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Individual Retirement Account (IRA) - An IRA is a personal savings plan which allows an individual to make cash contributions per year dependent on individual's adjusted gross income and participation in an employer's retirement plan. Under a traditional IRA these earnings aren't taxable until the time of withdrawal from the plan.
Bob and Carl transfer property to Stone Corporation for 90% and 10% of Stone Stock, respectively. Pursuant to a biding agreement concluded before the transfer, Bob sells half of hi
31 VAT WAS FIRST INTRODUCED AS A TAX IN WHICH YEAR AND IN WHICH COUNTRY?
Alan is an employee at ABC Pty Ltd (ABC). He has negotiated the following remuneration package with ABC: • salary of $300,000; • Payment of Alan''s mobile phone bill ($220 per mont
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Ben Grimm is a 40% partner in We Four, LLC a super-heroing organization. (He does most of the heavy lifting. Reed has 40%, he is the brains. Sue has 10%--they never see her doin
The use by a corporation of the losses it continued in earlier years to compensate taxes on the profits it attains in future years. Individuals can also utilize a tax umbrella so t
An unsecured short-term loan, generally issued to finance short-term liabilities, which gives the debt holders (bondholders) some level of tax choice on the earnings from their deb
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William Potter is a plumber currently operating as a Sole Trader in Levin. William has approached you, a tax accountant, for your advice on certain tax matters. William's brothe
David builds and maintains web applications for a number of clients. He does a majority of his work from his home office, but he frequently drives to the client site to meet with h
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