... | Student Answer: | | active income. | | | | portfolio income. | | | | passive income. | | | | None of the above | | Instructor Explanation: | Chapter 7; See the definition of portfolio income in Section 7205 of the textbook. | | | | Points Received: | 5 of 5 | | Comments: | | | | Question 2. | Question : | (TCO F) When comparing corporate and individual taxation, the following statement is true: | | | Student Answer: | | Unlike individual taxpayer, corporate may not have a long-term capital loss carryforward. | | | | Both types of taxpayers have percentage limitations on the charitable contribution deduction, coupled with a carryover of the excess contribution. | | | | All taxpayers may carry net operating losses back two years, forward 20 years. | | | | All of the above | | Instructor Explanation: | Chapter 14, 14.315; Corporate capital loss carryforwards are all treated as short term. | | | | Points Received: | 5 of 5 | | Comments: | | | | Question 3. | Question : | (TCO H) Charles and Marcia are married cash-basis taxpayers. In Year 8, they had interest income as follows (Becker CPA Review Course): * $700 interest on federal income tax refund. * $600 interest on state income tax refund....
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...would rather have employees. I would rather have someone working for me with a set schedule and set with the rules I enforce. I believe it would be much easier to run a business with employees over independent contractors. Most independent contractors are used for one specific trade. I would want to have versatile employees with a multitude of knowledge on things needing done. As a worker I would rather be an employee. I would want to be on a job with a set schedule and set pay. As an independent contractor a lot of the times you have to bid on jobs and only get so much up front for your work and your also have to pay for supplies and materials. As an employee you get everything need to get the job done successfully. 2. What is the passive activity loss limitation? Are rental activies passive activities? Why or why not? Passive activities are defined as the classification of business interest as a passive activity has profound tax consequences if the...
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...600 foot section broke out of the suspension font which caused a turning upside down as it crashed into Puget Sound. During the collapse, the main cables were thrown violently from side to side and were contorted and twisted after being tossed 100 feet into the air. On the north cable at mid-span, where the cable band loosened, it broke more than 350 wires. Other wires were severely stressed and distorted. The main cables were a total loss, but also salvage was undertaken. Their only value for the cause was a scrap metal. The violent collapse that broke many suspender cables. Some were lost, some were severely damaged. The Towers were the main towers, including the bracing struts that was twisted and bent. Stress beyond the elastic limit of the metal resulted in buckling and permanent distortion. Also, the Deck-Floor System was the concrete and steel of the center span that now lay on the bottom of the narrows which was deemed a total loss. The broken concrete on the side spans was the remainder, which needed for removal. Side Spans are the loss of the center section which was followed by the...
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...would lead me to the biggest sin of all. But I looked around, to find that it was only I who mourned the loss of those who passed away. Indifferent and inhuman, the circle of life ticked away hours and minutes as if nothing had happened. Meanwhile, in the scorching heats of the Thar dessert an infant passed away in the lap of his helpless mother from hunger and malnutrition. None of the news channels across the country bothered breaking this piece of news. For them it was just another addition the death toll which was rising every day. A death toll which was to be quoted in 120 second news report which was a forced addition as they knew no one would be bothered by it. Meanwhile, in the echelons of power, politicians, policy makers, bureaucrats and crooks alike continued with their agendas set for the day. No changes or additions were made whatsoever to them, as if Thar was part of the African continent and not a part of the Pakistan. The same Pakistan that mourned the death of 141 kids slaughtered by the mad men who call themselves Taliban but not the 70 lives in the month of January alone, out of which 66 were kids, killed by their own hands. You ask how they killed those 70 people. They killed them by their indifference and inhumanity, by not doing what they should have done for the drought stricken dessert men. What I fail to understand is why Sind Government suspended relief activities in the month of February when the death toll in the last...
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...Chapter 22 S Corporations SOLUTIONS MANUAL Discussion Questions: 1. [LO 1] In general terms, how are C corporations different from and similar to S corporations? S corporations are incorporated under state law and thus have the same legal protections as C corporations. They are governed by the same corporate tax rules that apply in the organization, liquidation, and reorganization of C corporations. However, unlike a C corporation, an S corporation is a flow-through entity and shares many tax similarities with partnerships. For example, basis calculations for S corporation shareholders and partners are similar, the income or loss of an S corporation flows through to its owners, and distributions are generally not taxed to the extent of the owner’s basis. 2. [LO 1] What are the limitations on the number and type of shareholders an S corporation may have? How are these limitations different from restrictions on the number and type of shareholders C corporations or partnerships may have? Only U.S. citizens or residents, certain trusts, and certain tax-exempt organizations may be shareholders, no corporations or partnerships. In addition, S corporations may have no more than 100 shareholders; family members and their estates count as one. C corporations and partnerships do not have a limit on the amount or type of shareholders or partners. 3. [LO 1] Why can’t large, publicly traded corporations be treated as S corporations? A publicly traded corporation...
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...1. On this site they give an overview of bilingual education from all perspectives. They explain what bilingual education is and how it came to be. It goes into great depth about the legislative actions that have been taken to ensure it is taught the same across the board both on a stated and federal level. This site is for or in support of bilingual education because they believe that since our country is comprised of so many different nationalities that it is important to be able to communicate with one another. It also defines the different approaches that bilingual education can be taught. 2. This article gives four different responses to a previous article that had pieces written by a couple different authors about bilingual education and why it is important. The majority of the article focuses on the response to one author in particular who is considered to be very well educated but not well versed in being an educator. While the author is in support of bilingual education his theories and ideas of how to get there are filled with a lot of “fluff” or unattainable options. He is somewhat of a political figure and tends to ride the fence on what might be considered controversial from someone of his stature. 3. This article is about bilingualism in politics. In this article the author writes about and teenage boy who was suspended from school for speaking Spanish. The author argues that the issue isn’t at all about language, but about immigration and issue...
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...construction, transportation and manufacturing not only deplete the natural resources but also produce large amount of wastes that leads to pollution of air, water, soil, and oceans; global warming and acid rains. Untreated or improperly treated waste is a major cause of pollution of rivers and environmental degradation causing ill health and loss of crop productivity. In this lesson you will study about the major causes of pollution, their effects on our environment and the various measures that can be taken to control such pollutions. OBJECTIVES After completing this lesson, you will be able to: • • • • • • • define the terms pollution and pollutants; list various kinds of pollution; describe types of pollution, sources, harmful effects on human health and control of air pollution, indoor air pollution, noise pollution; describe water pollution, its causes and control; describe thermal pollution; describe soil pollution, its causes and control; describe radiation pollution, sources and hazards. 10.1 POLLUTION AND POLLUTANTS Human activities directly or indirectly affect the environment adversely. A stone crusher adds a lot of suspended particulate matter and noise into the atmosphere. Automobiles emit from their tail pipes oxides of nitrogen, sulphur dioxide, carbon dioxide, carbon monoxide and a complex mixture of unburnt hydrocarbons and black soot which pollute the atmosphere. Domestic sewage and run off from agricultural fields, laden with pesticides 164 Environmental...
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...Invasion of a Patient’s Privacy and a Physician’s Loss HCS/335 October 21, 2013 Linda Hagler-Reid, MBA Introduction Physicians take an oath to do no harm and to place the welfare of their patients above all else; they vow to act with integrity, in accordance with the law, and within ethical guidelines. While individuals can perceive human behavior differently, there is no excuse for misconduct, degradation, or violation of a patient’s human rights. Ethically, it is not immoral to disagree about what is right and what is wrong, in some societies this is viewed as normal behavior. Despite differences in opinion, most will agree that there are certain standards of conduct that must be upheld, especially when it involves the human rights of others. Violation of a patient’s privacy is an act punishable by law, violation of a patient’s dignity is outright reprehensible, and what is considered to be unbecoming behavior of a medical professional. Although freedom to act as one pleases is a human right that is afforded us; to act without regard for others is morally wrong. Health care practitioners are often privileged to extremely personal information regarding their patients whether that information is health related or personal. All to frequently, physicians, nurses, and other health care professionals are witness to events that can be disturbing in nature. At times, these events can be unnerving and sometimes entertaining, but nevertheless should be kept confidential...
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...reliable employee. However, his outspoken advocacy for the union has left him without friends on the management team. James’ driver’s license was suspended for one week for sitting in the driver’s seat of his vehicle while waiting for an Uber to take him home safely after a night of drinks with co-workers. While James informed management immediately and expressed his remorse, demonstrating a willingness to assist in the understaffed warehouse during his brief, one-week suspension, he was dismissed for violating the Employee Handbook rule on unsafe driving. The union has five distinct arguments which prove Mel James’ termination from SpeedyPack Delivery...
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...Seabiscuit imposts above 130 causing Howard to scratch Seabiscuit from all of these races. Weeks without an actual race was not good for Seabiscuit. This meant that he would have to do extra training during the time in between his next race. This was even more difficult because the press was catching onto Tom Smith’s tricks, and Smith refused to let Seabiscuit practice in front of the press. At first, Smith would have Seabiscuit practice early in the morning, but as Lauren Hillenbrand writes, “the newsmen first tried showing up at ungodly hours of the morning.” Smith then tried practicing during the afternoons since the reporters would be gone by that time because the Santa Anita racetrack would have closed, but the reporters predicted what he was going to do and stayed later. Eventually the press began to follow Howard instead of Smith which made it so Howard could only watch parts of Seabiscuit’s workout. It almost got worse for Seabiscuit when a man named James Manning tried to stick a sponge up Seabiscuit’s nose which could have resulted in him having trouble breathing and caused his death. All of this resulted in Seabiscuit not being able to practice as much as he should have...
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...Year Eleven Chemistry Rust prevention in coating. Introduction/Abstract. The context of ships rusting at sea. Steel has many properties that make it a useful and essential building material in boats. Its strength and durability make it a great choice for structures exposed to high amounts of stress, such as weather, heat, large amounts of applied force and constant usage and is also a viable option for the sea although it can still be bettered. Steel is better protected by; galvanisation, waterproof paint or a sacrificial anode to better the corrosion protection for boats in the water compared to just bare steel framework (Corrosion methods, Corrosion-doctors.com;) these methods in theory protect the steel from the chlorides and salts to further the durability and life of the framework of a boat and hence allow them to endure more, and with corrosion costing $2.7 billion to just ships alone it’s easy to see why corrosion must be prevented. (The cost to the world because of corrosion with ships at $2.7 billion.) The chemistry of rust. Rust is caused by a few factors; moisture is the leading cause of rust along with water and salt, all making boats the most common victims of rust. (4 Fe+ 3O2 + 6 H2O= 4 Fe(OH)3,) Both water and oxygen must be present for rust to start and with water and oxygen on its own enough for rust to start destroying the structure of a boat, but along with salt to the water, it’ll become evident quickly that rust can be a big problem for many boat...
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...Adrian Peterson was charged with negligent injury to a child and the Minnesota Vikings deactivated Peterson for a season. While in the NBA banned and fired LA Clippers Don Sterling for racist remarks. The NFL recently created a Domestic Violence policy stating that first time offenders would be suspended for six games and repeat offenders would be banned for life. One thing that the NFL has yet to do is equal punishments for similar crimes. Ray Rice was suspended a year, because this was prior to the new domestic violence policy, and fined $4 million for that year, while Jim Isray was fined $500,000 for the same offense. This has to do with differential ownership in sports. That needs to change (McFarlin and Lee...
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...and receive no benefit from the allowable expenses. Second, many of the deductions are subject to limitations based on the taxpayer’s adjusted gross income. For example, the deduction for medical expenses is reduced by 7 1/2% of the taxpayer’s adjusted gross income. Thus, many of the allowable deductions from adjusted gross income are not deductible in full. In addition, total itemized deductions are subject to a reduction rule when the taxpayer’s adjusted gross income exceeds a specified amount, further lowering the value of such deductions. Lastly, given the reductions based on adjusted gross income, any deductions for adjusted gross income have the effect of making the allowable deductions from adjusted gross income larger. 4. What are the two primary categories of business expense? Why is it necessary to classify business expenses in these two categories? The two categories of business expense are: • Trade or business expenses, and • Expenses for the production of income (investment expenses). All expenses must be classified into one of...
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...--------------------------------------------------------------------------------------------------------------------- As of August 5, 2011 there has been a terrible and unfortunate accident in one of our copper mines in San Jose, Chile. The mine suffered a cave-in leaving 33 of our employees trapped inside the cave. Officials and rescue aid workers were notified immediately and working diligently to locate and save the trapped employees. The 33 employees are trapped at a depth of 300 meters. There is no official confirmation on how much food, water or oxygen is with the miners. The rescue mission consists of drilling holes into the caved in rocks, in which will help aid workers to locate the 33 trapped miners. A second cave-in on Saturday suspended aid missions for a several hours. Despite recent questions regarding the safety practices of our mines and organization, we are still adhering to all safety procedures, practices, and protocol set forth by both the FMC (Federation of Chilean Mining Workers and the CTC (Confederation of Copper Workers) and will continue to operate and being a leader in the Chilean copper mining world. All other mining projects and operations are still in operation and will not be set back due to this event. As more developments occur updates will follow our thoughts and prayers goes out to all miners, families, rescue workers and employees of Minera San Esteban Primera. Video Memo or face to face communication would be the best method. I feel...
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...Deadbeat Dads Rio Salado College CFS205 Early Childhood Education October 10, 2010 “What is a deadbeat dad?” Deadbeat dads are those who are under a child support obligation who have not made the required payments. The name deadbeat dad is not use just for fathers in the state of Georgia. Deadbeat parent is actually the term that is used for Georgia. A parent with this given title chose not to be financially a supportive parent in their children’s lives. Mostly used in the United States and Canada, the gender-specific deadbeat dad and deadbeat mom are commonly used by the child support agency to refer to men and women who have fathered or mothered a child and willingly fail to pay child support ordered by a family law court or statutory agency like the Child Support Agency. (www.gabar.org, 2008) The parent who fail to receive child support payments from a deadbeat parent can report that parent to the appropriate state agency responsible for ensuring child support collections. (Roger Thorne, 2010) The process for reporting a "deadbeat" parent is the same regardless of sex. In Georgia the policy for deadbeat dads consist of several things. The deadbeat parent is placed on child support. The Georgia Department of Human Services, Division of Child Support Services (DCSS) helps children by enforcing parental responsibility to pay financial support. All Georgia families have access to Division of Child Support Services, which include assistance with locating the non-custodial...
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