What type of tax planning is it when an owner of a business in an incorporated city moves their business to an unincorporated city to avoid the city tax? and why is it that type?
1.) Sometimes the owner moves from an unincorporated city to an incorporated city to reduce the tax burden
2.)Actually the tax burden will be reduced between city to city regarding the factors like cost of living, tax rates, prices variation etc.,
3.)In an un incorporated city the standard of living is less when compared to the incorporated city so the owner of the business plans his income for the purpose of reducing the house property income.
4.)House rent allowance will also be more in case of incorporated city when compared to unincorporated city.
5.)Sometimes the prices of the products varies from city to city due to demand of the product and according to their cultures
What type of tax planning is it when an owner of a business in an incorporated...
How could an owner of a business end up getting personally sued even if the business is incorporated?
Helping a Business Owner with a Tax Problem" Kenneth, the owner of a catering company, needs business advice. He recently travelled to Massachusetts for a week for a trip and spent five days on business and two days to visit his family. While he was gone, one of his food trucks was damaged partially by vandalism and two grills were stolen. He is distraught. He does not know how to report the business expenses from his trip or the loss...
When planning to interview a patient, what should not be incorporated in the session? A. O Sit where the patient can best see you. B. O Address the patient by first name to promote comfort and ease C. O Be cognizant of both verbal and nonverbal behaviors. D. Be respectful of the patient.
What is the difference between debt and equity loans/investments? What should a business owner consider when considering business capital in the form of debt or equity? Why are ethics important in finance?
Suppose you are the owner of a small woodworking business that is privately incorporated. You currently own 100% of the business (equity valued at $100,000), with no long term debt. You are looking to purchase a new piece of equipment costing $10,000 that will require funds that you do not have available. How would you choose to finance the equipment? Explain the reasoning behind your decision.
Suppose you are the owner of a small woodworking business that is privately incorporated. Your currently own 100% of the business (equity valued at $100,000), with no long term debt. You are looking to purchase a new piece of equipment costing $10,000 that will require funds that you do not have available. How would you choose to finance the equipment? Explain the reasoning behind your decision.
Chris, the owner of a catering company, needs business advice. He recently traveled to New York for a week and spent five days on business and two days visiting his family. While he was gone, one of his food trucks was damaged partially by vandalism and three grills were stolen. He does not know how to report the business expenses from his trip or the loss sustained from the vandalism and stolen grills.What are the potential tax consequences for Chris?What...
please answer all questions or don't answer (T/F__T___8) A small business owner should avoid borrowing money when he/she sees a downturn in business or to refinance existing debt. _____9) Commercial banks are lenders of last resort for small businesses. _____10) A business owner does not pay interest on a floor-planned item in inventory until it is sold. _____11) Even companies whose financial statements are too weak to produce other types of loans can get asset-based loans. _____12) Trade credit, while...
When the owner of a business invests cash into the business, which of the following accounts is debited? O A. Common Shares OB. Accounts Receivable O C. Cash OD. Dividends Click to select your answer
THOMAS DRAKE'S 2018 TAX SCENARIO Thomas Drake is a small business owner, operating a manufacturing plant in Chicago, Illinois (as an S-Corp.) He has heard about a new tax break called Section 199A (deduction for qualified business income) wherein he may be entitled to a deduction of up to 20% of his qualified business income. If he can qualify for this deduction, it would result in significant tax savings for his business. Consequently, he contacts your accounting firm to find...