Determine what the ethical considerations in situation

Assignment Help Accounting Basics
Reference no: EM13137038

Search the Internet for at least four (4) stories about major charitable contributions by individuals, including Bill Gates, Warren Buffett, Steve Jobs, and at least one (1) other individual. Be mindful that you are not researching foundations, such as the Bill and Melinda Gates Foundation for this assignment.

Write a 3-4 page paper in which you:

For each article, determine the appropriateness of the charitable contribution based on IRS tax rules.
For each article, discuss the tax issues related to the contributions.

Determine what the ethical considerations in this situation might be and their impact on future charitable contributions.

As a tax expert, discuss whether or not you would advise the taxpayer to make charitable contributions in the future.

Reference no: EM13137038

Questions Cloud

What is preferred stock : Capital stock is an important area of a corporation's equity section. Generally the term "capital stock" embraces common and preferred stock issued by a corporation.
Benefits of referral bonuses : Some companies pay current employees a referral bonus if a job candidate that the employee referred is hired by the company. What do you think of this practice?
Recruitment measures for tech-engineering personnel : Identify issues in the current business environment that affect the demand and supply of engineering and technical personnel. Describe specific measures and techniques that progressive companies are using to recruit and select people with these bac..
Grades should be considered by employers? why or why not? : Do you think grades should be considered by employers? Why or why not?
Determine what the ethical considerations in situation : Search the Internet for at least four (4) stories about major charitable contributions by individuals, including Bill Gates, Warren Buffett, Steve Jobs, and at least one (1) other individual. Be mindful that you are not researching foundations, su..
What is the noncontrolling interest in juvyn net income : During the current year, Horton reported operational income of $160,000 and dividend income from Juvyn of $160,000 and dividend income from Juvyn of $27,000. At the same time, Juvyn reported operational income of $50,000 and dividend income from H..
Find probability that satisfactory robot will be overhauled : Proportion of out-of-tolerance items is greater than 0.02, the robot will be overhauled. Otherwise it will be allowed to continue operating. What is the probability that a satisfactory robot will be overhauled unnecessarily?
Feedback-performance management technique : What are the pros and cons (at least three each) of the method as well as the organizational requirements for success? If your company uses a 360-degree process, include your own personal experience with the method and your thoughts on its value.
Determine whether bill return-on-sales ratio has met : Bill's sales volume was 300,000 appliances with an average selling price of $500 and expenses totaling $90 million. Determine whether Bill's return-on-sales ratio has met the companywide target. Has Bill done a good or a poor job? Explain.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Earnings account to paid-in capital accounts

What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?

  Determining operating cash flow

Find out the operating cash flow (OCF) for Kleczka, Inc., based upon the following data. (All values are in thousands of dollars.)

  Estimated liability under warranties

During 2010, Markel had actual outlay of $48,000 for repairs under warranty. Markel employs the expense warranty accrual method-What amount should the company report for estimated liability under warranties at the end of 2010?

  What do you need to find out before next tax season

What do you need to find out before next tax season?

  How are bond ratings determined

How are bond ratings determined?

  Making summary entries using installment-sales method

Sawyer Furniture Company concluded its first year of operations in which it made sales of $800,000, all on installment. Collections during the year from down payments and installments totaled $300,000. Purchases for the year totaled $400,000; the ..

  How much in dividends will the company declare at the end

At the end of fiscal year 2010, the Acme Company wishes to declare $50,000 in common stock dividends. They currently have 100,000 shares of common stock outstanding and 5,000 shares of $100 par value, 5%, cumulative preferred stock.

  Test for detemining us residence

Compare the so called test for detemining US residence in section 7701 (b) and the myraid of exceptions and special rules used in applying such tests with the facts and circumstances approached used under prior law..

  Complete the three-column comparative income

A new wholesaler has offered to buy 17,000 packages for $3.47 each. These markers would be marketed under the wholesaler's name and would not affect Cayman Products' sales through its normal channels.

  Unreasonable tax return position

Roger prepared for compensation a Federal income tax return for Joan. Joan's return included an aggressive interpreation of the rules concerning overnight business travel. Roger is not liable for a preparer penalty for taking an unreasonable tax r..

  Operating income change problem

Salter Inc.'s unit selling price is $50, the unit variable costs are $35, fixed costs are $125,000, and current sales are 10,000 units. How much will operating income change if sales increase by 5,000 units?

  Effect of a change in accounting principle

The effect of a change in accounting principle that is inseparable from the effect of a change in accounting estimate should be reported:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd