Research Paper On Taxes

The American Heart Association reports an even gloomier number, “Cigarette smoking is the most important preventable cause of premature death in the United States. It accounts for more than 440,000 of the more than 2.4 million annual deaths. Cigarette smokers have a higher risk of developing a number of chronic disorders. (AHA, 2005).

More than 35% of American adults are obese and as a consequence, are at increased risks for health issues such as heart disease, high blood pressure, and diabetes ("Overweight & Obesity"). The U.S. taxpayer is supplementing much of the cost to treat obesity related health issues through public health programs such as Medicare and Medicaid ("Economic Costs"). A positive externality will occur in the form of decreased health care expenditures on Medicare and Medicaid. The U.S. government should impose an excise tax on soda and other beverages that contain sugar. Consumers who drink excess sugary beverages impose a negative internality on their health; as well as imposing a negative externality on the American

Parent Corporation owns 85% of the common stock and 100% of the preferred stock of Subsidiary Corporation. The common stock and preferred stock have adjusted bases of $500,000 and $200,000, respectively, to Parent. Subsidiary adopts a plan of liquidation on July 3 of the current year, when its assets have a $1 million FMV. Liabilities on that date amount to $850,000. On November 9, Subsidiary pays off its creditors and distributes $150,000 to Parent with respect to its preferred stock. No cash remain to be aid to Parent with respect to the remaining $50,000 of its liquidation preference for the preferred stock, or with respect to any common stock. In each of Subsidiary’s tax years, less than %10 of its gross

AmeriSouth argued that cost-segregation study allocates $65,381 of Garden House's depreciable basis to “site preparation and earthwork,” depreciable over 15 years as a land improvement is allowable because it is a “site development,” but nowhere does it describe what work is included in this category. On the other hand, the Commissioner's expert claims that work papers show the expenses relate to the initial clearing and grubbing (i.e., tree removal) of the land which occurred before the apartments' construction in 1970.

Although it remains a large portion of the U.S’ economy, tobacco smoking can lead to a variety of diseases and disorders that affect the user. The effects of smoking tobacco not only affect the user but surrounding people as well: permanently destroying their lungs and children, increasing the chances of diseases and of cancer.

Over the last few decades, tobacco and nicotine prevention efforts have risen to an all time high. Prevention efforts focus on education to the public of the negative effects on one’s health when using tobacco and nicotine products, as well as with pleas to healthcare policymakers to increase restrictions on product manufacturing and sales. One policy effort growing in popularity in the United States is called Tobacco 21, which proposes to raise the legal age of purchase for consumers of tobacco and nicotine products to 21 years of age (Farber, Pakhale, & Neptune, 2016). Farber, Pakhale, and Neptune (2016) state that 90% of tobacco and nicotine users begin smoking before the age of 18, with 99% of users starting before the age of 26. Lower smoking cessation rates are associated with earlier ages of initiation and the tobacco industry is known to target youth in advertisement of these products lending to the early age of initiation. The tobacco industry themselves admit that increasing the age allowed for purchase to exclude youth would substantially effect their sales. Tobacco 21 laws also deter adolescents from gaining tobacco or nicotine products from friends 18 to 21 years of age, which is the most likely age group to supply younger teens. With this knowledge, placing tighter restrictions on consumers younger than 21 years of age, using the Tobacco 21 policy, may deter tobacco and nicotine initiation in hopes to prevent individual use at all in the future (Farber

As for the issue of whether or not you should take out another mortgage in order to supplement the conversion of Certificate of Deposits into Municipal Bonds, again, I.R.C. §265(a)(2) comes into effect and disallows any interest deductions sought, thus, removing the profitable advantage offered though the interest rates. In similar situations, such as Wisconsin Cheeseman, Inc. v. United States, 388 F. 2d 420 (1968), the Court ruled against the taxpayer on the claim that the taxpayer was only allowed deductions on the interest of the indebtedness incurred prior to the purchase of the tax exempt investments, meaning that only the interest deductions on the new debt incurred was disallowed. In Wynn v. United States, 411 F. 2d 614 (1969), the taxpayer was also disallowed to claim any deduction for the interest payments on the loans he incurred from the bank, the purpose of which was to expand the amount of tax-exempt securities the taxpayer currently possessed. In Drybrough v. Commissioner, 376 F. 2d 350 (1967), that taxpayer also tries to deduct the interest payments on his leveraged mortgages in order to expand their tax-exempt investment fund, and again, the Court referred to I.R.C. §265(a)(2), which forbids such deductions on the basis that the sum of the interest paid was used to purchase tax exempt securities, thus ruling against the taxpayer. Although the Court’s ruled

If you are going through a divorce, then you know how stressful it can be to all parties involved. Do you know how a divorce will affect your tax return? Follow a few guidelines to ensure that you don't make common mistakes when filing your tax return. If your divorce was final in the previous year, then you'll need to change your filing status. Seek the assistance of a good attorney before filling out your tax return.

If 90% of United States smokers could have another chance to redo it, they reported that they would not even have their first puff that initiated their tobacco addiction (Winickoff, Gottlieb, and Mello 2014). The Tobacco 21 bill is a fairly new legislation and already it has shown a decline in underage smokers as a result of its implementation. The results of the survey presented that the public opinion was largely accepting and supportive of the bill. The main argument against the bill is the harm that will come to retailers of tobacco products. Correspondingly, the argument is proven inaccurate and in favor of the bill. The past has shown the improved outcome of the country from the raise in the minimum alcohol age, and researchers regard

Facts: Murray Taxpayer was previously employed by a company who was illegally dumping chemicals into a river. Murray had knowledge concerning these illegal activities of his employer and made an ethical decision to report this to the Environmental Protection Agency. Upon inspection, the Environmental Protection Agency determined that Murrays employer was in fact illegally dumping and was appropriately fined for the charges. Murray’s employer reacted to his whistleblowing by firing him and making deliberate efforts to prevent Murray from gaining employment elsewhere. Murray then sued his former employer for damaging

History has proven that government penalties, in the form of taxes, deter smoking. The 2000 U.S. Surgeon General’s Report, Reducing Tobacco Use, found that raising tobacco-product prices decreases the prevalence of tobacco use, and tobacco tax increases produce significant long-term improvements in health. From its review of existing research, the report concluded that raising tobacco taxes is one of the most effective tobacco prevention and control strategies (7). Along with price increases, mass-media campaigns and smoking bans have made cigarette smoking pretty much unacceptable in today’s society. “Today, approximately 22 percent of adults age twenty-two and older are smokers, compared with 33 percent in 1979” (Thorpe 1440). It is clear, from these examples, the use of penalties to deter the unhealthy behavior of smoking is a successful intervention.

Raising taxes on tobacco products and implementing smoking cessation legislations can minimize the prevalence of smoking up to 30 percent to 80 percent over a 50-year period (Ekpu & Brown 2015).In 2009, NBC news stated that Kansas, one of the states, considering banning smoking at enclosed areas showed that if they banned smoking in restaurants, the state was going to save 20 million dollars in healthcare costs (Associated Health, 2009). West Virginia state implemented smoke-free laws and had an increase of almost 1 percent in restaurant employment (“Smoke Free Laws do not Harm Business,” 2017). Restaurant workers were more comfortable coming in to work knowing they would be breathing in fresh air. Although in Tennessee, percentage of adults who smoked in 2011 increased from 23 percent to 24.3 percent in 2015 (Fletcher, 2016). This increment was not that significant considering the fact that it was over a period of just 4 years. The annual health care cost in Tennessee directly to smoking increased from $2.16 billion in 2004 to $2.67 billion in 2017(“The Toll of Tobacco in Tennessee”, n.d.).

Smoking is injurious to health and a preventable cause of premature death. In the U.S.; it is estimated that one in each five adults smoke currently and about 480,000 people die prematurely from diseases caused by smoking or secondhand smoke exposure. (CDC tobacco use). The economic burden of tobacco use is also significant. About $100 billion per year is spent in medical expenses and another $100 billion per year in lost productivity. There is no safe level of smoking

Information that can be used in public policy planning for cigarette smoking is the value in the health assessment process known as the Precede-Proceed model, which is an understandable thorough structure for assessing and joining health needs for implementing, designing, and evaluating health promotion and other public health programs (Rural Health, 2016). A public policy is needed for cigarette smoking to be prevented and stopped by individuals who smoke. There has been an increase with male cigarette smoking in the community of Los Angeles, and a lot of young adults reported that they smoke. However, the percentage of smoking in the community is at large overall, and needs a public policy to be enforced for the community’s health rate with

The overall economic costs of smoking cigarettes has become somewhat of an epidemic in society for a variety of reasons. It includes numerous private and social costs. The private cost to smokers goes far beyond the price of cigarettes alone. Smokers also pay with their health, life, and finances. Alongside the great cost to smokers, they enjoy benefits to the same degree. The total cost of smoking not only effects smokers, but society as well. The externalities from smoking are both negative and positive. Society bears the burden of the negative externalities, or social costs, both physically and monetarily. The positive externalities, or social benefits, play a significant economic role in society. The tobacco