First Metro Pacific was able to persuade Francis to join the company as its Assistant Vice President for Finance which included a car plan worth P3,000,000 in its compensation The company purchased the vehicle and registered the same in favor of Francis. Assuming further that Francis is a non-resident alien not engaged in trade or business, how much is the fringe benefits tax

Which of the following would not be considered to be tax planning. An arrangement that: Reduces or defers assessable income Maximises or accelerate deductions Utilise different tax rules Maximises tax offsets Splits or diverts income Does not disclose income Kenny is an Australian resident adult individual who’s professional footballer and employee of an Australian football league club. During the income year, he received and derived the following amounts: $200,000 Match fees for his work in playing football games for his club in the league. $20,000 Prize awarded for being best and fairest player in the league. $10,000 Appearance fees for his services in appearing on a television show. $5000 Car expenses reimbursed by an employer based on distance travelled. During the income year. he incurred the following deductible outgoings: $10,000 marriage fees Kenny’s  total accessable income for the income year is: $245000 $235000 $230000 $225000 $220000 $215000 $210000 $205000 $200000

Mr. Young operates a photography studio as a sole proprietorship. His average annual income from the business is $100,000. Because Mr. Young does not need the entire cash flow for personal consumption, he is considering incorporating the business. He will work as a corporate employee for a $40,000 annual salary, and the corporation will accumulate its after-tax income to fund future business expansion. For purposes of this case, assume that Mr. Young's marginal income tax rate is 32 percent and ignore any employment tax consequences. a. Assuming Mr. Young's sole proprietorship does not qualify for the QBI deduction, by how much would Mr. Young's annual tax burden increase or decrease by incorporating? b. Assuming Mr. Young's sole proprietorship qualifies for the 20% QBI deduction, by how much would Mr. Young's annual tax burden increase or decrease by incorporating? Complete this question by entering your answers in the tabs below. Required A Required B Assuming Mr. Young's sole…

Jana is a shareholder in Jasmine Company, a partnership. Her share of the business's current ordinary business income was $250,000. She received no guaranteed payments and a $100,000 cash distribution from the business on December 1. Assuming that Alice's marginal tax rate is 37%, calculate her after-tax cash flow from the business this year. Ignore self-employment taxes and assume she is not eligible for the Section 199A deduction.  a. 92,500 b. 100,000 c. 7,500 d. 63,000