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Tax Essay Topics & Paper Examples

Summary on the Situation of the United Way Today

This past year United Way was marked with new and strengthened partnerships with businesses, governments, nonprofits and other institutions. The opening of the Mary M. Gates Learning Center began a new era in how United Ways expand the reach of its network. This state-of-the-art learning center at United Way Worldwide strengthens collaboration and learning opportunities, and fuels the progress of our worldwide movement. President and CEO: Brian Gallagher Vision–United Way envisions a world where all individuals and families achieve their human potential through education, income stability and healthy lives. Mission–United Way improves lives by mobilizing the caring power of communities around the world to advance the common good. Goals–In 2008, United Way initiated a 10-year program designed to achieve the…

History of Goods and Service Tax in Malaysia

1. Introduction of GST Goods and service tax were first deliberated in 2005 with the intention to introducing it in 1st January 2007. However, it was withdrawn in the following year. In 2009, GST was revived with a proposed rate of 4% to replace current Sales Tax of 10% and Service Tax of 5% in a bid to diversify national revenues. However, the idea of GST still end up floating around as it has now been officially deferred. 2. Concept of GST Goods and Service Tax (GST), also known as Value Added Tax (VAT), is a broad consumption tax. The purpose of the introduction of GST is to spread the burden which borne by consumer in some particular areas into…

Optimal Sin Taxes

We investigate ‘‘sin taxes’’ on unhealthy items, such as fatty foods, that people may (by their own reckoning) consume too much of. We employ a standard optimal-taxation framework, but replace the standard assumption that all consumers have 100% self control with an assumption that some consumers may have some degree of self-control problems. We show that imposing taxes on unhealthy items and returning the proceeds to consumers can generally improve total social surplus. Because such taxes counteract over-consumption by consumers with self-control problems while at the same time they naturally redistribute income to consumers with no self-control problems (who consume less), such taxes can even create Pareto improvements. Finally, we demonstrate with some simple numerical examples that even if the…

Tax Office Operation Transformation

Governments of developing countries are constantly scrambling to raise the revenues required to finance higher service demands expected by their citizens and the infrastructure (economic, social and environmental) that will enable them to grow the nation towards being industrialized. And to sustain the all imperative comparative advantage over neighbouring nations. Taxation revenues continue to be the main source of revenue for Government spending. This in turn requires well-designed tax policies (new taxes and tax reform) that are translated into clear legislation and are administratively feasible. Perhaps the greatest challenge facing these countries is to improve the effectiveness of their tax administrations.[1] Common Challenges Tax Administrations in developing country contend with the same range of challenges with developed nations, although the…

California Proposition

What is proposition 13? Property taxes in California have been a controversial issue for very many years. In mid 1978, approximately ⅔ of voters in California passed proposition 13. Before it had been passed, property taxes increased almost annually according to the assessed value of the property. In the 1970s, there was a remarkable growth in the real estate market and the value of homes rapidly went up. Property values were escalating substantially since assessors had to keep assessed values current. On the other hand, increments in the evaluated value were not made annually. Therefore, this led to a huge tax shock for homeowners after every few years. After Proposition 13 was passed, there are several things that have taken…

Penalties and Offences in Tax

In understanding the context of penalties and offences in Self-Assessment System, we first need to understand the overall meaning of Self-Assessment System. Self-Assessment System is based on the concept Pay, Self Assess and File. Whereby, Pay stands for monthly salary deductions are made for the individuals who are having an employment income or also for the individuals who are having business income through installments. The Self assess stands whereby the taxpayers are responsible in computing their own taxes. And the file stands for the Income Tax Revenue Form (ITRF) where it will be submitted to the Inland Revenue Board Malaysia together with the payment for the balance of the income tax payable where it is to meet any shortfall in…

Fiscal policy

The uk government sets monetary policy by adjusting the funds rate. This affects other short-term and long-term rates, including credit-card rates and mortgages. Governments define fiscal policy by setting taxation levels and writing legislation and regulation for everything from health care to the environment. Fiscal and monetary policy changes can affect businesses directly and indirectly, although competitive factors and management execution are also important factors. Businesses go through cycles of expansion, recession and recovery. Monetary and fiscal policies can affect the timing and length of these cycles. In the expansion phase, the economy grows, businesses add jobs and consumer spending increases. At some point, known as the peak, the economy overheats and the government increases interest rates to stave off…

The Effectiveness of Tax Software to Individual Tax Payer

Tax software is a type of computer software design to help individuals or companies prepare for and file income, corporate and similar tax return. It streamlines the process of filing taxes by walking through tax forms and issues and also automatically calculates individual’s or companies’ tax obligations. Moreover, tax time does not have to be painful. Using an online eFile tax service, most taxpayers can create accurate federal and state returns within minutes. If there are complex tax situation, the top-rated online tax software can guide individuals through earned credits and deduction and income declaration requirements to create the most beneficial return as possible. After 40 years, Tax works knows professional tax software. It began as a software developer and…

Nonprofit and for-profit hospitals

1. Describe the differences between nonprofit and for-profit hospitals The Non-profit hospitals were established for charitable purposes and tend to be larger, and are more likely to be teaching hospitals. They also are responsible and accountable to the communities they serve. They are governed by leaders of the communities they serve. Earnings received from the non-profit hospitals are reinvested to improve quality and care provided at the hospitals, and also invested in community programs, such as providing no fee or discounted fees to the uninsured and low income for health care services. Non-Profit healthcare organizations mission is to serve communities by providing healthcare without regard for a patient’s ability to pay. Because non-profit hospitals are a tax exempt organizations they…

Nature of Power of Taxation

Hi Folks. Good morning! I’m Joliever Villanueva. for those who don’t know my names co’z I don’t know your names too. Well’ going to discuss is about the NATURE OF POWER OF TAXATION. – But First I want you to know the meaning of Sovereignty. Sovereignty in tagalong is Karapatang Mamahala. But how it relates to taxation? – because. 1. The power of taxation is inherent in Sovereignty, it is essential or important to the existence of every government. – But why? Why do you think it is important? Any guest? – Where do you think the funds of the government came from to build schools, hospitals and roads? Taxation is important because it is the source of the fund…

Tax Code & Social Policy

he society and the economy at large. I think the tax laws pertaining to health care have been successful in making health care insurance more accessible, and in keeping health care costs confined to an affordable range. However, there are times when our representatives in Washington attempt to engineer people’s behavior, not to address the greater needs of the society, but to appease one lobby or another. Examples include the tobacco industry, the refining sector, and others like them who for years have enjoyed favorable tax treatment. Furthermore, one can argue that even at the individual level the tax code, despite being labeled a progressive one, really creates tremendous inequities by allowing the wealthy to legally have a lower effective…

Administrative Feasibility

Administrative Feasibility – means that tax laws, rules and regulations must be capable of being administered and complied with. Citizenry must easily understand its application for its compliance. No matter how willing and able a taxpayer in complying the mandates of a tax law if he could not comprehend, he could not fully comply the same without lapses. Notably, each error in compliance is penalized and good faith is not always a good defense. Administrative feasibility – means that tax laws should be capable of convenient, just and effective administration. Administrative Feasibility- The tax system should be capable of being properly and efficiently administered by the government and enforced with the least inconvenience to the taxpayer. Administrative Feasibility – this…

Fiscal Policy

The United States’ economy has gone through many different stages from deficits and surpluses to a large debt. These can affect people in many ways. This paper will cover the United States’ deficit, surplus, and debt and how it affects taxpayers, future Social Security and Medicare users, unemployed individuals, University of Phoenix students, the United States’ financial reputation on an international level, a domestic automotive manufacturing exporter, an Italian clothing company importer, and the Gross Domestic Product (GDP). Tax Payers The United States’ deficit, surplus, and debt effect taxpayers greatly. The deficit affects taxpayers because when the country is running a deficit, it means that the supply of money is low. The taxpayers are then called upon to lessen the…

A Brawl in Micky’s Backyard

If you were on the city council, how would you vote on the issue? As a city councilor, I would be reminded that I am entrusted with the duty to provide the ways and means to ensure the safety and security of citizens of Anaheim and work to maintain and/or enhance a high quality of life. I would absolutely support affordable housing for the citizens of Anaheim who need a reasonable housing solution but I would search out alternative locations where a larger affordable housing development might better serve the needs of the stakeholders involved. The proposed development would serve only 15% of citizens in need which seems like a meager attempt to satisfy the real needs of the community….

Internal Revenue Service

In the fiscal year 2012, the United States Internal Revenue Service collected $2. 5 trillion. That’s more money than any of us could even begin to fathom. With this comes a great responsibility to the agency to conduct itself in an equal manner among all of its patrons. Lately, the IRS has been under intense heat that has sparked from its quesitonable treatment of several groups seeking to operate within a tax-exempt status. In order to better understand what’s going on what it means to us we will explore the history of the IRS, then discover what the applicable tax code means, and finally, and finally dive into the imposing scandal surrounding the agency. Who is the IRS? Let’s first…

Ielts Essays

1. Sample essay: Every week millions of people buy lottery tickets, hoping their small investment will make them rich. They often believe that if they won a million dollars, their troubles would be over. If they actually got the money, would their dreams come true? Whether people live “happily ever after” when they win the lottery probably depends on what their dreams are. Money can buy some things but not others. Cash buys houses, cars, and college educations; it pays for medical treatment and clears up overdue bills. Money also purchases travel and new experiences. A million dollars could allow someone to quit a tough, boring job and try for something better. It could provide a feeling of security. On…

Tax Return Worksheet

1. Even though Gloria is single, her filing status is Head of Household. Why is Gloria able to file as head of household? Gloria is able to file head of house hold in this case because, she has a qualifying dependent. A qualifying dependent would be a closely related relative dependent that you have provided for maintaining a home for yourself and your dependent or dependents. 2. How does Gloria benefit from filing as head of household, rather than single? She benefits more from filing head of household because she will get better tax benefits like higher standard deductions and lower tax rates. 3. What is Gloria’s adjusted gross income? In which line in the tax form did you find…

Vat & Other Indirect Taxes

Introduction Value Added Tax (VAT) was introduced in Nigeria in 1993 but became effective on 1 January 1994. VAT replaced the Sales Tax. VAT is governed by the Value Added Tax Act, Chapter V1, Laws of the Federation of Nigeria (LFN) 2004. The tax is administered by the Federal Inland Revenue Service (FIRS). Rates and scope Rates The standard VAT rate on goods and services is 5%. Value for VAT purposes includes customs duties, taxes, commission, transport, insurance and other charges, where applicable. Other than the standard-rated goods and services, some goods and services have been classified as VAT exempt, while others are zero-rated. Scope The standard rate applies to all goods imported, supplied or manufactured in Nigeria. The scope…

Legal and Financial Aspects Influencing a Start Up Business

Legal and financial aspects will affect the start-up of a business in many ways. These can aid the start-up of a business, or they can make the business struggle. Financial aspects that will make your affect the start-up of your business negatively would be things like an increase in costs for things such as expenses e.g Electricity, resources for product, wages. If you have just started your business, and you are already losing money, there is not really any point in continuing the business. If you can’t cover your expenses you will not make any profit, so you will need to pay attention to the Break Even Point, to see if with the combined cost of expenses and costs, and…

Petersan Tax

In order to properly prepare a tax return, there should be a complete list of the correct documentation in order to facilitate In this case Harold and Sarah Petersan; the forms will be a varied depending on their information. Harold and Sarah Petersan is a married couple living in California, with one dependant. Both husband and wife work outside the home and the dependant received child care services. During the tax year, 2010, the Petersan’s sold their primary residence for $520,000.A line by line review of the Petersan’s tax return will show the appropriate treatment of income, deductions, child care expense and the sale of a primary residence. The first step is to determine the taxpayers filing status and then…

Battery Park City

This case study is an excellent example of how different types of parties can be brought together in a large scale transaction and how the original energy of those early meetings can be lost over time. I imagine that when Anthony Athanas was purchasing those old piers back in the 1960s many, if not all, of his colleagues, friends, and family members told him that he was off his rocker. I’m sure Athanas was looking at this land as his family’s ticket to financial prosperity and somewhat of a legacy that he could leave to his descendants for years and years to come. One of the items I wish the case would have divulged is the amount of money that…

Shay`s Rebellion

The 1787 rebellion was led by Daniel shay. He was not much literate, but he portrayed charismatic character. The “who`s who” of the day had been labeled a rebel, traitor, and coward. However, those allegations were nothing but distant from the truth. He was a devoted nationalist, and a decent military officer supporting America’s devolution. He had devoted over five years of his life in service of America`s government. In addition, besides devoting his life to a patriotic course, he owned little property under his name and was also an accused person in a lawsuit. He mobilized oppressed citizens, both poor farmers and middle class town folks, who disagreed with the government’s actions during the time. He was able to…

Retirement Plans

Retirement is often the topic of many US workers during the end of their employment years. However, the topic of retirement is most important during the first years of employment. By law, an individual can collect retirement funds from three different sources! There are many retirement options available to both employees and the employers and to make the best decision one must have a basic understanding of the retirement options available. This paper will discuss some of those retirement plans available such as 401(k) plans and individual retirement arrangements (IRS) and what role the Employee Retirement Income Security Act of 1974 plays. 401(k) Plans 401 (k) plans are defined as contribution plans and were named after the section of the…

History of the U.S. Income Tax

The income tax of the United States of America, be it federal, state and local, has changed over time. Different circumstances pushed the government to create taxation and to amend the existing taxation laws. During the pre-Revolutionary War era in the 1700s, taxes were not imposed by the colonial government as their need for tax revenue did not exist. The colonies, on the other hand, had greater responsibilities therefore, had greater need for tax revenue. Because of this, different types of taxes were imposed by the colonies. The southern colonies imposed taxes on imports and exports while the middle colonies imposed taxes on property and a poll tax on each adult male. The New England colonies, on the other hand,…

Income Tax and Deductions

Tax avoidance is legal in most states and every tax payer will present his returns in a way which reduces tax burden the most. Thus a taxpayer will opt for either standard deduction or itemized deduction whichever will enable him shoulder less tax burden. For standard deduction the deduction from taxable amount is a standard amount. For example for a single citizen the standard amount is $5,350. For married couples filling jointly the standard deduction will be double for the single ($10,700) but for a married couples filing separately each will be allowed a standard amount like for a single person it is $5,350. A qualifying widow(er) with dependant child will be treated the same way a married couple filing…

Impact of tax cut policy on public debt

Public debt is also known as government debt. It involves the total amount of money that is owned by any government at a particular time as the government engages in deficit spending. Tax cut can be achieved through different ways. First, the government can cut its expenditure as the individuals increase theirs on commodities that are sourced from within, the government can maintain its expenditure while the tax payers increase theirs on commodities from within, and finally the government can decide to maintain its expenditure as the individuals save their income or use it spend for commodities outside the country. Tax cut policy is implemented to generally decrease the real income of the government and then consequently increase the real…

Internal Revenue Service

According to the Internal Revenue Service, a taxpayer has the choice between five different filing statues. The five statuses are, Single, Married Filing Separately, Married Filing Jointly, Head of Household, and Qualifying Widow(er) with dependent child. For the couple in question, the recommendation I am making is that they use the filing status of married filing jointly. Since the couple has three children they will qualify for three dependency exemptions as well as two exemptions for themselves. Since all three of the children still live in the household and all of the children are under the age of nineteen the couple is allowed to claim them as dependents. On the other hand, the couple cannot claim spouse B’s mother since…

Taxation Law and Practice

Activities are classified in terms of a business or a hobby and it is important that the two are separated. The difference depends on whether the activity is being carried for tax purposes or not. It is of great importance for the taxpayer to take into a consideration whether an activity they are involved in is for commercial purposes or whether it is situated in an environment suitable for carrying out business. Individuals have different professions which they actively do and devote much of their time and resources in doing which generate some taxable income. Engaging in another activity on the side whether in a small scale but with a profit motive or with an intension that profits will be…

The Corporate Culture

A six-year legal battle involving the jailed father-son duo who headed now-defunct Adelphia Communications has ended after prosecutors withdrew tax fraud charges related to their earlier conviction in a $1. 9 billion fraud case. Prosecutors said they withdrew the tax-related charges Wednesday against the Pennsylvania cable company’s founder John Rigas and his son Timothy because they weren’t likely to end in substantial additional jail time or restitution. Proceeding with the case wouldn’t be “a prudent expenditure” of prosecutorial resources, authorities said. Authorities alleged in 2005 the Rigases had committed tax fraud when they failed to pay income tax on the proceeds of the fraud they were convicted of in New York a year earlier. The former executives fought the case…

Should the government institute a fat tax on fatty foods in stores and restaurants?

It is no doubt that the world has over the last decade an alarming increase in the number of overweight people. Such have been closely attributed to the increase in the rate of intake of high fat and low nutrition foods and beverages. The American nation in particular has declared its highly increasing incidences of obesity among its citizens to be an epidemic. Statistical evidence has revealed that over 250,000 deaths in America annually are due to obesity related complications. Also found out is the fact that the government is spending over $100 billion every year as health care expenses on obesity victims. It is in fact due to this reason that the government proposes to increase the taxes levied…