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Trip Garage, Inc. (459 Ellis Avenue, Harrisburg, PA 17111), is an accrual basis taxpayer that repairs automobiles. In late December 2015, the company repaired Samuel Mosley's car and charged him $1,000. Samuel did not think the prob- lem had been fixed and refused to pay; thus, Trip refused to release the automobile. In early January 2016, Trip made a few adjustments and convinced Samuel that the automobile was working properly. At that time, Samuel agreed to pay only $900 because he did not have the use of the car for a week. Trip said "fine," accepted the $900, and released the automobile to Samuel. An IRS agent thinks Trip, as an accrual basis taxpayer, should report $1,000 of income in 2015, when the work was done, and then deduct a $100 loss in 2016. Prepare a memo to Susan Apple, the treasurer of Trip, with the recommended treatment for the disputed income.
zhdanov inc. forecasts that its free cash flow in coming year i.e. at t 1 will be -10 million but its fcf at t 2 will
The total after-tax show value of the cash flows above is closest to:
Your managing director asks if you can participate in a seminar that the firm is doing on Tax Efficient Financial Planning. He would like you to send him the various methods clients often use to reduce taxes.
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