November 18, 2012
TAX FILE MEMORANDUM
SUBJECT: Peaceful Pastures Funeral Home, Inc. (Peaceful)IRS Audit Notice
Today I met with Peaceful to discuss the IRS audit notice they received regarding the reporting of income from Peaceful’s prepaid program. FACTS: Peaceful does not report payments received from a preneed contract as income until the year in which the funeral service is provided. Peaceful’s preneed contract allows for a refund of payments at the contract purchaser’s request any time until the goods and services are provided.
ISSUE: Should Peaceful include payments received from the prepaid program as income for the year in which they are received?
CONCLUSION: Based upon the refund clause in the contract and the
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Research Essay Assignment 1
1. Breitling Oil and Gas The reason why they think people should invest in oil is because everything revolves around these products. It’s a natural resource and that the United States is trying to control the supply of this product.
The secret to asset appreciation is to buy in the path of growth.
Oil is one of the most important natural resources known to mankind. For most societies in the world, oil is the principal natural resource that fuels their economies. Then why, in this great age of communication and technology, do we need to be concerned about a natural resource like oil? Simple. Nearly 98% of everything you have or do is in some way related to crude oil. Heat for your home, gas for your car, 2 liter plastic bottles for pop, and petroleum jelly are just a few examples of products created from crude oil. The United States has the greatest standard of living in the world, as well as the largest economy. Why? Because we have always tried to maintain control over the supply, as well as price, of oil. Over the last 10 years, the U.S. economy has undergone the largest economic expansion in history and cheap oil has fueled this unprecedented growth. (Faulkner)
Unlike the 1970s, when the U.S. was held at bay by OPEC withholding oil production for political reasons, the growth of
In our society, oil is one of the core requirements. Whether it is to drive from a point A to a point B or to fly between distant countries, oil always had a fundamental impact on our civilization. Its impact is felt, on a daily basis and under many aspects. Not a day goes by without hearing about the Brent's changing undulation, on the markets in New York or London. Some have thought that the desire to gain control of Iran's oil resources was the core of the CIA's intervention in that country, in the 1950s. In recent years, it was considered, by left-wing groups, that the war in Iraq was based upon an attempt of foreign control over the Iraqi petroleum resources. Even though both events have an unquestioned place
Oil has often been referred to as any economy’s lifeblood. Although this is an overemphasis, oil has been the key, nonhuman resource of the economy throughout the largest part of the 20th century. In the book “The Prize: The Epic Quest for Oil, Money, And Power” by Daniel Yergin, the author illustrates the political, societal, economic, and geo-strategic importance of this product.
Environmentalists are one the biggest critics against the notion of increasing domestic oil drilling. By increasing the amount of drilling we do in the United States, we increase the risk of disasters like the Deepwater Horizon spill in the Gulf of Mexico. Disasters are hardly the only source of economic damage either, to find oil reserves under the ocean, seismic waves are generated into the ground. These waves bounce off the ground back up to the ship, where computers and scientist can use the results to make educated guesses on whether or not oil is located under the surface. These seismic waves can wreak havoc with marine animals like whales; where in one case over 100 whales beached themselves to get away from the painful experience (Nixon). Using seismic waves does not even guarantee that oil might be located underneath the surface, the only way to tell is to actually drill into the potential finds causing even more destruction for what might be for no gain. Once oil is found and drilling has begun, the amount of damage done to the environment can become unimaginable. The recent example is that of the Deepwater
With gas prices on a slow rise it is no surprise that the United States has a huge dependency on oil. In a recent statistic from the US Energy Information Administration stated that in 2012 alone roughly 10.6 million barrels of petroleum were imported into the US daily. Most recently BP was accused of spilling approximately 470 to 1228 gallons of oil. And in recent past the major oil spill with in the Gulf of Mexico which occurred in 2010 that is by many is considered to be the worst oil spill in US history. An estimated 4.9 million barrels of oil was leaked into the Gulf coast. Being detrimental to not only wildlife but also has a huge impact on the planets general population as well. Most if not all forms of transportation with a large portion being cars run on oil and little alternatives to what can be used as a substitute. With such a high dependency on oil as well as being a high risk factor why hasn’t the US looked to other forms of energy that are both clean and efficient? Many countries have found alternative ways to supply energy. Most notably Sweden, in which in later years has been noted to actually import waste to use for their energy. If a viable energy alternative is not implemented then dependency on oil may inevitably deteriorate the infrastructure in which this country is operated upon as well as consequently negatively affect natural resources and wildlife to a point in which it will be near impossible to rehabilitate.
The U.S. should invest in alternatives to oil, and drill on the United States grounds because it will assist the economy, preserve energy and fix the world’s environmental problems. The supply and demand for oil is always on the rise, and problems are contemplated with the use for oil. Those problems are starting to catch up to the modern world, and something needs to change before the world enters a black out. Experts can predict that there is estimated to be somewhere around 61 years of oil left for us to use at our current rate. The demand for oil is always rising. People in today’s modern society rely so heavily on oil, that they would not know what to expect if it
Our client, Dr. Thomas Furlow examined John Brown on August 3 and realized that his tooth was infected. Dr. Furlow recommended Mr. Brown return because of the infected tooth. However, Mr. Brown went on vacation and disregarded Dr. Furlow’s recommendation to return.
Benjamin Sovacool explains in his article that over the period of twelve years, the United States shale gas production increased 24.5 times the amount it produced in 1998. From 0.2 trillion cubic feet to an enormous 4.9 trillion cubic feet. Natural gas is also a huge financial benefit to North America. Before this drastic increase of fracking and natural gas production, the United States imported a clear majority of its oil and energy sources from the Middle East. This caused the middle east to obtain a control over the United States economic situation. For example, the 1979 oil embargo caused by OPEC (organization of petroleum exporting countries). According to Kimberly Amadeo, their decision to increase oil prices by a meager ten percent, caused oil rationing in the United States and worsened the already declining economy at this time. Since the increase in fracking and natural gas production, the U.S. has become decreasingly reliant on imported energy sources. Richard Janson denotes, that the impact of this influx of cheap gas has had many positive impacts on not only the economics of the energy industry, but foreign policy and the United States domestic policy. With the downfall in the need for imports for energy and the rise of hydraulic
On August 28, 1859, George Bissell and Edwin L. Drake found oil in oil creek Pennsylvania. Oil did not become popular (or a major industry) until the late 1800’s. It was still a great improvement and (in today's time) one of the most important advancements all-time It is important because most everything that is in the world requires oil in order to run properly. Oil fuel our airplanes, cars, and trucks, to heat our homes, and to make products like medicines and plastics. It pollutes our environment. It causes danger to plants and animals d spilled. When the oil spilled n the sea, it caused tremendous danger to the sea animals. Oil helps because after being distilled it causes tarry residue which helps road surfacing, and for roofing. When
Several oil-countries have been facing economic and political turbulence as a result of the crash in oil prices, and there is disagreement among OPEC as how to handle the situation. (Krauss) While this is happening, America’s oil production continues to rise, as it inches closer to becoming an energy superpower in production and consumption; and countries that depend on their oil exports face recession.
Many critics argue that oil has had too big an impact to our society that we have become too dependant on it. The fact that oil is a non-renewable resource makes us more vulnerable for the inevitable change in the future. However, oil is arguably the best energy provider in our generation. It is cheap and easy to develop and transport. It is highly efficient (compared to alternative sources of energy). To simply discontinue the development of the oil sands would leave huge consequences. The global economy would suffer, as well as, possibly, the quality of lives of people. The unlimited "need" for oil in our society cannot be limited by government decisions. Rather than changing an
One reason the government should stop investing in oil because it has a negative impact on our environment. One of the most striking examples of this is the oil spill in the Gulf of Mexico in 2010. The spill covered the ocean floor and surface with oil throughout the gulf and beyond. Overall, the impact from the spill can still be seen in
Prior to the decline of fuel prices, I had always thought there was not enough being done here in American to contribute to the production of oil. Until now, fuel prices were astronomical. Americans were having to plan out their route and car pool due to excessive prices. Unnecessary trips was not an option.
America must wean itself off of dependence on foreign oil, and one valid solution to this problem is offshore oil drilling and production. America’s economy is heavily based on petroleum, as though it is the nation’s blood; a necessity for survival. About 25% of oil produced in the U.S. comes from offshore rigs. Most of the U.S. coastline has been off limits for oil drilling since the early 1980s. Due to environmental concerns after an oil spill off the coast of California in 1969, an offshore drilling moratorium was imposed. Since then, the U.S. has amplified its energy consumption to where it uses nearly 25% of the world's oil. Meanwhile, the U.S. produces about 10% of the world's oil. That has made the U.S. heavily reliant on imported
When you’re selecting a final resting spot for yourself or for a loved one, tranquility, privacy, and a beautifully maintained environment may rank high on your list. The Abriola Parkview Funeral Home offers the Fairfield County community with an elegant and peaceful place for tasteful funeral services, pre-arranged funeral plans, and memorializing late loved ones.
“National Security Consequences of United States Oil Dependence” is an article created by an Independent Task Force which emphasizes how in the future the United States can experience severe consequences from using an abundant amount of oil. "For the United States, with 4.6 percent of the world's population using 25 percent of the world's oil, the transition would be especially disruptive" (Task Force 212). The transition they describe is to an economy that relies less on petroleum. This dependence on oil could possibly result in the United States to suffer with economic, and social downfall as the entire country depends on the oil we obtain. One alternative to this oil dependency is to explore all American territory for oil, which involves