Tax Issue in the First Wives Club Essays - 1284 Words

The film is a comedy about three women seeking justice after their husbands became successful and divorced them for younger women. Brenda, Elise, Cynthia and Annie were close friends in college, but after graduation from Middlebury, they lost touch with one another for 27 years. When Cynthia committed suicide after her ex-husband married a much younger mistress, the other three women met at her funeral for the first time since college. Seeing that their friend grew unhappy after her husband left her for a younger woman, they found themselves in the similar situation. Brenda is now divorced, depressed, and struggling financially. She helped her husband Morton open a profitable chain of discount electronics stores, but now that his business†¦show more content†¦For that reason, the necklaces constitute excludable gifts. The exclusion of gifts from income taxation is to relieve double taxation caused by the gift tax. Brenda, Elise and Annie are not subject to income taxation; however, Cynthia (the donor who gave the gift) might be subject to gift tax rules, based on the fair market value of the gift. Whether the donor must pay a gift tax or not depends on several factors, such as the fair market value of the gift or total gifts made during the year. Cynthia had also given her maid her necklace before she committed suicide, saying it was a raise. Therefore, the maid recognized some income from the gift. The second recognizable tax issue is the alimony between Elise and her husband, Bill. Bill is a film producer, who achieved success through Elises connections but eventually left her for a younger actress. Bill is now suing her for the alimony and insisting that all of their marital assets be liquidated with the proceeds divided between them. Alimony is a legal obligation on a person to provide financial support to his or her spouse after divorce or separation. In other words, it is a sharing of income between two parties. Alimonies were traditionally paid by husbands to ex-wives, but since the 1970s an ex-husband may also be entitled to alimony from his former wife thanks to gender equality in many Western countries. Alimonies are taxable to the recipient andShow MoreRelatedSelection and Recruitment of Life Advisors for Bharti-Axa Life Insurance Co Ltd.6924 Words   |  28 Pagesstarted in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcu tta. Some of the important milestones in the life insurance business in India are: 1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. 1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. 1938: Earlier legislation consolidatedRead MoreThe Time Of Poverty From The Great Depression1853 Words   |  8 Pages D.C., Philadelphia and Chicago, as well as desegregation in the cities, encouraged white Americans to relocate to suburban areas, known as â€Å"white flight†. â€Å"So writes city historian Graeme Davison of Monash University, in Australia, in a recent issue of the Journal of Urban History. As cities and towns became manufacturing centers filled with industrial workers, suburban areas were seen as exclusive retreats for the moneyed classes. When the well-to-do fled to the suburbs, they sought to placeRead MoreSources A and E and Their Support of the View that the Failure of Prohibition was Inevitable2046 Words   |  9 Pagesform source E. however as the 1920’s went on under this new law this was not the case, â€Å"instead drinking has generally increased† and many of the â€Å"best citizens† became â€Å" lawbreakers†. Businessmen also started to realize how much of a tax burden was upon them and that the renewal of taxes on liquor would reduce it. For this reason many influential business men like J.D. Rockefeller turned against prohibition, but used â€Å"crime has increased to a level never seen before† asRead MoreHome Decorating Plan4684 Words   |  19 Pagescondominium valued at over $125,000.  · If they work out of the home, its by choice in a professional/business setting.  · Belong to one or more business, social and/or athletic organizations, which may include: o Downtown Athletic Club. o Boise Country Club. o Junior League of Boise. o American Business Womens Association. We know the following regarding the profile of the typical resident of Boise:  · 67% have lived in Boise for 7 years or more.  · 23% are between the ages of 35Read MoreIntroduction to Tax Residence14946 Words   |  60 PagesChapter 1 introduction tax residence †¢Direct taxes – taxes paid directly to government (income tax , RPGT) †¢Indirect taxes – taxes paid to government via 3rd party( sale,service) †¢Income tax –scope of charge( S3 of ITA) has been modified by ‘’tax exempted’’ ïÆ'ËœIncome tax shall be charged for each y/a upon income of any person accruing in or derived from MY or received in MY from outside MY ïÆ' ¼Income known as revalue gain( capital gain never go for inc tax ïÆ' ¼Person=individual , Co(chargeableRead MoreIntroduction to Tax Residence14946 Words   |  60 PagesChapter 1 introduction tax residence †¢Direct taxes – taxes paid directly to government (income tax , RPGT) †¢Indirect taxes – taxes paid to government via 3rd party( sale,service) †¢Income tax –scope of charge( S3 of ITA) has been modified by ‘’tax exempted’’ ïÆ'ËœIncome tax shall be charged for each y/a upon income of any person accruing in or derived from MY or received in MY from outside MY ïÆ' ¼Income known as revalue gain( capital gain never go for inc tax ïÆ' ¼Person=individual , Co(chargeable person)Read MoreHarry Lee Kuan Yew2292 Words   |  10 Pagesstrongly influenced by British culture. His grandfather, Lee Hoon Leong, had given his sons an English education. His grandfather gave him the name Harry while the name Kuan Yew was given by his father. He was mostly known as Harry Lee for his first 30 or so years, and still is to many close friends and family. Since entering politics, he has mostly styled himself Lee Kuan Yew. Mr Lee married Kwa Geok Choo on 30 September 1950. His wife died on 2 October 2010 in her sleep. They have two sonsRead MoreThe Censorship of Art Essay example14698 Words   |  59 Pagescontrol targeted at rap and rock music. Moreover, I explore how the performers and fans of these musical styles have in turn articulated counter-claims, and how they have mobilized social forces in defense of the free expression of their art-form. The issue is addressed through an historical examination of the actions underta ken to censor and control rap and rock music since the founding of the Parents Music Resource Center (PMRC) in 1985. I. 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Materials and Methods The 1000 milliliter flask fitted with a three hole rubber stopper, separatory funnel and a measuring pipet.   First, fill Erlenmeyer flask with 250 milliliters of distilled water.   Put the glass tube with a right angle bend into one hole of the three hole stopper.   Place stopper in flask making sure no air bubbles are trapped. Take a plant shoot and cut in the

The Book of Dead and the Ten Commandments Free Essays

The Hebrew Ten Commandments and Egyptian Book of the Dead are considered very different religious texts. Therefore, in the books of Exodus and Deuteronomy, the Ten Commandments hold a vital position in the ethical system of Judaism, Christianity, and Islam. It served as a symbol of God’s guidance and presence with his people (â€Å"Ten Commandments†). We will write a custom essay sample on The Book of Dead and the Ten Commandments or any similar topic only for you Order Now Ten Commandments is much important than the book of dead because there’s no life after deaf. Firstly, The Ten Commandments and the Book of the Dead are words written for people to obey. The Ten Commandments are ten statements Christians live their lives by, while the Book of the Dead contains spells that aid the soul in navigating the underworld. In Christian religion, the Ten Commandments serve as a summary of the divine law given to Moses by God. After leading his people out of slavery, Moses and his followers came upon Mt. Sinai. Scaling this mountain, he received the Law which would form the basis of God’s Covenant with Israel. The purpose was to practice a life of obedience and dedication to God in order for spiritual salvation to be achieved. Secondly, The Ten Commandments serve as a template for people to use as a model for their life. For the Egyptians, the Book of the Dead isn’t so much a religious set of laws, but more as a traveler’s guide through the underworld. The Egyptians believed that, though death was inevitable, it was also survivable. To navigate the underworld, spells written in the Book of the Dead were used by the soul of the decease. The Book contains a list of statements that bear a resemblance to the Ten Commandments, both in nature and phrasing. The souls of the dead were required to pass two different tests. The first was the weighing of their heart against the feather of Truth. If they passed this test, then they moved on to the second. It required the deceased to recite a negative confession at the Hall of Two Truths (â€Å"Book of the Dead†). A negative confession includes the use of the phrase â€Å"I have not . . . This is strikingly similar to the â€Å"Thou shall not . . . † phrasing of the Ten Commandments. For example, â€Å"I have not reviled the God† is synonymous to â€Å"Thou shall not take the name of the Lord thy God in vain. †I have not killed; I have not turned anyone over to a killer may be linked to Thou shall not kill† (Exodus). However, though Christians remain faithful to only one God, â€Å"the Egyptians believed in a myriad of gods and goddesses† (Roth Ruth). The negative confessions are coupled with the naming of 42 gods. Hail Flame†, â€Å"Hail Shining-Tooth†, â€Å"and Hail Neheb-kau† (Wikipedia). The second major difference is that the concept of a Sabbath Day is not mentioned in the Book of the Dead. In conclusion, we can say that the book of dead borrowed the concept of the Ten Commandments. Comparing a translation of the Book with the King James Version of Exodus, both texts prove to be very similar. But substantial differences such as god-worship and religious holidays serve as stumbling blocks in this theory because â€Å"before deaf there was life†( Wikipedia). How to cite The Book of Dead and the Ten Commandments, Papers

Reflecting on Wisdom

Question: Discuss about a Report about Reflecting on Wisdom? Answer: Reflecting on Wisdom Wisdom is known as the ability of thinking and act using common sense, understanding, experience, insight and knowledge (Lorenz et al., 2011). According to Jeste et al., (2010) wisdom is recognized as one of four cardinal virtue, it is a habit of performing an action without doing anything wrong. When I look upon my family, friends and teachers, I discovered that the wisest person I ever meet in my life is my father. Wisdom is a virtue that comes through experiences, ability and the hardships. Throughout my life, my father, his morals and hardships inspired me. I found that wisdom could not be measured by the IQ level of a person (Schmit et al., 2012). I personally feel wisdom is the actions that reflects the understanding and knowledge of a person and use of these characteristics in order to lead a healthy and happy life. My father, though he grew older, remains the wisest person I have ever met. I found him wise, because I discovered all of the characteristic of a wise person is present in him. The first characteristic in my father, I admire most is his education level. Though he retired from his work still engaged himself to learn something new. His discipline and patience make him a person who can take any decision with confidence. However, he is not an arrogant person, he is very humble and always listen others opinion. I saw him accepting his failure openly and learn something new from his failure. Though he is not a perfect person and make mistakes, I found him always learn from those mistakes, which make him a better person and neve r make the same mistakes again. He did not just speak about the wise decisions, but he displayed and modeled them. My father has a high academic background. However, throughout my life I observed his lifestyle keenly and found that he is not only a knowledgeable person but he has an insight on different situations of life that we all face. He is the backbone of our family who guide me and other members of our family in every step of our life. Whenever I asked for his guidance to take any decision, he is always present there with his vast knowledge and experiences. It is hard to evaluate myself to find out which characteristics of a wise person I have developed in me. However, when I looked at myself, I recognized a humble person, who possesses enthusiasm to learn something new and in a better way. As a student, I found my life is full of hurdled. I always try to accept challenges openly and follow my fathers word, who always told me that life is going to be more complicated; therefore, I have to take decisions wisely. Today when I looked at myself, I am a grown up person, who do not feel ashamed to accept failure. I think that failures are the best teachers in life. Whenever I failed in a task, I discover that the situation in turn is helpful to learn how to do the same task in a better way. This step proves as helpful to reach my goal in an easier way. On the other hand, I grew up by following the footsteps of my father; therefore, I learned to maintain discipline. I learned that wise people exercise self-control. The self-control is essentia l to develop a good career. I always found it is beneficial not to be panicked in a demanding situation. Only a wise person can check their temper in a demanding situation by sowing self-control, which in turn is helpful to take decisions in those situations. However, I am neither a perfect person, nor someone as my father. My father is an ideal person who has wisdom and recognized by others as wise person. As a child, I tried to follow my father and develop all of his characteristics. Today, I recognized myself as a humble person. I am also eager to gather knowledge, apart from my academic courses. My teachers recognized me as a studious as well as a disciplined student. However, I failed to develop all of my fathers characteristics. One of the best characteristics my father has is patience, which I completely failed to develop. However, I found that being a wise person, it is important to have more patience, than others do. However, I failed to develop this vital characteristic. I think being a student development of patience is important in order to progress in the academic field. Therefore, in the coming years I believe I need to develop patience more fully in the years to come. References Jeste, D. V., Ardelt, M., Blazer, D., Kraemer, H. C., Vaillant, G., Meeks, T. W. (2010). Expert consensus on characteristics of wisdom: A Delphi method study.The Gerontologist, gnq022. Lorenz, J., Rauhut, H., Schweitzer, F., Helbing, D. (2011). How social influence can undermine the wisdom of crowd effect.Proceedings of the National Academy of Sciences,108(22), 9020-9025. Schmit, D. E., Muldoon, J., Pounders, K. (2012). What is wisdom? The development and validation of a multidimensional measure.Journal of Leadership, Accountability and Ethics,9(2), 39.