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Eric Wright conducts a dry cleaning business as a sole proprietorship. The business operates in a building that Eric owns. Last year, Eric mortgaged for $150,000 the building and the land on which the building sits. He used the money for a down payment on his personal residence and college expenses for his two children. He now wants to incorporate his business and transfer the building and the mortgage to a new corporation, along with other assets and some accounts payable. The amount of the unpaid mortgage balance will not exceed Eric's adjusted basis in the land and building at the time he transfers them to the corporation. Eric is aware that Sec. 357(b) could impact the tax consequences of the transaction because no bona fide business purpose exists for the mortgage transfer, which the IRS might consider to have been for a tax avoidance purpose. However, Eric refuses to acknowledge this possibility when you confront him. He maintains that many tax payers play the audit lottery and that, in the event of an audit, invoking this issue could be a bargaining ploy.
Required: What information about the transaction must be provided with the transferor and transferee's tax returns for the year in which the transfer takes place? Discuss the ethical issues raised by the AICPA's statements on standards for tax services No. 1, Tax Return Positions (which can be found in Appendix E) as it relates to this situation. Should the tax practitioner act as an advocate for the client? Should the practitioner sign the return?
Compare and contrast leadership approaches listed below and highlight the approach that is most effective .explain why you selected the approach a. transformational approach b. charismatic approach c. level 5 approach d. Situational approach
What would you do if you were in a position at Nike to decide whether to continue or revise your labor practices in a foreign country?
Discuss the events or uncertainties that are most likely to cause trouble in the implementation of your recommendations and how you would react to them if they were to occur.
Data-driven decision-making aka data analytics Decision support systems Sustainable supply chain management
If a service level of 97% is desired during the reorder interval, what is the reorder point (select the closest number)?A.
List the 5 intensity forces. Describe each force. Also describe how and why organizations use this model in formulating strategy.
Your management team has been retained by a senior manager who is concerned about the effectiveness of his managers and their leadership abilities. He would like you to develop a training guide that shows how personality traits affect management a..
Assume that you are a marketing manager for a youth clothing manufacturer that has just read about the megatrend of the "rising Hispanic influence" in the United States. Explain this megatrend and indicate why it might be important to your company. D..
How do MNC managers manage conflict? Compare or contrast managing conflict resolutions using the instrumental-oriented conflict approach and the expressive-oriented conflict approach.
Revise the diagram to capture this functionality. Also, express some common behavior among two use cases in the revised diagram by using "include" relationships.
Senior leaders must understand how to motivate employees in a variety of ways. Research major motivational theories, and pick 3 theories to discuss.
Briefly describe the company you researched, its compensation strategy, best practices they are applying
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