Overall Changes to Code
What is the new coprorate tax rate
What is 21%
What are companies afraid of accidentally creating abroad?
What are permanent establishments?
Which 3 countries did we go over for their exit taxes?
Who are Belgium, Ireland and Sweden
What 4 companies did we talk about for current events?
Who are Google, Apple, Ikea and Fiat
In what city was double entry accounting created in?
What is Venice
How much of business entertainment expenses can you deduct?
What is usually issed to the employee that documents the durnation of the short-term move and explains the international benefits being offered?
What is an assignment letter?
Which 2 countries did we use in the example of tax treaties?
Who are Austria and Germany
Who was the only winner of the 4 court cases we talked about?
Who is Google
What famous gangster was indicted for tax evasion?
Who is Al Capone
Your $132,000 Porsche got stolen. How much can you claim for a personal casualty and theft loss?
What is $0
What model do many companies adopt for cross boarder employment structure?
What happens when partnership interest is completely owned by one entity?
What is, the partnership is dissolved and becomes part of that entity
What is the favorite country that many multinational companies decided to run funds through that are now on trial for granting tax favors.
What is Ireland
How many accountants are employed by the FBI?
What is 2,000
Sam broke his leg and had to pay $13,000 in medical expenses. His AGI is $52,000. How much can he deduct under the 2018 rules?
What is $9,100
To prevent the possibilities of accumulating penalties, interest costs and other unanticipated costs, what are companies suggested to do?
What is to do as much pre-planning as possible to be aware and stop preventable issues
What are the European terms for partnership and corporations?
What are KGs for partnerships and Gmbhs for corporations?
In the Google court case, what was the argument for the French government on why they should be allowed to tax the income made from sales in their country?
What is French employees making sales to an Irish subsidiary
When was the first CPA exam administered, give or take 5 years?
What is 1896
Kevin and Ashley have three kids, Trevor, Brian and Kim. Trevor is 23 and a full time student at Fairfield University. Brian is 13 and Kim is 8. They all live with Kevin and Ashley. How much can they potentially claim in child tax credits?
What is $6,000
What is the purpose of FATCA?
What is to address noncompliance by US TP by using foreign accounts
movement of capital not the movement of establishment
WHat did Ikea do to avoid paying taxes?
What is paid royalties, interest and other charges to their sister company in a tax haven
What does Beteiligungsgesellschaft mean?
What is investment company