State your opinion for or against the estate tax

Reference no: EM133354080

Question 1: Estate taxes: Good or bad for small business owners?

Supporters of the estate and gift tax argue that it provides progressivity in the federal tax system, provides a backstop to the individual income tax and appropriately targets assets that are bestowed on heirs rather than assets earned through their hard work and effort. However, critics argue that the tax discourages savings, harms small businesses, taxes resources already subject to income taxes, and adds to the complexity to the tax system. Critics also suggest death is an inappropriate time to impose a tax.

Question 2: The above video is produced by the heritage foundation, and clearly biased against the estate tax in its current form. Now that you have studied the estate tax in more detail, state your opinion for or against the estate tax in its current form? Do you believe it is a necessary to generate income for the government? Or do you agree with the heritage foundation that the tax imposes an undue burden on small business owners? While this is often a political debate question, Please justify your answer with ACCOUNTING THEORY.

Reference no: EM133354080

Questions Cloud

Traditional and contemporary approaches of management : MN4062QA Principles of Management, London Metropolitan University - Identify major developments in the history of managerial thought

Compute tony taxable income for the year : During the year, Tony earned $100,000. His employer withheld $12,000 in Federal income taxes and the proper amount of FICA taxes. New York tax withheld

Auditory information through the ear : Describe the typical process of how you will sense and process this auditory information through the ear.

Prepare morticia and gomez 2021 income tax returns : Prepare Morticia and Gomez's 2021 income tax returns (T1) using the 2021 version of Profile software. See attachments on following pages.

State your opinion for or against the estate tax : Do you believe it is a necessary to generate income for the government? Or do you agree with the heritage foundation that the tax imposes an undue burden

Diversity and inclusion at davidson college : Is setting numbers for business at 30% the right way to address the issue of diversity and inclusion at Davidson college?

What is your opinion about incorporating the business going : what is your opinion about incorporating the business going forward? List at least two reasons for or against incorporating, and any change the S-corp status

What is the provincial tax payable before tax credits : What is the provincial tax payable before tax credits if the individual is a residence of Ontario in 2021 calendar year with the same taxable income of $88,500?

Supervisor noticed coworker burnout is high in your office : Your supervisor noticed coworker burnout is high in your office and there has been a lot of turnover lately.

User Account

All Pages