One advantage of the flat tax system would be the ability to cut double taxation. By doing this, the only tax would come from earned income. “In a flat tax system dividends, capital gains, and interest on savings will not be taxed” (Moreno 1). Investments should see a positive increase due to this. Another great pro to the system would be simplicity.
Submit the tuition reimbursement form to Human Resource G. Reimbursement Approval 1. The employee must submit their official grade to the Finance Department within 30 days of receiving their grade 2. Reimbursement will be included in the next one or two paychecks. 3. If the request for reimbursement is denied, the associate will be notified of the
There will be no point in raising the minimum wage if the price of products goes up. It will just be canceling out the changes. Another online article by Los Angeles Daily News, states that “To survive, more profitable businesses will have to reduce workers’ hours to a bare minimum, automate as many positions as possible and raise prices as high as the market will bear”. The only way for business people to live in these conditions is to raise their prices, but that will also mean that they will not make as many sales. Not as much sales, means that they won’t make as much
Since Marcy is wealthier than her sick husband she should consider gifting her property to her ill husband, Phil. In that way Phil’s estate is good enough for the estate tax exemption equivalent provided by the unified credit, or else it will be wasted. Marcy’s gift to her husband would be considered tax-free because of the unlimited marital deduction. In the event Phil would die, no estate tax would be payable because his estate tax liability will not exceed the unified credit. Moreover, Phil must not transfer the assets/property back to Marcy at death, so that he can take full advantage of his unified credit, otherwise his unified credit would be wasted.
This has been proven to be false; and in actuality the elimination of the penny may result in a net gain for consumers. With the elimination of the penny prices will be rounded up in some cases, however in other cases they will be rounded down. This will ultimately equal out and will not cost consumers more money. Also, it will result in a net gain for consumers because based on a study conducted in 2006, the time that will be saved in handling the pennies is worth about $730 million per year. (6) Furthermore, the studies that have shown that the presence of a rounding tax will increase prices are a myth.
The remaining funds are budgeted for Employer Retirement Contribution ($7,989), Social Security- salary( $4,298), Social Security- Merit/Bonus ($232), Retirees Health Care ($590), Merit Funding Admin ($936), and lastly, Deferred Compensation Match Payments ($480). Generally, these costs make up the insurance, social security, and benefit plans acquired by the
The following provide applied to intermittent and seasonal workers could be used to adjust compensation at the employee’s minimum age of retirement. Under FECA 10.216, “For intermittent and seasonal workers, whether permanent or temporary, who do not work either the same number of hours or every week of the year (or period of appointment), the weekly pay rate is the average weekly earnings established by dividing (÷) the total earnings during the full 12-month period immediately preceding the date of injury (excluding overtime) (A), by the number of weeks (or partial weeks) worked during that year (B) (that is, A ÷ B); or 150 times the average daily wage earned in the employment during the days employed within the full year immediately preceding the date of injury divided by 52 weeks, whichever is
Management wanted to look good in 1997 and decided to reduce their expense amount in 1997 by overstating the expense amount in 1996. This violates the matching principle because expenses that were related to revenue must be recorded in the same time period. By doing this it overstated net income in 1997 and made the management team look good to the Board and
To sum up all the points above, I would to say that the federal budget should always be balanced, based on the many advantages that have been discussed above. A balanced federal budget will benefit our country such as enhancing the economic foundation and reduces the volume of federal debt. If the government does not control their spending and this will cause the country become bankruptcy. On the other hand, when the government can manage their spending well then the country will prosper and the growth potential of an
A claim for unemployment benefits should be made at the TEC office within two weeks of the termination and during each subsequent two week period. The TEC will make an initial determination as to whether the person is eligible for benefits. If eligible, the TEC informs the former employer, because the former employer pays the benefits, the employer as the right to some of the information given by the former employee to the TEC and has an opportunity to present information. To be eligible to receive unemployment benefits, the employee must have worked for the employer for a certain length of time and must have made a certain amount of money in wages. The time period is called a base period, and it is based on the calendar quarter system.
But, I can insure you that higher tax prices are only a slight sacrifice that the government should be willing to take in order for free colleges. As I have stated earlier, with free college the national debt of America will decrease by 1.2 trillion dollars. High amount of debt is a primary reason why American taxes are already so costly, so if the overall debt decreases then the taxes in the United States will also decrease. This will allow for the taxes of free colleges to equal the same amount as taxes are today. In addition, free colleges will result in more Americans attending school after they graduate high school.