text:
COLORADO SPRINGS, Colorado, April 13. USA Swimming today released the recommendations made by the five-person commission appointed to review the circumstances surrounding the death of open water athlete Fran Crippen at a FINA race in the UAE on October 23, 2010. The full list of recommendations is available here.
USA Swimming will hold a media conference call with Commission Chair Dick Pound, USA Swimming President Bruce Stratton and Executive Director Chuck Wielgus at 1 pm ET today to discuss the recommendations.
An approved safety plan including communications systems and the ability to monitor and reach swimmers during the race as well as minimum and maximum water temperature requirements are among the recommendations made.
"This commission was given two specific charges, and those were to report the circumstances that led to the death of this young athlete, and to provide recommendations to ensure that such a tragedy does not happen again," said Open Water Commission Chair Dick Pound. "We are confident that the recommendations we've made reflect an increased concern for safety at these events, and that they do so without paralyzing the sport. What we've produced is a sensible program of action that will significantly reduce the potential for this sort of a tragedy to occur in open water swimming again."
The Commission recommends requiring all open water race organizers to have a safety plan in place which includes sufficient and specific monitoring of swimmers. This would require each race to provide: certified local lifeguards with experience in open water, the ability of safety personnel to observe athletes at all points and an appropriate number of first responders who can reach athletes within 20 seconds. Additionally, the plan calls for one safety craft for every 20 swimmers competing. Also, race organizers would be required to have a safety communications plan which would allow for efficient water-to-water, water-to-land and land-to-water communications.
Other elements of the safety plan include an appropriate number of feeding stations, a course evacuation plan, a check-in and check-out system for swimmers and the holding of a technical meeting prior to the race at which safety information is presented. Also included are safety precautions for pre-race warm-up and post-race warm-down.
The Commission also recommended implementation of a minimum and maximum water temperature in which open water races may be held.
1. If the water temperature is below 16 C (60.8 F), no race can be held.
2. For races of 5K and above, if the water is above 31 C (87.8 F), no race can be held.
3. If the air temperature and water temperature added together (in Celsius) are less than a total of 30, no race can be held.
4. If the air temperature and water temperature added together (in Celsius) are greater than 63, no race can be held.
In addition, the Commission addressed water quality testing, and recommends removing any requirement for athletes to participate in any particular race of an open water series in order to receive final point standings or prize money in the series.
The Commission also recommended the use of tracking devices to track athletes in open water races and a process by which athletes would certify themselves "medically fit and adequately prepared" for the race. The Commission also recommended that USA Swimming hire a full-time person to manage open water administrative tasks.
The Commission will remain standing in anticipation of a report from FINA, the international governing body of swimming.
The above article is a press release submitted to Swimming World Magazine. It has been posted in its entirety without editing. Swimming World offers all outlets the chance to reach our audience by contacting us at firstname.lastname@example.com. However, Swimming World reserves the right to choose what material is posted.


text:
Victoria Beckham's actress rowVictoria Beckham had a blazing row with an actress who has been linked to her husband David - and warned the woman to leave him alone.
Furious Victoria is said to have branded 50-year-old Ana Obregon "a piece of s**t" after growing angry at Spanish media speculation surrounding the blonde actress and soccer ace David.
The former Spice Girl has been subjected to months of false rumours linking David and Obregon, who reportedly regularly frequents bars and restaurants the England captain is known to go to.
Sparks flew when Victoria and Obregon - who was allegedly hoping to snare David - bumped into each other in a Madrid gym.
A source is quoted in Britain's The Sun newspaper as saying: "They were screaming at each other. It wasn't pretty. Luckily it didn't come to blows."
Other gym-goers told Britain's Daily Mirror newspaper Victoria warned Obregon to stay away from David, saying: "Why would he be interested in an old lady like you? Leave my husband alone."
She also told the actress - who was allegedly wearing a pair of hot pants - to "go get some clothes on and act you age".
Victoria's spokeswoman said: "We're not going to comment as it will only give this publicity-seeking woman even more exposure."
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subset: commoncrawl


text:
Before we get started, can I just say that I love Charlie Sheen. I think he's a crazy person, but my god, does he amuse the shit out of me.
So you'll understand my joy today when I opened up the internet to find this video of Charlie super, duper drunk at a Taco Bell drive thru. For some reason, Charlie is out of his car, and he goes over to talk with a couple of fans.
And thank the gossip gods, they recorded the whole thing.
Charlie starts us off with, ""Sorry I'm so fucking hammered." They shake hands, they chat, Charlie shows them his tattoo, it's all very sweet in a "Charlie Sheen could totally vomit on me any second" sort of way.
Still, as hard as Charlie tries, nothing will ever match up to his dad Martin Sheen's super drunk video…which just happens to be the opening of Apocalypse Now. Martin was actually drunk, and when he hit the mirror, he broke it for real. That is his real blood. Watch Charlie's hilarious drunk video above, then Martin's slightly more distrubing one below. Now we need a video of drunk Emilio Estevez. Get on it!


text:
1) Except as otherwise provided, gross income means all income from whatever source derived.
Answer: TRUE
Page Ref.: I:3-2
2) Under the economist's definition, unrealized gains, as well as gifts and inheritances, are income.
Answer: TRUE
Page Ref.: I:3-2
3) The wherewithal-to-pay concept provides that a tax should be collected when the taxpayer is most easily able to pay the tax.
Answer: TRUE
Page Ref.: I:3-4
) Internal Revenue Code Section 61 provides an inclusive list of all possible items taxed under the Code.
Answer: FALSE
Page Ref.: I:3-4
6) Gross income may be realized when a taxpayer receives economic benefit even if no cash is received.
Answer: TRUE
Page Ref.: I:3-4
7) Gregory receives 100 shares of stock from his employer as a year-end bonus. The fair market value of the stock is included in Gregory's income for the year.
Answer: TRUE
Page Ref.: I:3-5; Example I:3-3
8) Ellen, a CPA, prepares a tax return for Frank, a farmer, in exchange for twenty bushels of rice. Since no cash changed hands, neither taxpayer reports income.
Answer: FALSE
Explanation: Gross income can be realized in any form, including money, property and services.
Page Ref.: I:3-5; Example I:3-4
9) AAA Corporation distributes an automobile to Alexandria, a shareholder, in lieu of a cash dividend. Alexandria must report the value of the automobile as dividend income.
Answer: TRUE
Page Ref.: I:3-5; Example I:3-5
10) The portion of a taxpayer's wages that are garnished by court order and forwarded to pay a delinquent bank loan are not taxable income to the taxpayer.
Answer: FALSE
Explanation: The income is constructively received by the taxpayer.
Page Ref.: I:3-5; Example I:3-6
11) A taxpayer may not avoid responsibility for payment of income taxes by assigning the income to a third party.
Answer: TRUE
Page Ref.: I:3-6
12) For federal income tax purposes, income is allocated between a husband and wife depending on the state of residence.
Answer: TRUE
Page Ref.: I:3-6
13) In community property states, income from separate property owned before marriage is always considered separate income after marriage.
Answer: FALSE
Explanation: In Idaho, Louisiana, Texas, and Wisconsin such income is community income.
Page Ref.: I:3-7
14) Earnings of a minor child are taxed to the child regardless of the state's property law system.
Answer: TRUE
Page Ref.: I:3-8
15) If a taxpayer's method of accounting does not clearly reflect income, the IRS may specify a different accounting method which must be used by the taxpayer.
Answer: TRUE
Page Ref.: I:3-8
16) The cash receipts and disbursements method of accounting is used by most individual taxpayers and most noncorporate businesses that do not have inventories.
Answer: TRUE
Page Ref.: I:3-8
17) Under the cash method of accounting, income is reported in the year the taxpayer actually or constructively receives the income.
Answer: TRUE
Page Ref.: I:3-8
18) A cash-basis taxpayer can defer income recognition by refusing to accept payment.
Answer: FALSE
Explanation: The constructive receipt doctrine requires recognition if income is made available without significant restriction.
Page Ref.: I:3-9
19) A check received after banking hours is considered constructively received by the payee even though the check can not be converted to cash.
Answer: TRUE
Page Ref.: I:3-10
20) Interest credited to a bank savings account is taxed regardless of whether or not it is withdrawn.
Answer: TRUE
Page Ref.: I:3-10
21) Interest on Series E and Series EE U.S. savings bonds need not be reported until the bonds mature.
True 3:10
22) Under the accrual method of accounting, income is considered earned when all the events have occurred which fix the right to receive the income and when the amount of income can be determined with reasonable accuracy.
Answer: TRUE
Page Ref.: I:3-11
23) An accrual basis taxpayer may defer advance payments for services if the payments are for services to be performed before the end of the tax year following the year of receipt.
Answer: TRUE
Page Ref.: I:3-12
24) Gains realized from property transactions are included in gross income unless a nonrecognition rule applies.
Answer: TRUE
Page Ref.: I:3-13
25) Interest on the obligations of the U.S. government, states, territories, and U.S. possessions and their political subdivisions are tax-exempt.
Answer: FALSE
Explanation: Interest on U.S. government obligations is taxable.
Page Ref.: I:3-14 and I:3-15
26) For a cash basis taxpayer, security deposits received on rental property are taxable to the landlord upon receipt.
Answer: FALSE
Explanation: There is a binding obligation to repay.
Page Ref.: I:3-15
27) Improvements to leased property made by a lessee are includable in the lessor's gross income only if made in lieu of rent or if rent is reduced because of the improvements.
Answer: TRUE
Page Ref.: I:3-15 and I:3-16
28) In 2011 and 2012, qualified dividends received by individuals are taxed at the same rate as ordinary income.
Answer: FALSE
Explanation: Qualifying dividends are taxed at a preferential rate, usually 15%.
Page Ref.: I:3-16
29) Distributions in excess of a corporation's current and accumulated earnings and profits are treated as a nontaxable recovery of capital unless they exceed the basis of the stock.
Answer: TRUE
Page Ref.: I:3-17
30) The recipient of a taxable stock dividend includes the value of the stock received in gross income and that amount becomes the basis for the stock received.
Answer: TRUE
Page Ref.: I:3-17
31) Alimony received is taxable to the recipient while child support payments are not.
Answer: TRUE
Page Ref.: I:3-18
32) In order to be treated as alimony for tax purposes, payments must be made in cash.
Answer: TRUE
Page Ref.: I:3-19
33) Property settlements made incident to a divorce have no immediate tax consequences; that is, the transfer from one spouse to another is not taxable.
Answer: TRUE
Page Ref.: I:3-19
34) Payments from an annuity are not taxable until the taxpayer has recovered the purchase price of the annuity.
Answer: FALSE
Explanation: The recovery of the purchase price is spread over the payment period of the annuity.
Page Ref.: I:3-20
35) With some exceptions, amounts withdrawn from a pension plan prior to the normal starting date are subject to a ten percent nondeductible penalty.
Answer: TRUE
Page Ref.: I:3-22
36) Becky wins a car and furniture on a television game show. The fair market value of these items is taxable to Becky.
Answer: TRUE
Page Ref.: I:3-23 and I:3-24
37) Mike won $700 in a football pool. This amount is not taxable.
Answer: FALSE
Explanation: Gambling winnings must be included in gross income.
Page Ref.: I:3-24
39) Unemployment compensation is exempt from federal income tax.
Answer: FALSE
Explanation: Unemployment compensation is subject to tax.
Page Ref.: I:3-24
40) Social Security benefits are excluded from taxation for all taxpayers.
Answer: FALSE
Explanation: Middle and upper income taxpayers must include a portion of the Social Security benefits in gross income.
Page Ref.: I:3-24
41) Which one of the following items is not considered gross income for tax purposes?
A) gambling winnings
B) illegal income
C) face amount of life insurance received due to the death of the insured
D) cash dividends
Answer: C
Explanation: C) Life insurance proceeds are an exclusion item.
Page Ref.: I:3-4 and I:3-5
42) Frasier and Marcella, husband and wife, file separate returns. Frasier and Marcella live in a community property state that considers separate property income to be separate. Frasier's salary is $42,000 and Marcella's salary is $46,000. Marcella receives dividend income of $4,000 from stock inherited from her parents. Frasier receives interest income of $1,000 from bonds purchased with his salary after marriage. Frasier and Marcella receive $3,200 dividend income from stock they purchased jointly. Marcella's income would be
Answer: B
Explanation: B) ($21,000 + $23,000 + $4,000 + 500 + $1,600 = $50,100.)
Page Ref.: I:3-7; Example I:3-8
43) Bill and Hillary, husband and wife, file separate returns. Bill and Hillary live in a community property state that considers separate property income to be community income. Bill's salary is $82,000 and Hillary's salary is $80,000. Hillary receives dividend income of $7,000 from stock inherited from her parents. Bill receives interest income of $5,000 from bonds purchased with his salary after marriage. Bill and Hillary receive $10,000 dividend income from stock they purchased jointly. Bill's income would be
Answer: A
Explanation: A) ($41,000 + $40,000 + $3,500 + $2,500 + $5,000 = $92,000.)
Page Ref.: I:3-7; Example I:3-8
44) Norah, who gives music lessons, is a calendar year taxpayer using the cash basis method of accounting. On October 1 of this year, she received $1,200 for a one-year contract beginning on that date to provide 10 lessons. She gave 6 lessons this year. How much should Norah include in income this year?
Answer: D
Explanation: D) As a cash basis taxpayer, she will recognize the income in the year received.
Page Ref.: I:3-8
45) All of the following statements are true except
A) Under the cash method, prepaid income such as rent is usually taxed when received rather than when earned.
B) Municipal bond interest is taxable.
C) Alimony received by the taxpayer is taxable.
D) Income earned by selling goods on the Internet is taxable.
Answer: B
Explanation: B) Interest on obligations of states, territories, U.S. possessions and their political subdivisions is tax-exempt.
Page Ref.: I:3-8, I:3-13, I:3-14 and I:3-18
46) Examples of income which are constructively received include all of the following except
A) interest credited to a savings account.
B) a check received after banking hours.
C) a paycheck received from employer, when employer does not have funds in the bank to cover the check.
D) dividends available on December 31; unclaimed dividends will be mailed out.
Answer: C
Explanation: C) Since the funds are not available to the employee, they are not considered constructively received.
Page Ref.: I:3-10; Example I:3-11
47) Ms. Marple's books and records for 2011 reflect the following information:
Salary earned this year $65,000
Interest on savings account (credited to her account in 2011, withdrawn in 2012) 1,000
Interest on county bonds earned and collected in 2011 2,000
What is the amount Ms. Marple should include in her gross income in 2011?
Answer: A
Explanation: A) $65,000 + $1,000 = $66,000.
Page Ref.: I:3-10
48) One of the requirements that must be met in order to defer recognition of income for advance payments for goods is
A) the taxpayer's method of accounting for the sale for tax purposes is the same as the method used for financial reporting purposes.
B) the goods are on the taxpayer's premises on the last day of the tax year.
C) the goods are produced in the United States.
D) the amount received is more than the taxpayer's cost of the goods
Answer: A
Explanation: A) The tax reporting method must match the financial reporting method.
Page Ref.: I:3-11
49) Which of the following advance payments cannot qualify for income tax deferral?
A) advance collection for services
B) advance collection for merchandise
C) advance collection of rent without associated services
D) advance collection of rent with associated services
Answer: C
Explanation: C) Rent received in advance is immediately taxable assuming no services are associated with the rent.
Page Ref.: I:3-12
50) CT Computer Corporation, an accrual basis taxpayer, sells service contracts on the computers it sells. At the beginning of January of this year, CT Corporation sold contracts with service to begin immediately:
One for three months $200
One for 20 months 800
One for 48 months 4,000
The amount of income CT Corporation must report for this year is
Answer: C
Explanation: C) ($200 + $480 + $1,000 = $1,680) Collections for services that do not extend beyond the next tax year may be accrued. $800 / 20 months = $40 per month. $40 × 12 months this year = $480 of the $800 accrued this year. $4,000/48 months = $83.33 per month x 12 months = $1,000. Note that the balance of the long term contracts will be recognized in the following year as they cannot be deferred more than one tax year.
Page Ref.: I:3-12; Example I:3-15
51) Alex is a calendar year sole proprietor. He began business on December 1, this year. He uses the accrual method of accounting. Alex had the following collections in December.
Collected $7,000 in December, from clients who paid cash for services to be performed next year.
Collected $5,000 in December, for services performed during December; deposited in an operating account on December 31, this year.
Collected $12,000 in December; on accounts receivable for services performed in December; deposited in operating account on January 2, next year.
What is the amount Alex must include in his income for December?
Answer: C
Explanation: C) $5,000 + $12,000 = $17,000.
Page Ref.: I:3-12
52) Amy's employer provides her with several fringe benefits. Which of the following are included in her taxable income?
A) Christmas bonus check
B) group term life insurance premium paid by employer for $40,000 coverage for Amy
C) employee discount
D) employer's contribution to retirement plans on Amy's behalf
Answer: A
Explanation: A) There is no provision in the Code to exclude bonuses from income.
Page Ref.: I:3-13 and I:3-14
53) Which of the following bonds do not generate tax-exempt Federal income?
A) U.S. Treasury bonds
B) bonds issued by fire districts
C) school district bonds
D) bonds issued by port authorities
Answer: A
Explanation: A) There is no provision in the Code to exclude from interest income from U.S. Treasury bonds.
Page Ref.: I:3-14
54) Carla redeemed EE bonds which qualify for the educational exclusion. The redemption consisted of $14,000 principal and $6,000 interest. The net qualifying educational expenses are $10,000. No reduction of the exclusion is required. The taxable interest is
Answer: C
Explanation: C) $6,000 × [$10,000 / ($6,000 + $14,000)] = $3,000 exclusion. $6,000 - $3,000 = $3,000 taxable.
Page Ref.: I:3-14; Example I:3-16
55) In December of this year, Jake and Stockard, a married couple, redeemed qualified Series EE U.S. Savings Bonds which they had purchased in January 2000. The proceeds were used to help pay for their daughter's college tuition. Jake and Stockard received proceeds of $8,000 representing principal of $5,000 and interest of $3,000. The qualified higher educational expenses they paid this year totaled $6,000. What is the amount of interest income Jake and Stockard can exclude from their income this year?
Answer: A
Explanation: A) $3,000 × [$6,000 / ($5,000 + $3,000)] = $2,250 exclusion.
Page Ref.: I:3-14; Example I:3-16
56) Jacob, who is single, paid educational expenses of $16,000 in 2011. He redeemed Series EE bonds and received principal of $8,000 and interest of $3,000. Jacob has other adjusted gross income of $75,100. The $3,000 exclusion must be reduced by
Answer: B
Explanation: B) $3,000 × [($75,100 + $3,000 - $71,100)/$15,000] = $1,400.
Page Ref.: I:3-15; Example I:3-17
57) In December 2011, Max, a cash basis taxpayer, rents an apartment to Kadeem. Max receives both the first and last months' rent totaling $1,800 plus a security deposit of $400. The amount of income reported as taxable in 2011 is
Answer: C
Explanation: C) A security deposit is not taxable until final disposition. That is, it is not taxable unless nonrefundable or until the tenant moves out and all or part of the deposit is not returned to the tenant. Rent is taxable when received.
Page Ref.: I:3-15; Example I:3-18
58) Hoyt rented office space two years ago to Harris, receiving the first and last months' rent plus a security deposit of $1,000. In early January of this year, Harris moves and Hoyt refunds $250 of the deposit and keeps the remainder to cover $500 which is spent for repairs to the office space and one week of unpaid rent that amounts to $250. How would this information be reflected on Hoyt's tax return this year?
A) $750 income and $500 deduction
B) $750 income and no deduction
C) $250 income and $500 deduction
D) $750 income and $500 deduction
Answer: A
Explanation: A) The $750 deposit not returned to the tenant is income. However, the $500 repairs may be deducted.
Page Ref.: I:3-15; Example I:3-18
59) Which of the following is not included in gross income when received?
A) interest received on bank accounts
B) royalties paid to an author
C) amounts received to cancel or modify a lease
D) refundable security deposit
Answer: D
Explanation: D) A security deposit is not taxable until final disposition. That is, it is not taxable unless nonrefundable or until the tenant moves out and all or part of the deposit is not returned to the tenant.
Page Ref.: I:3-15 and I:3-16
60) Ricky has rented a house from Sarah since last year. The rent is usually $900 per month, but Sarah reduced the monthly rent down to $800 for all twelve months this year in exchange for Ricky constructing an addition to the house. The addition has a fair market value of $33,000. How much total rental income must Sarah report this year?
Answer: C
Explanation: C) Rent collected of $9,600 (12 × $800) plus FMV of improvement $33,000 = $42,600.
Page Ref.: I:3-16; Example I:3-19
61) Distributions from corporations to the shareholders in a nonliquidating distribution will usually be classified as a dividend up to the amount of the corporation's
A) earnings and profits.
B) retained earnings.
C) taxable income for the year.
D) stock basis.
Answer: A
Explanation: A) A distribution is considered a dividend to the extent of current and accumulated earnings and profits
Page Ref.: I:3-17
62) In 2011, Richard, a single taxpayer, has adjusted gross income of $40,500. His AGI includes $4,000 of qualified dividends. Richard has no dependents and does not itemize deductions. What is his 2011 federal income tax?
Answer: A
Explanation: A)
Personal exemption -3,700
Standard deduction -5,800
Taxable income $31,000
Taxable income of $31,000 less qualifying dividends of $4,000 = $27,000. The tax on $27,000 is .15(27,000 - 8,500) + 850 = $3,625. There is no tax on the dividends in 2011 since Richard has a 15% marginal tax rate.
Page Ref.: I:3-17; Example I:3-21
63) Edward, a single taxpayer, has AGI of $50,000 which includes $1,000 of qualified dividends. Edward has $6,000 of itemized deductions. What is his 2011 federal income tax?
Answer: B
Explanation: B)
Itemized deductions -6,000
Personal exemption -3,700
Taxable income $40,300
The calculation of the tax is split between the tax on the qualifying dividends and the balance of the taxable income. The tax on the dividend income of $1,000 is $150 ($1,000 × .15). The tax on the $39,300 balance of taxable income is .25(39,300 - 34,500) + $4,750 = $5,950. The total tax liability is $5,950 + 150 = $6,100.
Page Ref.: I:3-17; Example I:3-21
64) Bridget owns 200 shares of common stock of Jones Corporation. During the current year, Jones gives its shareholders the choice of receiving cash of $2 per share or one additional share of Jones common stock for each 5 shares of stock owned. The stock has a fair market value of $10 per share. Bridget chooses to take the additional shares of stock. How much income does Bridget have from the stock dividend?
Answer: C
Explanation: C) Since Bridget has the choice to receive cash, she must include the fair market value of the stock dividend in her income.
Page Ref.: I:3-17
65) Julia owns 1,000 shares of Orange Corporation. This year, Orange declared a 10% stock dividend. There was no option for shareholders to receive cash When Julia received 100 shares of Orange stock, it had a fair market value of $50 a share. How much income does Julia have from the dividend?
Answer: A
Explanation: A) Stock dividends are not taxable if there is no option to receive cash.
Page Ref.: I:3-17
66) Mark purchased 2,000 shares of Darcy Corporation for $13,200. This year, Darcy declared a 10% nontaxable stock dividend, and Mark received 200 shares. After the dividend Mark's per share basis will be
Answer: A
Explanation: A) $13,200 original basis divided by 2,200 new total number of shares = $6 per share.
Page Ref.: I:3-18; Example I:3-23
67) Which of the following is least likely to result in a constructive dividend?
A) an unreasonable salary paid to a shareholder
B) a sale of a corporation's asset to a shareholder at fair market value
C) a payment by a corporation of a shareholder's debts
D) a payment by a corporation of a shareholder's personal expenses
Answer: B
Explanation: B) The sale of an asset at fair market value will not result in a constructive dividend.
Page Ref.: I:3-18
68) Alimony is
A) deductible by both the payor and the payee.
B) deductible by the payor and included in income by the payee.
C) included in income by the payor and deducted by the payee.
D) an item which does not affect the payor's and the payee's tax reporting.
Answer: B
Explanation: B) The Code includes alimony in the definition of gross income of the payee and specifically allows a "for AGI deduction" for alimony paid by the payor.
Page Ref.: I:3-18
69) Child support is
A) deductible by both the payor and the payee.
B) deductible by the payor, and included in income by the payee.
C) included in income by the payor and deducted by the payee.
D) an item which does not affect the payor's and the payee's tax reporting.
Answer: D
Explanation: D) The Code specifically excludes child support from taxable income and does not specifically allow a deduction for child support paid.
Page Ref.: I:3-18
70) With respect to alimony and property settlements in a divorce or separation, all of the following are true with the exception of
A) a property settlement does not result in income to either spouse.
B) no tax deduction is allowed for payment of a property settlement.
C) the spouse receiving a property settlement has a basis equal to the basis of that property to the paying spouse prior to payment.
D) no deduction is allowed for alimony paid to the former spouse, if a property settlement is also paid.
Answer: D
Explanation: D) Alimony is taxable to the payee and deductible by the payor; a property settlement has no tax consequences.
Page Ref.: I:3-19
71) The requirements for a payment to be considered as alimony include all of the following except
A) be made in cash or property.
B) be made pursuant to a divorce, separation or a written agreement between the spouses.
C) terminate at the death of the payee.
D) not be designated as being other than alimony.
Answer: A
Explanation: A) Property may not be part of an alimony payment.
Page Ref.: I:3-19
72) Thomas and Sally were divorced last year. As a result, Thomas must pay Sally alimony of $100,000 per year starting this year and relinquish the house and car with a combined value of $170,000 and a combined cost basis of $155,000. The house and car are given as a property settlement. As a result of these transactions Thomas has a deduction of
Answer: A
Explanation: A) Only the $100,000 alimony is a "for AGI" deduction for Thomas.
Page Ref.: I:3-19
73) Carolyn, who earns $400,000, is required to pay John, her ex-husband, $200,000 as part of the property settlement as a result of their divorce. In turn, John transfers stock worth $50,000 to Carolyn. What is the amount of Carolyn's adjusted gross income for the year?
Answer: C
Explanation: C) Neither the transfer of cash to John nor the transfer of stock to Carolyn are taxable events. Thus, only the $400,000 salary is included in Carolyn's adjusted gross income.
Page Ref.: I:3-19; Example I:3-25
74) Under the terms of their divorce agreement executed in August of this year, Clint transferred Beta, Inc. stock to his former wife, Rosa, as a property settlement. At the time of the transfer, the stock had a basis to Clint of $55,000 and a fair market value of $68,000. Rosa subsequently sold the stock for $75,000. What is the tax consequence of first the stock transfer and then the stock sale to Rosa?
Rosa's Income
From Stock Transfer Rosa's Income
From Stock Sale
$0 $20,000 capital gain
Rosa's Income
From Stock Transfer Rosa's Income
From Stock Sale
$0 $7,000 capital gain
Rosa's Income
From Stock Transfer Rosa's Income
From Stock Sale
$13,000 $7,000 capital gain
Rosa's Income
From Stock Transfer Rosa's Income
From Stock Sale
$13,000 $20,000 capital gain
Answer: A
Explanation: A) The stock transfer has no tax consequences because it is a property settlement. Rosa's basis in the stock is $55,000, the carryover basis from Clint. Thus, her gain on the sale is $20,000 ($75,000 - $55,000).
Page Ref.: I:3-19; Example I:3-26
75) Under the terms of their divorce agreement, Humphrey transferred Corporation H stock to his former wife, Greta as a property settlement. At the time of the transfer, the stock had a basis to Humphrey of $40,000 and a fair market value of $55,000. What is the tax consequence of this transaction to Humphrey, and what is Greta's basis in the Corporation H stock?
A) Humphrey has no gain or loss; Greta's basis is $55,000.
B) Humphrey has no gain or loss; Greta's basis is $40,000.
C) Humphrey has a gain of $15,000; Greta's basis is $55,000.
D) Humphrey has a gain of $15,000; Greta's basis is $40,000.
Answer: B
Explanation: B) There are no tax consequences from the property settlement. Greta has a carryover basisthat is, she takes Humphrey's basis of $40,000
Page Ref.: I:3-19; Example I:3-26
76) As a result of a divorce, Matthew pays Jasmine alimony of $75,000 in year one and $25,000 per year in subsequent years. How much is deductible by Matthew in year one?
Answer: D
Explanation: D) Although $35,000 will be recaptured in year three, the entire payment is deductible in year one.
Page Ref.: I:3-20
77) As a result of a divorce, Michael pays Judy $75,000 in year one and $25,000 per year in subsequent years. How much of the $75,000 in year one is properly characterized as alimony and will not be recaptured later?
Answer: C
Explanation: C)
First year alimony $75,000
Minus: $15,000 change limit (15,000)
Minus: Average 2nd and 3rd year alimony (25,000)
Minus: Amount to be recaptured (35,000)
Amount not subject to recapture $40,000
Page Ref.: I:3-20; Example I:3-27
78) Thomas purchased an annuity for $20,000 that will pay him $500 per month for ten years. What amount should Thomas include in his income each year?
Answer: C
Explanation: C) ($500 × 12 × 10) = $60,000 Expected return.
($20,000 / $60,000) × $6,000 = $2,000 Exclusion.
$6,000 - $2,000 = $4,000 amount included in income.
Page Ref.: I:3-20 and I:3-21
79) Natasha, age 58, purchases an annuity for $40,000. Natasha will receive $400 per month for the rest of her life. The expected return multiple is 20.0. At age 65, the amount that Natasha may exclude from income is
Answer: B
Explanation: B) ($40,000/$96,000 total expected payments) × $4,800 annual payments = $2,000 annual exclusion.
Page Ref.: I:3-21; Example I:3-29
80) Julia, age 57, purchases an annuity for $33,600. Julia will receive $400 per month for the rest of her life. The expected return multiple is 20.0. At age 88, the amount that Julia may exclude from income is
Answer: A
Explanation: A) Once life expectancy is reached, the annual exclusion is no longer available because the original investment has been recovered.
Page Ref.: I:3-22
81) David, age 62, retires and receives $1,000 per month annuity from his employer's qualified pension plan. David contributed $65,000 to the plan prior to his retirement. Under the simplified method, David's number of anticipated payments is 260. What is the amount includible in income in the first year of withdrawals assuming 12 monthly payments?
Answer: C
Explanation: C) $65,000/($1,000 × 260) × $12,000 = $3,000 excludable; $12,000 - $3,000 = $9,000 includible.
Page Ref.: I:3-22; Example I:3-30
82) Jonathon, age 50 and in good health, withdrew $6,000 from his pension plan during the current year. The withdrawal was not eligible for any exception to the 10% penalty. Jonathon had made $40,000 of after-tax contributions to the plan while his employer had contributed $80,000. How much must Jonathon include in income?
Answer: C
Explanation: C) $80,000 employer contribution/$120,000 total contributions × 6,000 withdrawal = $4,000 included in income.
Page Ref.: I:3-22; Example I:3-31
83) Jonathon, age 50 and in good health, withdrew $6,000 from his pension plan during the current year. The withdrawal was not eligible for any exception to the 10% penalty. Jonathon had made $40,000 of after-tax contributions to the plan while his employer had contributed $80,000. What amount of penalty tax must Jonathon pay?
Answer: C
Explanation: C) $80,000 employer contribution/$120,000 total contributions × 6,000 withdrawal = $4,000
included in income × 10% penalty rate = $400.
Page Ref.: I:3-22; Example I:3-31
84) Jan purchased an antique desk at auction. For two years, the desk sat in Jan's garage until she decided to restore it. This year, while cleaning and restoring the desk, Jan discovered $1,500 in a hidden compartment inside one drawer. With respect to the $1,500, Jan must
A) report nothing.
B) amend her previous tax return and report the $1,500.
C) report only $750 due to the statute of limitations.
D) report $1,500 on this year's tax return.
Answer: D
Explanation: D) All income is taxable unless specifically excluded by the Code.
Page Ref.: I:3-24; Example I:3-32
85) While using a metal detector at the beach during spring break, Toni uncovered some rare coins with a current fair market value of $9,000. What are her tax consequences regarding this find?
A) Because it was a "find" she only reports half of the FMV as income.
B) She reports the entire FMV as income.
C) Since she "found" the coins, she does not have to report any amount of income until she sells the coins.
D) Under the discovery rules in the tax law, she will never report any amount as taxable since the value is under $10,000.
Answer: B
Explanation: B) All income is taxed except that which is specifically excluded. There is no exclusion for this type of "found" income.
Page Ref.: I:3-24
86) A taxpayer had the following income and losses in the current year:
Salary $55,000
Sold AT&T stock at a loss ( 5,000)
Lottery prize 4,500
Gambling winnings 8,000
Gambling losses ( 5,000)
What is the taxpayer's adjusted gross income (not taxable income)?
Answer: D
Explanation: D) Gambling losses are deductible as itemized deductions to the extent of gambling winnings and therefore do not affect AGI. The capital loss deduction is limited to $3,000. $55,000 - $3,000 + $4,500 + $8,000 = $ 64,500.
Page Ref.: I:3-24
87) In 2011 Lily had the following income and losses:
Salary $75,000
Prize from quiz show 25,000
Unemployment compensation 8,000
Embezzled funds 30,000
Partnership Income 35,000
What is Lily's adjusted gross income (not taxable income)?
Answer: D
Explanation: D) $75,000 + $25,000 + $8,000 + $30,000 + $35,000 = $173,000.
Page Ref.: I:3-24
88) Lori had the following income and losses in 2011:
Wages $22,000
Share of partnership income 18,000
Unemployment compensation 12,000
Gambling winnings 2,000
Gambling losses ( 5,000)
Prize won on a game show 30,000
What is Lori's adjusted gross income (not taxable income)?
Answer: D
Explanation: D) Gambling losses, to the extent of gambling winnings, are deductible as itemized deductions and do not affect AGI. $22,000 + $18,000 + $12,000 + $2,000 + $30,000 = $84,000.
Page Ref.: I:3-24
89) The term "Social Security benefits" does not include
A) supplementary medicare benefits.
B) tier-one railroad retirement benefits.
C) disability benefits received under Social Security.
D) retirement benefits received under Social Security.
Answer: A
Explanation: A) Medicare benefits are not included in the term.
Page Ref.: I:3-25 and I:3-26
90) In addition to Social Security benefits of $8,000, Mr. and Mrs. Wells have adjusted gross income of $32,000 and tax-exempt interest of $1,000 and will file a joint return. The taxable portion of their social security benefits will be
Answer: B
Explanation: B) Provisional income is $37,000 ($32,000 + $1,000 + $4,000 [one-half of social security]). $37,000 - $32,000 baseline = $5,000.00 × 0.50 = $2,500 is taxable (subject to the ceiling limit of one half of social security benefits, which is $4,000). Eighty-five percent of a portion of the social security benefits are subject to tax only if provisional income exceeds $44,000 on a joint return, or $34,000 for a single taxpayer.
Page Ref.: I:3-25; Example I:3-33
91) Mr. & Mrs. Bronson are both over 65 years of age and are filing a joint return. Their income this year consisted of the following:
Taxable interest $ 6,000
Taxable dividends 9,000
Social Security payments (combined) 20,000
Tax-exempt interest 5,000
Taxable pension 11,000
They did not have any adjustments to income. What amount of Mr. & Mrs. Bronson's social security benefits is taxable this year?
Answer: B
Explanation: B) Provisional income is $41,000 ($6,000 + $9,000 + $10,000 + $5,000 + $11,000). $41,000 - $32,000 baseline amount = $9,000 × 0.50 = $4,500 taxable benefits (subject to the ceiling limit of one half of social security benefits, which is $10,000). Eighty-five percent of a portion of the social security benefits are subject to tax only if provisional income exceeds $44,000 on a joint return, or $34,000 for a single taxpayer.
Page Ref.: I:3-25; Example I:3-33
92) Reva is a single taxpayer with a taxable pension of $22,000, tax-exempt interest of $10,000, and Social Security benefits of $10,000. What is the amount of her taxable Social Security benefits?
Answer: C
Explanation: C) Her provisional income is $22,000 + 10,000 + $5,000(.50 × $10,000) =$37,000. The taxable Social Security benefits are equal to $7,100 which is the lesser of $8,500 (.85 x$10,000) or $7,100 computed as follows: [($37,000 - $34,000 threshold) x.85] + the lesser of $4,500 or $5,000.
Page Ref.: I:3-25; Example I:3-33
93) Insurance proceeds received because of the destruction of property are
A) included in gross income in all cases.
B) excluded from gross income completely.
C) included in gross income to the extent the proceeds are less than the adjusted basis of the replacement property.
D) included in gross income only to the extent the proceeds exceed the adjusted basis of the replacement property.
Answer: D
Explanation: D) The proceeds are not taxable to the extent of return of capital (i.e. adjusted basis).
Page Ref.: I:3-26
94) Homer Corporation's office building was destroyed by fire. Homer collected insurance of $250,000, which equaled the building's basis, and $150,000 for profits lost during the time the company was rebuilding the office building. What is the amount taxable this year?
Answer: B
Explanation: B) Only the $150,000 to cover lost profits is taxable.
Page Ref.: I:3-26; Example I:3-34
95) During 2011, Christiana's employer withheld $1,500 from her wages for state income taxes. She claimed the $1,500 as an itemized deduction on her 2011 federal income tax return which included $7,000 of itemized deductions. Christiana is single. On her 2011 state income tax return, her state income tax was $900. As a result, Christiana received a $600 refund in 2012. What amount must Christiana include in income in 2012?
Answer: B
Explanation: B) She received the full tax benefit of her itemized deduction so the entire amount of the refund is taxable.
Page Ref.: I:3-26; Example I:3-35
96) During 2011, Mark's employer withheld $2,000 from his wages for state income tax. Mark claimed the $2,000 as an itemized deduction on his 2011 federal income tax return. His total itemized deductions for 2011 were $6,000. Mark's taxable income for 2011 was a negative $20,000. Mark received the $2,000 as a refund from the state during 2012. What amount must Mark include in income in 2012?
Answer: A
Explanation: A) Since Mark would have owed no income tax even without the state tax deduction, the refund is not taxable. He received no tax benefit.
Page Ref.: I:3-27; Example I:3-36
97) During 2011, Christiana's employer withheld $1,500 from her wages for state income taxes. She claimed the $1,500 as an itemized deduction on her 2011 federal income tax return which included a total of $6,150 of itemized deductions. Christiana is single. On her 2011 state income tax return, her state income tax was $900. As a result, Christiana received a $600 refund in 2012. What amount must Christiana include in income in 2012?
Answer: B
Explanation: B) According to the tax benefit rule, she received a $350 tax benefit. $6,150 itemized deductions less $5,800 standard deduction.
Page Ref.: I:3-27; Example I:3-37
98) During 2011, Robert and Cassie had $2,600 withheld from their pay for state income taxes. They file a joint return for 2011 and claimed the $2,600 taxes withheld as an itemized deduction on their federal tax return. Their itemized deductions totaled $12,200 on their 2011 tax return. Their 2011 state income tax was only $1,000 and they received a refund of $1,600 when they filed their state income tax return in 2012. As a result, Robert and Cassie must
A) amend 2011's federal tax return.
B) report income of $600 in 2012.
C) report income of $1,600 in 2012.
D) reduce their deduction for state income taxes for 2012 by $1,600.
Answer: B
Explanation: B) The total itemized deductions exceeded the standard deduction by only $600 which is the tax benefit that must be included in income. ($12,200 - $11,600).
Page Ref.: I:3-27; Example I:3-37
99) Gwen's marginal tax bracket is 25%. Gwen pays alimony of $24,000 per year. Gwen's after tax cost for the $24,000 payment is
Answer: C
Explanation: C) (100% - 25%) × $24,000 = $18,000.
Page Ref.: I:3-28
100) Daniel plans to invest $20,000 in either a corporate bond paying 5% or a tax-exempt bond with a 4% interest rate. The bonds have an equivalent level of risk. Daniel has a 33% marginal tax rate and wants to maximize his after-tax earnings. Daniel should
A) invest in the corporate bond due to its higher stated interest rate.
B) invest in the tax-exempt bond since its yield is more than the after-tax return on the corporate bond.
C) invest in the corporate bond because its after-tax earnings are more than the return on the tax-exempt bond.
D) allocate his money equally between the two investments.
Answer: B
Explanation: B) .05 ( 1 - .33) = 3.34% after-tax return on the corporate bond.
Page Ref.: I:3-29
101) Which of the following constitutes constructive receipt in 2011?
a. A check received on December 29, 2011. The check was postdated January 5, 2012.
b. A check received on January 4, 2012. It had been mailed on December 29, 2011.
c. A rent check, received on December 31, 2011, by the manager of an apartment complex. The manager normally collects rent for the owner who is out of town.
d. A salary check received at 5:30 p.m. on December 31, 2011, after all banks are closed.
e. A paycheck received on December 26, 2011. The check was not honored by the bank because the employer's account did not have sufficient funds
Answer: C and D are constructively received. A and E are not because funds are not available. B is probably not considered constructively received assuming the taxpayer could not have "picked up" the check from the payor on December 29, 2011.
Page Ref.: I:3-10
102) Chuck Corporation began operating a new retail business in the current year and had $500,000 of sales, $70,000 of which had not been collected by year-end. Total purchases were $350,000 on which $30,000 is still owed. Ending inventory is $60,000; operating expenses are $170,000, $50,000 of which is still owed at year-end.
a. Compute net income from the business under the accrual method.
b. Compute net income from the business under the cash method.
c. Would paying the $50,000 she owes for operating expenses before year-end change her net income under the accrual method? Under the cash method?
Accrual Cash
Sales $ 500,000 $430,000
Purchases $350,000 $320,000
Inventory 60,000 30,000*
Cost of sales 290,000 290,000
Gross profit 210,000 140,000
Expenses 170,000 120,000
Net income $ 40,000 a. $ 20,000 b.
* $60,000 - $30,000 = $30,000.
c. Paying the $50,000 will not change the net amount of business income under the accrual method. Under cash method, payment of the $50,000 expense would result in a $30,000 net loss.
Page Ref.: I:3-11; Example I:3-14
103) The Cable TV Company, an accrual basis taxpayer, allows its customers to pay by the month, by the year, or two years in advance. In December 2011, the company collected the following amounts applicable to future services:
Jan 2012 services (monthly contracts) $10,000
Dec 2011 - Nov 2012 services (annual contracts) 48,000
Dec 2011 - Nov 2013 contracts (2-year contracts) 72,000
If Cable TV wants to report as little income as possible for 2011, what is the amount of gross income that must be reported for 2011?
Answer: $7,000 must be reported in 2011. All of the services for the one-month contracts will be performed in the next year so all of the income is deferred to 2012. One-twelfth of the services for the one-year contracts will be completed in 2011 so $4,000 will be recognized in 2011 and the $44,000 balance in 2012. With respect to the two-year contracts, 1/24th of the services will be completed in 2011 so $3,000 will be recognized in 2011, and the $69,000 balance will have to be recognized in 2012. Income cannot be deferred beyond the end of the tax year following the year of receipt so none of the income from the two-year contracts can be deferred to 2013.
Page Ref.: I:3-12; Example I:3-15
104) Gabe Corporation, an accrual-basis taxpayer that uses the calendar year as its tax year, sells CPE (continuing professional education) courses under contracts ranging from three months to two years. Assume that Gabe Corporation sold three contracts in July 2011; one for six months costing $300; one for one year costing $500; and one for two years costing $800.
Required: What is the minimum amount of income that must be recognized in 2011 and 2012?
Length of contract 2011 2012
6 months $300
12 months $250 $250
24 months $200 600
Total $750 $850
Page Ref.: I:3-12; Example I:3-15
105) Leigh inherited $65,000 of City of New York bonds in January 2011. In March 2011, she received $4,000 of interest on the bonds. In July 2011, she sold the bonds at a $10,000 gain. Leigh also redeemed Series E U.S. Savings bonds in October 2011 that she had purchased several years ago and received accumulated interest of $2,600. In December 2011, she received $800 of interest on City of Paris, France, bonds. What amount, if any of gross income must Leigh report?
Answer: Leigh must report $13,400 of gross income determined as follows:
Gain on City of New York bonds $10,000
Interest on City of New York bonds (exclude) 0
Interest on Series E Bonds 2,600
Interest on City of Paris bonds 800
Gross income $13,400
Page Ref.: I:3-13 and I:3-14
106) Rocky owns The Palms Apartments. During the year, Molly Ann, a tenant, moved to another state. Molly Ann paid Rocky $1,500 to cancel the two-year lease she had signed. Rocky then rented the apartment to Elvis who paid the first and last months' rents of $500 each and a security deposit of $800. Rocky also owns a building used as a dance club. The owner of the club requested that Rocky add on another room to be used for private parties. Rocky refused but allowed the club owner to make the addition at a cost of $20,000. What amount should be included in Rocky's income with regard to these items?
Answer: $1,500 + $500 + $500 = $2,500. Since there is no reduction in rent, the fair market value of the addition is not included in Rocky's income.
Page Ref.: I:3-15 and I:3-16
107) Ellen is a single taxpayer with a salary of $50,000, qualified dividend income of $5,000, and itemized deductions of $13,000.
a. What is the amount of Ellen's taxable income for 2011?
b. What is the amount of Ellen's tax liability?
Itemized deductions (13,000)
Personal exemption (3,700)
Taxable income $38,300
b. Tax on other income of $33,300 excluding dividends:
$850 + [.15 ($33,300 - $8,500)] = $4,570
There is no tax on the dividends since Ellen has a 15% marginal tax rate.
Page Ref.: I:3-17; Example I:3-21
108) Emma is the sole shareholder in Atlantic Corporation and has owned the stock for five years. The basis in her stock is $50,000. Atlantic distributes $35,000 to Emma. Accumulated earnings and profits at the beginning of the year equal $25,000 and current earnings and profits equal $5,000.
a. What are the tax consequences of this information?
b. What are the tax consequences of this information if, instead of distributing $35,000 to Emma, Atlantic distributes $100,000 to Emma?
a. Emma reports $30,000 of taxable dividend income and a nontaxable return of capital equal to $5,000. In addition, Emma must reduce her basis in the stock by $5,000.
b. Emma reports $30,000 of taxable dividend income, a nontaxable return of capital of $50,000, and capital gain of $20,000.
Page Ref.: I:3-17; Example I:3-22
109) Under the terms of a divorce agreement dated January 1, 2011, Edmond was to pay his wife Donna $3,000 per month in alimony and $500 per month in child support. Payments began on 1/1/11. In addition, Donna received the family residence with a cost basis of $110,000 and a fair market value of $120,000.
a. What is the amount that Donna must include in income for the twelve-month period ended December 31, 2011?
b. What is the basis in the home which Donna received as a result of the divorce?
a. Alimony, which is taxable to Donna and must be included in income, is $3,000 per month × 12 = $36,000.
b. The basis in the home received in the property settlement (which is not taxable) is $110,000, the transfer basis.
Page Ref.: I:3-18 and I:3-19
110) Marisa and Kurt divorced in 2009. Under the terms of the divorce agreement, Marisa was to pay Kurt $110,000 in 2009 and $60,000 each year following until Kurt's death or remarriage. What must Kurt report on his tax return for 2011 regarding these transactions?
Answer: First, Kurt must report $60,000 in gross incomethe amount of alimony received in 2011. Then, Kurt will get a For AGI deduction for alimony recaptured of $35,000.
First year alimony $110,000
Minus: $15,000 change limit ( 15,000)
Minus: Average 2nd and 3rd year alimony (60,000)
Amount to be recaptured $ 35,000
There is no recapture between years two and three.
Page Ref.: I:3-20
111) On January 1, 1996, Erika Greene purchased a single premium annuity for $15,000 that will pay her $5,000 every year for life beginning on January 1, 2011. Based on actuarial tables published by the IRS, her life expectancy multiple is 10.
a. What is the amount to be excluded Erika's income for 2011?
b. What is the amount to be excluded in Erika's income for the year 2021?
a. $15,000/ ($5,000 × 10) × $5,000 = $1,500 excluded from income.
b. Once Erika has recovered her original investment of $15,000 (after 10 years), all of the $5,000 is taxable and included in income; none of it is excluded.
Page Ref.: I:3-20 through I:3-22
112) On April 1, 2011, Martha, age 67, begins receiving payments of $3,000 monthly from her employer's qualified retirement plan. She had contributed $90,000 to the plan in after-tax dollars. The anticipated number of payments is 210.
a. How much of the payments are taxable in 2011?
b. In 2029, Martha, age 85, continues to receive retirement payments. How much of the payments are taxable in 2029?
c. Assume that Martha dies on December 20, 2013. She had received all twelve of her 2011 payments. What are the tax consequences on her 2013 tax return?
a. $90,000 / 210 = 429 monthly exclusion. The monthly taxable amount is $3,000 - 429 = $2,571. In 2011, $2,571 × 9 = $23,139 is taxable to Martha.
b. By 2029, Martha will have recovered all of her contributions to the retirement plan. The entire amount of her payments will be taxable ($3,000 × 12 = $36,000).
c. Martha has received 33 payments prior to her death and will have recovered $429 × 33 = $14,157. She has not recovered $75,843 of her contributions ($90,000 - 14,157) and this amount is deductible on her final tax return.
Page Ref.: I:3-22; Example I:3-30
113) Jeannie, a single taxpayer, retired during the year, to take over the management of some rental property. She had the following items of income and expense:
Salary prior to retirement date $34,000
Dividends from domestic corporation 4,000
Interest from City of Los Angeles bonds 5,000
Pension (60% exclusion ratio) 12,000
Share of partnership income 14,000
Partnership distribution 10,000
Rent income 7,000
Rent expenses 9,000
What is Jeannie's adjusted gross income for the year?
Answer: $34,000 + $4,000 + $4,800 ($12,000 × .40) + $14,000 + $7,000 - $9,000 = $54,800.
Page Ref.: I:3-13 through I:3-16 and I:3-21 through I:3-23
114) Kevin is a single person who earns $70,000 in salary for 2011 and has other income from a variety of investments, as follows:
Bank savings account interest $5,500
Interest from State of Missouri Bonds 3,500
Dividends from XYZ Corp. 7,000
Kevin received refunds when he filed his 2010 tax returns in April of 2011. His federal refund was $600 and his state refund was $300. Kevin's 2010 federal itemized deductions totaled $13,000. In 2011 his itemized deductions total only $3,700, and the amount of withholding for Federal income taxes is $16,900.
Compute Kevin's taxable income for 2011.
Salary $70,000
Bank interest 5,500
Dividends 7,000
State refund 300
Standard deduction ( 5,800)
Personal exemption ( 3,700)
Taxable income $73,300
Page Ref.: I:3-13 through I:3-16 and I:3-27
115) Adanya's marginal tax rate is 35% and she is trying to decide whether to invest in tax-exempt bonds which pay 5% interest or taxable bonds paying 7% interest. The bonds have equivalent risk. Which of the bonds would yield the highest amount of income after taxes?
Answer: The taxable bonds yield 4.55% after-tax [.07 - (1-.35)], so she should invest in the tax-exempt bonds.
Page Ref.: I:3-28
116) While certain income of a minor may now be taxed at the parent's tax rate, discuss how income shifting may still be accomplished and any constraints that may exist on income shifting.
1. Children may own stock in the family business. Dividends may be distributed to the children, but these may be taxed at the parents' rates.
2. A child may work in the family business. Income earned by the child would be taxed at the child's tax rate. Income earned by the child would be subject to reasonable compensation limits.
3. Series EE U.S. savings bonds may be purchased in the child's name to mature after the child reaches age 24. A gift of the bonds to the child may be subject to gift tax.
Page Ref.: I:3-28
117) Marcia and Dave are separated and negotiating a divorce agreement. They live in a common law state and have two children who will remain with Marcia. Dave is willing to transfer the jointly owned home to Marcia. He wishes to keep the couple's jointly owned boat. Dave will either transfer securities to Marcia ($100,000 adjusted basis, $150,000 fair market value) or will pay her $30,000 for 5 years with interest of 8%. What issues should Marcia and Dave consider when formulating their divorce agreement?
Answer: Marcia and Dave should consider the tax treatment of the transfer of the home to Marcia and the boat to Dave. That is, what are the tax consequences of a property settlement? (No immediate tax consequences; a carryover basis). In considering whether to take the securities or the payments, Marcia needs to consider whether or not the $20,000 per year will be classified as alimony, which is taxable. (It would be deductible for AGI to Dave). Each should consider what determines whether or not a payment is alimonymust be made in cash, must not be specified to "not be alimony," must end with Marcia's death or remarriage, Marcia and Dave can not live together. While the transfer of securities would not trigger immediate tax consequences, if Marcia sold the securities, she would have capital gain which she could offset against any capital losses she might have for the year.
Page Ref.: I:3-18 through I:3-20 and I:3-28
118) James and Colleen have reached an agreement with Kelsey in which she will give birth to a baby, and then give the baby to James and Colleen. In return, James and Colleen will pay Kelsey $40,000 cash and pay for her medical expenses. What tax issues should Kelsey consider?
Answer: Is the receipt of cash and payment of medical expenses income to Kelsey?
Page Ref.: I:3-4
119) Aaron found a prototype of a new cell phone with Internet service and other computing capabilities while in a bar one evening. He offered the prototype to the owner of a magazine and blog that reviews hand-held digital devices. The owner paid Aaron $10,000 in return for the prototype. What tax issues should Aaron consider?
Answer: The $10,000 must be included in Aaron's gross income.
Page Ref.: I:3-4
120) Billy, age 10, found an old baseball glove while exploring his new home. His father, Al, took the glove to a dealer in baseball memorabilia who verified that the glove belonged to Babe Ruth. Al sold the glove for $75,000. What tax issues should Al consider?
Answer: Al has $75,000 of income upon the sale of the glove. However, is there an argument that Billy is the owner of the glove since he found it, and he should be taxed on the proceeds? Does Billy giving the glove to Al constitute an assignment of income?
Page Ref.: I:3-6 and I:3-24
121) Buzz is a successful college basketball coach. In April 2010, he signed a contract to coach at Mountain State University. In April 2011, Buzz accepted a position as head basketball coach at Beach University. The terms of his contract with Mountain State require that Buzz repay the university $150,000 he received in 2010. What tax issues does Buzz face?
Answer: According to the claim of right doctrine, Buzz includes the $150,000 as income in 2010 and then he could deduct that amount when it is repaid in 2011. Since the repayment exceeds $3,000, he has the option of instead calculating a credit to recover an amount equivalent to the incremental tax paid on the $150,000 in 2010. The latter would be an attractive option if his tax rate declined from 2010 to 2011.
Page Ref.: I:3-27
122) Raoul sells household items on an Internet website. He receives $3,340 cash and a lawn mower from this activity during the year. What tax issues should Raoul consider?
Answer: Raoul will have to report income from his Internet sale activities. The income should include $3,340 cash and the FMV of the lawn mower.
Page Ref.: I:3-4


text:
Debt Holdings
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Company is a zero debt holding company of RPG group with value of investments in excess of Rs.250 crores whereas Market Cap just Rs.29 crores. Multibagger for sure.
11.16 AM May 14th 2014
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Market cap less than 60 cr having 50 cr cash zero debt holds stake in Lakshmi mills Rich land bank What we need?
5.59 PM May 4th 2014
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then is what are the stocks that are flashing "buy" based on your Kaplan Miers tool.. can you share some .. maybe I will find something worthwhile.. Thanks for all the help.. --------------------- another interesting stock is:Gujarat ambuja exports.. company reported 100Cr net profit has Zero long term debt
4.01 PM Feb 13th 2014
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Source:NDTV Profit - The BSE Sensex rose 137 points on Tuesday as lenders recovered from recent steep falls after the RBI's move to purchase bonds eased concerns about the value of the sector's debt holdings. The markets were also buoyed by a top government official's
6.14 PM Oct 1st 2013
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Exactly.. ! I have made my portfolio such a way that capital is by and large protected... Invested 60% of money in debt yielding 8.4 to 9% returns... Even in years, if market is at same levels, I will make overall 6% returns, and if falls by 30-40% , portfolio is protected bcz of debt holdings.. I
1.18 PM Aug 8th 2013
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), it was just 6%.... this because of my significant debt holdings, otherwise the returns would have been mere 2-3%..
9.44 PM Aug 6th 2013
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Shares in state-owned banks slump as a drop in bond prices sparks concerns about losses in their debt holdings; report rauters, see fall in Banking stocks in comming days as well
3.14 PM Jul 24th 2013
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Shares in state-owned banks slump as a drop in bond prices sparks concerns about losses in their debt holdings; report rauters, see fall in Banking stocks in comming days as well
3.13 PM Jul 24th 2013
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good company with zero debt.hold
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INDIA-ECONOMY-DEBT:Chidambaram examines sub-limits on foreigners' debt holdings
9.42 PM Mar 4th 2013
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text:
I'm looking at Pearl Izumi PRO Softshell Lite full finger gloves, which look great as the temperature goes down... but for snowy and ice conditions, what do I use?
These look nice, but the reviews I've read say around 40F they start to lose relevance ... it's too cold, they're not insulating enough. I see as low as -5C regularly, but I've seen as low as -15C.
Pearl Izumi says these work as a liner:
Does that mean I can/should wear those INSIDE the Softshell gloves for added warmth?


text:
7D "Error 02"
Started Oct 20, 2010 | Discussions thread
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Josh Menzies • Forum Member • Posts: 79
Re: 7D - CF Card write error
I'm curious to see if anyone else has had a similar problem. I just shot a wedding two weeks ago that I had this same thing happen with the same card; I too was shooting RAW at high speed. Unfortunately for me, it happened at the absolute wrong time...during "the kiss"! Needless to say, I'm kicking myself because of it and the clients were not the happiest but are understanding.
The error was the same error 02.
Anyone know if it's possible that a file was partially written to the card but not recognized by the camera that may be recovered?
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text:
Concept testing involves testing the "idea" of something, rather than the actual thing itself. The concept is communicated
with a rough illustration or photograph, along with a written description. Think of a concept as a rough print ad, although concepts can be presented in storyboard
or video form.
Concept testing is widely used to evaluate new product ideas, so that potentially successful new products can be identified early on. Then limited research and
development resources (and limited marketing resources) can be focused on the new product concepts with the greatest probability of consumer acceptance in
the marketplace. Concept testing can also be used to help evaluate advertising concepts, promotional concepts, packaging concepts, and strategy concepts.
An online choice modeling system to determine the optimal mix of new product/service
concept variables or elements. Qualitative research is typically used to identify
the key variables and the ranges of the variables. Once the basic elements of
effective concepts for a new product/service (or new strategy) are identified,
based on qualitative or other research, a ConceptOpt™ choice model experiment
can be set up.
ConceptOpt™ is a research method to help create prototype concepts, using
choice-modeling experiments. Different product features, benefits, messages, packages,
illustrations, imagery, etc., can represent thousands of possible concepts. ConceptOpt™
tests subsets of all of these possibilities to predict the consumer appeal of
every possible combination of concept elements. Target-audience consumers are
asked to rate the degree to which various combinations of the variables (scenarios)
create interest in buying the brand or product/service. Each respondent usually
sees five to 10 scenarios (i.e., combinations of variables). Choice modeling algorithms
derive the potential selling value of all possible combinations, even combinations
never shown to participants, including interactive effects among the variables.
ConceptOpt™ permits hundreds of creative possibilities to be evaluated efficiently.
The top 10 or 15 concepts thereby identified then go into normal quantitative
A proprietary system that allows you to screen and evaluate sets or batches of early-stage new product concepts.
In the early stages of a new product development effort, the first goal is to generate as many new product ideas as possible. Typically 50 to 100 or more new product ideas
result from early-stage brainstorming. The next crucial step is to evaluate these embryonic ideas and decide which of them are good enough to be developed further.
The structure of ConceptScreen® allows for the comparison of many different concepts to each other. Typically, 10 to 20 early-stage concepts are tested
together as a group. That is, each respondent sees and evaluates every concept.
A representative sample of 200 to 500 target-audience consumers are recruited to review and evaluate the concepts. Each respondent sees all of the
concepts twice. The respondent first reviews all of the concepts but does not rate them. The second time that respondents see each concept, they are asked to
answer four questions about each one.
The answers to these four questions are fed into a mathematical model that computes a relative volumetric market potential score for each concept. The score of all of the test
concepts can be compared to the scores of the control concepts to estimate which of the test concepts are likely to do well in the marketplace.
An online system to provide diagnostic feedback for early-stage individual product concepts.
The results from ConceptCheck® can give you a better idea of the needs and desires of consumers, so you can refine the new product concept to improve
its chances of success—before going to a full-blown, predictive concept test. ConceptCheck® includes verbatim "why" responses from respondents on
the new product concepts.
Each concept is tested monadically. That is, each respondent sees and evaluates only one concept. Qualified respondents are invited to Decision Analyst's
encrypted website to participate in the survey. A total of 75 to 150 target-audience consumers are asked to review and evaluate the concept. Each respondent has
continuous access to the concept. The respondents see the concept, then they are asked to answer several questions about it. The questionnaire includes some
standard closed-end questions, as well as a series of open-ended questions to determine how the concept could be improved.
Since one of the main purposes of ConceptCheck® is to enrich and flesh out a concept, the report contains the verbatim results of all open-ended questions
and insightful diagnostic feedback based off of normative data from the closed-ended questions. ConceptCheck® results provide a "directional" estimate
of a concept's probable effectiveness as well as guide the creative development of the concept.
The industry-leading, Internet-based, concept testing system can improve your company's chances of success in developing and introducing new products.
Our predictive mathematical model calculates an overall SuccessScore® for each concept, based on a number of important variables. This score is
then compared to our action standards to determine if the new product concept warrants further development.
A representative sample of consumers is invited to Decision Analyst's encrypted Webserver to view the new product concept and complete a battery of questions
and diagnostic ratings. Recommended sample size is 200 to 300. Each concept is tested monadically (i.e., no respondent evaluates more than one concept).
Then the respondents complete a battery of questions and diagnostic ratings about the concept. The results are tabulated and then fed into the predictive
mathematical model that calculates an overall SuccessScore®. This score is compared to our action standards for successful new products.
This predictive mathematical model calculates an overall SuccessScore® for the new product concept, based on the following variables:
Decision Analyst's concept testing systems are for more than new product concepts:
Qualitative research can provide basic understanding in a product category, to serve as a foundation for the creation of sound concepts. Focus groups and
depth interviews are commonly used to ensure that new product (or other) concepts are accurately communicating as intended, so that the quantitative testing will
be reliable and accurate. Qualitative research is also valuable in tweaking and fine-tuning concepts. Any final evaluation of concepts should be based on quantitative
research, not qualitative.
Decision Analyst is a global marketing research and analytical consulting firm
with over 3 decades of experience in new product concept testing and new product
consulting. Our American Consumer Opinion® panel
has over 8 million consumers around the globe ready to evaluate your new product
ideas online. Decision Analyst is the leader in online concept testing. If you
would like more information on Concept Testing, please contact Jerry W.
Thomas, President/CEO (firstname.lastname@example.com),
or call 1-800-ANALYSIS (262-5974) or 1-817-640-6166.


text: Hey, The Master has a new trailer, and it comes filled with such Paul Thomas Anderson signatures as a persistent, off-putting banging noise and a Philip Seymour Hoffman in a memorable supporting role. Hoffman plays an L. Ron Hubbard-esque cult leader, and this trailer also imparts a little more of that character's questionable, decidedly-unscientific wisdom, with a Hoffman voiceover explaining that mankind exists in a spiritual realm well above animals, which are mere beasts. Someone needs to show this guy that skateboarding dog.


text:
Well, that didn't take long. Just after reports earlier today that director Neill Blomkamp was shopping his secretive sophomore sci-fi epic "Elysium" around town, it's now been revealed that Sony wants to get back into business with the director in a big way.
THR reports that the studio has coughed up a staggering $120 million dollars for "Elysium" and while it's not yet confirmed, we presume it will give them worldwide rights to the film. And while the figure might be high, it's easy to see why Sony wants to work with the director once again. "District 9" was a massive hit for the studio, pulling in over $200 million worldwide on a budget of $35 million and landing four Oscar nominations including Best Picture (a rarity for sci-fi films). As for "Elysium" it's already boasting a strong cast with Matt Damon, Jodie Foster and Sharlto Copley all aboard, and even more exciting, famed "Blade Runner" visual futurist Syd Mead has come aboard to work on set design. Frankly, it's not surprising it was snapped up so quickly.
Pre-production on the film is slated to begin in April with shooting to begin in July in Vancouver before moving to Mexico in the fall. The film will be fully financed by Media Rights Capital and is currently eyeing a holiday season 2012 release.


text:
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« SheKnows Celebrities: Shahs Of Sunset's Reza Farahan | Home | SheKnows Celebrities: Vanderpump Rules' Tom Sandoval And Kristen Doute »
Camille Grammer Says That Therapy Is Helping Her Heal
November 14, 2013 01:30 PM by Suzy Kerr
It's been a month since former Real Housewives of Beverly Hills star Camille Grammer underwent a radical hysterectomy to combat early-stage endometrial cancer. It's been about the same amount of time that she was also allegedly physically assaulted by her ex-boyfriend, just days after the procedure. They say time heals all wounds, and while there may be some truth to that statement, Camille is also relying on the help of professionals to get through this undeniably rough patch in her life.
The former reality star and ex-wife of Kelsey Grammer opened up to Dr. Oz during a taping for his talk show, discussing her recovery over the last month."It's been four weeks today, a month ago. I'm feeling great," the 45-year-old mother of two said. "I have to say, once in a while I'll get a little pain here and there, but I'm walking around. I was able to go trick-or-treating with my kids and my life is moving forward and I'm feeling very well, thank you."
She also revealed details about the moment she discovered she had cancer, and how her kids have been coping with it. "My heart sank. You know, you think about your children, am I gonna make it, I want to be alive for them. My kids — my ex-husband hasn't seen the kids since July so I'm mom. I'm there. So I really needed to be here for them. My son doesn't really understand it that well, but my daughter said, mom, I'm so glad you're getting surgery 'cause then the cancer's gonna be all gone."
Of course, the abuse allegations also came up in the conversation, with the Real Housewives of Beverly Hills alum shedding a little more light on the subject."Oh, it was just terrible 'cause, you know, right after any kind of procedure, you want to be surrounded by love and you need good healing vibes and positive energy around you," she confessed. "I was physically abused and assaulted by this person and it was very traumatizing. But now, I'm working with a therapist and I'm going to be okay. I'm doing well."
Camille Grammer's appearance on The Dr. Oz Show is slated for later this afternoon.
What do you think about Camille's recovery process? Tell us in the comments!
Want more? Follow our tweets on Twitter and like us on Facebook! Click here for more information about The Real Housewives Of Beverly Hills. For other great reality TV news, please feel free to check outSirLinksALot: The Real Housewives Of Beverly Hills.
Photo Credit: Bravo
Topics: Bravo Reality TV Shows, The Real Housewives Of Beverly Hills |
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text:
From today, 1st February, Michael Colglazier will be the new president of the Disneyland Resort.
Colglaziers Disney career spans more than two decades across several areas of Walt Disney Parks and Resorts, including Operations, Global Development, Disney Photo Imaging, Operations Strategy and Technology and Strategic Planning. For the last several years, Colglazier has served as head of Disneys Animal Kingdom Theme Park, where he has been instrumental in the planning and development of an Avatar-themed land. In prior leadership positions, he oversaw the creation and growth of Disneys PhotoPass program and helped re-energize Innoventions at both Disneyland and Epcot through strategic partnerships.
I am honored to have the opportunity to lead the Disneyland Resort and serve as a steward of both its heritage and its continued growth, said Colglazier. I am excited to work with the resorts 25,000 Cast Members as we continue to carry out Walt Disneys legacy of creating lasting memories for our guests, and I look forward to partnering with Anaheim and Orange Countys community and business leaders to ensure the continued economic vitality of our community and region. My family is just as excited as I am and we all look forward to becoming part of the Disneyland family and Orange County community.


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Joe and Reva Harman of Canaan Valley announce the engagement and forthcoming marriage of their daughter, Heather Jo Harman, to Keith Randall Brown, son of Randy and Sheryl Ware of Valley Head.
The bride-elect is a 1995 graduate of Tucker County High School and received her paramedic certification from Fairmont State College in 1999. She is employed at the Randolph County Emergency Squad as a paramedic. She is the granddaughter of Everett and Beatrice Johnston and the late Harry and Helen Harman.
Her fiance is a 1996 graduate of Tygarts Valley High School and a 2001 graduate from Fairmont State College with a bachelor's degree in business management and marketing. He is employed by the Kroger Co. as store manager for the Elkins store. He is the grandson of the late Clarence and Marvis Conrad and the late Freddie and Ina Brown and the step grandson of Rita Conrad.
Article Photos
The wedding will take place at 5p.m. Sept. 10 at the First United Methodist Church in Elkins. All family and friends are invited to attend.


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Head shave in support of sibling (From This Is Wiltshire)
Head shave in support of sibling
2:00pm Friday 23rd August 2013 in
CALNE resident Emma Haines is having her hair shaved off in support of younger sister Heidi Hudd, who has been diagnosed with cancer for the second time.
Mrs Haines, 35, of North End, has booked an appointment for the head shave on August 30 at Maria Christina Hair and Beauty Salon in New Road, Chippenham, where her sister's teenage daughter Chloe Hudd works.
Her sister, who lives in Bromham, was diagnosed with breast cancer seven years ago and fought off the disease, only to be diagnosed with liver and bone cancer recently.
Mrs Haines will raise funds for Cancer Research UK and if she raises £1,000 by the time of her appointment, her husband Brett and Mrs Hudd's husband Martin will also have their bodies waxed.
Mrs Haines, who runs her own mail order business, said: "She's one of those very upbeat people, but the one thing she did say is 'I don't want to lose my hair again' so that's why I'm doing it.
"Heidi has been given a cold cap – chemotherapy doesn't like cold areas, so by applying a cap that freezes your head, it stops the medication from going to your hair.
"Forty per cent of people lose their hair regardless and if Heidi does lose her hair it will be on that date. If she does we will do it together, and if she doesn't she will be able to laugh at me."
To sponsor Mrs Haines visit www.justgiving.com/ Emma-Haines1
Comments are closed on this article.


text: Dr Ilya Mandel PhD School of Physics and AstronomySenior Lecturer Contact details Telephone+44 (0) 121 414 7434Fax+44 (0) 121 414 firstname.lastname@example.com AddressSchool of Physics and AstronomyUniversity of Birmingham Edgbaston Birmingham B15 2TT UK Dr. Ilya Mandel is interested in all aspects of the rapidly growing field of gravitational-wave astrophysics. Ilya has co-authored more than 40 papers on rate predictions for binary mergers leading to gravitational-wave emission, gravitational-wave data analysis and parameter estimation. Staff detailsMedia informationPolicy information Qualifications PhD in Physics, California Institute of Technology, 2007 MS in Computer Science, Stanford University, 2001 BS in Physics, Stanford University, 2000 Biography Ilya Mandel received a PhD in physics from the California Institute of Technology in 2007, with a specialization in gravitational-wave astronomy, under the supervision of Kip S. Thorne. He carried out postdoctoral research at Northwestern University and at the Massachusetts Institute of Technology as a National Science Foundation astronomy and astrophysics postdoctoral fellow, focusing on sources of gravitational waves, data-analysis challenges posed by current and planned gravitational-wave detectors, astrophysics of compact-object binaries and ways in which upcoming observations of gravitational waves can aid our understanding of this astrophysics. During this time, he established himself as one of the leaders in the field of predicting event rates and carrying out data analysis, particularly parameter estimation, for the LIGO observatory, as well as in the emerging field of interpreting results from gravitational-wave observations. Teaching Teaching Programmes MPAGS module on Gravitational-wave Astronomy Postgraduate supervision Currently supervising William Vousden Research RESEARCH THEMES Gravitational-wave astronomy Compact-object binaries Astrophysics of compact objects Gravitational-wave data analysis Testing general relativity RESEARCH ACTIVITY Rate predictions for compact-binary coalescences Parameter estimation for compact binaries Astrophysical interpretation of gravitational-wave observations Publications I. Mandel and R. O'Shaughnessy. 2010. Compact Binary Coalescences in the Band of Ground-based Gravitational-Wave Detectors. Class. Quantum Grav. 27, 114007 I. Mandel. 2010. Parameter estimation on gravitational waves from multiple coalescing binaries. Phys. Rev. D 81, 084029. arXiv:0912.5531 I. Mandel, D. A. Brown, J. R. Gair, M. C. Miller. 2008. Rates and Characteristics of Intermediate-Mass-Ratio Inspirals Detectable by Advanced LIGO. ApJ 681 1431-1447 J. Abadie et al. (LIGO Scientific Collaboration and Virgo Collaboration). 2010. Predictions for the Rates of Compact Binary Coalescences Observable by Ground-based Gravitational-wave Detectors. Class. Quant. Grav. 27, 173001 Expertise Black holes; neutron stars; compact-object binaries; intermediate-mass black holes; stellar dynamics; globular clusters; gravitational-wave astrophysics; LIGO; LISA. Statistical data analysis methods; Bayesian techniques; Markov chain Monte Carlo. Expertise Black holes; neutron stars; compact-object binaries; intermediate-mass black holes; stellar dynamics; globular clusters; gravitational-wave astrophysics; LIGO; LISA. Statistical data analysis methods; Bayesian techniques; Markov chain Monte Carlo.


text:
Our strength as a group lies primarily in our diverse people and their limitless capacity to bring their passion to bear on the development and delivery of innovative products and services, creating an excellent customer experience to deliver timely and bespoke solutions for our multinational and multicultural customers. We have created a corporate culture founded upon strong organizational values and performance-driven operating standards.
We derive our strength from our unique positioning which include:
The extensive nature of the bank's operations means that UBA adheres strictly to the best risk management practices. UBA currently has one of the lowest NPLs in the banking industry, a testimony to the bank's rigorous credit risk management process. The bank has in a place a strong enterprise management process that ensures that all risks are adequately covered in the bank's operations.


text:
|Contra Syncretist
"Traditional music was not amp'ed because they didn't have it." -- Ed Howe of Perpetual e-Motion, interview with Contra Syncretist, published August 29, 2011.
I was thinking about what Ed said when I saw this post over on the Washington Post's Classical Beat blog a little while back. In it, Anne Midgette talks about 24-year-old classical concert pianist Yuja Wang, who has drawn quite a bit of attention to herself in the classical music world lately by wearing rather starkly modern fashions while performing in her very traditional medium, most recently at a concert at the Hollywood Bowl.
Updates are currently on indefinite hiatus as of summer 2013, but hope to see you soon on a contra dance floor! Meanwhile, head over to our Facebook page for upcoming techno contra events and other items of interest (e.g., the end of the hiatus, when it comes).
So goes the plan, anyway....
Friday Flourishes are on indefinite hiatus as of April 2013, but our previous 100+ videos can still be found on YouTube. Feel free to send more our way, though -- we will still post these sporadically as our schedules permit.
I dance with abandon. I play with glowsticks. I look for music that is conducive to one or both. I play behind cameras. I write about all of the above. I'm based in Glen Echo's contra dance community outside of Washington, D.C., but I'm happy to go dance afield when I can. Lather, rinse, repeat. Always repeat.
July 2013
Comments are welcome; spam-bots and disrespectful behaviors are not. Please do (nicely) point out errors if they are found.


text:
Seminole County Man Sentenced to More Than Six Years for Possessing Child Pornography
|U.S. Attorney's Office January 04, 2013
ORLANDO—Chief U.S. District Judge Anne C. Conway sentenced Roberto J. Irizarry-Colon (28, Chuluota) yesterday to six-and-a-half years in federal prison for possessing child pornography. The court also ordered Irizarry-Colon to forfeit the computers and thumb drives that he used to possess the child pornography. As part of Irizarry-Colon's sentence, the court also ordered him to serve a life term of supervised release and to register as a sex offender. Irizarry-Colon pleaded guilty on August 14, 2012.
According to court documents, Irizarry-Colon possessed and stored child pornography on his computers, thumb drives, and on several online storage servers. During the execution of a search warrant, law enforcement officers searched several thumb drives and two computers that Irizarry-Colon owned. The officers found thousands of pictures and 100 movies which recorded the sexual abuse of children less than 12 years old. During an interview, Irizarry-Colon admitted to possessing child pornography for the last 10 years.
This case was investigated by the Federal Bureau of Investigation and the Seminole County Sheriff's Office. It was prosecuted by Assistant United States Attorney Karen L. Gable.
It is another case brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by the United States Attorneys' Offices and the Criminal Division's Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state, and local resources to locate, apprehend, and prosecute individuals who sexually exploit children and to identify and rescue victims. For more information about Project Safe Childhood, please visit www.justice.gov/psc. For more information about Internet safety education, please visit www.justice.gov/psc and click on the tab "Resources."


text:
Looking for couches? www.hotfrog.co.uk showcases more than 166 businesses grouped by couches within UK. To find more businesses related to couches, furniture or Sofas, and to filter by locality, use the left navigation menu.
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Entirely handmade in our Manchester factory using only the best materials including solid beech frames from sustainable forests, serpentine springs, high quality foams and the top 5% of UK hides. Our Chesterfield Sofas …
Leather ChesterfieldsAniline Leatherantique leatherFull Grain Leather
… We have been supplying companies such as since their arrival in the UK with Facial Steamer centres and couches etc We have been sole UK distributor for of Germany for their medical and beauty devices, providing…
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Stockton, Cleveland
Shop SHARAKS newest range of fabric and leather sofas, including corner and recliner sofas and armchairs, sofa beds and footstools. Many discounts and sofa on sales offered
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Bridgend, The Vale of Glamorgan
Christopher Designs (Furniture) Ltd is a byword for excellence in upholstery Design and Manufacture. Here at Christopher Designs our philsopy is to produce exactly what our customers request to the hghest quality and …
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Dartford, Kent
Italian leather and fabric sofa, armchair, chair, furniture. Innovation design, modern and classic, comfort and relax by Natuzzi. Italian Sofas made in Italy
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London, London
Quirumed Medical Supplies and Health Products, is a supplier of highly recognised international brands . We also supply our own brand equipment and products at very competitive prices. Medical supplies, equipment and …
Bournemouth, Dorset
urine analysisophthalmoscopesotoscopesBlood Analysis
Tamworth, STAFFORDSHIRE
Welcome to the Massage Table Store, your one stop shop for massage tables, chairs and accessories from across the globe. We supply students, home-users and professional therapists with equipment, accessories and consuma…
Cardiff, South Glamorgan
Ash Medical are providers of first aid, Medical & Surgical equipment to the medical profession, serving GP surgeries, Hospitals & Industry throughout the UK
ophthalmoscopesotoscopesMedical Equipment and Suppliesaudiometry
Winchester, Hampshire
The Furniture Emporium: About TFW Our entrepreneurial team of 24 includes a highly qualified designer, sales and support, IT management, accounts team, warehouse and delivery staff
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Acton, London
The Sofa and Chair Company designs and manufactures quality upholstered furniture in London. The range of furniture includes sofas, sofa beds, armchairs, ottomans, cubes, bar stools, upholstered beds and headboards, and…
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Mobilis Healthcare Group offers the largest range of physiotherapy products in the UK. You'll find everything you need for your department or clinic. There's a wide range of couches and clinic furniture to ensure pati…
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Aylesford, Kent
UK Specialist provider of Cardio Respiratory Diagnostic & Therapeutic equipment. Specialists in Portable Oxygen Concentrators, Spirometry, Smoking Cessation, Lung Function
Free Trade Wharf, London
London based high quality furniture manufacturers. Specialists in hand made classic and contemporary bespoke sofas. Custom made so can fit through doors, awkward corners, small hallway, through stairs, lofts, boat etc. …
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Coventry, WEST MIDLANDS
The widest selection of professional hair and beauty products: wax, nails manicure and pedicure, furniture and equipment, tanning, stone therapy and aromatherapy, skincare and bodycare, cosmetics, salonwear and more. Fr…
chairs and stoolsspa equipmentCND shellachair & beauty products
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Lostwithiel, Cornwall
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text:
18KT White Gold 1.59ct Diamond Ring FJM1316
You are bidding on the following lot: 18KT White Gold 1.59ct Diamond Ring FJM1316. Many of our items have been professionally appraised by an actual gemologist. This item is valued at $ 9670. When shown with the lot, a genuine appraisal will be included and shipped with this item. (See disclaimer for details regarding jewelry appraisals).
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- Phone: (877) 468-2521 x231
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