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Taxation 2




You just hired a former individual tax preparer to be in your tax accounting department. While she has a degree in taxation, all her experience has focused on individual returns.;To make sure she completely understands the differences between individual and business tax accounting, you ask her to review some of the materials from her college courses in taxation.;You have asked her to prepare a report of 450?600 words on the following topics;Specifically, how the treatment of the following items differs between individual and business income tax accounting;depreciation;double taxation;dividends;Using the following information for b and c, create a brief numerical result demonstrating the impact of different tax treatment for individuals versus businesses.;For b, assume taxable income of a corporation is $100,000 and it subsequently pays out $100,000 in dividends to all its shareholders.;For c, assume a corporation gets dividends of $10,000 from another company, and it happens to be in the 34% tax bracket versus an individual in any bracket.


Paper#77807 | Written in 18-Jul-2015

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