Class 1a - Introduction

Class 1a - Introduction - Introduction to Business Taxation...

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Unformatted text preview: Introduction to Business Taxation Taxation of the Business Entity Online Lecture Series Presented by Akore Berliner, CPA Why Entity Taxation? Entity taxation rules cover areas such as: 1. Business Operations 1. Owners put assets into a business when they establish a business entity 1. Owners take assets out of the business during its existence in the form of: Salary, dividends, withdrawals, redemptions of stock, etc. 1. Owners dispose of all or part of a business entity Get assets out of the business Dispose of the business entity History of Tax Initially enacted to finance war 1861 : First Federal individual income tax enacted, Repealed after Civil War 1913 : 16th Amendment ratified Sanctioned both Federal individual and corporate income taxes History of Tax Current Tax Motives: Social & Economic Objectives are met via tax legislation Family Incentives Home Ownership Incentives Fixed Asset Incentives Income Taxes...
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This note was uploaded on 08/11/2011 for the course ACCT 103 taught by Professor Huxhold during the Spring '11 term at San Diego.

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Class 1a - Introduction - Introduction to Business Taxation...

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