Search results “Annual investment allowance” for the 2013
Pension Annual Allowance
This video explains what and how annual allowance works.
Views: 523 MakeMoneySaveTax
Paul Foley (Sales Director) speaking about Capital Allowances at Accountex 2013
An introduction to the procedures, processes and benefits of claiming Capital Allowances through Catax Solutions
Views: 334 Catax
The Allowance
The Allowance Business Career College is a national financial services education provider. See our insurance, financial planning and continuing education courses, including self-paced and instructor led options, at https://www.businesscareercollege.com For great industry articles, follow on Twitter (https://twitter.com/JasonWattBCC) or like on Facebook (https://www.facebook.com/BusinessCareerCollege/).
Views: 4189 BCC Education
Investment Claims
Investment Claims is an up-to-date, authoritative resource providing researchers with a fully integrated suite of arbitration awards and decisions, bilateral investment treaties, multilateral treaties, journal articles, monographs and arbitration rules. Find out more at http://www.investmentclaims.com
Killik & Co: End of Tax Year Planning explained
In this 8 minute video, Sarah Lord, a Chartered and Certified Financial Planner, will talk to us about Capital Gains Tax planning, ISA allowances, Junior ISAs, Pensions including annual allowance and carry forward, Venture Capital Trusts and Enterprise Investment Schemes. For more information please call 020 7337 0503 or visit http://www.killik.com
Views: 303 Killik & Co
Intangible Assets Accounting (Franchise Contract, Capitalization, Amortization, Fee Expenses)
Accounting for a franchise (licensing agreement) as an intangible asset, Contract Related: (franchise & licensing agreements, construction permits, broadcast rights, and service or supply contracts),1-Amortize the cost of a franchise (or license) with limited life as operating expense over the life of the franchise, 2-Do not amortize with an indefinite life nor a perpetual franchise, instead carry such franchise at cost on balance sheet, based onFranchise example: On 1/1/20X1 Corp-A entered an agreement to operate a franchise of ABC Services for an initial franchise fee of $150,000, of this amount $30,000 was paid when agreement was signed and the balance is payable in (4) annual payments $30,000 discounted at 14% (PV = $87,411), the agreement also provides a 5% revenue from the franchise to the franchisor annually, revenue from the franchise during 20X1 was $1,800,000, useful life of franchise estimated at 10 years, for this example the franchise cost is the present value of the four payments of $30,000 each plus the initial payment of $30,000 = 117,411, the amortization per year is this amount divided by the useful life of 10 years, there is also a yearly franchise fee, detailed calculations by Allen Mursau
Views: 10441 Allen Mursau
Your career at Saffery Champness
As a top 20 UK accountancy firm, and advisers to some of the UK's wealthiest individuals, Saffery Champness is a dynamic and exciting place to launch your career. Through hard work and innovative thinking -- to say nothing of the personal touch which has long been our trademark -- we have achieved strong market positions across a range of sectors, but particularly private clients. Our vision for the future is simple -- we wish to be universally recognised as the firm of choice for private clients. You can be instrumental in turning this vision into reality, while learning how to maximise your own professional potential. For more information please visit our careers page: www.saffery.com/careers
Views: 1108 Saffery Champness
Understanding the Pensions Issues for High Earners
On October 16th we broadcast a webinar concerning the forthcoming changes to UK pension allowances. This popular session focused on the impact of upcoming reductions to the Annual and Lifetime Allowances and was full of invaluable help and advice. If you didn't get a chance to join us live or would live to watch again now is your chance. Topics covered include: - Fixed protection - Personalised protection - Carry forward rules - Financial planning - Featuring: Higher earner case study Connect with Towry http://www.linkedin.com/company/towry http://www.twitter.com/TowryWealth http://www.facebook.com/TowryWealth https://plus.google.com/102842338896886128044
Views: 448 Towry Wealth
Guaranteed Minimum Pension
Get advice on your GMP and learn how to turn your second tier pension scheme into growth. http://www.financialadvice.net/contracting_out_state_earnings_related_pension_scheme/zone/351
Views: 1577 MakeMoneySaveTax
Cost Base for your investments
http://www.painlessfinancialtraininggroup.ca/ Are you keeping track of how much you paid for all of the shares youown? You need this information when you sell the share, in order to calculate the correct gain or loss. If you have used one broker for all of your investments then you should be able to rely on this person to track your transactions. If you do your own investing or have used a number of brokers then it would make sense for you to figure out how you are tracking the cost of your investments. Some of the tax slips you get have a box for something called return of capital - this means that you have received non taxable money back from an investment, this money is a reduction in the cost price. For example if you paid $100 for a share and the return of capital this year was $5 - the cost of your share is now $95, which means that your eventual gain when you sell this share is higher. You are supposed to know this! So figure out who is tracking this for you or how to do it yourself.
Views: 1134 Debi Peverill
Pension Lifetime Allowance
Protecting your pension rights could save you from a very hefty tax bill. Speak to one of our advisers today.
Views: 482 MakeMoneySaveTax
Probate and inheritance tax
Dealing with Inheritance Tax (IHT) is a complex and onerous part of administering estates. This video provides information on assessing whether IHT applies and if so, what that involves.
Views: 2202 Simplify Probate
Inheritance Tax Nil Rate Band
Like it or not we are subject to inheritance tax upon death, but planning correctly and knowing you allowances can save dramatically. http://www.financialadvice.net/
Views: 318 MakeMoneySaveTax
An Effective Strategy for Reducing Taxable Income : Financial Planning
Subscribe Now: http://www.youtube.com/subscription_center?add_user=ehowfinance Watch More: http://www.youtube.com/ehowfinance Reducing taxable income requires you to adopt an effective strategy sooner rather than later. Get tips on an effective strategy for reducing taxable income with help from a certified financial planner TM professional with over a decade of experience in wealth management in this free video clip. Expert: Samantha Fraelich Bio: Samantha Fraelich is a Certified Financial Planner® Professional with over a decade of experience in Wealth Management. Filmmaker: Malcholm Reese Series Description: Financial planning can not only help make sure that you stay ahead of your existing bills, but it can also be a great way to help save money for that new car you've been trying to buy. Get tips on how to properly plan for your financial future with help from a certified financial planner TM professional with over a decade of experience in wealth management in this free video series.
Views: 2457 ehowfinance
SIPPs and Buying Property
This video will help clear up a few things surrounding buying property with your pension fund.
Views: 919 MakeMoneySaveTax
APSCo Awards for Excellence Winners 2013 -- Saffery Champness
Recruitment trade association APSCo hosted its annual Awards for Excellence sponsored by daXtra and RBS. Accountancy provider to the recruitment industry Saffery Champness won the award for Affiliate Member of the Year. Interview with Richard Collis and Nicola Pitcher from Saffery Champness, winners of the APSCo Awards for Excellence in the Affiliate of the Year category.
Views: 121 APSCoTV
Have You Been Mis Sold An ISA
Individual Savings Accounts are a tax efficient way of both saving and investing and everybody has an annual allowance they can utilise. The current limit for tax year 2012/2013 is £11,380 and this has increased from £7,000 when ISAs were introduced in 1999. Stocks and Shares ISAs are recommended by financial advisers and should be the first consideration when giving financial advice as substantial amounts can be built up over time. However, sometimes investors do not understand their capital is not secure in a Stocks and Shares ISA as there will be an element of risk involved. It is vital that the adviser understands the level of risk the investor is comfortable with as this will ensure the correct fund is recommended. To find out more about this you can visit our website http://www.creditclaimsonline.co.uk/mis-sold-investments/mis-sold-individual-savings-account-isas/
Views: 152 Sean Swimby
Chapter 12 Homework A (Question #2) Exerecise 12-4
On March 1, 2011, Abbey and Dames formed a partnership. Abbey contributed $95,000 cash and Dames contributed land valued at $76,000 and a building valued at $106,000. The partnership also assumed responsibility for Dames's $85,000 long-term note payable associated with the land and building. The partners agreed to share income as follows: Abbey is to receive an annual salary allowance of $30,000, both are to receive an annual interest allowance of 11% of their beginning-year capital investment, and any remaining income or loss is to be shared equally. On October 20, 2011, Abbey withdrew $28,000 cash and Dames withdrew $21,000 cash. After the adjusting and closing entries are made to the revenue and expense accounts at December 31, 2011, the Income Summary account had a credit balance of $77,000. 1(a) Prepare journal entries to record the partners' initial capital investments. (Omit the "$" sign in your response.) 1(b) Prepare journal entries to record their cash withdrawals. (Omit the "$" sign in your response.) 1(c) Prepare journal entries to record the December 31 closing of both the Withdrawals and Income Summary accounts. (Omit the "$" sign in your response.) 2. Determine the balances of the partners' capital accounts as of December 31, 2011. (Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.)
Views: 10655 FacebookMarketingCom
How to Create a Cash Flow Forecast using Microsoft Excel - Basic Cashflow Forecast
Create a basic cash flow forecast using excel. If you need help get in contact. www.bpfs-online.com Support this channel https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=FHGCUQ8GU9VB6 Take our Online Sage training course http://www.bpfs-online.com/p/online-sage-training-course.html Create a bookkeeping spreadsheet using Microsoft Excel http://youtu.be/LlWADbkGdac Sage Accounts Bookkeeping Tutorial/Training Learn more at www.bpfs-online.com
Views: 567224 BookkeepingMaster
Wealth Impact Formula for Rental Property Calculator
Formula for Rental Property calculator provides key financial metrics for wealth impact and cash flow after tax return for rental property. Here are some of the key concepts used in the calculator software that even includes the exit strategy of using a 1031 Exchange and/or a fee for licensed real estate person. PROPERTY INFORMATION / ASSUMPTIONS AND ESTIMATES These are some of the fields of data utilized in the calculator. At the beginning we are listing the property information and after summaries of the key concepts that are calculated by the software in measuring profitability based upon the assumptions in the property information section. Property Purchase Price/Current Value Include Improvements to be financed Property Total Loan Amount Estimated Assessed Value Down Payment Total Improved Value Total Units Rent Per Unit Monthly Rent Scheduled Annual Interest Loan Charge Down Payment at Closing Closing Costs Improvements to be made Out of Pocket Initial Investment Mortgage Payment First, Second if any Estimated Operating Expenses Annual Property Taxes Annual Insurance Annual Maintenance Annual Maintenance Fees Monthly Utility/HOA Fees Other Monthly Property Expenses Vacancy Allowance Total Annual Property Expenses This information serves as the baseline to examine future profitability of the rental property. The calculator now provides some of these calculations for proper decision making. CLIENT'S AFTER-TAX RATE RETURN (TYPICAL) CASH FLOW BEFORE TAXES -- ESTIMATE CASH FLOW AFTER TAXES -- ESTIMATE FUTURE VALUE ILLUSTRATION -- ESTIMATE CASH INCREASE/DECREASE FOR HODING PERIOD assumes monthly cash flow invested at client's after tax rate return. Estimates of Investment Performance -- Cash flow before taxes and cash flow after taxes. Then what you really want to look at. Is this really worth it from a wealth impact standpoint? Total Future Wealth Initial Investment Holding Period in years Average Yearly after Tax Return
Views: 927 Jim Kuhner
Budget 2013
Highlights of Union Budget 2013-14 Following are highlights of the Budget: FISCAL DEFICIT * Fiscal deficit seen at 5.2 pct of GDP in 2012/13 * Fiscal deficit seen at 4.8 pct of GDP in 2013/14 * Faced with huge fiscal deficit, India had no choice but to rationalise expenditure GROWTH * India faces challenge of getting back to its potential growth rate of 8 pct * India must unhesitatingly embrace growth as highest goal SPENDING * Total budget expenditure seen at 16.65 trillion rupees in 2013/14 * India's 2013/14 plan expenditure seen at 5.55 trillion rupees * Non-plan expenditure estimated at about 12 trillion rupees in 2013/14 * Revised estimate for total expenditure is 14.3 trillion rupees in 2012/13, which is 96 pct of budget estimate * Set aside 100 billion rupees towards spending on food subsidies in 2013/14 CURRENT ACCOUNT DEFICIT * India's greater worry is the current account deficit - will need more than $75 billion this year and next year to fund deficit INFLATION * Food inflation is worrying, will take all steps to augment supply side TAX * Proposes surcharge of 10 pct on rich taxpayers with annual income of more than 10 million rupees a year * To increase surcharge to 10 pct on domestic companies with annual income of more than 100 million rupees * Education cess to continue at 3 pct CORPORATE SECTOR AND MARKETS * Plans to issue inflation-indexed bonds * Proposes capital allowance of 15 pct to companies on investments of more than 1 billion rupees * Foreign institutional investors (FIIs) can use investments in corporate, government bonds as collateral to meet margin requirements * Insurance, provident funds can trade directly in debt segments of stock exchanges * FIIs can hedge forex exposure through exchange-traded derivatives * Investor with less than 10 pct stake in a company will be regarded as FII, more than 10 pct stake as FDI (foreign direct investment) * Stock exchange regulator will simplify know-your-customer norms for foreign portfolio investors * To implement quickly recommendations of financial sector legislative reforms commission POWER AND ENERGY SECTOR * Proposes zero customs duty for electrical plants and machinery * Proposes to move to revenue-sharing from profit-sharing policy in oil and gas sector BANKING * To provide 140 billion rupees capital infusion in state-run banks in 2013/14 * To allocate 10 billion rupees for India's first women's bank DEFENCE * To allocate 2.03 trillion rupees to defence in 2013/14 AGRICULTURE * To allocate 801.94 billion rupees to rural development in 2013/14 * Plan to allocate 270.49 billion rupees for agriculture in 2013/14 FINANCE MINISTER COMMENTS * "Faced with a huge fiscal deficit, I have no choice but to rationalize expenditure. We took a dose of bitter medicine. It seems to be working."
Views: 97 SRM Activity
Case 10 - How to understand Tax Liability & File Return in terms of Third Party Lease.
Last day , a colleague walked in my cabin and asked me how does income tax work for a employee who has taken self lease via third party mechanism ...wait wait wait , before you wanna quit reading and think this is all gonna be tough ,i promise , this is gonna be easy than french kissing your girlfriend -Trust me , Let's come back to the topic and put naughty thoughts to rest ....what is third party , i often tell people that i am overwhelmed at the beauty of English ..it gives way to the meaning ...the company enters into a agreement with third party ...why not first or second...it's because the company doesn't know this party ,it may be your father's house which you wanna self lease or someone else's house ,say krishna 's house (for the example case )..what company does is enter into a self lease mechanism with the third party (anyone other than you ) wherein it will now pay rent to the third party i.e krishna or your father whosoever house you decide to stay in ,after deducting 10 % tax Note , for you , this rent will not compute as income ,so you cannot show this as income inside your ITR 1 return form (assuming that you are earning from only salary - so ITR 1 ), So , you would be filling all income sources as one applicabkle to you excluding house income (since house anyways doesn't belong to you in the first place , it belongs to krishna madam or father and so the income will be rightfully generated to them in the self lease case ..so why is it called self lease...because using this mechanism , company is leasing out a flat for self occupation of it's employee , Also note , in this case , since you stay in someone else's apartment i.e krishna or father's etc , whosoever the company has entered third party self lease agreement with , it is the benefiting party either krishna or your father or anyone who the company is paying rent to for your accommodation,who has to show this house income , Now ,she /he -i.e owner of the flat may have income from other sources as well . Depinding upon the source of income ,she/her will select income tax return form and whilst computing house income show this self lease case as rented out property , All benefits like in the normal case of a rented house house in terms of standard deduction @ 30 % of net annual value as also the entire home loan interest , if the rented out home to the company employee has been bought with loan would be eligible for deduction (like in case of a simple rented case ), Finally , both the employee and the third party will file separate returns , The employee wont show house income whereas the third party will rightfully because it's her /his house which is generating income in terms of the rent it is generating because of the agreement signed with the company to provide you with accommodation , We see all this with examples ,Hopefully everything makes sense , If it does ,a word of thanks does help to keep me motivated .Also , if you learn ,spread knowledge .More you spread it , more will our country get educated and more tough it will be for authorities to fool you and you can then have healthy debates with tax consultants if you figure out that he is doing something wrong , I am from a absolute unrelated field , but since i am student of knowledge ,every field including finance is my field and i promise that before i depart ,i will make things which matter , crystal clear before i go , Cheer's, Amlan Note- This case is very personal ,i was once subjected to society duping me for i had limited knowledge ..with this tutorial i hope that no one will ever fall in the situation i did , i made a few enemies but that pain today makes me create this tutorial which i am sure will benefit billions of Indians worldwide gain further understanding of their IT concepts ...... Please Check my facebook page www.facebook.com/filingreturnsonline where i keep on adding more stuff and where you would find all the stuff that i have created till date .
Views: 224 Make Knowledge Free
Allied Energy Bowling Green Explains Oil & Gas Tax Benefits
Allied Energy in Bowling Green, KY discusses the tax benefits of investing in Oil & Gas. More Info: http://AlliedEnergy.com *Please take note of the Disclaimer in the video and at the bottom of this description. How to invest $100,000 dollars in an oil well -- and have Uncle Sam pick up about one third of the tab! Every day in the U.S., hundreds of Oil & Gas wells are being drilled -- and in most cases the Government is helping out with about one third of the costs! These wells are drilled by Oil Companies -- both large -- and lesser-known smaller companies but a large number of these wells are drilled by partnerships comprised of two -- up to -- several hundred individual Accredited Investors. The U.S. Tax Code was modified by the Tax Reform Act of 1986 to permit qualifying domestic oil and gas drilling activities to be "written-off" against ordinary or corporate adjusted gross incomes. And Federal Securities Law has special allowances for investors -- to pool their funds into partnerships -- for the purpose of drilling & developing oil wells. Experienced oil and gas professionals typically organize these partnerships. An "Accredited Investor" is defined -- in part -- as a person having a net worth in excess of one million dollars -- or -- an annual income in excess of $200,000 ($300,000 if married). These qualified investors subscribe to participate in a portion of the project -- through their purchase of "Units" in the partnership. For Example: Let's say that the total cost to acquire a lease, perform the Geological Evaluation, then drill and complete the well is ten million dollars. Then -- the sponsor of the partnership might divide that cost -- into 100 Units -- at the price of $100,000 each. Once all of the fund are assembled, the work moves forward, and if successful -- the well is put "On-Line" -- to produce the Crude Oil -- and/or -- Natural Gas. Then, at the end of the year, each partner receives a special tax form called a "K-1". That form shows the amount of "write-off" that he can deduct -- from his income -- on his annual tax filing. In this example, the deduction would average $85,000 per Unit. An investor in a high tax bracket could realize tax savings of as much as 35-50% of the "write-off" amount, resulting in an immediate savings of $25,000 up to $42,500 -- off of their tax bill -- for each unit owned. Of course, there are other considerations for the investor to take into account -- such as: 1. Their actual expected taxable income for the year 2. Their risk tolerance (the well could be a dry hole!) 3. Additional tax savings for depreciation in future years. 4. Depletion allowance -- an additional tax savings on production revenue 5. Potential ongoing monthly revenue from the well 6. The "World Price" of oil during the life of that well, -and- The experience and reputation of the partnership's sponsor. - Just to name a few. In closing, as the demand for oil continues to increase year over year -- sophisticated investors are taking advantage of this type of tax-favored investment - - in order to shelter income and helpt o "inflation-proof" their portfolios. Visit http://AlliedEnergy.com for more information on Allied Energy. *DISCLAIMER: There are significant risks associated with investing in oil and gas ventures. The information within this video is for general purposes only and is not a solicitation to buy or an offer to sell any securities. General information in this video is not intended to be used as individual investment or tax advice. Consult your personal tax advisor concerning the current tax laws and their applicability and effect on your personal tax situation.
Views: 877 AlliedEnergyVideos
Depreciation 102: Real Estate Depreciation
http://www.widgetcpa.com In this additional installment of depreciation Charles explains the differences between commercial and residential depreciation lengths and how to get more out of your lengthy depreciation times. Miss the first two in the series on depreciation? Watch them all here: http://www.youtube.com/playlist?list=... Transcript: Welcome to another edition of Tuesday Tidbits where we make tax and accounting simple. I'm your host Charles D. Shapero, CPA with Widget Bookkeeping & Tax, and today we're going to talk about the depreciation of Real Estate. A lot people, a lot of our clients buy rental real estate, whether it be commercial or residential. And that's really how they're broken out. When you depreciate residential real estate, say we have an apartment building that we're renting, that buidling gets depreciated over 27 1/2 years, if you're doing commercial, like a strip mall, that is 39 year property. But that's not all, I just kinda lumped them into two baskets. When we buy a rental house, there's a couple things we're buying, we're buying the house, we're also buying land, the land that that property sits on, we're also buying some appliances in that building, and maybe some land improvements. So now I've just chopped this one asset that we said was going to be depreciated over 27 1/2 years, and I've chopped it up into several different categories The appliances, appliances when you buy them are 5 year assets. That's a lot more rapid write-off than taking 27 1/2 years. So to the extent that we have appliances we probably want to break them out. I also mentioned land. Land is not as happy as appliances because land we can't write-off at all, land does not depreciate. So let's just say we spend $200 grand on this house, maybe $20,000 of that relates to the land, which we'll never be able to write-off, until we sell the property. So no depreciation on land. I mentioned land improvements, that could be like a parking lot or a fence. Those items are written off over 15 years, so we don't have to wait 27 1/2 years, to write them off. Commercial has many of the same items, but they're basically 39 years. If you buy a big enough property, say we buy a strip mall for 1/2 a million dollars. One of the things we can do to accelerate our depreciation and speed it up, is to hire a cost segregation specialist. What that is, is he's an engineer that will go in and instead of seeing this building a 39 year asset, he'll chop it up into pieces like I did over here at the residential, he'll say oh those ceiling tiles, those are 5 year property, and this electrical runs this, that's 5 year property and this is 7 year property. So instead of calling it 39 years, we're writing different buckets of items over off shorter periods of depreciation. Which really accelerates our write-off. This concludes today's Tuesday Tidbit, see you next Tuesday. Widget Bookkeeping & Tax Know More, Keep More
Views: 21908 WidgetCPA
Hacienda Tax Investigation
Gibraltarians who live in Spain and commute to Gibraltar on a daily basis will be the subject of a Spanish tax department investigation, according to the national daily newspaper, ABC. Jonathan Scott reports.
Views: 753 GBC News
Completing a share pool for CGT
Share pool completion and how to split disposal proceeds
Views: 752 Miff Bizz
Depreciation on Rental Properties by Attorney William Bronchick
Attorney William Bronchick (www.legalwiz.com) discusses the benefits of depreciation on rental properties.
Views: 13220 William Bronchick
Cash flow after deprecition and tax - 2: depreciation tax shield
This video explores the role of the depreciation tax shield in calculating cash flows. Follow us on Twitter: https://twitter.com/codible
Views: 24898 Codible
Tax Breaks for Animation - how they will work
Media Tax specialist Moses Nyachae from Saffery Champness in conversation with Kath Shackleton from animation network All Animated about the detail of how the new tax breaks will work. https://www.facebook.com/AllAnimated http://www.saffery.com
Views: 80 AllAnimatedUK
Case 5 - What is exempt Income (Hindi)
Income on which applicant doesn't have to pay tax is called exempt income ,simple! Avoid textbooks and bookish gyaan ...they suck !
Views: 3918 Make Knowledge Free
Multiple Choice Answers
http://subjectexperts.blogspot.in/2013/09/multiple-choice-answers_2798.html 1. The Retained Earnings account is comprised of 2. A company's long-term ability to generate cash internally or from external sources in order to satisfy plant capacity needs, fuel growth, and repay debt when due is Use the following information provided in the Sanchez Company's annual report to answer question 3. 3. In a trend income statement (horizontal analysis) for 2004, where 2002 is the base year, Sanchez Company's sales is expressed as Use the following information taken from Wenzel Corporation's condensed balance sheets to answer questions 4.4. In a common size balance sheet (vertical analysis) for 2003, Wenzel Corporation's Plant and Equipment (net) is expressed as 5. Under the matching principle, the apportionment of the cost of a copyright to future periods is called 6. When a company has an operating lease for its primary premises, it would report a lease asset on the balance sheet equal to 7. If a corporation signs a 15 year lease for a building and the present value of the lease payments is $350,000, the lease is a capital lease if the  8. When accounting for a capital lease, which of the following expenses would be reported in the income statement? 9. When a specific accounts receivable is written off against allowance for doubtful accounts 10. All the following are principles of internal control except: 11. The expense for cost of goods sold is equal to 12. Current assets are those assets that are expected to be converted into cash within 13. The quick ratio is equal to  14. Poulo Company reports the following account balances on its balance sheet: How much is Poulo's total current assets? 15. Which of the following should not be included in cash balances? 16. Which of the following items is not a liability? 17. If a discount on bonds payable is amortized by the effective interest method, the reported interest expense will   18. STU made the following journal entry at the end of the first lease year: 19. On February 1, 20x1, Hogue Corp., a newly formed company, had the following stock issued and outstanding: • Common stock, no par, $1 stated value, 10,000 shares originally issued for $15 per share • Preferred stock, $10 par value, 3,000 shares originally issued for $25 per share Hogue's February 1, 20x1 statement of stockholders' equity should report 20. Rent received in advance is an example of an asset. 21. Liabilities arise from past transactions or events 22. A balance sheet reflects the resources, obligations, and equity of an enterprise over a period of one year or one operating cycle, whichever is longer 23. Aging accounts receivable emphasizes the balance sheet valuation of accounts receivable over the amount of bad debt expense reported in the income statement. 24. Investments in stocks that are expected to be held for the long term are listed in the stockholder's equity section of the balance sheet. 25. Federal income taxes withheld from employees is not a current liability of the employer because under federal income tax law the employer is required to withhold the tax. 26. The total amount of interest expense over the life of a bond that was issued at a discount is equal to the total amount of the interest payments plus the amount of the discount. 27. All long-term leases should be capitalized in the accounts of the lessee. 28. When comparing two companies of different sizes, the current ratio is a better measure to determine one company's liquidity than is working capital.   29. Selected data of the Rau Company follows : 2002 2003 2004 Sales $250,000 $300,000 Cost of goods sold 100,000 125,000 Inventory $ 30,000 35,000 45,000 Inventory Turnover Ratio (Industry Average) 6.0 times 5.8 times 30. Accounts Receivable Turnover 31. Quick Ratio 32. Return on Assets 33. Interest Coverage Ratio 34. Profit Margin Ratio 35. Inventory Turnover 36. Return on Equity 37. Mavis Company purchased a truck for $100,000 on January 2, 2004. The truck has an expected salvage value of $5,000 at the end of its five year useful life. For double declining balance depreciation, assume the company switches to the straight-line method after 3 years. 38. (1 point each) A retail store has completed certain transactions that management believes may have caused current liabilities. Indicate by check mark whether the following items should be classified as current liabilities at December 31. Classified as a Current Liability?
Views: 56 Michael Anderson
Can I Offset My Pension Income With The Foreign Earned Income Exclusion?
http://www.greenbacktaxservices.com/blog/pension-income-and-foreign-earned-income-exclusion/ How is pension income treated in regards to the Foreign Earned Income Exclusion? In this video, expert David McKeegan explains. "I am retired abroad and my income is from my pension. Can I use the Foreign Earned Income Exclusion or the housing deduction to lower my taxable income?" The short answer here is no. The Foreign Earned Income Exclusion and the Foreign Housing Allowance are both used to offset earned income. Pension income is not considered earned income. It's considered unearned income. Usually the follow-up question we get to this is then, well why do people retire abroad if you don't get the tax benefit there, what's the big deal around it?" Read the full blog post on our website: http://www.greenbacktaxservices.com/blog/pension-income-and-foreign-earned-income-exclusion/ If you have additional questions about your US expat taxes, please don't hesitate to contact us! http://www.greenbacktaxservices.com/contact
Signs of a Collapsing Economy
Signs of a Bad Economy - So many restaurants closing down on this major street. Filmed in 1080p HD Filmed by ArizonaAdventuresS Please hit "LIKE" and "SUBSCRIBE" to be a part of my Arizona Adventures Copyright Disclaimer: Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is permitted. Video's uploaded to this channel are not intended to infringe on any copyrights and has been uploaded solely for entertainment purposes only. My YouTube Channel http://www.youtube.com/ArizonaAdventuress Please Donate if you can: Filmed in 1080p HD Filmed by ArizonaAdventuresS - © Copyright, All Rights Reserved Music created by: ArizonaAdventuresS Used with permission - All rights reserved Please Donate if you are able to: https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=QL3NU78SH5DNG Please hit "LIKE" and "SUBSCRIBE" to be a part of my Arizona Adventures Copyright Disclaimer: Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is permitted. Video's uploaded to this channel are not intended to infringe on any copyrights and has been uploaded solely for entertainment purposes only. My YouTube Channel http://www.youtube.com/ArizonaAdventuress Please Donate if you are able to: https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=QL3NU78SH5DNG
What is pension recycling?
Michael Brooke explains pension recycling, a process by which some semi-retired individuals can maximise the benefits of tax relief.
Views: 238 ClarionWealth
GST & Rental Properties (Do you need to be registered for GST or not?)
http://banksconsultancy.com.au [Tidbit of the Day] Today, we're going to talk about the GST and rental properties. ------------ Video Highlights: 0:11 - Tidbit of the day 0:14 - Residential rent = no GST 0:28 - Commercial properties and registering to GST 0:45 - Charging less than $75,000/annum under present legislation = no need to register for GST 1:09 - GST on residential properties are not claimable ------------ Watch this video on Youtube: https://www.youtube.com/watch?v=Xc4YSfbxrSs Leave a comment about this video... Remember to subscribe to our channel! ------------- Be sure to like us on Facebook as well: http://facebook.com/banksconsultancy
Views: 1948 Banks Consultancy
ACC 205 A+ Work  WEEK 4
http://trustedanswers.blogspot.in/2013/12/acc-205-work-week-4.html 1. Current Liability What is a current liability? From the perspective of a user of financial statements, why do you believe current liabilities are separated from long-term liabilities? Based on your current experience as well as and any additional research you may have done provide two examples of situations where businesses collect monies from customers and employees and report these amounts as a current liability. 2. Client Recommendations A client comes to you thinking about starting a consulting business. Your client is specifically interested in what type of entity should be created for this new business. Based on your readings or any additional research you may have done, discuss the advantages and disadvantages of the following: sole proprietorship, partnership, and corporation. Based on these advantages and disadvantages provide a clear recommendation to your client. 3.Future Obligations Journal The current liability section of the balance sheet lists the liabilities that are due within the next 12 months. Reflecting on your current financial situation, apply the concept of current liabilities. What does this analysis tell you about your future obligations? What did you learn from this experience? Week Four Exercise Assignment Liability 1. Prepayments by customers. Greenland Enterprises began a new magazine in the fourth quarter of 19X2. Annual subscriptions, which cost $18 each, were sold as follows: If subscriptions begin (and magazines are sent) in the month of sale: 2. Notes payable. Sentry Security Systems purchased $72,000 of office equipment on April 1, 19X3, by signing a three-year, 12% note payable to Sharp, Inc. One-third of the principal, along with interest on the outstanding balance, is payable each April 1 until maturity. (The first payment is due in 19X4.) A. Fill in the following table to reflect Sentry's liabilities, assuming a March 31 year-end. B. Assuming that interest is properly recorded at the end of each year, present the proper journal entry to record the last payment on April 1, 19X6. 3.Notes payable. Red Bank Enterprises was involved in the following transactions during the fiscal year ended October 31: Aug. 2 Borrowed $75,000 from the Bank of Kingsville by signing a 120-day note for $79,000. 20 Issued a $40,000 note to Harris Motors for the purchase of a $40,000 delivery truck. The note is due in 180 days and car¬ries a 12% interest rate. Sept. 10 Purchased merchandise from Pans Enterprises in the amount of $15,000. Issued a 30-day, 12% note in settlement of the balance owed. 11 Issued a $60,000 note to Datatex Equipment in settlement of an overdue account payable of the same amount. The note is due in 30 days and carries a 14% interest rate. Oct. 10 The note to Paris Enterprises was paid in full. 11 The note to Datatex Equipment was due today, but insuffi¬cient funds were available for payment. Management autho¬rized the issuance of a new 20-day, 18% note for $60,700, the maturity value of the original obligation. 31 The new note to Datatex Equipment was paid in full. 4. Partner investments; journal entries. The LP partnership was formed on January 1, 19X7, by investments from Bill Levy and Marv Parcells. Levy contributed $30,000 cash and $80,000 of land. Parcells contributed various assets from a business that he had operated over the past five years. A balance sheet from that business disclosed the following: The partners confirmed that the allowance for uncollectible accounts should be decreased by $600. In addition, an independent appraisal deter¬mined that fair market values of the land and equipment on January 1 were $125,000 and $35,000, respectively. Prepare the journal entries needed to record the investments of Levy and Parcells. 5.Income distribution: Different arrangements. Frank, Gatti, and Hogan recently invested 530,000 each and formed the Apex partnership. During the first year of operation, the business gener¬ated a net income of $39,000. Determine the proper division of income among the partners for the following independent cases: 1. Income is divided on the basis of a ratio of the beginning capital invest¬ments. 2. Partners are allowed 12% interest on their investments; the remaining profits and losses are allocated on a 6 :1 :3 basis. 3. Frank and Hogan each receive salary allowances of $24,000 per year; the remaining profits and losses are shared equally. 6.Investment by partners; financial statements. Abram, Haas, and Tidwell formed a partnership to practice law by com¬bining their respective sole proprietorships. The assets and liabilities con¬tributed to the firm on January 2, 19X4, the date of formation, follow.
Views: 449 Robin Anderson
How To Find The Market Rents for Your Chester Property Investments
In this video we focus on Chester and it will show you in 7 minutes how to quickly find what the Market Rents could be for your Property Investments It will show you how to find what rents professional tenants might be willing to pay and also how to find what the Local Housing Allowance is for the area. For the full article on finding market rents and the best locations in Chester please visit - http://propertyinvestmentsuk.co.uk/best-place-to-invest-in-property/property-investment-chester/ For further information on Property Investments UK & help on building your property portfolio please visit - Home - http://propertyinvestmentsuk.co.uk Free Property Training - http://propertyinvestmentsuk.co.uk/property-training Property Mentorship - http://propertyinvestmentsuk.co.uk/property-investment-courses/ Live Property Deals - http://propertyinvestmentsuk.co.uk/live-property-deals
How to Fill Out a W-4 When Married, but Separated : Taxes, Insurance & Investment Tips
Subscribe Now: http://www.youtube.com/subscription_center?add_user=Ehowfinance Watch More: http://www.youtube.com/Ehowfinance If you're currently married but separated, you will have to fill out your W4 form in a very particular way. Fill out a W4 when you are married but separated with help from a certified financial analyst in this free video clip. Expert: Noah Rosenfarb Bio: Noah Rosenfarb is a certified divorce financial analyst with Freedom Divorce Advisers. Filmmaker: Luis Trueba Series Description: Whether you're running your own business or are just an employee, at some point you will have to sit down and take a very serious look at your taxes. Get tips on issues that people face when it comes to dealing with taxes and the Internal Revenue Service with help from a certified financial analyst in this free video series.
Views: 3954 ehowfinance
The Missing Trillions  who the real criminals of the new world order are !!!
Do NOT use the text "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use." in the box, as that doesn't explain why your video qualifies as fair use.
Views: 62 peter carter
Bond Issue (Bond Retired Between Interest Dates, Amortized, Gain Realized, Interest Expense)
Accounting for a bond retired between interest dates, gain at redemption based on reacquisition price and accrued interest, example Corp-A issued $900,000 of 12%, 10-year bonds at 106 (106%) on (5/1/20X1), on (4/1/20X2) bonds of par value of $360,000 are called at 102 (102%) plus accrued interest and bonds are retired, interest is payable semi-annually on (1/1) and (7/1), Bonds are dated (1/1/20X1), Corp-A uses the Straight-Line Method of amortization for bond premium or discount, Straight-Line Method (amortization months): Total months (10 yrs x 12 mths = 120 mths), Amortized mths (120 mths - 4 mths issue = 116 mths amort.), Actual amortized since Bond issued 11 mths after stated date:, (Bond stated date 1/1/20X1, issued on 5/1/20X1 & retired on 4/1/20X2), (8 mths in 20X1 & 3 mths 20X2 = 11 mths total), (116 mths - 11 mths) = 105 mths remains after retirement, based on example a gain is recognized on redemption of the bonds, detailed accounting by Allen Mursau
Views: 1787 Allen Mursau
Session 22 NHS Pensions Scheme
This session was delivered by Bryan Freake, Unite the Union Pensions Officer PLEASE NOTE THE FOLLOWING: The 1995 section payment can be drawn at 60 without reduction instead of 50 years of age. The accrual rate is 1/54 in the new CARE scheme.
Views: 1735 UniteCPHVA
Income Tax Filing - ITR1 (HRA, Conveyance, Food Coupon, LTA & Medical) - bse2nse.com
Video by http://bse2nse.com This video shows how to file your taxes online ... More specifically how to pick values from your Form 16 and fill up ITR1
Views: 127164 Manikandan R
The New Canada Hong Kong Tax Treaty: Issues and Opportunities
Webcast sponsored by the Irving K. Barber Learning Centre and hosted by UBC Law. With recent changes to the law, this panel discusses: general purpose and structure of tax treaties; domestic tax systems in Hong Kong and China; key features of the treaty; and opportunities for investment to and from Hong Kong and China. Speakers: Wei Cui, David Duff, Barry MacDonald (Partner, Tax Services, PwC), Lori Mathison (Managing Partner, Dentons)
Text Alertz Review
This Kim Reese and I have conducted many product reviews this year and this is a product review on Text Alertz. http://www.5linx.net/rcsuccessbiz/opportunity What is Text Alertz Text Alertz is an easy, effective and affordable mobile marketing solution that can help your business reduce costs and increase sales. We take the confusion out of text marketing by providing you with a simple, web-based platform that allows you to communicate instantly with your customers, employees, or prospects. It's as easy as typing in your message, selecting the list or lists you'd like to receive the message, and clicking "go". Use Text Alertz to... Send time-sensitive announcements Promote coupons or special offers Share links to videos or web sites Provide valuable contact information The list of uses is endless, so let us show you how Text Alertz can help YOUR business. Text Alertz offers a solution that fits your needs, with pricing designed to be simple, flexible and affordable. Your most valuable asset is your customer database. Text Alertz allows you to not only grow that list, but also enhance your relationship with everyone on it. This is not just another "cost of doing business"... This is a wise investment in your customers; an investment that will pay for itself many times over. All Text Alertz plans include the following: Express message delivery why is this important? Unlimited mobile web sites w/ FREE hosting Unlimited Contacts and Groups Built-in FREE QR Code builder Lead notification by text or email Email capture and auto responder functions Voting, Polling & Survey Capabilities No Contracts—Easy Month-to-Month billing Cost—$60.00-$1500.00 (vary based on number of key words and number of messages per month ) Text Alertz is offered by 5 Linx. To purchase Text Alertz click here:http://www.5linx.net/rcsuccessbiz/products 5 Linx was launched in 2001 with the simple philosophy "Representatives Come First". 5 Linx has thrived by staying true to this mission as a matter fact this company has experienced over 800% growth since 2010 and was named in INC. 500 as one of the fastest growing companies for the last 5 years. 5lINXs has been Featured in Your Business At Home Direct Selling News, and Rochester Top 100.The co founders (Craig Jerebeck, Jason Guck, Jeb Tyler) are real people who appreciate the representatives and run the company like a well oiled machine. The 5 Linx opportunity is unique in that the independent representatives market products that virtually everyone needs and is already paying for. The company puts its reps in the unique position of being able to make money while saving people money. There is no better business Model than that—anywhere. Yet the real secret of the 5 Linx success system is that you can as a independent marketing representative money several different ways. That's because 5 Linx allows the representative to leverage the power of Residual Income which means the representative can earn income month after month, year after year on customers they acquired only one time. 5 Linx—The Opportunity 5 Linx offers, in addition to earning residual income, the ability to explode the representative income potential by building a team of business partners. Each representative can earn additional bonuses and residuals by helping their team acquire customers. As a 5Linx representative you have the opportunity to earn monthly income on every service offered, in addition each earned positioned achieved qualifies the representative for an increase level of bonus. 5 Linx rewards top producers with incentives such as annual vacations, stock options, and a car allowance toward a silver BMW of their choice and when achieving Platinum SVP representatives are awarded a Bentley and additional stock options. With the 5 Linx residual income model allows you to create the Life of your Dreams. To find out how you can become part of this great business click here: http://www.5linx.net/rcsuccessbiz/opportunity Warm Regards, Kim Reese Click Here to order Text Alsrtz: http://www.5linx.net/rcsuccessbiz/products Text Alertz Review
Views: 628 Kim Reese
Union Budget for 2013-14 of India presented by Finance Minister Chidambaram part-2
Union Budget 2013: highlights Leather products get cheaper Mobile phones, dinning out, cigarettes, SUVs, motorbikes, set-up boxes get expensive (Read) Excise duty on cigarettes raised by 18 per cent Mobile Phones, SUVs to get more expensive: On mobile phones priced at more than Rs. 2000, excise duty hiked to 6%. Excise duty on SUVs raised from 27% to 30% Duty free limit for Gold raised to Rs. 50,000 in case of a male passenger and Rs. 1 lakh for female passengers The current slabs were introduced last year. Hence there is no case of revising either (Read) Some tax credit of Rs. 2000 for every person who has an annual income of upto Rs. 5 lakh Tax Administration Reforms Commission to be set up to review tax laws In 2007-08 Tax GDP ratio touched a peak; in short term we must regain that peak The current slabs were introduced last year. Hence there is no case of revising them But will give some tax relief of Rs. 2000 for every person who has an annual income of up to Rs. 5 lakh Rs. 1000-crore Nirbhaya Fund announced for the empowerment of women (Read) All Regional Rural Banks and cooperative banks to be e-linked by this year-end National Housing Bank (NHB) to set up urban housing bank fund and Rs. 2,000 crore will be allocated in this regard Standing Council of Experts in Ministry of Finance to examine transaction cost of doing business in India Rs. 14,000 crore capital infusion into public sector banks in 2013-14 PSU banks to have ATMs at all their branches by March 31, 2014 Rs. 6,000 crore to be allocated for rural housing fund in 2013-14 Defence allocation increased to Rs. 2.03 lakh crore Rs. 6,275 crore to ministry of science and technology, Rs. 5,880 crore to Department of Atomic Energy Coal imports during Apr-Dec 2012 crossed 100 million tonnes and expected to go up to 185 million tonnes in 2016-17 Finance Minster asks state governments to prepare financial restructuring plan for power distribution companies at the earliest. Simpler SEBI rules:Securities and Exchange Board of India to simplify procedures for foreign portfolio investors Two new ports to be set up in West Bengal and Andhra Pradesh to ad 100 million tonnes handling capacity Gas handling terminal at Dabhol in Maharashtra to be fully operational during 2013-14 State governments urged to sign restructuring plans with electricity discoms Tax-free infrastructure bonds of Rs.50,000 crore to be issued Textile ministry allocated Rs.50 crore for establishing apparel parks Handloom sector allocated Rs.96 crore to benefit 150,000 weavers Infrastructure debt funds to be encouraged Regulator to be appointed for road projects; 3,000 km of road projects to be awarded in first six months of 2013-14 Incentive allowance of 15 percent over and above permitted depreciation to those investing over Rs.100 crore in infrastructure projects Rajiv Gandhi Equity Scheme to be liberalised Seven new cities identified along Delhi-Mumbai Industrial Corridor Preliminary work begun on Bangalore-Mumbai Industrial corridor Foodgrain production during 2013-13 estimated at 250 million tonnes Household sector must be incentivised to save in financial instruments rather than gold. Person taking a home loan for his first home during the period 2013-14 will be entitled to an additional deduction of Rs. 1 lakh, announces Mr Chidambaram Re-financing capacity of SIDBI increased to Rs. 10,000 crore from Rs. 5,000 crore for Ministry of Small and Medium Enterprises Rs. 27,049 crore allocation to the Agriculture Ministry in 2013-14 Rs. 7 lakh crore target fixed for agriculture credit for 2013-14 compared to Rs. 5.75 lakh crore in the current year. Eastern Indian states to get Rs. 1,000 crore allocation for improving agricultural production Infrastructure Development Funds will be encouraged Funds to raise resources for the development Govt committed to food security bill. 10,000 crores set apart for expenditure likely under the act Rs. 37,330 crore allocated for Ministry of Health & Family Welfare Rs. 110 crore to be allocated to the department of disability affairs Rs. 3511 crore allocated to Minority Affairs Ministry which is 60 per cent of the revised estimates Additional sum of Rs. 200 crore to Women and Child Welfare Ministry to address issues of vulnerable women Rs. 37,330 crore allocated for Ministry of Health & Family Welfare.
Views: 415 Gujarat Headline
South Of Madrid
Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.* To whom it may concern, this channel has been set up to help people find good content to watch and then discuss... the sole purpose is to support the film makers who tirelessly devote themselves to subjects that do not hit the "main stream".... if any content is not willingly supported by the copyright owner please let us know and we will remove it straight away. thanks , and happy tubing... Cafe Cache Spain - Even Worse than Greece? Why House Prices Plunge in Spain Again Spain -- The Next Domino Is Getting Ready to Tumble It is well known that Spain's economy is in a depression, and we do not use this term lightly. With the official unemployment rate at about 23% and youth unemployment close to 50% it is not an exaggeration to speak of a depression. The probability of social upheaval erupting with greater frequency is extremely high. We already noted that the general strike recently called for by Spain's unions is only the fifth since the end of the Franco regime in 1975. It is a rare event in Spain and underscores the decline in the social mood and the growing desperation. Those who still have work want to protect their privileges and use the unemployed as their political weapon. Meanwhile, Spain's banks are quietly sinking beneath the waves. They are the quintessential zombies, especially the insolvent cajas, which are drowning in real estate related assets that see the value of their collateral inexorably spiraling down the drain (as an aside here: the Fed's recent 'stress test' of US banks possibly has not taken sufficient account of this 'moving target problem'; as we have seen mentioned elsewhere, it also failed to consider the remote possibility that treasury bonds may decline more than it currently widely expected). But let's return to Spain. The WSJ reports on the latest house price data, and keep in mind here that these are the 'official' and hence doctored in every imaginable way, data. The plunge in house prices is in fact accelerating. "Spanish house prices tumbled at their fastest pace on record in the fourth quarter, a sign that a long-running property bust will continue to weigh on Spanish households and banks. House prices fell on average by 11.2% in the fourth quarter from the same period a year earlier, well below the 7.4% decline in the third quarter, while prices of used homes was down 13.7% in the period, the country's statistics agency INE said Thursday. Both readings are by far the worst since INE started recording countrywide prices in 2007, the peak year for Spain's decade-long property boom. Previously, annual price declines had bottomed out at 7.7% in 2009, and analysts say house prices have only rarely fallen year-to-year since at least the 1970s. The drop indicates Spanish property prices are now correcting at a similar pace to that seen in the U.S. soon after the 2008 financial crisis, and may fall further at least this year. In previous quarters, price drops were somewhat contained, the result of support efforts by the government and banks, fearful of the effect of a housing collapse. Spanish banks hold more than €400 billion ($521.32 billion) worth of loans to the construction and real-estate sector, backed by collateral that loses value as property prices slide further. The amount is equivalent to around 40% of Spain's gross domestic product. (emphasis added)
Views: 215 CafeCache
NHS Pensions and Pension Tax Planning for Doctors and other NHS Pension Members
Retired GP, Brian had an NHS pension that almost overnight increased in value so much that he would have faced a 55% tax bill on his pension holding above the £1.5 million Lifetime Allowance (LTA). Then, just a few months ago Brian discovered he had two other personal pensions that would have meant an even higher tax bill. Well versed in the peculiarities of NHS pensions, his Financial Planner, Nicola Downs of Trentham Invest had taken precautions to ensure he was not hit by these 'tax bullets'. See his story here. If you are an NHS Pension member and approaching retirement, call Nicola on 01306 881999 or visit http://www.TrenthamInvest.co.uk
Views: 1143 Trentham Invest
Chapter 12 Homework A (Question #3 - 5) Exerecise 12-5
[The following information applies to the questions displayed below.] Cosmo and Ellis began a partnership by investing $70,000 and $61,000, respectively. During its first year, the partnership earned $170,000. Prepare calculations showing how the $170,000 income should be allocated to the partners under each of the following three separate plans for sharing income and loss: 3. (1) The partners failed to agree on a method to share income. (Omit the "$" sign in your response.) 4. (2) The partners agreed to share income and loss in proportion to their initial investments. (Do not round your intermediate calculations. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.) 5. (3) The partners agreed to share income by granting a $53,000 per year salary allowance to Cosmo, a $43,000 per year salary allowance to Ellis, 11% interest on their initial capital investments, and the remaining balance shared equally. (Amounts to be deducted and losses should be indicated with a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)
Views: 5465 FacebookMarketingCom
To-do list for RBS chief
RBS has confirmed that its head of retail, Ross McEwan, will become chief executive, replacing Stephen Hester. Lex's Vincent Boland and Oliver Ralph discuss whether Mr McEwan will be able to make his mark on the bank and steer it back to the private sector. For more video content from the Financial Times, visit http://www.FT.com/video
Views: 542 Financial Times
Making The Most Of Your Annual Cgt Exemption On Your Shares - Part 2
Visit Us Today! http://www.wealthprotectionreport.co.uk Online Tax Planning and Tax Publishing View Our Latest... Making The Most Of Your Annual Cgt Exemption On Your Shares - Part 2 Bed & ISA An alternative method of avoiding the share matching rules is to repurchase shares through an ISA. The ISA is regarded as the new legal owner in the eyes of the taxman and therefore you can avoid the 30-day matching rule. Bed & Options or Bed & Spread Bet There's nothing stopping you from selling your shares to take advantage of your CGT exemption and covering your position for 30 days using either options or other derivatives or a spread betting contract. Naturally you have to know what you're doing but this tactic would completely avoid the share matching rules. Profits from spread betting are completely tax free, profits from derivatives trades are generally subject to CGT so you would have to do your number crunching and see if the exercise is worthwhile. Similar Shares or Funds Let's say you've already used up your ISA allowance, your investments are owned jointly with your spouse and you don't fancy using derivatives or other complicated financial assets. However, you do have some handsome profits and would like to use up your annual CGT exemption. One option is to simply purchase similar shares or invest in a similar fund. This is, of course, the second-best option but may well be worth considering. Sit it Out for 30 Days Another alternative is to simply sell your investment, wait for 30 days and then reinvest. Here you have to weigh up your tax savings with the potential for the share price to rise. Visit Us Today! http://www.wealthprotectionreport.co.uk Online Tax Planning and Tax Publishing View Our Latest...
Views: 110 UKtaxplanning

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