Author: Penny BergerPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Pitfalls and Traps of Tax Reform
Author: Penny BergerProblems to Keep in Mind when it Comes to Tax Reform
Author: William FellnerPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 40
Book Description
Keys to Avoiding the Economic Pitfalls of Revenue Neutral Tax Reform
Author: EntinIncome Tax Disputes Involving Loss Years
Author: Michael H. LubetskyPublisher:
ISBN:
Category :
Languages : en
Pages : 34
Book Description
Tax disputes involving losses can be challenging to resolve owing to two longstanding principles, commonly known as "the nil assessment rule" and "the New St James principle." The nil assessment rule bars taxpayers from objecting to assessments that result in no tax being payable--including both loss years and profitable years where income is completely offset by carryovers. The New St James principle provides, essentially, that loss years or years with no tax payable never become statute-barred.Because the nil assessment rule and the New St James principle can prevent the resolution of disputes over tax loss balances in a timely manner, Parliament amended the Income Tax Act in 1977 so as to allow, in certain situations, for the issuance by the minister of national revenue of a notice of determination of losses (NODL) for a given taxation year. Once issued, a NODL can be objected to or appealed in basically the same manner as an assessment and, subject to any objection or appeal, becomes binding upon the minister and the taxpayer.However, the existence of a parallel but distinct system for resolving loss disputes leaves gaps that result in a range of procedural traps for taxpayers. Taxpayers caught in these traps can potentially end up losing their rights to object to or appeal disputed income adjustments, reviving statute-barred issues, or being required to pay arrears interest on extinguished tax debts. This article explores some of these traps, showing how they arise and what a taxpayer might do to avoid being caught by them. It also discusses whether the time has come to reform the nil assessment rule and/or the New St James principle so as to allow disputes involving losses to be resolved more readily by the Tax Court of Canada, and proposes several possible reforms.
Managing Real Estate Taxes
Author: Jerry T. FergusonPublisher: Praeger
ISBN:
Category : Business & Economics
Languages : en
Pages : 208
Book Description
This convenient reference tool is designed for real estate investors who wish to maximize their tax benefits through a better understanding of real estate law. Ferguson and Spede thoroughly analyze and explain real estate tax laws, as well as the problems and advantages of purchasing, owning, and selling real estate. Specifically explained and illustrated are such issues as calculating excess investment and interest, installment selling, alternative minimum tax, investment credits, recapture of tax credits, trading properties, leases with options to buy, and the establishment of new bases for trade. In addition, the authors emphasize many of the tax traps and pitfalls encountered by investors, including accelerated depreciation, amortization of expenses, and tax write-offs. Also considered are related topics such as personal property taxes, special tax problems, the rehabilitation of historic and older commercial properties, low income housing, rental cooperatives, condominium units, and home ownership taxation. Finally, there is a discussion of tax reform, including the changes brought about by the Deficit Reduction Act of 1984, as well as the possible effects of the flat tax rate proposed by the Treasury Department in January of 1985. The volume is completely cross-referenced, and includes chapter summaries, case histories, and a glossary, as well as numerous tables and illustrations.
Major Tax Reform Options
Author: United States. Congress. Senate. Committee on FinancePublisher:
ISBN:
Category : Income tax
Languages : en
Pages : 524
Book Description
Tax Reform Act of 1969
Author: United States. Congress. Senate. Committee on FinancePublisher:
ISBN:
Category : Income tax
Languages : en
Pages : 178
Book Description
The Theory of Taxation for Developing Countries
Author: David M. G. NewberyPublisher: Oxford University Press, USA
ISBN:
Category : Business & Economics
Languages : en
Pages : 720
Book Description
Written by experts in the field, this book uses the modern theory of public finance to analyze tax and pricing policy in developing countries.
Tax Reform Act of 1969, H.R. 13270
Author: United States. Congress. Senate. Committee on FinancePublisher:
ISBN:
Category : Financial institutions
Languages : en
Pages : 168
Book Description
Strong Towns
Author: Charles L. Marohn, Jr.Publisher: John Wiley & Sons
ISBN: 1119564816
Category : Business & Economics
Languages : en
Pages : 262
Book Description
A new way forward for sustainable quality of life in cities of all sizes Strong Towns: A Bottom-Up Revolution to Build American Prosperity is a book of forward-thinking ideas that breaks with modern wisdom to present a new vision of urban development in the United States. Presenting the foundational ideas of the Strong Towns movement he co-founded, Charles Marohn explains why cities of all sizes continue to struggle to meet their basic needs, and reveals the new paradigm that can solve this longstanding problem. Inside, you’ll learn why inducing growth and development has been the conventional response to urban financial struggles—and why it just doesn’t work. New development and high-risk investing don’t generate enough wealth to support itself, and cities continue to struggle. Read this book to find out how cities large and small can focus on bottom-up investments to minimize risk and maximize their ability to strengthen the community financially and improve citizens’ quality of life. Develop in-depth knowledge of the underlying logic behind the “traditional” search for never-ending urban growth Learn practical solutions for ameliorating financial struggles through low-risk investment and a grassroots focus Gain insights and tools that can stop the vicious cycle of budget shortfalls and unexpected downturns Become a part of the Strong Towns revolution by shifting the focus away from top-down growth toward rebuilding American prosperity Strong Towns acknowledges that there is a problem with the American approach to growth and shows community leaders a new way forward. The Strong Towns response is a revolution in how we assemble the places we live.