Facts: Mickey and Minnie are brother and sister. Mickey was convicted of murder and was sent to life imprisonment. Mickey however professed that he was innocent. Minnie, his sister believed Mickey. She worked hard on the issue and after spending three years in the law school she went for looking out for facts. Later after two years of gathering facts, she proved that Mickey was innocent. After coming out of prison, Mickey along with Minnie decided to assign the book, movie and photos rights about their amazing story to Disney films. For this assigning they will charge $750,000. They have found the assignee and now are in a position to finalize the agreement. Before finalizing they are looking for the firm’s advice on how to move ahead and prepare a tax plan for them. This way they want the firm to make a tax memo to file that clearly explains how this payment will be treated by Mickey and Minnie. An effort will be made to frame tax planning that could help in reducing the tax burden upon their …show more content…
That is Mickey can ask for tax credit based on the fact that he is ex-felon. Therefore under Rev. Rul. 54-56, 1954-2 C.B. 108, they are entitled for credit on taxes. The House Committee on Ways and Means, H.Rep. No 432, 98th Cong., 2d Sess. (March 5, 1984). Sec. 469 (e)(1)(A) declared that the ex-felon will be entitled to get tax credit. On the other hand, Minnie can take tax credit on the basis of section 25 c, 179, 42 and 181 through which the low to middle earning group can claim for tax credits. Moreover, the tax credits they get can be used by Mickey for rehabilitation process. He can use the money to start a new business and lead a new and better life than past. On the other hand, Minnie can move ahead with her career in law and get various other cases similar to her experience. This way both Mickey and Minnie can get benefitted financially through the tax credit under different
Shelly Zumaya (2220 East Hennepin Avenue, Minneapolis, MN 55413) is the president and sole shareholder of Kiwi Corporation (stock basis of $400,000). Incorporated in 2003, Kiwi Corporation’s sole business has consisted of the purchase and resale of used farming equipment. In December 2011, Kiwi transferred its entire inventory (basis of $1.2 million) to Shelly in a transaction described by the parties as a sale. According to Shelly and collaborated by the minutes of the board of directors, the inventory was sold to her for the sum of $2 million, the fair market value of the inventory. The terms of the sale provided that Shelly would pay Kiwi Corporation the $2 million at some future date. This debt obligation was not evidenced by a promissory note, and to date, Shelly has made no payments (principal or interest) on the obligation. The inventory transfer was not reported on Kiwi’s 2011 tax return, either as a sale or a distribution. After the transfer of the inventory to Shelly, Kiwi Corporation had no remaining assets and ceased to conduct any business. Kiwi did not formally liquidate under state law. Upon an audit of Kiwi Corporation’s 2011 tax return, the IRS asserted that the transfer of inventory constituted a liquidation of Kiwi and, as such, that the corporation recognized a gain on the liquidating distribution in the amount of $800,000 [$2 million (fair market value) - $1.2 million (inventory basis)]. Further, because Kiwi Corporation is devoid of assets, the IRS assessed a tax due from Shelly for her gain recognized in the purported liquidating distributi...
In the play Blood Brothers, Willy Russell hangs his story on the superstition that Mrs Lyons uses to trap Mrs Johnstone in silence: that superstition which the is, that should Mickey and Edward discover their brotherhood, they will both die.
On December 15, 2005, Minnie Smith was found dead in the home she shared with her husband, Marvin Smith. Smith was charged with first-degree murder for the death of his wife. At the end of the trial, the prosecution asked for and received an aiding-and-abetting instruction, which would allow the jury to convict Smith even if they found that he had not delivered the fatal blow. The jury convicted Smith but did not specify which theory of guilt they adopted. The California Court of Appeal affirmed the conviction and rejected Smith’s argument that he had not been given adequate notice of the possibility of the aiding-and-abetting instruction. The California Supreme Court denied Smith’s petition for review.
The commonly used saying, “they lived happily ever after,” originates from early fairy tales. Fairy tales are stories that feature fanciful characters that convey a moral to teach children lessons and values that they will keep for the rest of their lives. The original story of “Cinderella” by the Grimm Brothers and the later Disney version Cinderella (1950) are both descriptions of a legendary fairy tale of a kind and gentle girl who overcomes the rancor of her stepmother and stepsisters and ultimately finds a happy ending. Although both stories have the same plot, the overall messages that they deliver are different.
Terry was a Clevaland man that was arrested and charged with carrying a concealed weapon. Terry was stopped and searched by an officer that suspected that Terry was going to potentially rob a store. The officer was observing Terry, and approached Terry for questioning, however, he decided to search him first. This quick frisking produced a concealed weapon, which, was why he was charged with the concealed weapon offense. The problem in this case whether a search for weapons without a probable cause of arrest is an unreasonable search under the fourth amendment. Terry allegated that it violated the fourth amendment, in the point of protecting against unreasonable search and seizure. "In a multipart holding, the court acknowledge that because
He meets with various investors and promises them a 10% return on their investment in 3 years if they will invest $100,000 in the Tours, Tours and More Tours business. Mickey meets with eight investors, and they each give him a $100,000 investment within one week. Sam is concerned about these investments. Sam has come to you for advice. Sam asks you, "Is Mickey committing any crimes when he meets with these investors and promises them returns on their investments?" How would you respond? Explain your answer.
As financial consultants, we have been asked by Walt Disney’s management to provide an evaluation of this alternative to the company for this financing decision. For this estimate, we have reviewed the data of the Consolidated Income Statements from 1982 to 1983, the Consolidated Balance Sheets of 1984 and 1983, the Historical Summary of Average Yen/Dollar Exchange Rates and Price Indexes, ECU/Yen Swap flows in the following ten years, Yen Long-dated foreign exchange forward, Cash flow of 10-year ECU Euro bonds with sinking fund (Exhibit 6), and also the list of the French Utility’s outstanding publicly Traded Eurobonds.
(1) Michel G. Rukstad, David Collis; The Walt Disney Company: The Entertainment King; Harvard Business School; 9-701-035; Rev. January 5, 2009
When Mr. Kay calculated the financial ratios, he realized that the debt ratio of Huggy Bear Toys was different than the industry average. Therefore, he wants to know what the growth rate of the company would be if the debt ratio of Huggy Bear Toys were equal to the debt ratio of the industry (45%). To be able to calculate that growth rate, you need to find the new income statement and balance sheet items by taking into account the information provided below. If no information is given about an income statement or balance sheet item, assume that this item is not going to change.
Minnie already has a strong hold over her identity; her confidence is shown within the stage directions. Her character is written to contrast the cowardliness or lack of back bone within Dolan. Similarly, Pegeen has strong character within herself to draw out Christy’s inner confidence. Were it not for the need to impress Pegeen: Christy would never have admitted his own crime. ‘[with blank amazement.] — “Is it killed your father?”’ Pegeen expresses interest in Christy’s wrong doings from the very start. Because of her need to make her own choices she realizes Christy is a considerably more ideal candidate than Shawn. Christy and Pegeen connect because of their relationships with their fathers.
Minnie was not telling the truth and how the crime is a murder instead of an accident because her statements are contradicting with the evidence in the crime scene. For example, Minni states that her husband was taking a shower, “I think he must have been taking a shower and slipped on a bar of soap”. This does not line up with the evidence in the crime scene since it shows that her husband was not taking a shower but, was brushing his teeth since her husband is holding a toothbrush. This shows that Minnie is not telling the truth since she stated that her husband was taking a shower when in fact her husband was brushing his teeth when the crime occurred. Another example of how Minnie did not tell the truth is how it she explained that her
The story starts off with John ruth, an intractable bounty hunter portrayed by Kurt Russel. He is on his way to redeem his bounty for an outlaw by the name of daisy domergue (Jennifer Jason Leigh),but is also in need for protection from an incoming blizzard. As they ride in the stagecoach racing for protection, they meet Major Marquis Warren (Samuel L. Jackson) a Civil War ex-Union officer turned bounty hunter. They also meet Chris Mannix (Walton Goggins), the so called sheriff of the town of Red Rock. The group finds shelter in Minnie’s Haberdashery.
The case describes how soon after Iger took over as CEO at Disney, he reached out and reconciled relationships with the Weinstein brothers by making a settlement payment. In this instance I would argue that Iger implemented a problem solving approach. The Weinstein brothers may have received a payment of $100 million but Disney kept the Miramax name and film library worth $2 billion. It would appear that the brothers got what they thought was fair payment and Disney kept a lucrative business asset. Iger also reconciled relationships with Steve Jobs and Pixar by adding Jobs to the Disney Board of Directors.
After watching the film “Mickey Mouse Monopoly,” I believe that Disney films and other programs may subconsciously influence the thoughts and behaviors of kids in society by promoting stereotypes of racial groups and domestic abuse. Unfortunately, there are many racial stereotypes that are represented in Disney films, such as the perception that latinos are dirty due to the creation of the character Alonzo; who misbehaved and looked dirty and disheveled throughout the entire film, which is known as Oliver and Company. In another film, Disney has influenced children’s behaviors by displaying what femininity looks like and by showing that it is okay to badger woman until they agree to go on a date. For example, in Beauty and the Beast, the broom
Disney created a scheme, involving the court system, to keep Mickey Mouse in the hands of the company instead of the public domain. Mickey Mouse was supposed to be in the public domain years ago “under the 1909 Copyright Act, entitling him to 56 years of protection under the law -- no more. In accordance with the law, his copyright was set to expire in 1984” (Crockett). Disney still wanted to make money with Mickey Mouse but, “[the] copyright law protects original works of authorship, fixed in a tangible medium, with at least a limited degree of creativity” (Martinez). Copyright laws were made to protect the individual from theft of their product or creation, while limiting the amount of money they can make on that product alone (Aboy). Disney’s name is so successful, that there is a sense of quality behind it; when a person hears Disney, they already know the kind of work goes into the company’s projects. Disney is surfing on by with their little cartoon character, despite almost losing him, by making Mickey the star of a kid’s cartoon, now with updated