such a big country during the past 30 years. At an average rate of 9...

Words: 16066 - Pages: 65

Premium Essay

Game Change

...GAME CHANGE OBAMA AND THE CLINTONS, MCCAIN AND PALIN, AND THE RACE OF A LIFETIME JOHN HEILEMANN AND MARK HALPERIN FOR DIANA AND KAREN Contents Cover Title Page Prologue Part I Chapter One – Her Time Chapter Two – The Alternative Chapter Three – The Ground Beneath Her Feet Chapter Four – Getting to Yes Chapter Five – The Inevitables Chapter Six – Barack in a Box Chapter Seven – “They Looooove Me!” Chapter Eight – The Turning Point Chapter Nine – The Fun Part Chapter Ten – Two For the Price of One Chapter Eleven – Fear and Loathing in the Lizard’s Thicket Chapter Twelve – Pulling Away and Falling Apart Chapter Thirteen – Obama Agonistes Chapter Fourteen – The Bitter End Game Part II Chapter Fifteen – The Maverick and His Meltdown Chapter Sixteen – Running Unopposed Chapter Seventeen – Slipping Nooses, Slaying Demons Part III Chapter Eighteen – Paris and Berlin Chapter Nineteen – The Mile-High Club Chapter Twenty – Sarahcuda Chapter Twenty-One – September Surprise Chapter Twenty-Two – Seconds in Command Chapter Twenty-Three – The Finish Line Epilogue – Together at Last Index Author’s Notes About the Authors Copyright About the Publisher Prologue BARACK OBAMA JERKED BOLT upright in bed at three o’clock in the morning. Darkness enveloped his low-rent room at the Des Moines Hampton Inn; the airport across the street was quiet in the hours before dawn. It was very late December 2007, a few days ahead of the Iowa caucuses. Obama had been sprinting flat out...

Words: 160589 - Pages: 643