Acc 307 Tax Research Problem 1 free essay sample

Running Head: RESEARCH PROBLEM 1 Research Problem 1 ACC 307 February 24, 2010 Deduction interest has been an arguable topic since 1913. The four types of allowed qualified interest are as followed. a) Interest on Qualified Student Loans b) Investment Interest c) Qualified Residence Interest (home mortgage) d) Business Interest Interest on Qualified Student Loans Interest on qualified student loan can deduct the interest as a deduction for AGI. This deduction is permitted if the money borrowed was used to finance qualified education expense. In order to deduct the interest on Qualified Student Loan the money must have been paid qualified education expense. The maximum deduction is $2,500 and is phased out for taxpayers with modified AGI in excess of certain amounts. The deduction is not allowed for taxpayers who are claimed as dependents or for married taxpayers filing separately (Willis, Maloney, Raabe, Young, 2010 page 10-14). Investment Interest The course of action a Taxpayer must take to be able to deduct Investment Interest is that he or she borrows funds to acquire investment assets. We will write a custom essay sample on Acc 307 Tax Research Problem 1 or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Therefore, a significant tax benefit can occur, when the interest expense is high in comparative to the income from the investment. â€Å"However, Congress has limited the deductibility of interest on funds borrowed for the purpose of purchasing or continuing to hold investment property† (Willis, Maloney, Raabe, Young, 2010) page 11-25 Qualified Residence Interest (home mortgage) What is Qualified Residence Interest? And what are the categories under Qualified Residence Interest? Qualified residence interest is interest paid or accrued on indebtedness (subject to limitations) secured by a qualified residence of the taxpayer. (Willis, Maloney, Raabe, Young, 2010) pg10-15. The two categoriez under Qalified Residence Interest are interest on acquisition indebtedness and interest on home equity loans. The qualified residence is the principal residence of tax payer and one additional residence of tax payer or spouse. Qualified interest is completely deductible. However, Interested paid or accrued in the same tax year on aggregate acquisition indebtedness of $1 million or less ($500,000 for married persons filling separate returns). Home equity loan is like when tax a payer takes out personal loan as second mortgage using their home as a security. Since a home equity loan can be used for any personal use for which in that situation the interest would not be deductable the only way the interest is deductible is if the least of the residence fair market value, less the acquisition indebtedness or $100,00 ($50,000 for married filling persons filling separate returns). The Section of the IRS code that the IRS will use to support the case against Donald would be Section 163 Interest and Section 1041 Transfer of property between spouses or incident to divorce. Section 163(h)(1) General rule There shall be allowed as a deduction all interest paid or accrued within the taxable year on indebtedness. Section 1041(a) General rule- No gain or loss shall be recognized on a transfer of property from an individual to (or in trust for the benefit of) (1)    a spouse, or (2)    a former spouse, but only if the transfer is incident to the divorce. http://www. fourmilab. ch/ustax/www/t26-A-1-O-III-1041. html

Study of Religion Stud of Rituals Multimodal Presentation free essay sample

From its creation in the late 20th century the internet has become a part of our everyday lives. In Catholicism, Confession is a very important ritual for the forgiveness of sins. Now that society is evolving onto the online world, so are the rituals and practices of the Catholic Church. I believe an online Confession app has the authenticity of an offline one, but lacks the effectiveness of the sacrament as it was intended to be. In order to understand this opinion, you must recognise Smart’s 7 Dimensions, how Catholic Confession is conducted both online and off, the benefits and disadvantages of using either the online or offline version, and the authenticity and effectiveness. The Catholic Confession in an offline form has a particular way of course. At the beginning of the Confession the participant enters the Confession booth in which the priest is sitting on the other side of a wall ready to listen. We will write a custom essay sample on Study of Religion Stud of Rituals Multimodal Presentation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The priest then asks the participant to say a prayer and then is asked to reflect over their previous sins. The priest then asks God to forgive the participant of their sins and gives the participant a penance – a form of working to get your sins forgiven. The participant is given several prayers to say, and once the prayers have been said, the participant is forgiven. Rather different to this, the online Confession App is conducted through an application on your iPhone or iPad. Instead of talking to a priest and telling them your sins, you simply sit there and go through a list of the 12 commandments, and tick all the sins that you have committed. This way you are not truly confessing your sins to another party, you are simply ticking a list and withholding the sins to yourself. By means of authenticity, the online complies with the standards of the offline version, although the effectiveness which the offline version contains is lacking. As an aid to help understand what a religion is comprised of, Ninian Smart, a Scottish writer and university educator, came up with 7 features which would define what a religion should include. These 7 features include the Doctrinal and Philosophical Dimension, Narrative or Mythological Dimension, the Ethical and Legal Dimension, the Practical and Ritual Dimension, the Experiential and Emotional Dimension, the Social and Institutional Dimension and the Material Dimension. These dimensions collaborate with each other to form the basis on which a ritual lies. In the Catholic sacrament of confession, these dimensions all play an important part which contributes to the outcome of the ritual. The Doctrinal and Philosophical dimension describes the dimension which incorporates the intellectual components of religions. The Narrative or Mythological dimension is the dimension which makes up the stories of religions, for example the story of creation or dreamtime stories. The Ethical and Legal dimension concerns what is good and bad, and what you must do if you do something against the religion. The Practical and Ritual dimension is what the adherents of a religion do as a part of the religion, such as prayer and ritual. The Experiential and Emotional dimension focuses on the subjective and emotional side of the religion or what happens on the inside. The Social and Institutional side of the religion is how people’s interactions are planned within the religion. The final dimension, Material, is the physical forms of the religion, such as a church or a statue. Although these 7 dimensions aid the process of determining whether or not an action is a ritual, confession is already known as a ritual because it is one of Catholicism’s 7 Sacraments. To determine the authenticity of the Catholic Confession app, the advantages and disadvantages of each would need to be stated. The advantages of having the Catholic Confession app on your iPhone or iPad are the ease of access and portability. The app also makes it easy to understand what the participant of the confession should be reflecting upon in their lives, by providing an understanding of the types of sins which are in need of forgiveness. The disadvantages of the app include the lack of compliance with Smarts’ 7 dimensions, the ability to be easily distracted by other apps or interruptions, the lack of spiritual significance. The authenticity and effectiveness of the Catholic Confession app can be determined using Lovats or Van Genneps set of steps, and also Smarts’ 7 Dimensions. The sacrament of reconciliation can be easily identified as complying with Lovats set of steps for a ritual, although the same cannot be said for the iPhone version. For the entrance stage, the confession app has a login screen which users can log in on. There is not much preparation, however, because the user does not reflect upon their sins; they simply check boxes. There is no climax either, nor a celebration. The return is when the user logs off and continues ith their ordinary life. To determine whether or not the Confession App for iPhone was an effective and legitimate alternative to the communal alternative, an interview was conducted with Clairvaux MacKillop College campus minister, Miss Stadhams. In this interview, Miss Stadhams states that the app could not replace confession in the church, but could help to guide people and add value to the sacrament. She also states that the Confession app is confessing in a very private manner which isn’t what a sacrament is meant to be. A sacrament is meant to be celebrated in a community, not privately. From taking these facts and opinions into account I believe that the confession app for iPhone does not meet the standards of confession inside the church, and that it should not be used as an alternative. Thank you for listening.

Great Gatsby Essays (653 words) - The Great Gatsby,

Great Gatsby The more things change, the more they stay the same "The Times They are a-Changin, or so 60's singer/songwriter Bob Dylan thought. But have we really matured enough as people to say that racism and prejudice are no longer words in the English vocabulary? Most people like to think so, but the facts paint a different picture. The novel, The Great Gatsby, by F. Scott Fitzgerald can be used to illustrate these points. In the mid-20's, when American author F. Scott Fitzgerald wrote The Great Gatsby, it was common to use words to describe African American people that today would be seen as offensive and degrading. Mainly the sole purpose of using such words were to depict African Americans as objects, not human beings. When Nick describes the "two Bucks" and a Negro girl passing them in a horse-drawn carriage with a white chauffeur he thinks to himself "Anything can happen now that we've slid over this bridge anything at all" This shows how people in Fitzgerald's time reacted to free black families. Nick describes the black males as "Bucks" because that's the name people used when they auctioned them off as slaves. He couldn't just refer to them as "men" or "gentlemen" because it was inappropriate to give blacks a high status. Throughout the novel discussing the downfall of the white race is a common topic. Tom and Daisy share thoughts about the downfall over dinner and Tom states that "If we don't look out the white race will be-will be utterly submerged," and Daisy follows that comment up with "We've got to beat them (minorities) down." Because nobody looks the same and because people fear anything different, they had no choice but to fear minorities. If you were not wealthy and white, you were feared. But racism wasn't the only degrading thing in the book; characters spoke condescendingly about people's financial status as well. If you lived in East Egg, you were wealthy and glamorous. If you lived in West Egg, you were well off but not nearly as wealthy as the people in East Egg. And because Nick lived in West Egg, Tom thought of himself as the better man. "Just because I'm stronger and more of a man than you are," declares Tom to Nick about his overrated ego. It wasn't only Nick who was the "outsider", Gatsby was as well. If Gatsby would've been rich in the beginning of his life, Daisy would have married him instead of Tom, and Daisy proudly admitted that to Gatsby, but sobbed when she had to tell Tom. And now here we are in the late 90's and times are still pretty much the same. People still think they are better than you are if they are richer or are a different race. A recent article in the Sacramento Bee on Ex-Ku Klux Klan leader David Duke states facts that show we really haven't changed. Duke, who is running for U.S. Congress states proudly he will be "the first to stand up openly and proudly" to defend the rights of Christian whites. He and Edward Fields read a 30-minute speech blaming Jews and Israel for the ills of the world. They also stated that American culture is overly influenced by African Americans and other minorities and that that should come to an end. Duke ended his speech by saying, "If we lose European Americans, we lose America." How can this be any different than Tom's? "If we don't look out the white race will be-will be utterly submerged." It was scary for me to see how similar Duke's quote and the comment made by Tom in Fitzgerald's story are so similar after 70 something years. I guess that really does show that even after all of these years, we still have not changed. I think rapper Tupac Shakur said it best when he said, "It's time for us as the people to start making some changes. Let's change the way we eat, let's change the way we live, and let's change the way we treat each other. Because it's up to us as the people to survive."

Electrolysis essays

Electrolysis essays The investigation I am conducting is to find out how much copper is attracted to the cathode from passing electricity through copper sulphate solution through an experiment called Electrolysis. When the power pack is turned on electrons pass through the circuit and through the electrodes at the cathode, because the copper sulphate solution becomes ionized; that is, their molecules become dissociated into positively and negatively charged components, which have the property of conducting an electric current, the positively ions in the solution move toward the negative electrode and the negative ions towards the positive. When reaching the electrodes, the ions may gain or lose electrons turning them into neutral atoms or molecules. The positive copper ions and Hydrogen ions will be attracted toward the negative electrode (cathode), the copper ions discharge to form metallic copper whereas the Hydrogen ions will stay in the solution as the copper ions release their electrons more readil y than the Hydrogen ions. The Sulphate and Hydroxyl ions are attracted to the positive electrode (anode) but as the Hydroxyl ions release their electrons more readily than the Sulphate ions the Hydroxyl will get there first. The half-equations for the electrolysing of copper sulphate solution between two carbon electrodes are: - At the anode (+): 4OH (aq) 2H20(l) + 02(g) + 4e At the cathode (-): CU (aq) + 2e CU(s) In class prior to this experiment we have been studying Electrolysis on Copper Chloride solution, the results showed that the higher the voltage applied to the circuit the more copper had formed at the cathode. In the investigation we are looking at the cathode for our results, the Copper Chloride solution will have the same outcome as the Copper sulphate solution because the copper will always form on the cathode ahead of Hydrogen in both cases. In the investigation on Electrolysis I aim to find out if increasing the amoun...

Argumentative Research Essay Example | Topics and Well Written Essays - 1000 words

Argumentative Research - Essay Example You do not have any good memories of going out, watching a movie or playing on the rides. And you do not even have any bad memories. It is like you are dead (Polakov & Guillean, 195). The word â€Å"homelessness† started being heard after the 1980s in United States when a large number of people including women and children started appearing on the streets seeking emergency shelter. Economic downturn caused by the Great Depression in the 1930s resulted in a mass movement of people in search of jobs also causing homelessness to plunge. Homeless people include men, women, children, young, old, alcoholics, drug addicts, immigrants, native Americans, as well as people from other races, ethnicities, and religions. Although every homeless person faces different circumstances, however they all have one thing in common that they do not have any permanent dwelling (Gottfried, 10). The question is: what is its proper solution for homelessness? There are various factors contributing towar ds homelessness including lack of community based care, plummeting poverty, decreasing assistance, low income, and scarcity of affordable housing. Among other causes are poverty, domestic violence, conditions of the economy, health care costs and lack of services (Hombs, 34). After budget cuts, numerous sectors of society responded by providing food, shelter, services and so on. These also include religious groups, civic groups and other organizations. Most of the funding for the emergency shelter programs comes from federal funds. The demand for shelter by homeless people has increased incredibly. Because shelter is not always available where it is required, therefore this causes family members to separate. Many people believe that simply providing these homeless people with housing is not a long term solution. In most occasions homeless people look for help themselves. They live in inexpensive and inadequate hotels that provide them with poor living conditions. Lack of having a jo b also causes them to either live in poor conditions or to keep on moving to different places in search of food and accommodation. Many homeless people also forage for food and other useful materials by means of â€Å"dumpster diving†. They look for things that are disposed of by their original owners that may prove useful to them. The things found include electronics, appliances, scrap items, other house wares and also food. Legally, dumpster diving is not particularly prohibited however dumpster diving performed within the premises of a residence may get the dumpster diver into trouble. In order to help the homeless people, the government started a cash assistance program by providing them with money. Only those people are eligible to receive this cash assistance who have incomes less than the State’s minimum Aid to Families with Dependent Children (AFDC) (Hombs, 39). Among these who are eligible, cash assistance is provided for homeless people or families. The main aim of such cash programs is to provide homeless people with money to spend on other basic necessities apart from housing as housing itself consumes a big chunk of the income. Arguments against the cash aid programs say that such aids encourage people to relocate to states in hopes to receive higher payments and this relocation does not solve the problem of homelessness but leads to greater problems. But in order to discourage people from moving to the

Sexual Offence Case Study Example | Topics and Well Written Essays - 2750 words

Sexual Offence - Case Study Example It was held that the judge ruled that the evidence was inadmissible and the appellant was convicted on a majority verdict5. The appellant was consequently fined 50 and ordered to pay 100 for the fees of prosecution. He later appealed inter alia, that the judge's ruling was incorrect. On November 13, 1979, between the hours of 4:45 and 5 p.m., five officers of the law from the South East Area Vice Squad kept plain clothes observation on a public convenience store in Portsmouth6. For the duration of this time, the appellant, aged 22, entered and exited the shop on four occasions. Two times he followed two officers inside the restroom of the store where the plaintiff masturbated for approximately one minute near the urinal. Both officers reported that the appellant masturbated openly, noisily and violently and while staring at them for the duration of the episode7. The appellant was asked to leave the store and was then cautioned outside. The officers reported that the appellant stated that he had been satisfying his lust due to the fact that his girl friend was away. The officers reported that the appellant then denied that he was attempting to attract other men and explained that he felt the urge to masturbate as he passed the convenience store. The appellant cou ld neither explain the reason why he failed to go to his house nor why he had failed to use a stall. He conceded to the officers that his actions looked bad and he later repeated this defense at his trial8. The jury failed to reach a consensus at the appellant's first trial and on the re-trial, the appellant sought to tender comprehensive evidence regarding his heterosexual relationships with females in order to refute inferences from witnesses9. The appellant appealed via a certificate of the trial judge under section 1 (2) of the Criminal Appeal Act 196810. His appeal was based on terms of whether on a trial for persistently importuning for an immoral purpose, if evidence regarding the appellant's heterosexual disposition would be admissible. Also, if this is the case, whether this evidence should be limited to general evidence of reputation or whether it could include specific evidence regarding heterosexual relationships11. It was held that though a defendant would be able to call evidence to show that he did not commit the acts alleged against him, he is not allowed to call evidence that he was of a disposition that brings about the unlikelihood that he would have committed the offence charged12. Applying the case of Rowton (1865), the trial judge ruled as he did arguing that the construction of the type of evidence in the present case would have been inadmissible and undesirable, and in addition to this, the appeal would be dismissed13. History The appellant had originally been tried on March 31, 1980 and the present trial was a retrial. During the first trial, under his Honor Judge Brodrick, the appellant produced five bundles of documents described as love letters14. Included in the documents were images of the plaintiff with five girls. The images were taken in contexts to suggest that the plaintiff was on intimate terms with the girls. During the first trial, the appellant alluded to the fact that he had had sexual intercourse

Strategic Management Essay Example | Topics and Well Written Essays - 2000 words - 35

Strategic Management - Essay Example Bargaining power of the buyers or customers is also considered as an important factor affecting the operations of the hotel. The customers of Aber Gardens include the Leisure and Business travelers along with guests and customers in need of organizational space settings to conducts events and conferences. The number of customers is high during peak season and at this time; the customers are identified to have high bargaining power. The availability of substitutes is medium to low in nature, as there are very few alternative to Aber Gardens available for the customers (Cheng, 2013). In case of premium segment, the hotel operates in a number of subsidiaries at different locations. Product differentiation is high, as services offered are differentiated from the services provided by competitors. In this respect, the hotel with differentiated products and brand value is able to retain premium customers. Customers exhibit low switching costs and high requirement of capital for making investment in staff development and infrastructural facilities. Respectively, barriers to entry are low for other hotels operating in the area (DÃ ¤lken, 2014). Threat of substitutes is medium, as competitors that include Kimps Hotel Group and Turnover hotels are engaged with similar services that include room service, leisure accommodation and corporate guestrooms. The switching costs are low and the value of substitutes is low, as there are chances of high informal accommodation during peak season (Amrollahi & Akhgar, 2013; Bardis, 2012). Finally, an important factor that can affect the business environment of Aber Gardens is the ‘Degree of rivalry’. The number of competitors is less as Aber Gardens falls in a premium segment, but the attractiveness is high, as Aber Gardens attracts customers based on discounts and quality services.