Taxes
← North America | The Decision to Drop the Atomic Bomb on Japan → |
The term tax originally emanated from a Latin word taxo that meant I estimate. It was basically used to impose certain financial charges upon the people or the taxpayers, individuals and even legal entities by a state or any authorized body on condition that anyone that failed to do as per the requirements was subjected to certain form of punishment under the constituted law governing the running of the exercise. Until today, the exercise has achieved great and almost all nations are relying on it as a source of revenue to the states. In the current world, tax can be defined as a responsibility put upon an individual and even the owners of the various properties to give support to their government. The payment of tax is neither voluntary nor a donation but an enforced contribution that is exacted pursuant to any legislative authority by any government in authority. Economists view this exercise as a non-penal but a compulsory transfer of the finances from or resources from the available, private sources to the public sectors using particular criteria without consideration in terms of the income. Taxes can both be paid directly or indirectly and can either be paid in terms of money or labor form that is equivalent. In the olden days, tax was paid in forms of in kind and corvee especially in the pre capitalist societies and other equivalent functionalities un like today where money is used as the only medium of the tax payment. In addition to this, it can be either under the name of toll, tallage, tribute, impost, gabel, aid, subsidy, custom and even supply. According to Atkinson, 1977 indirect and direct tax vary from each other basing on terms and contexts. Direct tax was imposed on individuals characteristics of the tax payer for instance the income tax is basically direct tax that are based on any ownership of the property or the simple existence and some one and his property, poll tax and property taxes. While indirect tax is that that is levied on the rights, privileges and the activities, or generally the transactions on the activities of the buyer and the seller for instance the tax on the sale of the property.
Tax memoranda
Technical advice memorandum 254157, 5/05/1995, IRC Sec (s) of Jimmy Rudd, TX 27564 Chicago, ID. No: 284640001 a member of golf and tennis clubs. According to the market loan rates loan rules as significant effect loans under code Sec. 7872 (c) (1)(E), any membership dues that the club which is a tax payer received from any member are treated as non taxable loans and therefore not income. This is basically because the taxpayer or the club of which you are a member is obliged to the refund of the deposits in 30 years just incase it haven’t done so. According to the membership regulations, the deposits are neither used in the buying of the delinquencies to the members nor advance payments but the deposits are not subject to market-loan rules.
The fact of the matter in this memorandum is that once a member has joined the club, he is bound by the regulations of the club through which he signs the membership form that consists all the regulations of the club membership. According to the codes of the club membership, every member that pays the deposit fee is always issued with a promissory note stating that the deposits issued to the club will be refunded to him after the clubs completion of its developments with no interest at all in a period not less than thirty years.
Therefore, if interest were surcharged on this deposit by the lender or any member of the club during the repayment, he would not be accorded due to the tax regulation. The borrower is in this case the one who might have paid tax for it but not the lender and there fore any money that is not to subject of tax could not gain any interest to the lender according to Section1.61-1 (a) of the income tax regulations.
In conclusion, the membership deposits for the clubs received by the taxpayer are not subject to tax according o section 61 of the tax code. Also under section 7872 (c)(1)(E) of the code, the club membership deposits received by the taxpayer are therefore not subject to any form of imputation at all.
The tax memorandum research of Diane Marlbury passive activity losses, 7/19/2010. Although this amended by the treasury in reflection to the adjustments made by P.L 103-66, it states that in case of any interest in the property that has been used in the activity seem to be substantially appreciated at the time of disposition then the gain from the disposition shall therefore be treated as not from the passive activity unless the interest in the property was used in the passive activity which applies to the case of Diane.
It will be possible for Diane to commence positive with the planned programme of her investment in another property in accordance to the regulations there under. It states that ban interest in property is treated as an interest in property held for investment for any period during which the interest is held through a C corporation or the similar entity of which a C corporation is the owners interest in the entity to derive only portfolio income as per 61.469-2T for the interests.
- The Decision to Drop the Atomic Bomb on Japan
- Should Teachers Carry Weapons
- North America
- Assess the short-term impact of Helmut Kohl on Germany's role in Europe
![]() |
Doreen A.
Malibu, CA
|
|
Due to a family emergency, I was unable to complete a very important paper. Thanks to EssaysEmpire.com, I was able to hand in a well written paper and not sacrifice my grade. I will be forever grateful to your writing service for providing such outstanding work. Thank you so much. |
![]() |
Della M.
Belfast, IR
|
|
I had to turn on my laptop for the express purpose of writing to you. I had to let you know what lifesavers you people are! I had never even considered hiring a professional writer to help me and was almost resigned to dropping out of school altogether. Then, I thought about it, and asked myself what it would hurt to try EssaysEmpire.com for just one paper. That paper was written astonishingly well! From that one paper, I learned many of the things that I did not know about writing. It was perfect, so I learned all about formatting in the APA style. I learned a lot, so I want to thank you for that. |
![]() |
Phil E.
South Hadley, MA
|
|
So often, when one deals with customer service, he or she is treated rudely. That was not the case with EssaysEmpire.com. The agents were helpful and friendly, knowledable and concerned. I, for one, was astounded with their competence. When it came down to the actual written material that I ordered, it was much better than I had anticipated. There are clearly some expert writers who work for EssaysEmpire.com. I would rate this writing service as exceptional, 5 stars out of 5 stars. I will happily return when I need help with another written work. |
![]() |
Royce E.
Dallas, TX
|
|
I first approached EssaysEmpire.com with skepticism. However, now, I have none. I am convinced that you are probably the best writing service on the Internet. Plus, you don’t overcharge, as so many writing services do. Thank you for the quality writing at affordable prices. You offer such a valuable service to students such as me. |
![]() |
Thomas C.
Louisville, KY
|
|
I loved the paper that your writers helped me with. They wrote from a very interesting perspective that I had never even considered. My teacher was happy with the work, and so was I. Thank you very much. |
![]() |
Glynnis H.
Ft. Smith, AR
|
|
Hello! I just had to stop what I was doing to let you know how grateful I am that I found your excellent writing service. I have had to use you three times now, and each time, I have been 100% satisfied with the work that you did. Your writers are absolutely outstanding. I am very, very happy with everything you have written for me. |
![]() |
Bruce R.
Tulsa, OK
|
|
Thanks for everything. You guys know how to write so well! I will call on you again in the future. |
![]() |
Mike G.
Rochester, NY
|
|
Your writing service is different from other writing services. Yours is the only one I have ever dealt with that I can truthfully say is legitimate. The staff is very professional. The writers are the best in the business. I am pleased with the results of my last three orders and plan to return for more soon. |
![]() |
Sharon S.
Dallas, TX
|
|
I greatly appreciate your assistance. Writing has never been my strong point. When I needed help, EssaysEmpire.com gave it to me. I am completely satisfied! |
![]() |
Nancy T.
Little Rock, AR
|
|
The quality of the work produced by your professional writers is second to none. No wonder you have the reputation for being the best writing service online! You certainly met up to all of my expectations! You’re the best, for sure. |
![]() |
Marcy V.
Paris, FR
|
|
Given the short amount of time I gave your writers to create my term paper, I was amazed by how good it was when I received it back! It appeared they had spent months writing it, rather than just one week. Thank you, EssaysEmpire.com! I enjoyed doing business with you. You are a fabulous writing company. |
![]() |
Sarah M.
Portland, OR
|
|
Today was the perfect day to make an A+! It convinced me that there are solutions to problems that seem impossible to solve. When I realized that the due date for my paper was coming up quickly, I felt like there was nothing I could do. If I didn’t hand in my paper on time, I would get an F and fail the course. However, I had to study for 3 major exams and write two other papers. My roommate suggested that I turn the paper over to you guys, which I did, and voila! I got an A+ on it and the problem was solved. Thank you, EssaysEmpire.com and to your writers and staff. You are a great writing service. |
![]() |
Bruce B.
Purcell, OK
|
|
I had a hard time articulating what my professor wanted, so I was able to speak straight to my writer. After I had explained a little bit, I could tell he understood everything. He then took the ball and ran with it, so to speak. He wrote my paper in two days and it was the picture of perfection! I am very grateful that he knew what to do and how to do it so perfectly. |
![]() |
Alexandra Z.
Dallas, TX
|
|
I am sitting here reading over what your writing service offers and I just realized that you are the only one that offers free rewrites and full guarantees on your work. This tells me that you are an honest company that I want to do business with. |
![]() |
Jeff M.
Baltimore, MD
|
|
I would like to commend your excellent writers for a job well done. They followed my directions to a tee. Thank you, EssaysEmpire.com for being who you are and for doing what you do. There is no better writing service anywhere. |
![]() |
Jaffar M.
Salt Lake City, UT
|
|
My sincere thanks for a job well done. My professor loved my paper and commended me for handing in the one that your writing service helped me with. The paper flowed very well. It was logical and intelligent-sounding. I was very pleased overall. |
![]() |
Shirley R.
Casper, WY
|
|
I would be honored to recommend your writing service to all of my friends. I don’t usually recommend anything unless I truly believe it to be a good thing. EssaysEmpire.com is a good thing! |
![]() |
Langley R.
Los Angeles, CA
|
|
One of the things that I appreciate most about EssaysEmpire.com, is that they don’t resell your paper. Only you own it, if you hire them to write something. Other writing services that I have used, just circulate the same paper over and over, and if you get caught turning one in, too bad. You are expelled. EssaysEmpire.com will even give you a plagiarism report after they run it through their anti-plagiarism check. Such details set EssaysEmpire.com above the rest. |
![]() |
Barry M.
Seattle, WA.
|
|
BRAVO! EssaysEmpire.com has done it again. I have just received another A+ for an EssaysEmpire.com paper! Thanks!Thanks! |
![]() |
Marcella M.
Lexington, KY
|
|
Dear EssaysEmpire.com, I am very happy with the work that your writers did for me. I was impressed by the plagiarism report, too. Thanks for everything! |