It would be my advice for Mr. Jones to not buy the stock because of the liability of current and future tax obligations which Mr. Jones would incur from the purchase of the stock. Since the tax identity of Smithon corporation would have not ceased, it is not a favorable purchase for Mr. Jones. Ina a case where the tax identity of a firm does not cease not to exist, the tax aspects will remain the same and so will the existing tax schedule. So in this case it would mean that Mr. Jones would not be allowed to change the financial year to end on December 31. The buyer in cases where he can’t change the legal entity is in a non -benefice situation, the buyer is limited to follow the current tax basis on the company’s assets even if the buyer paid more for the
The interoperability was never put into place for reasons that can only be speculated on. There are assumptions that Grant Holcomb the architect of the proposed system had a conflict of interest that may have profited him. There are also allegations that Greg Meffert, Nagin's chief technology officer, stated that the technology wouldn't work. Many controversial issues of being unethical by several parties involved in this system caused a delay that unfortunately wasn’t in play for Katrina. Interoperability is dangerous to the concept of Federalism because although New Orleans was granted money to fund the system by the national government, at the state level, it was never implemented.
1. What are the key risks that Yorktown is currently facing? Explain how those risks will affect financial statement risk (FSR), explain the impact ofgFSR (ie. is it pervasive or does it impact specific accounts and assertions) the and how the risks will impact the audit. (Use the table below to answer your question).
November 13, 2011 TAX FILE MEMORANDUM FROM Annon SUBJECT MegaCorp, Inc. and Business Expense Today I spoke with our client, Peaceful MegaCorp, Inc. regarding their recent audit notice from the IRS. They want to know if the IRS is correct when they told MegaCorp, Inc. that they couldn't characterize the $5 million payment to Ideas, Inc. as necessary business expense. Instead, they need to characterize it as a capital expenditure, so they won't be able to deduct this payment. FACTS MegaCorp, Inc. purchased a company called Little, Inc. including all their assets and liabilities. Prior to the purchase, Little was involved in a patent infringement with Ideas, Inc. MegaCorp, Inc. agreed to pay $5 million in damages, and deduct it as necessary business expense.
However, people were keeping complain about new technology. New technology would make them much safe than before. See what happened on 9/11 because that time, there was no new technology that they setting up at the checkpoint in the airport. Third reason article was wonderful point because TSA would protect them from the bomb in the airplane. That is why TSA setup new technology at the checkpoint.
Contracts #9 Model Answer The purpose of this assignment is to examine how mistakes on the part of both Buyer and Seller can affect a transaction. For the purpose of this assignment, since there are no facts to the contrary, we must assume that Bob is an honest merchant and any mistake or misrepresentation he made was an honest mistake with no intent to deceive. We will also rely on the fact that Bob was an attorney and since he only recently went into the pet store business, has little or no expertise about dogs. He is therefore relying upon the breeder’s representations as accurate and truthful. We must also assume that Sally and Sarah are also ignorant since the facts do not indicate that they have any special knowledge of dogs.
The most that our society can do it say don’t bully other people, which I have personally experienced does not mean that people will not bully others. As a society though, it may give us a sort of closure so that we do not question ourselves about what caused it. It could be from bullying to a drug problem for all we know. 2. What lessons can be learned from Va Tech?
The U-phone can help with politicians and legal people doing business from the comfort of their homes but I don’t know if this will last. Natural Environment Natural environmental trends deal with the changes of the earth. (Mullins & Walker, 2010). I don’t believe that this will have a significant impact on my product unless a hug storm comes through and destroy all of the cell towers leaving the product with no signals at all. But I believe consumers would remain with the carrier because it’s good quality.
As a parole plan, the team advised the best for Stanley, but unfortunately he was not ready to change his lifestyle. There is nothing our team could have done for Gavas until he is ready to change his life for the better. Kenneth Stanfield has done well with the plan the team assigned for him. He follows the plan and has been drug-free according to the drug screenings. Our plans as a team for Stanfield have been fine and in the future if any changes have to be made, the team will reconsider the evaluations for
In some jurisdictions the charity must have reliance on the promise but in others reliance is not necessary. The concept of quasi contract is somewhat similar in that such contracts have the same effect of enforcing a promise in order to avoid an unjust result, however in such cases there had been no promise in the first place. One case in which the court applied the doctrine to render a contract otherwise lacking in consideration enforceable was McIntosh v. Murphy. That case involved a verbal agreement to hire the plaintiff at the defendant’s auto dealership in Hawaii for one year. After moving all the way to Hawaii he was fired two month later.