Internal Revenue Codes Essay Example | Topics and Well Written Essays - 750 words

Internal Revenue Codes - Essay Example . Internal Revenue Bulletin (2004) stipulates guidance for capitalization of expenditures. There are a number of intangibles listed therein expenditures incurred for acquisition of which are required to be capitalized if they are held to be for more than 12 months period. Para 4 of section1.263 (a)-4 and 1.263(a)-5 are added in the bulletin to read as follows. (a) Overview. This section provides rules for applying section 263(a) to amounts paid to acquire or create intangibles. Except to the extent provided in paragraph (d)(8) of this section, the rules provided by this section do not apply to amounts paid to acquire or create tangible assets. Paragraph (b) of this section provides a general principle of capitalization. Paragraphs (c) and (d) of this section identify intangibles for which capitalization is specifically required under the general principle. Paragraph (e) of this section provides rules for determining the extent to which taxpayers must capitalize transaction costs. Paragraph (f) of this section provides a 12-month rule intended to simplify the application of the general principle to certain payments that create benefits of a brief duration. Additional rules and examples relating to these provisions are provided in paragraphs (g) through (n) of this section. The applicability date of the rules in this section is prov ided in paragraph (o) of this section. Paragraph (p) of this section provides rules applicable to changes in methods of accounting made to comply with this section. Terming a credit card agreement as a finacial interest as iten no 2 (i) ( c ) (2) at page 26, the bulletin states that aqusition expendtures for credit card should be capitalised. Analyzing the code 195, it has been found that it applies to capitalization of business start-up expeditures which can be deducted from the income over a certain period depending upon the election of the tax payer. Credit card acquisitions expenses do not come under the defintion of start-up expenditures as per section 195.( IRC ) Please refer to the Appendix A for defiintions. In addition to the above clearly defined calrifications, in FSA 200136010, the conlusion arrived at by the Service was that a bank must capitalize the expenditure involved in acquisition of credit card receivables. It includes also credit card accounts from other institutions. In this connection the bank had in its return "deducted the cost of acquiring and securitizing the credit card receivables" ( David J 2002), which the tax officer disallowed. On appeal by the bank against the deductions, it was pointed out that in the case of INDOCO Inc, 503 US 79 (1992), the IRS had already decided that credit card receivables were assets capable of giving future benefits along with interst.and that IRS further decided that it could not be amortized also under sec 195 which only provided for investigative expenses for starting a buisness and not for purchasing a partcular capital asset in reply to the contention of the bank that the expnses were of investigatory in nature and could therfore b e deducted. Under the circumstances, it is

The Protestant Reformation Essay Example for Free

The Protestant Reformation Essay The protestant reformation was primarily an economic event because the entire idea of reforming the church started with the validity of the sale of indulgences. Indulgences were purely for economic gain when it came to the catholic church. Because of this sale of indulgences protestants and other anti-pope figures such as Savonarola, Hus, Wycliffe, and Luther, began speaking out of the corruptions and abuses of the church. It it was for the sale of indulgences (purely economic) there would be no reason for the reformation. The sale of indulgances went on for a long while. They were peddled everywhere. They were sold for several reasons, such as funding crusades, pope pocket money, feed the humanistic tasts of the pope. The people recieved salvation, were excused from all sin and future sin and guaranteed a seat in heaven. Basically a form of religious taxation, the church began raking in enormous amounts of money. The Catholic heirarchy alone owned 75% of all the money in France, and 50% of the wealth in Germany. Besides the sale of indulgances clergymen began selling titles, positions, offices, etc. to rake in even more money. The most famous peddler of indulgances was Archbishop Tetzel, who traveled from town to town, especially throughout Germany, (Wittenburg)T hough by this time the special sale of indulgances had gone under way. This indulgance gave you complete absolution from all sins, and treatment for future sins. That would definetly guarantee you a spot in heaven. The money from the sale of these indulgances was going to pay for the rebuilding of St. Peters Basilica. He gained the attention of Martin Luther, the founder of the protestant revolution, and he attacked Tetzel, and challenged the sale of indulgances. Luther was angered at this. He posted up his 95 theses at Wittenberg Castle, in which he denounced the selling of indulgences. Part of his anger was that German money was going to Rome. Thanks to the printing press, the 95 theses were printed all over Germany. In Address to the Christian Nobility, he said that secular government had the right to reform the church. Now Luther wasnt stupid. To a degree he sucked up to the nobles because he knew that if the nobles went with him, that would mean that his ideas, and later his reformation would be successful, because it had support from the the people with power. In On the Babylonian Captivity of the Church, Luther attacked the sacraments. Finally  in Liberty of a Christian Man, he hit it: salvation by faith alone. In response Pope Leo X issued a Bull (papal decree, not the other kind of bull) and demanded that Luther recant. Luther took the Bull, went outside and publicly burned it, he no longer accepted papal authority, and the pope excommunicated him. In 1521 he went before the Diet of Worms, when asked by Charles V, Holy Roman Emperor, who said: Do you or do you not repudiate your books and the errors that contain? Luther responded, Unless I am convicted by Scripture and plain reason I do not accept the authority of popes and councils, for they have contradicted each other my conscious is captive to the Word of God; I cannot and I will not recant anything, for to go against conscience is neither right nor safe. God help me, Amen. Martin Luther and his beliefs and followers were who started the protestant reformation. So without these economic factors the Protestant reformation would never have had reason to begin, therefore the reformation was primarily economic.

Ghost Children of San Antonio Essay -- Urban Legends Ghost Stories

Ghost Children of San Antonio The legend of the Ghost Children of San Antonio dates back to the first half of the 20th century, with the majority of accounts placing its origins within a period extending from the 1930’s to the 1950’s. The story is based on a supposed freak accident involving a school bus full of children. As the story goes, the school bus stalled over a set of train tracks and was subsequently hit by an oncoming freight train, killing everyone on board the bus. (Weiser) Not soon after this grisly event, it was said that, should anyone park their car on the very same train tracks and place the gears in neutral, the car will roll uphill (seemingly defying gravity) off of the train tracks to a safe distance away. According to legend, the ghosts of the dead children from the bus accident push one’s car to safety (seemingly uphill) so they may avoid a similar fate. (Mikkelson) This story was recounted to me by a 20 year old female student at my University. She is a Communications major, coming from an upper middle class family in the rural suburbs of New Jersey. I interviewed her in her apartment sometime in the late afternoon in an informal setting. Although she is skeptical about things such as urban legends and ghost tales, she explained to me that this story always unsettled her in an inexplicable way. Yeah, there’s one [story] that’s pretty scary that comes to mind. My one friend [name omitted] – I think you met her once – well she moved to Jersey from Texas about 3 years ago and told me about this place kids would go when they were drunk or just looking for something to do. I asked her if she’d ever been there, but she told me she’d only heard it from a friend of a friend kind of deal. Well, an... ... that the story is representative of how all ghosts behave. Society prefers to consider ghosts as â€Å"protectors† or â€Å"helpers† rather than as â€Å"frighteners† or â€Å"killers.† Works Cited Juliano, Dave. "Haunted Places in Maryland." The Shadowlands Ghosts and Hauntings. 09 Apr. 2006. http://theshadowlands.net/ghost/. Lane, Stephanie. "Cry Baby Bridges." Dead Ohio. 09 Apr. 2006 www.deadohio.com. Mikkelson, Barbara. "Helping Hands." Snopes. 24 Mar 2003. Urban Legends Reference Pages. 09 Apr. 2006. www.snopes.com. Sceurman, Mark. Weird U.S. Weird NJ, Inc. 09 Apr. 2006. www.weirdus.com. Wagner, Stephen. "The Haunted Railroad Crossing." About Paranormal. About, Inc. 09 Apr. 2006. http://paranormal.about.com. Weiser, Kathy. "Lone Star Legends: Ghostly Children." Legends of America. Oct 2005. Legends of America.com. 09 Apr. 2006. www.legendsofamerica.com.

Similarities Between Terrorism and Organized Crime:

Similarities between terrorism and organized crime: Today’s terrorism and organized crime groups are so similar that their differences are starting to blur and the commonalities are becoming clearer. Terrorism and organized crime is a perfect match, that may have different objectives, but they can accomplish their goals through one another. The underground network, tactics they share and utilize to accomplish a task in support of one another, recruiting methods, financial institutions, and the effects of globalization and technology are the main similarities.In today’s world one does not survive without the other. Dictionary. com defines terrorism as, â€Å"The use of violence and threats to intimidate or coerce, especially for political purposes; the state of fear and submission produced by terrorism or terrorization; and a terroristic method of governing or of resisting a government. † Terrorism has been around since the 1st Century AD. Many civilizations have used terrorists tactics on a weakened state or a state they which to overthrow. One of the first uses of modern terrorism was Maxmilien Robespierre.After the French Revolution, Robespierre was a dictator that used terrorism to remain in control. He stated that, â€Å"Subdue by terror the enemies of liberty, and you will be right, as founders of the Republic. † In the late 1960s, International Terrorism took the world over with hijacking. Of recent most terrorism is based on an ideology and religion. The ideology of the different terrorists groups may differ from religion, politics, animals, the planet, to many different reasons. However they use fear to accomplish a goal.Many different law enforcement organizations have different definitions of terrorism, but they all describe using terror/fear, usually against non-combatants, in order to further their cause. They are organized to ensure if one is caught or killed, the ideal can continue on and not be compromised. They protec t the organization with cells and are given only pertinent and applicable information to each cell. Legaldictionary. com defines organized crime as, â€Å"A widespread group of professional criminals who rely on illegal activities as a way of live and whose activities are coordinated and controlled through some form of entralized syndicate. † The traditional organized crime groups were developed in Sicily by individuals who wanted to control a community. These individuals were looking to become rich through corruption and fear. Organized crime moved to the United States during immigration and the repression of organized crime in Southern Europe during the early 1900s. Organized criminals sought in opportunity in the United States. Many immigrants came to America seeking the â€Å"American Dream†, but those dreams turned to nightmares. The easiest and fastest way to get the American Dream was through the â€Å"Mafia†.The mafia sought two things and two things onl y, money and power. The mafia quickly grew in size; because like prison you either stuck with your kind or found yourself face down in the street. The mafia gave protection and supported your family. With a weakened state in the new United States economy, politicians and law enforcement were easily bought out. They organized themselves so that the Boss spoke and everyone listened; however unless you were a CPT or high ranking individual, you rarely ever heard it directly from the head honcho.They protected the boss, by limited exposure and just in case the police wasn’t on their payroll they could never tie it to him. The families used mainly two different methods to control a community. They either used fear or kindness. Many communities protected organized crime families. They were the protection to the community and supported the community with jobs and money. The old adage goes, â€Å"Don’t bite the hand that feeds you. † However if you challenged them, you were usually met with a swift and gruesome punishment.Examples were made not to challenge the family. Many times in the news it is hard to remember which organization is a terrorist’s organization and which is an organized crime. Their tactics are so similar and their ideology is becoming so indifferent. Terrorist will sometimes conduct attacks such as kidnapping, bank robberies, smuggling of contraband, and other illegal activities only for capital gain to further their cause. This is no different than organized crime to gain more money for power. Many times these activities find these two organizations in cohorts.Underground networks have become the preferred method of any illegal organization. Organized criminals have street credentials that a normal criminal cannot gain due to its size, trust, and reliability. Organized criminals have spent centuries developing underground networks in order to traffic contraband throughout the world. â€Å"The FBI estimates that the unde rground economy produces $500 billion per year. An underground economy requires secret institutions, and terrorists have found various enterprises for hiding money,† (Terrorism & Homeland Security, 7th edition; Jonathan R. White; 2012).Underground networks are not only used for smuggling money, drugs, or weapons, but people as well. The organized crime organizations are able to provide clean papers to terrorists in order for them to move from city to city undetected. These underground networks are used so widely now that if the terrorist organization were to crumble, the terrorists of the world would have to focus on their immediate area because they would have no way of moving people, weapons, or money. As part of the underground network both organizations are tied to one another through many capital gaining ventures.In Afghanistan the drugs are used to sell to organized crime for distribution. The terrorists will grow, protect, and even traffic the drugs for a substantial am ount. The money gained from organized crime is then funneled into their cause. Reports have also shown that Al-Qaeda is working with drug lords in Mexico, which help them, sneak into the United States. Who better then Mexican drug lords to help terrorists into the United States? One of the most profitable ventures in human smuggling is the human sex slave trade.Terrorist’s organizations will capture women from foe tribes and other places and then they are sold to organized crimes using the underground network to sell them and smuggle them. Terrorists and organized crime are so similar in their tactics that at times it seems as if there is a school that both organizations send their recruits to. The first tactic is kindness to their community. The concept is to protect the community and hopefully in return you are shown loyalty. Provide money, jobs, and a safe haven to the locals and when law enforcement omes around no one is willing to talk to them. When this tactic doesnâ₠¬â„¢t work they turn to fear. If anyone in the community speaks out against the organization or talks to law enforcement they are made an example of and most of the time the person is killed in the most gruesome manner to show the others that they should never talk to law enforcement. Both organizations use bombs, burning bodies, decapitation, killing of the whole family and friends, and torture. To be in an organization, the two main ways are to be either born into it or recruited.Many times the family members or terrorists are born and raised into an organization. From toddler they are taught to hate a certain kind of person, hate a religion or government, and to want all the power and money in the world. Both organizations look to recruit people, because without recruiting the organizations could not survive. They look for easily controlled and people with little to no existence. The potential recruits are usually people that can easily conform to their way of life and standard, no family ties, and need something to believe in.The organizations offer them something they have never had before such as; love, commitment, loyalty, something to believe in, and a purpose. In order to complete their tasks, it takes a lot of money. Both organizations launder their money through one another and legitimate and legal businesses. Three weeks ago, three used car dealerships were closed down and the owners were arrested for funneling money through the dealership for terrorists. The easiest thing to do with illegal money is to turn it right back around through a legal front. Through the underground network, both organizations have what is kind of like a line of credit.It is very similar to wire transfer or they are given credit wherever they are. For example, when drugs are sold to a criminal organization in Afghanistan, the money may not be received right away or it may be received in another country. This type of financial institution takes years to build and trust. The ability to communicate and globalize has increased the effectiveness of the terrorists and the profit of the criminal organizations. Both organizations are using technology to easily communicate on different continents and work together.Technology has benefited terrorists by giving them another avenue for an attack. Cyber terrorism is one of the biggest threats today. Events like September 11th, have globalized terrorism and made terrorism the number one objective of most countries. â€Å"The Age of Globalization has created the conditions allowing terrorists and organized crime groups to join forces. Such as the FARC in Columbia,† (Dangerous Alliance: Terrorism and Organized Crime, Ron Chepesiuk, 2007) Due to the emergent link between terrorism and organized crime the War on Terrorism has developed into a world effort.Terrorism and organized crime are two entities that are heavily sought by law enforcement, so in order to stay one step ahead working together is a benefit fo r both. If the terrorist assist in moving drugs through their territory, they can continue building bombs with the money earned. If organized crime can learn new tactics from terrorism they can control their own lands and people more efficiently. In the world of technology and world policing the similarities and unity between the organizations keeps them both in business.

Bill Gates Leadership Quality Essay

Gates and his two sisters had a comfortable upbringing, with Gates being able to attend the exclusive secondary â€Å"Lakeside School†. Bill Gates started studying at Harvard University in 1973 where he spent time with Paul Allen. Gates and Allen worked on a version of the programming language BASIC, that was the basis for the MITS Altair (the first microcomputer available). He did not go on to graduate from Harvard University as he left in his junior year to start what was to become the largest computer software company in the world; Microsoft Corporation. Bill Gates married Melinda French Gates in 1994 and has three children, Jennifer, Rory and Phoebe. Both Bill and Melinda are keen Philanthropist’s starting the Bill and Melinda Gates Foundation which has committed more than $3. 2 billion to global health, $2 billion to improve learning opportunities to low income families, $477 million to community projects and more than $488 million to special projects and annual giving campaigns. Bill Gates retired as Microsoft CEO in 2008. Bill Gates- An Entrepreneur, Manager and Leader: †¢ Focus: Bill Gates has demonstrated over nearly thirty years the importance of clarity of thought and execution. Unlike many of his contemporaries, he did not move away from the domain he understood better than anything else – software. He has pursued the objective of dominance in software in general and operating systems in particular that has few parallels. Venturing into unfamiliar territory may be fashionable but carries a high degree of risk. If ever a need arises for an absolute example for what Peters and Waterman called â€Å"Stick to the Knitting† and Hamel and Prahalad termed core competence, one needs to look no further than Bill Gates and Microsoft. Focus also means the ability to pursue one’s goals whatever the obstacles may be. Such a degree of perseverance is hard to come by. †¢ Thinking big: Along with focus, the ability to dream big and pursue that with single-minded determination sets Gates apart from other entrepreneurs. This is particularly true of entrepreneurs from emerging economies like India where an ultra-conservative attitude has stifled growth. Entrepreneurs need to develop confidence in themselves and their team that they can take on the world and come out winners. †¢ Passion: Simply put, if anything is worth doing, it is worth doing well. From a simple thank you note to a complex proposal, it is critical to place the stamp of excellence on whatever one undertakes. Equally important is the need to constantly innovate. Change is the only constant and the more agile and adaptive we are to change, the more successful we can be. †¢ Learning as a life-long process: Though dropping out of college to his dreams, Bill Gates has probably read and written more than most of us ever will. In the process, he has shown the limits of formal education. Important as formal education is, perhaps it is more important to realize that learning is a life-long process. Knowledge is infinite. Even if we keep assimilating it without a break throughout a lifetime, we would not have scratched the surface. Knowledge should lead to humility and wisdom – not arrogance and one-upmanship. Gates as philanthropist: Aside from being the most famous businessman of the late 1990s, Gates also has distinguished himself as a philanthropist (someone working for charity). He and wife Melinda established the Bill ; Melinda Gates Foundation, which focuses on helping to improve health care and education for children around the world. The foundation has donated $4 billion since its start in 1996. Recent pledges include $1 billion over twenty years to fund college scholarships for about one thousand minority students; $750 million over five years to help launch the Global Fund for Children’s Vaccines; $50 million to help the World Health Organization’s efforts to eradicate polio, a crippling disease that usually attacks children; and $3 million to help prevent the spread of acquired immune deficiency syndrome (AIDS; an incurable disease that destroys the body’s immune system) among young people in South Africa. In November 1998 Gates and his wife also gave the largest single gift to a U. S. public library, when they donated $20 million to the Seattle Public Library. Another of Gates’s charitable donations was $20 million given to the Massachusetts Institute of Technology to build a new home for its Laboratory for Computer Science. In July 2000 the foundation gave John Hopkins University a five-year, $20 million grant to study whether or not inexpensive vitamin and mineral pills can help save lives in poor countries. On November 13, 2000, Harvard University’s School of Public Health announced it had received $25 million from the foundation to study AIDS prevention in Nigeria. The grant was the largest single private grant in the school’s history. It was announced on February 1, 2001, that the foundation would donate $20 million to speed up the global eradication (to completely erase) of the disease commonly known as elephantiasis, a disease that causes disfigurement. In 2002 Gates, along with rock singer Bono, announced plans for DATA Agenda, a $24 billion fund (partially supported by the Bill and Melinda Gates Foundation) that seeks to improve health care in Africa. Although many describe Gates as cold and distant, his friends find him friendlier since his marriage and since the birth of his daughter, Jennifer, in April 1996. Further, he recognizes his overall contribution to both the world of technology and his efforts in philanthropy. In Forbes magazine’s 2002 list of the two hundred richest people in the world, Gates was number one for the eighth straight year, coming in with a net worth of $52. 8 billion. Bill Gates Criticism: With his great success in the computer software industry also came many criticisms. With his ambitious and aggressive business philosophy, Gates or his Microsoft lawyers have been in and out of courtrooms fighting legal battles almost since Microsoft began. The Microsoft monopoly sets about completely dominating every market it enters through either acquisition, aggressive business tactics or a combination of them. Many of the largest technology companies have fought legally against the actions of Microsoft, including Apple Computer, Netscape, Opera, WordPerfect, and sun Microsystems. Why do I like Bill Gates: I think Bill Gates represents the best of us. – its not just what he’s doing but how he thinks about what he’s doing. He’s a curious geek. He wants to find interesting problems to solve. He believes that smart, self-motivated people working together can make a difference. Bill Gates reflects the best qualities of a generation that has grown up finding the innovative ways to apply science and technology to impact our everyday life in mostly positive ways. Gates made an important and potentially difficult transition at age 52, leaving Microsoft as CEO and devoting more of his time and energy to the Bill and Melinda Gates Foundation. It’s a shift in focus, moving from defining strategy for Microsoft to a broader strategy for improving the lives of the world’s poor. He is a self-made American who has matured into a role model and leader. He is thoughtful and tactful where a younger version would have been brash and impetuous. Like Windows, improvement for Gates has required multiple iterations but the insistence on getting it right won out eventually. The newest release of Bill Gates is the best yet. He’s not just analytical when he talks about improving education. He appears to be moved while describing his interaction with highly motivated teachers who see their profession â€Å"as a higher calling. † He highly recommends â€Å"Big History† a series of lectures by David Christian, available through â€Å"The Teaching Company. † It`s really very depressing when we learn that how American executives have brought ruin to American business and our economy. They aren’t leaders worth following. Gates is different. He deserves genuine admiration, in my view. He’s more than a technologist. He’s both a realist and an optimist. He’s become a world leader worth listening to.