Resources for Corporation Capital Gains Tax

Corporation Capital Gains Tax News and Recent Updates

20 ways to get capital-gains tax break

But what you might not realize is that more than just stock and mutual-fund shares are eligible for favorable capital-gains tax treatment ... limited-liability company or S corporation. (The standard 20% maximum rate applies, but gains from, property ...

Capital Gains Income STREAMS: Proposal to Provide Investment Option to Shareholders

TORONTO, ONTARIO--(Marketwired - Apr 8, 2013) - The Board of Directors of Capital Gains Income STREAMS Corporation ("CG STREAMS") announced ... Yield or Equity Dividend shares exchanged (on a tax free rollover basis) for an equal dollar amount ...

How should the US pay for corporate tax reform?

not on capital gains. RECOMMENDED: What does the federal government do with your money? Take our taxes quiz. The swap makes sense. A lower corporate tax rate should help attract new business to Finland, which maintains an extremely open and ...

There Are Only Three Options For The US To Cut Corporate Tax Rates

... of what it did in 1986 and restrict individual tax expenditures to pay for a cut in corporate taxes. For example, tax rates on dividends and capital gains, which are well below the rates on ordinary income, could be raised. Those with dividends and ...

Rural Electrification Corp issues 54 EC bonds: Who should invest

Rural Electrification Corporation Ltd (REC) opened its fresh issue of Capital Gain Tax Exemption-54EC Bonds Series-IX for 2013-14. The issue opened on 1 April 2013 and will close on 31 March 2014 and the issue size is Rs 1,000 crore (plus green shoe option).

Seeing the wood from the trees regarding Capital Gains Tax

The Capital Gains Tax (CGT) on forestry has remained unchanged ... and that the proceeds attributable to the growing crop were income and therefore exempt from corporation tax (the sale having taken place prior to the change in the law when there was ...

Sacramento Spotlight: AB 1203/SB209 – Retroactive Capital Gains Tax Increase Repeal

Recognizing the detrimental effects taxing capital gains at high rates has on investment ... tax revenue ballooned from about 13% to over 40%, while both sale tax revenue and corporate tax revenue remained fairly constant. This is notable and problematic ...

Keeping What You Make – Managing Taxes Owed on Income Received

Capital gains and qualified dividend taxes could be 0% ... So to determine the tax equivalent of a municipal (tax free) bond to a corporate bond we would divide the tax free yield by (one) minus (marginal tax rate). For example, before the ...

Mutual funds hit by tax changes in budget

You can still switch from one corporate class to another without triggering tax consequences. Finance Minister Jim Flaherty took aim at funds that use derivatives to transform interest income into capital gains, of which only half are taxable.

Canada: Budget 2013: Changes To Personal Income Tax Rules

The Tax Act currently provides for a lifetime capital gains exemption (the "Lifetime Exemption") on gains of up to $750,000 realized by an individual who disposes of "qualified small business corporation" shares (i.e., shares of a "small business ...

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Capital Gains Income STREAMS: Proposal to Provide Investment Option to Shareholders

The Board of Directors of Capital Gains Income STREAMS Corporation announced today that it will hold a special meeting of shareholders to consider a proposal, subject to certain preconditions and all required ... more

Fiera Capital Corporation announces Intention to Cap Sales of the Fiera Tactical Bond Yield Fund

Fiera Capital Corporation announces Intention to Cap Sales of the Fiera Tactical Bond Yield Fund more

Income STREAMS III: Proposal to Provide Investment Option to Shareholders

The Board of Directors of Income STREAMS III Corporation announced today that it will hold a special meeting of shareholders to consider a proposal, subject to certain preconditions and all required regulatory ... more

Mozambique: ENI Tax Avoidance Ploy Confirmed

[AIM]Maputo -The Mozambican Tax Authority (AT) has confirmed that the Italian energy company ENI is attempted to avoid paying any capital gains tax on the sale of part of its stake in Area Four of the Rovuma Basin to the China National Petroleum Corporation (CNPC). more

Called to Account: Tax changes are a bonus

The top rate of income tax for those who earn more than £150,000 dropped from 50% to 45% yesterday. The fall is expected to trigger the payment of about £6.25bn in bonuses and dividends over the next year. more

Ferro Increases 2013 Earnings Guidance and Estimates Cumulative Cost Savings of $70 Million in 2014

Ferro Corporation announced today that adjusted earnings per share for the quarter ending March 31, 2013, are now expected to be in the range of $0.05 to $0.07, compared to the previously announced range of $0.02 to $0.05. more

Budget 2013: Corporation tax cut to 20% in bid to boost business

GEORGE OSBORNE declared Britain is 'open for business' today as he cut the rate of corporation tax to 20%. more

Stellus Capital Investment Corporation Reports Results from Inception (May 18, 2012) through December 31, 2012

Stellus Capital Investment Corporation today announced financial results for the period from May 18, 2012 through December 31, 2012. more

Budget 2013: Corporation tax cut as growth halved

ECONOMIC GROWTH this year will only be half of what was previously forecast, the chancellor admitted in his Budget speech, but insisted that the UK would not slip into a triple-dip recession. more

Unaudited pro forma financial effects relating to the Restructure Plan by Atlatsa and withdrawal of existing ...

Unaudited pro forma financial effects relating to the Restructure Plan by Atlatsa and withdrawal of existing cautionary announcement more

Low turnover, poor corporate profits and capital gains tax weigh heavily on Taiex

As investors wait to see results of the capital gains tax vote and fret over Europe, they mostly stood on the sidelines today. The Taiwan ...

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Complete video at: http://fora.tv/series/monitor_breakfast Getting away from partisan bickering, Los Angeles Mayor Antonio Villaraigosa said ...

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How to make sure the sale of your Small Business and Qualified Farm Property qualifies for the life time capital gains exemption of $750000 ...

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Why have capital gains taxes? To pay tax on the inflation government creates. It is an assets tax. No more Schedule D. peter ...

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The correct capital gains tax rate is zero because there should be no double taxation of income that is saved and invested. This is why all ...

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For your free course notes to accompany this video visit www.theexpgroup.com/expand/

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Watch more at http://www.theyoungturks.com Check out the entire clip on our website.

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CP Friday 20101001.

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A capital gains tax is a tax on profit. Find out what capital gains taxes are from an estate planning and probate lawyer in ...

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http://thefilmarchive.org/ January 30, 2007 A capital gain is a profit that results from investments into a capital asset, such as stocks ...

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Open Question: "Income Taxed by Indiana".. Column B on the shedule A?

I lived and worked in Illinois for most of 2012 and I moved to Indiana in October. I now have to fill out the IT-40PNR and a Schedule A along with it. For section 1 I have to fill out 2 columns of numbers The first, Column A is identical to my federal return. Column B is for "Income Taxed by Indiana".... and I don't know how to fill that out. On the version for Illinois I listed all of my income because as the Illinois instructions made clear, I had to list all money I gained from Illinois sources. For indiana, how do I determine what income is "taxed by Indiana" For part-year residents, the portion of the following types of income from Indiana sources that were received while a nonresident should not be reported as income taxed by Indiana: interest, dividends, unemployment compensation, royalties and gains from the sale of capital assets, unless such income results from the conduct of a trade or business. For example, dividends received from an S corporation doing business in Indiana should be reported by nonresidents as income taxable in Indiana. more

Open Question: Wouldn't the abolition of the corporate tax, capital gains tax and all regulations that do anything...?

beyond protecting private property rights, be all that is need for the corporations and the wealthy to turn the United States into a virtual utopia? more

Resolved Question: If you have a capital loss from a limited partnership's schedule K-1, should you also receive a form 8949?

from the publicly traded limited partnership to report the details of that capital loss to you? Or, does it only need to be reported to you in boxes 8, 9, and/or 10 of section 3 of the schedule K-1? On page 1 of the instructions for form 8949, under the "schedule D" section, it says that "electing large partnerships and corporations report this type of gain or (loss) on Form 8949". Thus, if you had a capital loss on schedule K-1, is it optional for the limited partnership to also issue a form 8949 to you? more

Voting Question: In what ways has the conservative movement convinced so many uneducated whites to vote contrary to their?

economic self-interest? For example, it makes perfect sense for the CEO of a major corporation to vote for a Republican who wants to abolish the capital gains tax and lower the top marginal rate, even if that means reduction in social services benefits. It makes no sense for Bubba, who drives the beer truck, who relies on said social services to feed his kids, to vote the same way. Yet tens upon millions do. At this point, you almost have to laugh at a poor conservatives voting against their interests. more

Resolved Question: How can the rich pay 70% of the taxes when only 45% of federal revenue comes from personal income taxes?

Are you telling me they pay all of the payroll taxes too?capital gains are personal income taxes. corporate income taxes are not personal income taxes. more

Resolved Question: Should the "income tax" be replaced with a "wealth tax" to make sure all corporations pay?

Should the "income tax" be replaced with a "wealth tax" to make sure all corporations pay their fair share ? more

Resolved Question: What was he trying to say? (Ill answer yours)?

My friend messaged the guy i like on fbook, they were talking and he doesnt like her very much in general. She was just talking about how she thinks im "spunky, beautiful, nice, amazing, super sweet, and would never try to hurt anybody" he said back, "i didnt need the mssg for her, but it makes me think more highly of you than i used to." She said back, "do u mean tht u didnt need me to tell u about how shes amazing super sweet spunky and beautiful cuz u already thought tht urself or wat?" and he said back, "ehh...the way you word it makes it sound like i was saying i like her more than i do, i dont know her that well yet. i was saying you dont have to vouch for her because ive already "experienced" some time with her, i cant say me and her are even friends yet but she finally showed less shyness toward me so at least there isnt that awkward look away feeling left over from those lame texts, to sum up what i think of her, i dont know, we just met really but she seems cool." In addition, me and him have been texting for over a year now...but not really much about anything we just started hanging out in person so we basically just met so thats what he was talkin bout when he said " there isnt that awkward look away feeling left over from those lame texts" So what im trying to ask all of ya is what he meant...was he trying to say that he doesn't know if he'll like me as more than a friend as he gets to know me more or was he just saying he doesn't know if we'll be friends yet...or was he saying that he doesnt know which way it will go cuz im confused as to what he was referring to here..Thanks guys! more

Resolved Question: Does this dude like me......?

So we used to be friends, me and J, and he found I liked him and my feiend told him I didn't because he didn't like me but he told someone I was pretty. He denied to me and my friends that he liked me evn when he knew I liked him. So his best friend L told my best friend W that J likes W but my friend B said whenever her and W brought me up J would liten and one time dropped his books even, and when I walked by him he'd stop and look. What is his problem? Does he like me or not? more

Resolved Question: What are the benefits of a lower income tax?

I'm in a debate argument and I'm supporting supply side economics and Reaganomics and a lot of other more conservative economic practices. Since conservatives and Republicans advocate for a lower federal income tax and lower capital gains tax, I was wondering if someone could tell me any reasons why these would be better than having higher taxes. more

Resolved Question: for every £1 earned in the UK, how much goes to tax?

Resolved Question: what are the taxloopholes that the super rich and mega corporations get away with?

what are the ways that its not fair to the regular american worker [middle class working poor, and even the pretty well off] more

Resolved Question: I need some quick Economics help! anyone please?

1. Which of the following accurately describes how an investment is made? (Points : 2) Putting money into an asset Selling labor for wages Selling shares in a public corporation Turning commodity money into fiat money 2. Which of the following accurately describes a capital gain? (Points : 2) An increase in the value of an investment An upward trend in prices A rise in the standard of living The difference between costs and revenues 3. Which of the following most accurately states one of the risks of being a stockholder? (Points : 2) Stockholders can go deeply into debt if the company goes into debt. Stockholders don't get any voice in the running of the company. Stockholders must pay all of their dividends to the government. Stockholders aren't guaranteed a return on their investment. 4. Which of the following is one of the requirements that a company must meet when it begins to sell shares in a stock market? (Points : 2) The company must first pay off all of its creditors. The company must disclose details about its finances. The company must pay a tax on each share sold. The company must hire more lawyers. 5. Which of the following accurately describes how market capitalization is determined? (Points : 2) The number of shares is multiplied by the price of each share The annual profits are divided among all stockholders The total value of all of the company's assets is calculated The trading volume of a stock is divided by the number of shareholders 6. Match each term below with its correct definition. (Points : 2) Potential Matches: 1 : A general upward trend in stock prices. 2 : A general downward trend in stock prices. 3 : A major decrease in stock prices. Answer : A crash : Bear market : Bull market 7. Which of the following accurately describes what makes a full-service broker full-service? (Points : 2) Full-service brokers work for both investors and companies seeking investors Full-service brokers can buy and sell in both primary and secondary markets Full-service brokers provide advice in addition to buying and selling stocks Full-service brokers help their clients manage the operations of the companies they own 8. Which of the following statements best describes how investors behave when engaged in socially responsible investing? (Points : 2) They give a large percentage of their earnings to charities They invest in companies with a business model and social mission that they support They attempt to maximize profits for society instead of for individuals They vote for a board of directors that will behave legally and ethically 9. A ______ market is when there's a rise or expected rise in stock prices across the entire stock market. (Points : 2) 10. Which kind of stock market analysis focuses on overall trends in the market? (Points : 2) Fundamental analysis Marginal analysis Cost-benefit analysis Technical analysis more

Resolved Question: whats the better way to invest $50k?

i still have over 100k in capital losses from previous years. And i have unused RRSP or 401k space to put the 50k. Should i max out the RRSP / 401k and put it there, or should i use the 50k to invest outside the plan since any gains up to $100k are tax free? My broker says put it in RRSP, but those capital losses will go to waste, so i am not sure more

Resolved Question: Corporations, investors, and others who can skirt the laws, change their Ordinary income in to Capital Gains ?

To avoid paying taxes. So can the average Middle Class tax payer do this. If not why can they? more

Resolved Question: Does anyone know how much of our yearly spendin we could pay off by seizing all the assets ofevery fortune 500?

Company and the assets of every household that earns over $250 k a year? How much could we pay off our yearly $3.9 trillion dollar spending or how many years would that pay for or spending? more

Resolved Question: Is this just the begining of the downward spiral of Obamacare?

Obama admin winds down plan for 'uninsurables' http://news.yahoo.com/obama-admin-winds-down-plan-uninsurables-223959594--politics.html more

Resolved Question: Am I using the term 'sole trader' correctly?

It's confusing to me because I keep thinking it's referring to a person but it refers to a type of business. I'm wondering if the following titles make sense: What is a sole trader Examples of a sole trader Advantages of sole trade thanks more

Resolved Question: Is spending the problem or is deficit spending the problem? Why not raise revenue?

Simple. Easy. Solved. more

Voting Question: I believe higher tax rates would be good for employment and growth, am I wrong?

Higher tax rates on businesses will cause them to spend and expand more as opposed to taking profit and investing in productivity increases which applies downward pressure on the labor market. Higher taxes on capital gains and dividends will also encourage corporations to spend and grow to show long term strength to attract investment as opposed to near term profit and performance. Am I wrong? How? All I want is what's best for America? more

Resolved Question: when did bill gates make his contribution?

it is about computers. more

Resolved Question: Social security cards for Nathan Wheeler, Phoebe Wheeler, and Matthew Wheeler • Completed intake and interview?

Social security cards for Nathan Wheeler, Phoebe Wheeler, and Matthew Wheeler • Completed intake and interview sheet • Forms 1099-R forNathan and Phoebe Consolidate brokerage statement Nathan and Phoebe want to file a joint tax return Nathan retired and stared receiving his pension of $2000 per month in March 2011 Nathan pension plan is a qualified plan and he received benefits under a joint and survivor annuity ,to be paid over the joint lives on Nathan and phoebe Nathan contributed $ 18000 to the plan and did not receive any distribution before his annuity starting date Phoebe receives disability payment for her former employer. Phoebe has not yet reached the minimum retirement age for the employer Nathan won $ 2500 at a poker tournament .He calculated his losses through the year as $ 2100.No Form W-2G was issued. Nathan and Phoebe received a K-1 from a S corporation reporting interest income They sold some stock in 2011. They brought the consolidated broker statement Nathan and Phoebe brought a copy of their 2010 tax return to show you they have a long term capital loss carryover of $375 Nathan and Phoebe will not itemize for 2011 The Wheelers have never had EIC disallowed 9. the sale of ABC stock is a. Not reported on the tax return b. a capital gain distribution c. a long-term transaction d. a short-term transaction 11.The disability income from Phebe form 1099-r should be reported as pension income on form 1040 line 16 b TRUE /FALSE 13.What amount of earned income if any is used to compute the Whellers EIC $_ 14.How much of the $20000 gross distribution reported on Nathan form 1099 –r taxable in 2011 a.$19308 b.$19400 c. $19500 d.$ 20000 15.what should Nathan report as gambling income on Form 1040 line 21 a.400 b.2100 c.2500 d.Nothing because no form w/2g was issued more

Resolved Question: Conversion from C Corp to S Corp?

My wife and I own a C Corporation. Each of us owns 50% of the shares and are the only employees of the corporation. We formed the corporation in 2000 with the view of eventually establishing a software outsourcing business. To that end my wife and I started working as employees of our corporation providing contract services in various Finance and Healthcare companies. However in 2003 I found it difficulat to find satisfactory contracting opportunities, so I started working as a full time at employee of one of our client. For the same reason, my wife did the same last year. As a result this year the corporation has negligible revenue. It has about one hundred thousand dollars in retained earning. All of the retained earnings are in money market accounts earning very little by way of dividends. Now we are planning to start a medical software service business initially concentrating on billing and transcibing areas.We anticipate that the software development and data entry work will be done in India. I am planning to quit my current job and work full time on business development. My wife will continue her job earning about 90K. I expect the corporation to incurr significant expenses for travel to India and potential clients in US. As a result the corporation is expected to show a loss over the next 2 or 3 years. Does is make sense to convert the C Corporation into S corporation so that corporation's loss can be deducted from our personal income? Will there be any issues with respect to the 100K in the C Corporation's retained earnings? As mentioned above the retained earnings are in cash and there are no capital gains. Thanks for your help. more

Resolved Question: The wealth concentrated at the top simply must be cycled back down to the bottom half? How?

How best do we do that? Please don't BS and say that its not a problem. Serious question. more

Resolved Question: Equal taxation for all peoples?

Libs and cons both: Would you vote on a bill that proposed equal percentage taxation. Let's say the tax on income were x, then regardless of how much you make, you would pay x% of your income. This way no one is paying more or less than what they can pay and everyone is paying equally to what they're making. This also takes care of the tax brackets in which you could have a family scrapping by month from month paying the same taxes as a well off, upper middle class family Would this be a plausible solution?Anonymous so you essentially want everybody to make the same amount of money. You are not helping the reputation of libs on Y/A more

Resolved Question: Who are the real takers?

Paul Ryan calls people who rely on the social safety net "takers" and he says it is 30% of the population. According to him, people who pay into Social Security and Medicare, students who borrow money so they can go to school, veterans who receive VA benefits, and workers who collect unemployment compensation are "takers." "The commitments we make to each other -- through Medicare, and Medicaid, and Social Security -- these things do not sap our initiative; they strengthen us. They do not make us a nation of takers; they free us to take the risks that make this country great," he (Obama) said. On the other hand, corporations that pay no income taxes at all, the banks and bankers who have been heavily subsidized by both TARP and the Federal Reserve, and hedge fund operators who pay taxes at a lower rate than people who actually work, are "makers." Exactly what hedge funds and banks make is unlear, but that's what he calls them. Somehow we're supposed to believe that 98% of Americans should pay 6.% (12.4% for small business owners) of their income in Social Security taxes, yet when they draw on this at retirement time they have become "takers." At the same time, hedge fund operators and CEOs of major corporations take in millions of dollars in salaries and bonuses and pay only a tiny fraction of that in taxes, yet they aren't takers. When the Koch brothers, Mitt Romney, the Walden family, John Kerry, Bill Gates, and Warren Buffet (et. al.) take in millions or billions from dividend and interest income, they pay only 20% of it in taxes (under the new law--it was 15% until the beginning of this month) yet they aren't "takers." The President was right to call out Mr. Ryan and the rest of the autocracy. more

Resolved Question: What taxes to pay if you're a Canadian citizen owning a US LLC?

If a Canadian citizen owns 50% of a US LLC, what taxes will he pay (in US and Canada) in terms of income tax and long-term capital gains tax? Will it be better if they treat their company as a corporation or as a partnership from the start? Additional info: the LLC will be based in California.Thank you for those helpful answers Joseph and Max Hoopla.In this case, is he still going to be taxed in Canada?If that is the case, is there any way he could avoid being double taxed (in Canada and US). more

Resolved Question: Does my off-shore business pay any UK taxes?

1.) If I open a business in say the Seychelles. But all of its customers are in the UK. Does the off-shore business have to pay any UK taxes? Corporation, Income, Capital Gains, VAT? 2.) If the off-shore business purchases a UK property will it incur any UK taxes, charges? 3.) If the business then allowed me to stay at the property rent free would I be deemed to be receiving some sort of taxable benefit?@ Jo W - my questions are similar but different enough to worthy of a response not a rebuttal.Why does anyone open an off-shore business then?What if I rent the property for £1 per week? more

Resolved Question: Non Resident UK Tax on Rental income?

I plan to buy a property in the UK to rent as a business space.I am not a UK resident and not an EU resident.My wife is also not a UK resident but she is an EU resident. My questions : 1 Would I have to pay tax on my rent income in the UK to the UK taxman? 2 If I have to pay the tax -what the reat would be? 3 Would it be better (tax wise) to have the building in my name (non EU resident) or my wife's name(EU resident)? 4 Would it be better to buy the building through a non uk company EU based or European but non EU based-eg Swiss,Andorran? 5 What about scenario of my wife becoming non domiciled resident in the UK? Thank you in advance. more

Resolved Question: What does an S-Corp do for taxation (Why choose it?)?

Does it have characteristics of pass-thru taxation? Do profits directly pass-thru every year like salary? I'm in finance for a C-Corp, and just am not that versed in the tax code. So, like I said, my question is why choose S- over C-? more

Resolved Question: I'm Canadian and want to buy property in Phoenix?

the homes are so cheap, I can get a house with a pool there for less than $80,000. Any reasons why I should not do this? more

Resolved Question: Please help!! Macroeconomics Question?

Discuss the current US Federal Tax system (in objective terms) and compare US Federal Tax rates to other countries (select several countries to discuss). Is the US Tax Rate competitive? more

Resolved Question: Can someone explain the results I got from Y!A users?

I asked (directing the questions to Democrats in particular:) 1) How high taxes should be on wages and self-employment. NO ONE said they should be as high as they ALREADY ARE - but some Democrats said they should GO UP to a LOWER rate. 2) How high "corporate" taxes should be. NO ONE said they should be as high as they ALREADY ARE - but some Democrats said they should GO UP to a LOWER rate. 3) How high "capital gains" and dividend taxes should be. Only one person said they should EXIST AT ALL - but Democrats petty-much universally say they should GO UP to a LOWER rate. I guess the core question is "Do any Democrats actually grasp reality?" They're seriously telling me rates should be RAISED to a point LOWER than they already are and some told me capital gains/dividend taxes DON'T EXIST; and SHOULD NOT exist but should be higher. Any explanations?Common thread, Darcy - they tell me we need to RAISE rates to make them LOWER. How does that mean I'm detached from reality and not them?I think "how much of each $100 should you have to send to D.C.?" is pretty clear. Again, the common answer was that the rate is already too high and SHOULD BE higher."Tax rates need to go up" is a great filter since NO Republican believes that. Those answers were from Democrats. No doubt. more

Resolved Question: What percentage is "fair share" of taxes? 60% 70% 100%?

At what tax rate do you Libs want from people? Dont say "corporations dont pay". Your homeboy in office is now stealing from all of us. What % do yall want for yourselves? more

Resolved Question: Will corporations just move to tax havens?

With climing taxes on the rich in the United States, will the owners of corporations move their companies to tax havens such as Dubai or Singapore? Why shouldn't they? more

Resolved Question: Why are Republicans so worried the taxes go up on the rich, Cant they afford it,Or can you afford yours up?

You mean to tell me you deny we did better under Clinton when they paid 39% ? Is that what you deny? 23 millions jobs created. Do you deny that too? more

Resolved Question: Do I have to file my taxes?

OK so I have not worked anywhere this year at all and I was just wondering do I still have to file my taxes? I have heard a few different stories such as one person never filed because they did not work for that year and never got in trouble but another person told me that I still had to file or else I would get into some form of trouble with the IRS wouldn't the IRS know that I have not worked at all this year? more

Resolved Question: Where do you stand on the political issues?

I'm a proud, down-the-line conservative. I believe the best recipe for an ailing economy is to give people more of their own money. I believe that we should drill for oil here and build pipelines here rather than import oil from terrorist countries. I believe that a cap-and-trade energy tax is unfair to families. I believe that environmental extremists who want to force veganism and radicalism down are throats are little more than domestic terrorists who want to destroy our lives. I believe that the government should only spend its money on things that hardworking people couldn't do for themselves- that is, a military, a very limited safety net for only those who need it, and little else. I believe that taxing corporations and capital gains is fundamentally wrong and discourages the entrepreneurial spirit. I believe that human life must be protected at all stages of life as a basic obligation of government. Abortion should never be allowed except to save the mother's life, as the child never deserves to die without a trial for someone else's mistakes. But I believe we need to greatly extend and expedite the death penalty for felons because there's no right way to do a wrong thing and the government must send a clear message to those who want to break the law. Legal immigration made this country great, but illegal immigration lowers wages and hurts workers, not to mention promotes crime. It's time to secure our borders and say no to amnesty, because no one should ever be rewarded for breaking the law. I believe that homosexuality leads to society's decline and gay marriage should not be forced on a population. I believe that our military is weak and degraded due to liberal policies and needs to be strengthened-after all, defense is actually a legitimate function of government, unlike all the other garbage we waste money on. I believe that welfare, social security, Medicare, and Medicaid are all failed government programs intended to turn this country toward socialism. We must get rid of welfare and Medicaid for people who don't want to work/are too lazy, and phase out the other programs over time. more

Resolved Question: Based on the following income statement and balance sheet for Rashid Corporation.?

prepare the operating activities section of a statement of cash flows. Use the indirect method. See Exhibit 12.9. Rashid Corporation Income Statement For the Year Ended December 31, 2010 Sales $ 504,000 Cost of goods sold $ 327,600 Depreciation 42,000 Other Operating expenses 125,500 (495,100) Other gains (losses): Gain on sale of equipment 7,200 Income before taxes $ 16,100 Income tax expense (4,800) Net income $ 11,300 (Balance sheets on next page) Rashid Corporation Balance Sheets At December 31 2010 2009 Assets Cash $ 64,650 $ 55,800 Accounts receivable 21,000 29,000 Inventory 58,000 52,100 Equipment 240,000 222,000 Accumulated Depreciation (106,000) (96,000) Total assets $277,650 $262,900 Liabilities Accounts payable $ 28,400 $ 23,700 Income taxes payable 1,050 1,200 Total liabilities $ 29,450 $ 24,900 Equity Common stock $ 106,000 $ 106,000 Contributed capital in excess of par value 18,000 18,000 Retained earnings 124,200 114,000 Total equity $ 248,200 $ 238,000 Total liabilities and equity $ 277,650 $ 262,900 more

Resolved Question: Which of the following is not characteristic of a corporation?

40. Which of the following is not characteristic of a corporation? A) The financial loss that a stockholder may suffer from owning stock in a public company is limited. B) A corporation can own property in its name. C) Corporations are required to file federal income tax returns. D) Cash dividends paid by a corporation are deductible as expenses by the corporation. 41. The term applied to the amount of cost to transfer to expense resulting from a decline in the utility of intangible assets is A) amortization B) depletion C) depreciation D) allocation 42. Accumulated Depreciation A) is used to show the amount of cost expiration of natural resources B) is a contra asset account C) is the same as Depreciation Expense D) is used to show the amount of cost expiration of intangibles 43. All leases are classified as either A) long-term leases or current leases B) operating leases or current leases C) capital leases or operating leases D) capital leases or long-term leases 44. On December 31, Strike Company has decided to sell one of its batting cages. The initial cost of the equipment was $215,000 with an accumulated depreciation of $185,000. Depreciation has been taken up to the end of the year. The company found a company that is willing to buy the equipment for $20,000. What is the amount of the gain or loss on this transaction? A) No gain or loss B) Loss of $10,000 C) Cannot be determined D) Gain of $20,000 45. A machine with a cost of $80,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 15,000 hours. It is to be depreciated by the units-of-production method. What is the amount of depreciation for the second full year, during which the machine was used 5,000 hours? A) $5,000 B) $15,000 C) $25,000 D) $26,667 46. A fixed asset with a cost of $41,000 and accumulated depreciation of $36,000 is traded for a similar asset priced at $50,000. Assuming a trade-in allowance of $4,000, the cost basis of the new asset is A) $51,000 B) $50,000 C) $45,000 D) $54,000 47. Computer equipment was acquired at the beginning of the year at a cost of $65,000 that has an estimated residual value of $3,000 and an estimated useful life of 5 years. Determine the 2nd year’s depreciation using straight-line depreciation. A) $12,400 B) $24,800 C) $26,000 D) $13,000 48. A disadvantage of the corporate form of business entity is A) corporations are subject to more governmental regulations B) mutual agency for stockholders C) the ease of transfer of ownership D) unlimited liability for stockholders 49. All of the following below are needed for the calculation of straight-line depreciation except A) cost B) estimated life C) residual value D) units produced more

Resolved Question: What exactly is a fiscal cliff?

Resolved Question: If we eliminated all deductions except for Mortgage Interest and Charity, then imposed an income tax?

at 3 levels, under 200% of poverty level pays no taxes, over 200% of poverty level to $250k 10%, over $250k 15%, would this be fair? (Corporate taxes 15%, Capital Gains 15%)@sadmitt, this question is not about knowledge of tax rates it is about making things "fair" when it comes to taxes. BTW--I actually know what I am talking about. I am an accountant by trade, corporate CFO. From the answers you have given to my questions, I can tell you are a follower who doesn't think for himself. more

Resolved Question: My Personal Bet on Obama and America - good move or not?

I did it - not really going to take advise I get on YA! afterall. I personally see the economy about to take off - housing is appreciating personal debt is down corporations are sitting on MOUNTAINS of cash and can deploy quickly I stare at numbers not doom and gloom OK I was almost 100% in Vanguard high Dividend ETF - it doubled in 4 years and it paid about 20% total dividend on original investment during the 4 years; I had gone to 100% cash in July 2008 - not as smart as brother that bought puts on Countrywide - but better than taking the Bush meltdown in the shorts. I did not buy the ETF until Obama was elected in 08 and it was sortof a whimpy bet actually - a dividend fund. Now , what the heck - lock in lower capital gains tax before they go up; so I sold. So I went aggressive - saved about 30% of proceeds into cash - I want to buy condo shortly and will do that locking in fixed < 3% loan. Need reserves and down payment for mortgage. the remainder deployed about 70% USA ; 30% international (7 funds USA; 3 international equal amounts) the USA portion pretty aggressive mutal funds (no gold or nonsense like that) in funds like Fidelity Small Cap Discovery Fund (FSCRX) and Spartan Extended Market etc. First four years betting on Obama was a good one; my timeline is long So four years from now will I (still) be a happy camper??? BQ: If you bet against Obama four years ago and saw that market doubled - how do you feel????@rayhere there is talk of raising the capital gains rate - so by lock in - pay less taxes by selling in '12 not '13Forbes Mag Oct 26 '12Tax gain selling In most years, taxpayers engage in “tax loss selling” to prune their portfolio of losing positions and lower capital gains taxes. This year, consider the reverse — “tax gain selling.” Instead of avoiding wash sales, maybe wash sales can be your friend by accelerating income into this year and deferring losses until next year. more

Voting Question: Did you know the 15% capital gains tax is in addition to the corporate tax already paid on the same profit.?

hypothetically I own a corporation. It earned 500,000 in profit this year. The tax rate is about 35% for corporations. The company pays $175,000 in taxes and keeps $325,000..... Then, as owner of the company, I get that $325 K and have to pay 15% in capital gains tax . I pay about $49 K more keeping 276 K. I and my company have paid about 45% in taxes. Who do people think that this 15% is the only part of the story?Hondo..... stock holders are the owners of a corporation. more

Resolved Question: Is there a dble tax if my Cdn corp is taxed on reg income in the US, then corp tx in canada, then on personal?

I have corporate income that is taxed at regular rates (all income from corp is subject to regular income tax bracket vs capital gain rate), then I have to file my corporate taxes in canada. I do get to claim a credit for taxes paid, but my net outlay is still the top tax rate in the US. Do I pay another layer of taxes for personal when I divident myself out?So to extend the example below. If the income is investment, then I would pay the following on $1 of income (if its in a corporation$1 Revenueless $0.35 (approx highest US marginal tax rate for corporation)less $0.195 (capital gains tax - Canada)add $0.195 (credit for taxes paid in US)less $.1929 (personal dividend tax rate)Net tax $0.3579 approximately? more

Resolved Question: Why SHOULDN'T the rich pay more taxes than everyone else?

Resolved Question: Why don't liberals understand that we need to keep taxes for the rich down to create jobs?

Some liberal posted a question on here complaining that jobs creators such as Mitt Romney pay a lower tax rate than most of the middle class. You may already know that for the rich, most income comes from capital gains, and that capital gains have a top tax rate of 15%. You probably also know the middle class pays a rate up to twice that high on money they work for. The reason why we need to keep capital gains taxes low is because it will motivate the jobs creators to invest and create lots of jobs. If the capital gains rate doesn't stay as low at 15% then the rich will stop investing in stocks and other capital investments, and stop creating jobs. Many Tea Party leaders want to get rid of the capital gains tax altogether. That would lead us on a path to unimaginable prosperity, even more so than Bush's tax cuts for the jobs creators did. more

Resolved Question: Where do you stand on the political issues?

I'm a proud, down-the-line conservative. I believe the best recipe for an ailing economy is to give people more of their own money. I believe that we should drill for oil here and build pipelines here rather than import oil from terrorist countries. I believe that a cap-and-trade energy tax is unfair to families. I believe that environmental extremists who want to force veganism and radicalism down are throats are little more than domestic terrorists who want to destroy our lives. I believe that the government should only spend its money on things that hardworking people couldn't do for themselves- that is, a military, a very limited safety net for only those who need it, and little else. I believe that taxing corporations and capital gains is fundamentally wrong and discourages the entrepreneurial spirit. I believe that human life must be protected at all stages of life as a basic obligation of government. Abortion should never be allowed except to save the mother's life, as the child never deserves to die without a trial for someone else's mistakes. But I believe we need to greatly extend and expedite the death penalty for felons because there's no right way to do a wrong thing and the government must send a clear message to those who want to break the law. I believe that homosexuality leads to society's decline and gay marriage should not be forced on a population. I believe that our military is weak and degraded due to liberal policies and needs to be strengthened-after all, defense is actually a legitimate function of government, unlike all the other garbage we waste money on. I believe that welfare, social security, Medicare, and Medicaid are all failed government programs intended to turn this country toward socialism. We must get rid of welfare and Medicaid for people who don't want to work/are too lazy, and phase out the other programs over time. more

Voting Question: Accounting Homework Help!!! True or False?

True or False 1.The quality of earnings is an indication of the sustainability of earnings into future accounting periods. 2.Extraordinary gains and losses are a component of income from operations. 3.Corporate income statements must be prepared in multistep form. 4.Deferred Income Taxes is classified as an asset when it has a debit balance. 5.The income statement's bottom-line figure (net income or loss) must be shown "net of tax." 6.The results of discontinued operations are excluded from operating income on the income statement. 7.A business with a simple capital structure would present only basic earnings per share information in its financial statements. 8.A convertible bond is a potentially dilutive security. 9.A stock dividend is a pro rata distribution of cash to a corporation's stockholders. 10.A stock dividend will cause an increase in the total number of shares issued and outstanding. 11.When common stock is originally issued, its market value per share should approximate its par or stated value per share. more

Resolved Question: Non UK Citizen Profit Tax?

Hi, I am from Hong Kong, a non UK citizen. Before the end of this year, I will be planning to open a forex account in a company located in UK. The staff of the company told me that they are not going to report the profit I gain to UK authorities, and it will be up to my choice to report my profits or not. Just in case if I gain lots of profit and send a large sum of money back to Hong Kong, do I need to pay both taxes for the UK and HK government? If the answer is yes, how much tax will I have to pay to the UK government? Last but not least, do I pay a lot less tax if I am a non-resident UK citizen? Much Much Appreciate if you will kindly be willing to help. more

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Corporation Capital Gains Tax Answers

Open Question: "Income Taxed by Indiana".. Column B on the shedule A?

Open Question: Wouldn't the abolition of the corporate tax, capital gains tax and all regulations that do anything...?

Resolved Question: If you have a capital loss from a limited partnership's schedule K-1, should you also receive a form 8949?

Voting Question: In what ways has the conservative movement convinced so many uneducated whites to vote contrary to their?

Resolved Question: How can the rich pay 70% of the taxes when only 45% of federal revenue comes from personal income taxes?

Resolved Question: Should the "income tax" be replaced with a "wealth tax" to make sure all corporations pay?

Resolved Question: What was he trying to say? (Ill answer yours)?

Resolved Question: Does this dude like me......?

Resolved Question: What are the benefits of a lower income tax?

Resolved Question: for every £1 earned in the UK, how much goes to tax?

Resolved Question: what are the taxloopholes that the super rich and mega corporations get away with?

Resolved Question: I need some quick Economics help! anyone please?

Resolved Question: whats the better way to invest $50k?

Resolved Question: Corporations, investors, and others who can skirt the laws, change their Ordinary income in to Capital Gains ?

Resolved Question: Does anyone know how much of our yearly spendin we could pay off by seizing all the assets ofevery fortune 500?

Resolved Question: Is this just the begining of the downward spiral of Obamacare?

Resolved Question: Am I using the term 'sole trader' correctly?

Resolved Question: Is spending the problem or is deficit spending the problem? Why not raise revenue?

Voting Question: I believe higher tax rates would be good for employment and growth, am I wrong?

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Resolved Question: Social security cards for Nathan Wheeler, Phoebe Wheeler, and Matthew Wheeler • Completed intake and interview?

Resolved Question: Conversion from C Corp to S Corp?

Resolved Question: The wealth concentrated at the top simply must be cycled back down to the bottom half? How?

Resolved Question: Equal taxation for all peoples?

Resolved Question: Who are the real takers?

Resolved Question: What taxes to pay if you're a Canadian citizen owning a US LLC?

Resolved Question: Does my off-shore business pay any UK taxes?

Resolved Question: Non Resident UK Tax on Rental income?

Resolved Question: What does an S-Corp do for taxation (Why choose it?)?

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Resolved Question: What percentage is "fair share" of taxes? 60% 70% 100%?

Resolved Question: Will corporations just move to tax havens?

Resolved Question: Why are Republicans so worried the taxes go up on the rich, Cant they afford it,Or can you afford yours up?

Resolved Question: Do I have to file my taxes?

Resolved Question: Where do you stand on the political issues?

Resolved Question: Based on the following income statement and balance sheet for Rashid Corporation.?

Resolved Question: Which of the following is not characteristic of a corporation?

Resolved Question: What exactly is a fiscal cliff?

Resolved Question: If we eliminated all deductions except for Mortgage Interest and Charity, then imposed an income tax?

Resolved Question: My Personal Bet on Obama and America - good move or not?

Voting Question: Did you know the 15% capital gains tax is in addition to the corporate tax already paid on the same profit.?

Resolved Question: Is there a dble tax if my Cdn corp is taxed on reg income in the US, then corp tx in canada, then on personal?

Resolved Question: Why SHOULDN'T the rich pay more taxes than everyone else?

Resolved Question: Why don't liberals understand that we need to keep taxes for the rich down to create jobs?

Resolved Question: Where do you stand on the political issues?