Taxes
At the federal level, the collection of taxes raised is handled by _______
What is Internal Revenue Service?
This is the most common form of business structure
What is a sole proprietorship?
The giving of one’s time, talent or treasure for the sake of another, or for the common good.
What is philanthropy?
The primary goal of diversification is to limit the impact of this on a portfolio over time.
What is Volatility?
a financial vehicle used in estate planning and business planning to transfer assets tax-free.
What is life insurance?
Name 2 of the 4 types of inflation
What are stagflation/deflation/inflation/hyperinflation
This is the type of business that carries the name of a well-known company and uses its advertising and managerial skills
What is a franchise?
The most inefficient tax transfer of assets to a non-profit
What is cash?
The number of stocks in the Dow Jones Industrial Average – DJIA.
What is 30?
This corporation insures your bank account.
What is FDIC or Federal Deposit Insurance Corporation?
This is a tax on imported goods
What is a tariff?
This type of corporation provides social, educational, and religious services
What is a non-profit organization?
A charitable giving vehicle to support donors to make charitable contributions, receive an immediate tax benefit and grant funds over time
What is a donor advised fund?
The three major asset classes for investments.
What are cash/fixed income/equities?
When selling a business, these are the three generally accepted potential buyers.
Who are employees, family, or 3rd party?
This is a tax on alcohol, gas, cigarettes, and other goods.
What is luxury/sin tax?
Type of process planning to develop key business leadership positions.
What is succession planning?
A planning vehicle in which property or money is donated to a charity but the donor continues to use the property or receive benefit while living, and the beneficiaries receive remaining principal after specified time.
What is a Charitable Remainder Trust?
A type of fund that trades throughout the day (as opposed to a mutual fund which is valued at the end of the day).
What is an ETF/Exchange Traded Fund?
The name of trust that can be changed by a trustor during his lifetime.
What is a revocable trust?
The current federal impact tax is this type
What is Progressive?
Legally binding agreement between co-owners of a business that governs exit planning.
What is buy/sell agreement?
At the end of the fiscal year, this type of organization must use all profits that have been made to develop the programs and intentions of the organization.
What is a non-profit organization?
BRIC is an acronym that stands for these four emerging market countries.
What are Brazil, Russia, India, China?
What famous business owner passed in 2010, when there was no estate tax, that if there was he would have owed the government $100,000,000?
Who is George Steinbrenner.