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Essays about Income Tax

Flat Tax in Current Income Tax System

Our current income tax system today is very complex, unfair, inhibits saving, investment and job creation, imposes a heavy burden on families, and weakens the integrity of the democratic process. It can’t be fixed and must be replaced. The U.S. income tax code is a long and complex system. The income tax system is so …

Flat Tax Rate

Only days after the last elections for Congress in November of 1994, CongressmanBill Archer declared his strong desire to tear out the income tax by itsroots. After that, Newt Gingrich and Bob Dole formed a commission to considernew alternatives to the income tax. That lead to more than a half dozencongressional panels holding hearings on …

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The fair tax book: Saying goodbye to income tax and the irs

The fair tax book: Saying goodbye to income tax and the irs Death and taxes. They say these are the two certain things in life. And for many Americans, who have to face the IRS via monthly deductions on their paychecks, as well as the much dreaded income tax filing season, the later is indeed …

Income Tax Accounting

1. Compare and contrast different ways in which a taxpayer triggers a realization event by disposing of an asset. A taxpayer could sell an asset, donate it to charity, trade it for a similar asset, take it to the landfill, or have it destroyed in a natural disaster. 2. Potomac Corporations wants to sell a …

ABG Limited and the Enterprise Income Tax Law

ABG Limited which is established in Mainland china in 1998 would now want to pay out dividends to Gamma Limited which is a private company incorporated in Hong Kong. What is the tax percentage to be paid by Hong Kong Company for the amount received by ABC Limited? According to the a completely rewritten corporate …

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