Martinndungu1986

"Long" journey out of the grave - R3-7 Holding period is always LT for inherited property from deceased person 3 Taxes on C Corp - R3-58 Up to 3 types of taxes on C-Corps: 1-Regular tax 2-Accumulated earnings or Personal holding comp 3-Alternative minimum tax 4 Areas of AMT - R2-58 Areas of AMT 1-Exemption formula 2-Distinguish from adjustments and preferences 3-AMT credit carryforward 4-Credits to reduce AMT (not regular tax) A LIE - R4-42 Adjustments to Corporate AMT Adjustments ...

501(c)(1) organization - created by an act of congress ex. federal credit unions 501(c)(2) organization - formed for exclusive purposes to hold property, collect income from property, and turn over NI to exempt org. 501(c)(3) organization - charities A resulting trust may arise where - an express trust has been created gratuitously and it fails (I) because it is impossible to carry out. Also, the fulfillment of a trust purpose (III) could result in the creation of a resulting trust if tru...

3 Elements of a Legally Enforceable Contract - Offer + Acceptance Exchange of consideration Lack of defense (minor, fraud etc.) 4 elements of negligence - duty of care, breach, causation, damages/injury 5 ways to perfect secured transactions - Filing Taking possession (pledge) (tangibles) Taking control (intangibles) Automatic perfection Temporary perfection A PMSI creditor: - almost always wins whoever fronts $ for asset doesnt have to be seller, can be bank Accumulated Adjustments ...

A duplicate ID card may be issued upon what? - an ID card lost, destroyed or damaged A non-resident who does not maintain an office in NYS who accepts the office of notary public does what? - appoints the Secretary of State to serve upon his behalf A nonresident with no office or place of business in this state does what? - vacates office A notary public cannot act in a case if he is involved in what capacity? - if he is a party to or directly and pecuniarily (or beneficially) interested in...

$750.00 fines are not ——————- ———————- - Willful oversights A notaries seal/stamp can't be surrendered to anyone, except: - 1. A court/ judge can require the surrender of the seal/stamp after a commission is revoked when the notary is convicted of a crime related to Notarial misconduct, including the false completion id a notarial certificate or a felony. A notary notarizes signatures, but they don't certify documents. With the following exceptions: - 1. Copies i...

A _________ is the section on an affidavit where a Notary certifies that the statement was sworn in front of him. A) Codicil B) Appendix C) Preamble D) Jurat - A _________ is the section on an affidavit where a Notary certifies that the statement was sworn in front of him. D) Jurat A law that states that certain contracts must be in writing to be enforceable is called: A) The Jurat B) The Subordination Statute C) The Common Statute D) The Statute of Frauds - D) A law that states tha...

A county clerk can certify a notarial signature by attaching a "certificate of ______" to any certificate, proof, acknowledgment, or oath signed by a notary - official character A non-resident who accepts the office of notary public in NYS thereby appoints the NYS Secretary of State with what power? - Process legal papers against them Applicants for reappointment must submit these 2 things to the county clerk: - application, oath of office (duly executed, signed) Application fee cost for...

___ is anything of value given to induce someone to enter into a contract - consideration ____ is a writing or writings which evidence both an obligation to pay money and a security interest in specific goods - chattel paper ____ means to do a hearing or examination in the presence of, or on papers filed by, one party in the absence of the other - Ex parte _____ is the placing of an instrument in the hands of a person as a depository who on the happening of an event must deliver it to a th...

IFTSA LATEST 2024 EDITION QUESTIONS WITH ANSWERS GRADED A+BUNDLED PACKAGES WITH GODOD DEALS

INTRODUCTION TO BUSINESS LATEST 2024 QUESTIONS WITH ANSWERS GRADED A+ BUNDLED WITH GREAT PACKAGE DEALS