Show the calculation

AC507-3: Assess the Federal net operating loss rules.

Scenario: The Smith Company, a C Corporation, in
2021 has a loss of $200,000. During 2022, 2023, 2024, and 2025, the
company experienced the following:

• 2022 – income of $120,000
• 2023 – income of $50,000
• 2024 – loss of $20,000
• 2025 – income of $200,000

Determine the taxes paid/refunded in each year, 2021, 2022, 2023,
2024, and 2025. Assume the income tax rate for all years is a 21% flat
tax rate on all income levels.

In order to have a diverse organization, a culture of respect must be established. If harassment occurs, this impedes the organization’s ability to truly exhibit respect to all of its employees. This week you will learn about how a newly formed company created a culture of sexual harassment in the process. This week’s case study will focus on Uber and harassment issues within their organization that dramatically impacted their employees and reputation.    

Read

Read the critical thinking case “Uber Pays the Price” in Chapter Five of the Organization Behavior (OpenStax) (Links to an external site.) textbook which is part of this week’s required reading.

Activity

Once you have read through the case study, use the following guidelines to write your paper:

• Introduce the topic and summarize the paper.

The main body of the paper

• Explain the impact harassment had at Uber and other issues that can impact an organization due to harassment.
• Provide a form of federal legislation this harassment case would fall under and the protection it provides for employees being harassed (Use an outside source properly cited and referenced to validate your selection). 
• List three separate methods that could have been put in place to prevent an issue like this from happening at Uber (Use at least one outside source correctly cited and referenced to support your answer).
• Provide an example of another workplace harassment issue in a business organization that has occurred within the last 12 months. 

Use these videos for help on how to post to the Discussion Board:

• AIU Student Mobile app view
• Desktop view

Assignment Details

Think about the ways that you use accounting in your daily life, such as when managing your personal budget, paying your bills, investing your money, and so on.

• How can you use accounting principles to manage your personal finances?

Read through your peers’ posts, and when you respond to them, consider the following: 

• You can provide suggestions that you have found to be beneficial about the ways that your peers can use accounting information.
• If any of your peers have struggled with finances, what are the situations that you have experienced that may help ease a financial burden?

Assignment Purposes/Learning Outcomes:

After completion of Assignment-2 students will able to understand the

LO 1.2: Describe how to evaluate macroeconomic conditions such as unemployment,

inflation, and Growth

LO 1.3: Recognize the fundamental determinant’s of a nation’s long-run economic

growth.

Assignment 2 Questions: Week 6 to Week 10: – [5 Marks]

Assignment 2

Case Study

When taxes induce people to change their behaviour—such as inducing Jane to buy less pizza—the taxes cause deadweight losses and make the allocation of resources less efficient. As we have already seen, much government revenue comes from the individual income tax in many countries. In a case study in Chapter 8, we discussed how this tax discourages people from working as hard as they otherwise might. Another inefficiency caused by this tax is that it discourages people from saving.

Consider a person 25 years’ old who is considering saving $1,000. If he puts this money in a savings account that earns 8 percent and leaves it there, he would have $21,720 when he retires at age 65. Yet if the government taxes one-fourth of his interest income each year, the effective interest rate is only 6 percent. After 40 years of earning 6 percent, the $1,000 grows to only $10,290, less than half of what it would have been without taxation. Thus, because interest income is taxed, saving is much less attractive.

Some economists advocate eliminating the current tax system’s disincentive toward saving by changing the basis of taxation. Rather than taxing the amount of income that people earn, the government could tax the amount that people spend.

Under this proposal, all income that is saved would not be taxed until the saving is later spent. This alternative system, called a consumption tax, would not distort people’s saving decisions.

Various provisions of the current tax code already make the tax system a bit like a consumption tax. Taxpayers can put a limited amount of their saving into special accounts—such as Individual Retirement Accounts and 401(k) plans—that escape taxation until the money is withdrawn at retirement. For people who do most of their saving through these retirement accounts, their tax bill is, in effect, based on their consumption rather than their income.

European countries tend to rely more on consumption taxes than does the United States. Most of them raise a significant amount of government revenue through a value-added tax, or a VAT. A VAT is like the retail sales tax that many U.S. states use, but rather than collecting all of the tax at the retail level when the consumer buys the final good, the government collects the tax in stages as the good is being produced (that is, as value is added by firms along the chain of production). Various U.S. policymakers have proposed that the tax code move further in direction of taxing consumption rather than income. In 2005, economist Alan Greenspan, then Chairman of the Federal Reserve, offered this advice to a presidential commission on tax reform: “As you know, many economists believe that a consumption tax would be best from the perspective of promoting economic growth—particularly if one were designing a tax system from scratch—because a consumption tax is likely to encourage saving and capital formation. However, getting from the current tax system to a consumption tax raises a challenging set of transition issues.”

1: What should be taxed – Personal Income or Personal Consumption and why? Provide your opinion based on the case.(200 words) [1.5 Marks]

2: How may it affect Saudi Economy if an income tax is imposed in KSA?

(200 words) [1.5 Marks]

Q2: Saudi Arabia’s Ministry of Human Resources recently announced an increase to the monthly minimum wage from 3000 SAR to 4000 SAR for full-time Saudi workers in April 2021, and introduced a Labor Reform Initiative (LRI) scheduled to take effect on 14^th March 2021. [2 Marks]

a.Discuss the implications of the above topic.

b.Will this impact unemployment in the country? How?

Answer: