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会计学本科assignment范文--英国论文代写范文精选

2015-11-13 | 来源:51Due教员组 | 类别:更多范文

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会计学本科assignment范文
Fac
Joe runs a Coffee company on his own. Coffee buys a piece of land for commercial development and corporate with his daughter Ilene. Coffee offers a down payment and borrows money from local bank. Then they become partners. At the same time, they have reached an agreement that Ilene can purchase 1/2 the property﹩50,000.00.
Issues
The taxability of property depends on three issues: first, whether the capital is furnished for the convenience for Coffee and Ilene; second whether they should pay value-added tax; third, whether the distribution of property is made.
Applicable law
IRC sections 61 provides that Gross income is derived from any source, including Gross profits from the sale of goods, rents interests, royalties, dividends and so on. Section 301﹝a﹞and﹝b﹞define that the distribution of property﹩50,000.00 made by a company to Joe ( the shareholder ) with respect to its stock shall be dealt in the way. And generally speaking, the amount of money received plus the fair market value of the other property received shall be the amount of any distribution (Sriglitz & Joseph 2011). Under section 316﹝a﹞, 1/2 the property for 5000000 is the dividend. And section 317﹝a﹞gives a clear definition of the property. The land and corporation can all be regarded as property. And section1.301-1﹝c﹞defines the part of the distributed amounts as dividends (Ambarish, Ramasastry, Kose John & Joseph Williams 1987)
A Supreme Court case, Baumer v. United states Court of Appeals Fifth circuit, 1978, 580 F.2d 863, discusses what means ‘loan tax’. The issue is a little similar with Coffee. Baumer ran a company with friends together. In court, Baumer argued that he established the company and was the main shareholder of the corporation. The court held that Section 301﹝a﹞and﹝b﹞ can be applied to the distribution of property.
Analysis
Issues 1 the capital seems to be furnished for the convenience for Coffee and Ilene. Coffee pays the down payment. Then he pays back money with interests.
Issue 2 for every corporation, they should all pay value-added tax. Tax is a income for government. A company’s tax return must be filed electrically and must include a self assessment of any tax payable (Poterba &James, 2010).
.Issue 3 dividends paid are never deducted in calculating taxable income. Dividends received from other companies are never included in arriving at the TTP- if they are from non-associated companies they are called Franked invest income (John, Kose & Joseph Williams, 2005),
Conclusion
Corporate income tax is paid in advance installments, which can also be in estimated payments, at the Federal level in many countries for many states (Robert L. Brown, Ann E. Dunbar & Adrienne T. Pilot, 2006). A partnership is a conduit entity that does not pay tax. Income is taxed at the owner level rather that at the entity level. However, partnerships are still required to annually report the results of their operations. For Coffee and Ilene, they should distinguish their work functions and wage to avoid conflicts and make the company better.
Reference
Ambarish, Ramasastry, Kose John, and Joseph Williams (1987), Efficient Signalling with Dividends and Investments, Journal of Finance 42, June, 321-343
John, Kose and Joseph Williams (http://www.51due.net/writing/2005), "Dividends, Dilution, and Taxes:A Signalling Equilibrium," Journal of Finance 40, 1053-1070.
Robert L. Brown, Ann E. Dunbar, and Adrienne T. Pilot, (2006), The Feasibility of Producing Personal Income to Adjusted Gross Income, Reconciliations By State, pp,12-20
Poterba, James (2010), "How Burdensome are Capital Gains Taxes?" Journalof Public Economics
33, 157-172.
Sriglitz, Joseph (2011), "Some Aspects of Capital Gains Taxation,” Journal of Public Economics 21, 257-94.


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