Answer: True
Explanation: A resident alien normally shares similar rules for filing revenue, property and gift tax recoveries and payment of calculated tax whether the person is in the United States or abroad. The resident alien can make use of similar forms and mailing particulars of where he or she lives as the citizens of the United States and also be able to claim similar deductions permitted to citizens of the United States for the whole tax year. However, special regulations apply to the taxation of foreign individuals studying in a university and specialists in a particular branch of study.
Answer:
Health reimbursement account
Explanation:
The health reimbursement account is a type of health benefit plan which is funded by the government of the US.
In this benefit plan, the government reimburses the medical expenses that have been paid by the employer from his earnings.
Also, in some cases, the government pays the premium of the health insurance.
<u>Answer</u>:
In markets characterized by oligopoly, B) the oligopolists earn the highest profit when they cooperate and behave like a monopolist.
<u>Explanation</u>:
Oligopoly markets are those markets in which there are two or more businesses that have no direct competition with each other in the marketplace. Only these few businesses dominate the whole market. Businesses or their owners in these types of markets are known as oligopolists. To get high profits in Oligopoly influenced markets, the oligopolists act like monopolists, which means that they cooperate and become the leaders in their specialties to gain more profits in the market collectively.
Therefore, alternative B is correct.
Answer
Workers should avoid discrimination and unfair treatment at work places.
Explanation
In the United States, the Civil Right Act of 1964 and other cats prohibits discrimination at workplace. Increased cultural and gender diversity has brought to work together so as to reach job goals thus discrimination should be avoided conflicts and misunderstanding at workplaces.This is a good advise because it will increase staff morale and improve productivity due to proper utilization of workers from diverse origins.
Answer:
The day the property was contributed.
Explanation:
A holding period refers to the time period an asset or investment is held by a business or an investor, or the period between when the asset is bought and when it is sold.
The character or type of an asset contributed to a partnership in exchange for a capital and profits interest determines the beginning of the partner’s holding period as follows:
1. If the capital asset or property contributed by the partner has been used in a trade or business just before it is contributed to the partnership, the holding period of the partner for the partnership interest will include the holding period of the capital asset or property contributed.
2. If the capital asset or property contributed by the partner is exchanged for money, capital or other property, the beginning of the holding period of the partner in the day of acquisition of the interest, i.e., the day the property was contributed.
Since the question states that the property is contributed to a partnership in exchange for a capital and profits interest, rule number 2 above therefore applies. That is, the partner’s holding period begin for the partnership interest the day the property was contributed.