Timothy Leary as an American Hero essays

Timothy Leary as an American Hero expositions The term saint infers numerous thoughts, numerous occasions, and numerous individuals. In any case, one face it for the most part neglects to invoke is that of Timothy Leary. Dr. Leary figured out how to make a degree of notoriety barely any Americans have accomplished since this countrys commencement; he is the perfect example of the psyche modifying psychedelic drug LSD and has been named by numerous individuals as the rebellious pioneer of the counter-culture development of the sixties. Very few individuals welcome this incredible keeps an eye on long series of achievements, his commitment to logical advancement, or his happy, powerful character. It is a little hover of individuals without a doubt who might name this man a saint, yet in all actuality Dr. Leary exemplified the standards of mental fortitude, revelation, and consideration, which none can deny are gallant trademarks. No man has indicated more fortitude despite misfortune than Timothy Leary. One extraordinary case of his valor originates from his initial a very long time as a cadet at West Point during the 1940s. In the wake of enjoying an amount of liquor with some upperclassmen after a football match-up one night, Leary wound up before the Cadet Honor Committee of West Point anticipating discipline. The advisory group declared that he should dodge social contact of any sort, in spite of the way that during his court-military the charges brought upon him were hurriedly dropped. For nine months he endure this automatic isolation, until at long last the school solicited him to leave in light of the fact that from moral issues that his discipline was causing. Leary conceded to the condition that his guiltlessness would be reported in the wreckage lobby. After two days, he left West Point. Long a short time later, in the wake of acquiring a doctorate in brain science and serving a few residencies at renowned establishments as Berkley and Harvard, Dr. Timothy Leary built up an enthusiasm for what he would later get acclaimed for: hallucinogenics. Initially his examinations were supported by Harvard, yet after medication misuse turned into a maj... <!

Response Essay :: Essays Papers

Reaction Essay At the point when the issue of Animal Testing is raised over the span of a discussion, pretty much everyone that is associated with this conversation will have feelings that vary here and there, shape, or structure. Numerous individuals will discuss the terrible conditions that creatures are compelled to live under, just as the agony and enduring that they should suffer while being tried. Notwithstanding, these conditions are not too horrendous when you consider the condition of the world we live in. This issue can be bantered to and fro until the finish of time. It is an issue including two absolutely inverse perspectives, experts versus cons. Star Con. The Con side will express that such a significant number of creatures are unnecessarily utilized while in a test, yet as indicated by Roger Marshall, enormous numbers must be utilized in tests so as to represent factually solid outcomes (Marshall 1). The Con side will likewise say it isn't required, and it fills no need, be that as i t may, creature testing is an extraordinary thing, since it can help discover solutions for human ailments, it can help in the headways of clinical systems, and it can likewise discover remedies for diseases of creatures. For a long time, performing research on creatures has had significant advantages for mankind, and without the steady improvements we get from it, we may at present be tormented by the most medieval of infections that we don't consider in this day in age. The likelihood of cardiovascular failures, strokes, and kidney disappointment would significantly increment on the off chance that we didn't have the prescription we would now be able to use to control hypertension. As indicated by the American Medical Progress Education Foundation, extraordinary headways have been made with respect to cardiology, including coronary blood stream, coronary detour methods and hypertension drug (Research 2). Numerous prescriptions have been delivered because of testing on creatures, i ncluding insulin, the medicine used to direct diabetes. In the event that creatures were not utilized in clinical research, we may in any case be experiencing a daily reality such that we should fear ailments like polio, smallpox, and even measles. Human Benefits. Medication alone isn't the main thing that has been immeasurably improved because of creature testing, the manner in which we treat ailments and medical procedures has all radically changed and improved.

Mad scientist

Mad scientist According to Wikipedia, mad scientists are typically characterized by obsessive behavior and the employment of extremely dangerous or unorthodox methods. They are often motivated by revenge, seeking to settle real or imagined slights, typically related to their unorthodox studies. Ok, so maybe Im not a mad scientist. But, when people ask me where I am, the answer is inevitably “In lab.” My class schedule serves to justify my response. I am taking the following: 7.02 Biology Lab A notorious pre-med requirement…with a grueling 18 credits (Each week, we have 2 hours of lecture, 2 hours of “Scientific Communication” class, 8 hours of lab, and approximately 6 hours of homework and lab-prep.) We spend the semester learning pretty much all of the basic biology techniques, from protein biochemistry to genetics. People enter the class with varying levels of lab experience: some have never even held a pipette, and others are Seniors who have published papers. One great thing about the class is the degree of instructor interaction; some really great professors (J. King, T. Orr-Weaver, D. Kim, T. Schwartz) teach the lectures and hang out around the lab to ask us questions and get to know us. 2.004- Dynamics and Controls II- One of the most fun and practical of the Mechanical Engineering requirements. We learn how to model, analyze, and control systems. Control systems are actually all around you (and even in you! For example, your blood sugar is regulated through a very complex control system to make sure that your body has enough juice to function.) There is also a lab component, and though it’s only 2 hours a week, it really helps with learning the concepts presented in lecture. Incidentally, Laura is also taking the class. On the first day of lecture, the professor called on her, proceeded to forget her name, and then called her “Lauren” for the next hour. It was hilarious. So, everyone should call her Lauren now. Prof. Gossard is actually wonderful about learning people’s names and interacting with the class. 21H.302- Ancient Rome- I will be the first to admit that history classes generally scare me. I hadn’t taken a history class since 10th grade…but I chose to take Ancient Rome since I took 3 years of Latin in high school and I think the Romans are ridiculous and really interesting. Professor Ostrow is a really engaging lecturer; he makes the hour go by so quickly! Everyone who completes the class qualifies to go on an IAP trip to Rome to take a guided tour with the professors and see the incredible Roman ruins in person. We will be reading and interpreting many primary texts. HST.S12- Seminar in Human Clinical Investigation- Taught by an assistant program director at the MIT Clinical Research Center, this seminar is shaping up to be really swell =) Not only do we get to meet leaders in Clinical Research in the Boston area, but there’s minimal homework and free lunch! I worked in an NIH Clinical Genetics lab last summer (and I’ll be working there again this summer), so hopefully this seminar will give me a good feel for whether this is something I want to do for the rest of my life. UROP- MIT Bioinstrumentation Lab Today was a really, super fantastic day. I got some really great results, and it was such a wonderful feeling… it definitely makes it all worth it. After my 96-well plate had a yellow reaction in all the right places, my UROP supervisor and I started celebrating. I’ll be starting to write a paper based on the research I’ve been doing for the past year and a half and hopefully I’ll be able to submit it to a journal by the end of the year. So, let’s see…adding it all up: 8 + 2 + 12… 22 hours in lab a week (on average…sometimes even more)! Yay! I wouldn’t have it any other way =)

Enron The Demise Of Enron - 1740 Words

Enron was a corporation that reached heights unknown, only to watch it fall apart from the inside out based on a foundation of falsehoods and cheating. Enron established a business culture that flourished on competition and was perceived in society as an arrogant corporation, mainly because of its corporate leadership. The fairytale of Enron actually ended as a nightmare with it destroyed by one of America’s largest bankruptcies in history. The demise of Enron impacted the livelihood and futures of numerous employees, their pensions, and in due course impacted Wall Street in a significant way. Even people today are amazed at how such a powerful company met its demise so rapidly. Enron’s end was a product of greed when certain executives of Enron were not eager to accept the failure of their company. The company utilized mark-to-market accounting that detailed the projected impending profits from a long-term deal (Lawry, 2015, p. 28) The results of the deals did not gene rate revenue as anticipated, but tremendous loss instead. This resulted in Enron accumulating enormous amounts of debt that they attempted to keep classified from the public. Ultimately the truth came to fruition. Presently, Assurant has many formal policies in place, but as with any Fortune 500 company, informally – there is much work to be done and improved upon. Assurant may not be founded on deceit per say, but the insurance business is â€Å"business† and leaves a bad taste in many people’s mouths. Documents,Show MoreRelatedEnron : The Leading Factor That Had Enron Into Its Demise Essay1608 Words   |  7 PagesThe leading factor that had Enron into its demise revolves around the notion that, â€Å"companies are often so concerned with appearance and damage control that they are unwilling to engage in the degree of examination required to root out the entrenched causes of trust violations† (Hurley, Gillespie, Ferrin Dietz, 2013). The historical performance of Enron’s rising share prices, coupled to the constant positive media attentions, only added fuel to the fire in terms of Enron’s competitive culture.Read MoreOrganizational Culture : The Dem ise Of Enron1489 Words   |  6 Pagescorporations but some, like Enron operate parallel to the all the good they portray but in a vacuum they operate with only their selfish desires and greed. Organizational culture can be difficult to define in a sense because it’s not a palpable concept. For example, culture is more like a tradition, belief, or something cultivated; surely it can be felt, but it can’t be grasped. Thus this paper will examine the definition of organizational culture, the demise of Enron, and discuss ways the leadershipRead MoreThe Ethical Dimension Of The Demise Of Enron Corporation1474 Words   |  6 PagesThis paper explores the ethical dimension of the demise of Enron Corporation an reflection of author, placed in hypothetical situations. Accounting Fraud and Management philosophy will be the main discussion topics, along with the motivations of fraud. The fall of Enron can be directly attributed to a violation of ethical standards in busines s. This makes Enron unique in corporate history for the same actions that made Enron on of the fastest growing and most profitable corporations, at the turnRead MoreEnron‚Äà ´s Demise ~ Where There Warning Signs?1408 Words   |  6 PagesStudy Analysis ~ Enron’s Demise ~ Where There Warning Signs? Janise Baldwin Management Decision Making-Summer 2013 C. Forest Guest July 14, 2013 Executive Summary Enron is a company which headquarters is located in Houston, Texas. Enron was first headed by Samuel F. Segnar. Enron was the result of InterNorth’s acquisition of Houston Natural Gas in 1985. Under the new terms of this acquisition, the company was headed by Kenneth Lay on the first day of 1997. Enron offered employment for 20Read MoreDescribe the Strategic Management Failure in Enron That Led It Into Its Demise?1155 Words   |  5 Pagessome research on the Internet about what has happened with Enron. Now apply the three questions used to test the merits of a winning strategy (text p13) to Enron. Describe the strategic management failure in Enron that led it into its demise? Enron was formed in 1986 from the merger of natural gas pipeline companies Houston Natural Gas and Internorth. At the time of filing for Chapter 11 Bankruptcy protection in December 2001, Enron had a portfolio of diversified activities ranging from the transportationRead MoreReasons for Enrons Business Failure1434 Words   |  6 PagesEnron - Reasons for Business Failure Abstract Various major companies in the past have witnessed unimaginable growth of their businesses, but some of them eventually had to succumb to downfall as their business models failed. Most of these businesses had been deemed as failures due to the management methods, leadership practices and flawed organizational structures. This research paper aims to focus on Enron, a large entity as a failed model of business. This would be achieved by discussing aboutRead MoreEssay on CaseAssignment21409 Words   |  6 PagesAssignment: Enron Case 9 Yesenia Garcia BUSI 472- B07 LUO Introduction In 1985 Ken Lay took over a couple of big name gas pipeline companies that came together and thus the infamous Enron Corporation began. They offered a variety of services that were not limited to natural gas but also included electricity, communications, and many energy related services. Together, CEO Jeffrey Skilling, Chairman Ken Lay, and CFO Andrew Fastow were able to bring transformation to Enron. They createdRead MoreTaking a Look at the Enron Scandal1270 Words   |  5 Pagesreal cash flow had not come to the company yet. Moreover, cause when Enron come to the long term contract, they would assumed that there were long term declines in spot prices (Page 6, journal of economics), there would be the risk of loss if there were the increase in the price of gas in the future and it does not recognize in the financial statement; therefore, to make the income statement made more sense in economics term, Enron had created an accounting structure that help the company to stableRead MoreThe Ethics Of The Enron Scandal1441 Words   |  6 Pagesinfluenced by others. However, in the business world, the influence of power and money has cost people their livelihoods as well as compromised their self-dignity on many levels. One highly publicized scandal that many have known and read about is the Enron Scandal. The motive behind what a person will do remains endless as it is seen in this unfortunate tale of lies and greed in one corporation. The part that many question even to this day is when the story unfolded it was announced that several peopleRead MoreThe Collapse Of Enron And Enron1736 Words   |  7 PagesAbstract Fortune used to rank Enron as the most successful business in the United States. The collapse of Enron was shocked the whole world energy trading market. It caused significant losses to investors. In this paper shows analysis reason of factors that lead to Enron demise and also lessons can be learnt from Enron case study. The approach which have used in this paper to respond, the case study question are the background of the case organization and how business structure had been use by the

Essay on Balanced Scorecard for Ford Motor Inc. - 4105 Words

The Balanced Scorecard for Ford’s North American Business Unit Table of Contents Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.2 Mission Statement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 Balanced Scorecard†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.3 Financial Perspective†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦......5 Customer Perspective†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦....10 Internal Business Process Perspective†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.12 Learning Growth Perspective†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..14 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦.16 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..17 Executive Summary The Ford Motor Company, founded in 1903 by Henry Ford, is synonymous with American innovation and capitalism. With iconic branding and revolutionary†¦show more content†¦The Balanced Scorecard for Ford’s North American Business Unit Financial Objectives |Metric |2009 |2010 |2011 |Target | |Revenue Growth |Annual Rate of Growth |-19.02% |10.90% |5.67% |5.5% - 6.0% | |Operating Profit Growth |% EBIT/Sales |0.72% |1.11% |1.13% |= or 1.13% | |Solvency |Net Profit + depreciation/Total Liabilities |1.4% |4% |12.3% |13 -14.5% | | Customer Objectives |Metric |2009 |2010 |2011 |Target | |Customer Satisfaction |Global Quality Research System customer satisfaction (3 months in service), percent satisfied1 |n/a |n/a |68 |75 | |Value to Customers |Ford U.S. fleet fuel economy, combined car and truck, miles per gallon (higher mpg reflects improvement) |27.1 |26.9 |27.8 |30 | |Quality/Safety |Percent of Nameplates Achieving IIHS Top Safety Pick by Manufacturer |n/a2 |52% - for 2011 models |75% - for 2012 models |80% for 2013 models | | Internal Business Process Objectives |Metric |2009 |2010 |2011 |Target | |Outsell competition |US Market Share |15.3% |16.4% |16.5% |=16.5% | |Sustainability |Ford U.S. fleet CO2 emissions, combined car and truck, grams per mile (lower grams per mile reflects improvement) |326 |329 |318 |315 or less | |Innovation |U.S. Utility Patents Issued to Ford and Subsidiaries |325 |430 |444 |450 | | Learning Growth Objectives |Metric |2009 |2010 |2011 |Target | |Employee Satisfaction |Pulse survey, overall,Show MoreRelatedTesla Analysis1467 Words   |  6 PagesExecutive Brief for Tesla Motors Inc. To: Elon Musk, CEO of Tesla Motors, Inc. From: Yuan Gao (kiki) Re: Strategic Improvements for Current Situation Date: 5th Aug, 2012 Executive Summary Tesla Motors is a relatively new Silicon-Valley based company that designs and produces electronic vehicles. The company aims at producing consumer affordable price electronic automobiles with zero emissions in the next decade. Currently the CEO Musk is working on introducing the new electronicRead MoreCatalytic2759 Words   |  12 PagesCatalytic Solutions, Inc. Company History Catalytic Solutions, Inc. (CSI) was founded in Santa Barbara, California, in 1996 by Steve Golden and Bill Anderson. Being a young company, CSI is still in a â€Å"pre-profit† stage of operation that is why its performance measurement and incentive systems are primarily based on nonfinancial. For the first few years, CSI had developed innovative catalytic converters to the automobile market, which are used to reduce the pollution caused by combustionRead MoreFord Motor Case Study5714 Words   |  23 Pages– financial institute to achieve strategic success. Ford Motor Company has in recent times lost its market share to emerging Asian companies such as Honda, Toyota, Hyundai and Nissan. As a new landscape of economic might surfaces, new car stereotypes are emerging. Finding a place in these segments is proving difficult for Ford Motors and hence need to change its strategies. Hyper-competition combined with tough economic times has pushed Ford to the edge of insolvency. 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A licence and a Joint Venture agreement was signed between Government of India and Suzuki Motor Company (now Suzuki Motor Corporation of

Letter to Client Advising on the Tax Impact of Sale of Property by Installments Free Essays

I would like to bring to your attention the tax ramifications of your expressed consideration to sell your estate to us. But before I can do that, I consider it very essential for you to understand how ABC Trusts work. This will require initial knowledge of how the more common AB Trusts work. We will write a custom essay sample on Letter to Client Advising on the Tax Impact of Sale of Property by Installments or any similar topic only for you Order Now AB Trust: An AB Trust offers creditor, lawsuit, divorce and bankruptcy protection for the surviving spouse in addition to similar protection for ones heirs when they take charge of their inheritances. The death of the first spouse makes the Living Trust be divided into two distinct Trusts. Trust A is held in the name of the living spouse while trust be is in the name of the deceased spouse. Both the two trusts are meant to be for the benefit of the surviving as long as they are alive, but in the end the assets will go to the spouses’ heirs. The surviving spouse, to a pre-agreed and stipulated level, controls Trust B though it belongs to the beneficiaries named in the Trust. All the assets and properties in Trust B pass to the originally stated beneficiaries upon the death of the surving spouse. The properties and assets in Trust B are considered not to be the surving spouse’s property and for that reason they are usually not subject to tax. ABC Trust: An ABC Trust has clauses that direct the trustee the revocable Living Trust, upon the occurrence of the first spouse’s death, to divide the Trust into three distinct and separate Trusts as opposed to two in an AB Trust. This has the effect of providing a even greater protection from creditors for the living spouse. Just as is the case with AB Trust, the A Trust is a revocable Living Trust for the living spouse. The Band C Trusts are irrevocable and are usually meant to benefit the surviving spouse while they are alive, but the assets in both Trusts eventually transfer to the deceased’s heirs on passing on of the surving spouse. Currently, $3. 5 million is the tax exempt amount per individual and $7million for a couple. Trust C holds any overflow over and above the $7million for couples, and this is contrary to AB Trust where the overflows of Income go to Trust A. This extends the creditor, bankruptcy, divorce and lawsuit protection to the surviving spouse in addition to the same protection offered to heirs, if they wish so. Taxation of installment sales In certain situations the installment sale of property method allows a sale of property without requiring the seller to recognize and report gains made on the property until the actual receipt of the payment. The rules that govern installment sales are well laid down. In addition the gain deferral achieved though installment sale treatment, in particular circumstances, and enables the transferor to spread gain over the period of payment of installments depending on the proportion the gross profit on sale carries to the price of the contract. If the seller and the buyer make an agreement to specifically allocate installments, then tax deferrals can be maximized. The rule for eligibility for installment sale treatment, the seller must receive not less than one payment after the end of year of tax in which the sale occurs . However, there are a number of ineligible transactions, which include among others transactions where the overall sale results into a loss and where transaction involves sale of inventory. Generally speaking, the Taxpayer Relief Act of 1997 (TRA ’97) had the impact of reducing the maximum capital gains rate to twenty per cent. However, some other changes have been made to the taxation of gains on depreciable real property. Complexities have often arose in administration of these new provisions to depreciable real estate sold subject. This however is of little concern for you because your property is non-depreciable. Considering the facts regarding the matter as laid down above, I am pleased to inform you that your effort of reducing the amount of tax that would be due as gain on sale is likely to succeed because the sale will be done at market value thus no losses shall be realized on the sale, in addition to the fact that the property is not an inventory. Furthermore, the tax will de deferred to the beneficiaries of your estate and thus will likely be spread and shared among several beneficiaries and thus the tax burden will be spread among several shoulders as well. The fact that your estate is held in an ABC Trust is even good news because the level of protection provided to the estate, as well as the beneficiaries if they so wish, against lawsuits and creditors after the grantor passes is significantly high. I therefore strongly recommend that you go ahead with the sale as you stand to gain a lot in from such a sale. How to cite Letter to Client Advising on the Tax Impact of Sale of Property by Installments, Papers

Letter to Client Advising on the Tax Impact of Sale of Property by Installments Free Essays

I would like to bring to your attention the tax ramifications of your expressed consideration to sell your estate to us. But before I can do that, I consider it very essential for you to understand how ABC Trusts work. This will require initial knowledge of how the more common AB Trusts work. We will write a custom essay sample on Letter to Client Advising on the Tax Impact of Sale of Property by Installments or any similar topic only for you Order Now AB Trust: An AB Trust offers creditor, lawsuit, divorce and bankruptcy protection for the surviving spouse in addition to similar protection for ones heirs when they take charge of their inheritances. The death of the first spouse makes the Living Trust be divided into two distinct Trusts. Trust A is held in the name of the living spouse while trust be is in the name of the deceased spouse. Both the two trusts are meant to be for the benefit of the surviving as long as they are alive, but in the end the assets will go to the spouses’ heirs. The surviving spouse, to a pre-agreed and stipulated level, controls Trust B though it belongs to the beneficiaries named in the Trust. All the assets and properties in Trust B pass to the originally stated beneficiaries upon the death of the surving spouse. The properties and assets in Trust B are considered not to be the surving spouse’s property and for that reason they are usually not subject to tax. ABC Trust: An ABC Trust has clauses that direct the trustee the revocable Living Trust, upon the occurrence of the first spouse’s death, to divide the Trust into three distinct and separate Trusts as opposed to two in an AB Trust. This has the effect of providing a even greater protection from creditors for the living spouse. Just as is the case with AB Trust, the A Trust is a revocable Living Trust for the living spouse. The Band C Trusts are irrevocable and are usually meant to benefit the surviving spouse while they are alive, but the assets in both Trusts eventually transfer to the deceased’s heirs on passing on of the surving spouse. Currently, $3. 5 million is the tax exempt amount per individual and $7million for a couple. Trust C holds any overflow over and above the $7million for couples, and this is contrary to AB Trust where the overflows of Income go to Trust A. This extends the creditor, bankruptcy, divorce and lawsuit protection to the surviving spouse in addition to the same protection offered to heirs, if they wish so. Taxation of installment sales In certain situations the installment sale of property method allows a sale of property without requiring the seller to recognize and report gains made on the property until the actual receipt of the payment. The rules that govern installment sales are well laid down. In addition the gain deferral achieved though installment sale treatment, in particular circumstances, and enables the transferor to spread gain over the period of payment of installments depending on the proportion the gross profit on sale carries to the price of the contract. If the seller and the buyer make an agreement to specifically allocate installments, then tax deferrals can be maximized. The rule for eligibility for installment sale treatment, the seller must receive not less than one payment after the end of year of tax in which the sale occurs . However, there are a number of ineligible transactions, which include among others transactions where the overall sale results into a loss and where transaction involves sale of inventory. Generally speaking, the Taxpayer Relief Act of 1997 (TRA ’97) had the impact of reducing the maximum capital gains rate to twenty per cent. However, some other changes have been made to the taxation of gains on depreciable real property. Complexities have often arose in administration of these new provisions to depreciable real estate sold subject. This however is of little concern for you because your property is non-depreciable. Considering the facts regarding the matter as laid down above, I am pleased to inform you that your effort of reducing the amount of tax that would be due as gain on sale is likely to succeed because the sale will be done at market value thus no losses shall be realized on the sale, in addition to the fact that the property is not an inventory. Furthermore, the tax will de deferred to the beneficiaries of your estate and thus will likely be spread and shared among several beneficiaries and thus the tax burden will be spread among several shoulders as well. The fact that your estate is held in an ABC Trust is even good news because the level of protection provided to the estate, as well as the beneficiaries if they so wish, against lawsuits and creditors after the grantor passes is significantly high. I therefore strongly recommend that you go ahead with the sale as you stand to gain a lot in from such a sale. How to cite Letter to Client Advising on the Tax Impact of Sale of Property by Installments, Papers