Essay about Memorandum

1961 WordsJan 19, 20138 Pages
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…show more content…
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

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