下面为大家整理一篇优秀的essay代写范文 -- The contents of the Memorandum，文章讲述我已审查了您的计划参与多项交易的备忘录，这些备忘录需要大量的权威支持才能使我们正确完成当年的纳税申报表。埃里克·斯托特尔迈耶（Eric Stottlemeyer）决定在2015年与其主要员工和客户一起钓鱼，以便他与他们建立更牢固的业务关系。
The contents of the Memorandum
To: Tax Manager
From: Research Department Staff
Re: Eric Stottlemeyer
I have reviewed your memo of planning the engagement in a number of transactions that will require substantial authoritative support in order for us to properly complete his tax return for the year. Eric Stottlemeyer decided to take a fishing trip in 2015 with his key employees and customers so that he can build a stronger business relationship. By the end of 2014, Eric Stottlemeyer paid $5,800 for flying lessons and rental for the plane. In addition, he spent $1,900 to maintain an aircraft which cost 100 hour interval. And in 2013, Eric received a $20,000 deposit from an international customer. The customer wanted Eric’s business to provide “on-demand” services. However, the customer has not contacted Eric since returning to his native country. Eric has been unable to contact the customer without returning the deposit.
TAX ISSUES
The most important is that Eric needs to figure out whether he can deduct the cost of the fishing trip within the requirement of IRS. Obviously, the fishing trip aims to create a more positive, personalized business relationship besides fishing. Therefore, it is not limited in entertainment but also transaction related.
In addition, Eric should consider about whether those employees and customers have taxable income from their participation in the trip or not.
Moreover, the international customer has never shown up and lost contact since he send the deposit to Eric. And meanwhile, Eric is reluctant to spend deposits, thinking it will be returned. Since the international customer use Eric’s business to provide maintenance “on-demand” whenever the customer’s aircraft began operating out of US airport, Eric may need to pay tax for the transaction. All of these questions must be addressed in order to provide a defensible position with respect to such deduction.
The trip: contain deductable cost or not?
Of initial concern is whether the trip qualifies as a trade or business associated one. If the trip was considered as business associated, Eric may need to pay tax for IRS or it may be regarded as tax evasion. So Eric should concern about the part that can be deductable from the taxable income.
If a business associate travels with you and meets the conditions where the person you go with has a bona fide business purpose for the travel, and would otherwise be allowed to deduct the travel expenses, earlier, you can deduct the travel expenses you have for that person. On the one hand, a business associated trip is someone with the one you could reasonably expect to actively conduct business. A business associate can be a current or prospective to become your customer, client, supplier, employee, agent, partner, or professional advisor. On the other hand, a bona fide business purpose exists if you can prove a real business purpose for the individual’s presence. Incidental services, such as typing notes or assisting in entertaining customers, are not enough to make the expenses deductible. Accordingly, Eric wants to make a successful transaction during the trip. Therefore, he should clear define the expense and income incurred in the business trip so that the deductable cost can be properly treated.
The courts judge that a respondent, the owner of a company, recognized a $3,608 deficiency in petitioner’s Federal income tax for 2010; David H. Garza V. Commissioner of internal revenue [T.C. Memo 2014-121] is one of examples where the business traveler was formally asked to properly pay the tax for business income tax. Before the judgment, the expense and income earned from the company’s business trip wasn’t clearly stated. As a result, the company was finally considered as taxation evasion. For Eric, he should be concern about the person he takes with during the trip so that he can pay tax according to IRS properly.
According to Kenneth H. and Susan W. Beard v. Commissioner of internal revenue [T.C. Memo 2009-184], Kenneth Beard had overstated his basis in two S corporations sold during taxable year 1999, and thus causing an understatement of gross income by more than 25 percent of the amount stated in return. Actually, taxable income should be the company's total income minus income, occurring in the course of the tax law allows the balance after the deduction of the various expenses and losses. Allow deduction is made in advance of the tax law provisions, the company in the total income during the necessary operating and non-operating expenditures.
The deposit of international customer
Eric’s international customer expected Eric’s business to provided maintenance “on-demand” whenever the customer’s aircraft out of US airports. And Eric finally made a deal with the international customer in a condition where he doesn’t learn that the international customer may not be involved in legal activities and may actually results in incarceration.
According to IRS, many US citizens and resident aliens receive income from foreign sources. In the situation where the customer belongs to a foreign native country, the revenue from him can be regard as taxable income from abroad. From Publication § 525, taxable and non-taxable income are specifically discussed. If you’re a US citizen or resident alien, you must report income from all sources within and outside of the US. No matter when you receive a Form W-2 Wage and Tax Statement, a Form 1099 or the foreign equivalents, the tax payer should always remember to pay tax for federal government. The foreigners living in the United States, who are directly related to business activities of income, should apply as a citizen of the United States and pay tax with the progressive tax rate. The ones have no direct relationship with industrial and commercial activities of income, except for addition tax treaty, will pay a proportion of 30% tax rate.
In addition, for foreign company like Eric’s international customer in the case, he must report on his US tax return for whatever he earned. And the Bank Secrecy Act will require him to file a Report of Foreign Bank and Financial Accounts like FinCEN Form 114, previously Form TD F 90-22.1. Firstly, when you have financial interest in signature authority, or other authority over one or more account in a foreign country, you are considered as you should have a foreign financial account. Secondly, the aggregate value of all foreign financial accounts exceeds $10,000 at any time during the calendar year. In the case, Eric owns the deposit of his international customer of $20,000, so he should be considered as he should report to IRS and creates a foreign financial account to pay proper taxation.
However, in the case American Valmar International Ltd., Inc. & Valeri Markovski v. Commissioner of Internal Revenue [229 F.3d 98 (2000)], it has a conflict between the court and the company in the deposit. The result is that the customer deposits which appellants were not legally free to use as they pleased are not taxable income. So Eric should treat the deposit more carefully and recognize it as taxable income.
CONCLUSION
It should be clear after the discussion and facts above, Eric Stottlemeyer should take a more specific plan on his trip with his key employees and main customers because he has an ambitious to finish a business deal during the trip. Besides, he is looking forward to set up more business relationship during the trip so that his career can be explored. Therefore, some income from the trip must be taxable income; he should be aware with them and takes a good control on the business. Furthermore, the cost during the trip can be deducted due to the regulation of the IRS and this should be considered as acceptable and reasonable tax avoidance.
Also, Eric should report the deposits from the international customer whether it would come back or not. And he should consider setting up the foreign financial account so that it can be considered as a reasonable income. This can release him from the punishments from the IRS and protect the reputation of his company.
51due留学教育原创版权郑重声明：原创优秀代写范文源自编辑创作，未经官方许可，网站谢绝转载。对于侵权行为，未经同意的情况下，51Due有权追究法律责任。主要业务有essay代写、assignment代写、paper代写、作业代写服务。
51due为留学生提供最好的作业代写服务，亲们可以进入主页了解和获取更多代写范文提供作业代写服务，详情可以咨询我们的客服QQ：800020041。
The contents of the Memorandum
To: Tax Manager
From: Research Department Staff
Re: Eric Stottlemeyer
I have reviewed your memo of planning the engagement in a number of transactions that will require substantial authoritative support in order for us to properly complete his tax return for the year. Eric Stottlemeyer decided to take a fishing trip in 2015 with his key employees and customers so that he can build a stronger business relationship. By the end of 2014, Eric Stottlemeyer paid $5,800 for flying lessons and rental for the plane. In addition, he spent $1,900 to maintain an aircraft which cost 100 hour interval. And in 2013, Eric received a $20,000 deposit from an international customer. The customer wanted Eric’s business to provide “on-demand” services. However, the customer has not contacted Eric since returning to his native country. Eric has been unable to contact the customer without returning the deposit.
TAX ISSUES
The most important is that Eric needs to figure out whether he can deduct the cost of the fishing trip within the requirement of IRS. Obviously, the fishing trip aims to create a more positive, personalized business relationship besides fishing. Therefore, it is not limited in entertainment but also transaction related.
In addition, Eric should consider about whether those employees and customers have taxable income from their participation in the trip or not.
Moreover, the international customer has never shown up and lost contact since he send the deposit to Eric. And meanwhile, Eric is reluctant to spend deposits, thinking it will be returned. Since the international customer use Eric’s business to provide maintenance “on-demand” whenever the customer’s aircraft began operating out of US airport, Eric may need to pay tax for the transaction. All of these questions must be addressed in order to provide a defensible position with respect to such deduction.
The trip: contain deductable cost or not?
Of initial concern is whether the trip qualifies as a trade or business associated one. If the trip was considered as business associated, Eric may need to pay tax for IRS or it may be regarded as tax evasion. So Eric should concern about the part that can be deductable from the taxable income.
If a business associate travels with you and meets the conditions where the person you go with has a bona fide business purpose for the travel, and would otherwise be allowed to deduct the travel expenses, earlier, you can deduct the travel expenses you have for that person. On the one hand, a business associated trip is someone with the one you could reasonably expect to actively conduct business. A business associate can be a current or prospective to become your customer, client, supplier, employee, agent, partner, or professional advisor. On the other hand, a bona fide business purpose exists if you can prove a real business purpose for the individual’s presence. Incidental services, such as typing notes or assisting in entertaining customers, are not enough to make the expenses deductible. Accordingly, Eric wants to make a successful transaction during the trip. Therefore, he should clear define the expense and income incurred in the business trip so that the deductable cost can be properly treated.
The courts judge that a respondent, the owner of a company, recognized a $3,608 deficiency in petitioner’s Federal income tax for 2010; David H. Garza V. Commissioner of internal revenue [T.C. Memo 2014-121] is one of examples where the business traveler was formally asked to properly pay the tax for business income tax. Before the judgment, the expense and income earned from the company’s business trip wasn’t clearly stated. As a result, the company was finally considered as taxation evasion. For Eric, he should be concern about the person he takes with during the trip so that he can pay tax according to IRS properly.
According to Kenneth H. and Susan W. Beard v. Commissioner of internal revenue [T.C. Memo 2009-184], Kenneth Beard had overstated his basis in two S corporations sold during taxable year 1999, and thus causing an understatement of gross income by more than 25 percent of the amount stated in return. Actually, taxable income should be the company's total income minus income, occurring in the course of the tax law allows the balance after the deduction of the various expenses and losses. Allow deduction is made in advance of the tax law provisions, the company in the total income during the necessary operating and non-operating expenditures.
The deposit of international customer
Eric’s international customer expected Eric’s business to provided maintenance “on-demand” whenever the customer’s aircraft out of US airports. And Eric finally made a deal with the international customer in a condition where he doesn’t learn that the international customer may not be involved in legal activities and may actually results in incarceration.
According to IRS, many US citizens and resident aliens receive income from foreign sources. In the situation where the customer belongs to a foreign native country, the revenue from him can be regard as taxable income from abroad. From Publication § 525, taxable and non-taxable income are specifically discussed. If you’re a US citizen or resident alien, you must report income from all sources within and outside of the US. No matter when you receive a Form W-2 Wage and Tax Statement, a Form 1099 or the foreign equivalents, the tax payer should always remember to pay tax for federal government. The foreigners living in the United States, who are directly related to business activities of income, should apply as a citizen of the United States and pay tax with the progressive tax rate. The ones have no direct relationship with industrial and commercial activities of income, except for addition tax treaty, will pay a proportion of 30% tax rate.
In addition, for foreign company like Eric’s international customer in the case, he must report on his US tax return for whatever he earned. And the Bank Secrecy Act will require him to file a Report of Foreign Bank and Financial Accounts like FinCEN Form 114, previously Form TD F 90-22.1. Firstly, when you have financial interest in signature authority, or other authority over one or more account in a foreign country, you are considered as you should have a foreign financial account. Secondly, the aggregate value of all foreign financial accounts exceeds $10,000 at any time during the calendar year. In the case, Eric owns the deposit of his international customer of $20,000, so he should be considered as he should report to IRS and creates a foreign financial account to pay proper taxation.
However, in the case American Valmar International Ltd., Inc. & Valeri Markovski v. Commissioner of Internal Revenue [229 F.3d 98 (2000)], it has a conflict between the court and the company in the deposit. The result is that the customer deposits which appellants were not legally free to use as they pleased are not taxable income. So Eric should treat the deposit more carefully and recognize it as taxable income.
CONCLUSION
It should be clear after the discussion and facts above, Eric Stottlemeyer should take a more specific plan on his trip with his key employees and main customers because he has an ambitious to finish a business deal during the trip. Besides, he is looking forward to set up more business relationship during the trip so that his career can be explored. Therefore, some income from the trip must be taxable income; he should be aware with them and takes a good control on the business. Furthermore, the cost during the trip can be deducted due to the regulation of the IRS and this should be considered as acceptable and reasonable tax avoidance.
Also, Eric should report the deposits from the international customer whether it would come back or not. And he should consider setting up the foreign financial account so that it can be considered as a reasonable income. This can release him from the punishments from the IRS and protect the reputation of his company.
51due留学教育原创版权郑重声明：原创优秀代写范文源自编辑创作，未经官方许可，网站谢绝转载。对于侵权行为，未经同意的情况下，51Due有权追究法律责任。主要业务有essay代写、assignment代写、paper代写、作业代写服务。
51due为留学生提供最好的作业代写服务，亲们可以进入主页了解和获取更多代写范文提供作业代写服务，详情可以咨询我们的客服QQ：800020041。
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