We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Taxes - Essay Example

Comments (0) Cite this document
Summary
In this regard, I would like to identify some available mechanisms that could be used for minimizing of incomes tax, capital gains…
Download full paperFile format: .doc, available for editing
Polish This Essay94.2% of users find it useful
Taxes
Read TextPreview

Extract of sample
"Taxes"

Download file to see previous pages Using charitable trusts is another way to reduce income tax, especially for the ones who belong to high income group as these trusts help you to give charity generously, giving you a big tax break (Karayan & Swenson, 2006).
At the time of selling of valuable assets, one can easily minimize Capital Gains tax with the help of one of the most secure asset protection program known as Private Annuity Tax (PAT) which minimizes even smaller properties like artwork or jewelry. When a property is transferred into PAT, it results in smaller tax expense. Another way of minimizing Capital Gains is to get an ISA (Individual Savings Account). Investors can put sufficient funds in ISA and gains made inside this account are CGT-free. Moreover, one more strategy is used which is: Investing in small companies through special tax efficient programs. In this way, one can claim for Capital Gains tax previously paid.
One of the most popular vehicles used to reduce Estate tax is to ‘uniform transfer to minors’. Such type of gifting occurs where your children are minors. The gift is handed over to a guardian and when the children reach the age of majority. Marital transfers is another useful way in which assets are transferred to a surviving spouse, who should not be a non-citizen, which minimized the estate tax which is due. Lastly, Quality Family-Owned Business Interest (QFOBI) is another way in which it reduces the gross value of the state and automatically reduces the amount of estate tax which is charged on the net value of the state (Karayan, et al., 2002).
I am very much hopeful that I have provided you significant and useful amount of information about the vehicles for reducing taxes and these vehicles could be regarded as substantial means for taxes ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Taxes Essay Example | Topics and Well Written Essays - 250 words”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1600793-taxes
(Taxes Essay Example | Topics and Well Written Essays - 250 Words)
https://studentshare.org/macro-microeconomics/1600793-taxes.
“Taxes Essay Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/macro-microeconomics/1600793-taxes.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Inheritance Taxes
Everyone knows that a portion of the money they have earned will be going to the government to pay its bills, and most people will concede that taxes are a necessary evil if there is to be infrastructure, order, and public assistance among many other services which taxes fund.
16 Pages(4000 words)Essay
Casino taxes
In fact, if a person wins a jackpot for twelve hundred dollars or more, the casino takes down the personal information and passes that information with the amount won on to the IRS (Smulik, Roche, & Roche, 2011).
3 Pages(750 words)Essay
Taxes
The world has witnessed the failure of the planned economy with the fall of the former USSR. However, certain features of planned economy are still visible in the form of socio-political interventions that take place in the mixed economy capitalism. From the perspective of the American capitalist democracy, such policy interventions by the government are dangerous.
3 Pages(750 words)Essay
Avoiding Taxes
Tax liability: Effects of renouncing US citizenship The efforts on reduction of tax liability has increased in the recent years as the tax payers feel that they are unfairly taxed on the income earned by them. The US income tax returns have become lengthy and tiring in recent times.
3 Pages(750 words)Essay
Oil Taxes
This paper intends to look into the different taxes imposed on crude oil according to the new tax codes imposed as an effective contribution to the global economy. In this modern era, the industrial economy around the world has relied so much on oil as the lifeblood of every nation's major source of energy.
15 Pages(3750 words)Essay
Auditing, taxes
The issue of ethics is paramount in so important and vital a subject as audit. The routine grind and pre-occupation with prospects for fresh trade and service opportunities make it difficult for business enterprises, social and other non-profit organizations, and professionals to scrupulously adhere to sound ethics that not only evolve with moral principles but also fundamental, cultural and business practices unique and relevant to every socio-culture.
3 Pages(750 words)Essay
Corporate Taxes
Susan's concern is, in a tax perspective and given the eventuality of a bankruptcy, what is the optimal method for the additional $80,000: capital contribution or a loan to Bluegill Corporation An individual who had opted to operate a business as a sole owner and organized the business as a C Corporation can elect to have the corporation taxed as if it was a partnership under Subchapter S of the Internal Revenue Code (Parker & Yash, 2007, p.
3 Pages(750 words)Essay
Taxes
According to the author of the text, the amount of money that is circularized people to people by the country is the money that is collected in the shape of income tax, which is paid by the citizens. It is also mentioned that the idea was of Mr. Augustus Ceaser to apply tax system all around the world.
2 Pages(500 words)Essay
US taxes
He further explained that the value of tax was increased only for wealthy Americans but lowered for middle class citizens who get a 10% deduction on income worth $12, 400 as income tax (8). Most
1 Pages(250 words)Essay
Taxes
The rationale for this position is the prevailing disparities in American society. Despite being the richest country in the world, the United States lags
1 Pages(250 words)Assignment
Let us find you another Essay on topic Taxes for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us