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Class 1a - Introduction

Class 1a - Introduction - OnlineLectureSeries ,CPA...

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Introduction to Business Taxation Taxation of the Business Entity Online Lecture Series Presented by Akore Berliner, CPA
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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 
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History of Tax Initially enacted to finance war 1861 : First Federal individual income tax enacted,  Repealed after Civil War 1913 : 16th Amendment ratified Sanctioned both Federal individual and corporate income  taxes
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History of Tax Current Tax Motives:  Social & Economic  Objectives are met via tax  legislation  Family Incentives Home Ownership Incentives Fixed Asset Incentives
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