How do you know which to file in?File a case in state court or federal court....?
You can only file in federal court if you meet certain minimum criteria -- for example, either the lawsuit must involve a federal statute (called ';federal question jurisdiction';), or the person you are suing must be in a different state AND the amount of the lawsuit must be over $75,000 (called ';diversity jurisdiction';).
If you do not qualify under either federal question or diversity jurisdiction, then you must file in state court.
A few issues -- bankruptcy, admiralty, copyright -- can only be filed in federal court, because they are exclusively federal questions.File a case in state court or federal court....?
if its not a big deal than you shouldnt make a federal case out of it
Each one has some areas of law that they are interested in and some that they are not. And there will be a small amount of overlap.
Your attorney will know which court it should be filed in.
What is your lawsuit about? If we knew what it was about, we could tell you which jurisdiction to file it in.
Cory is right about the criteria of where to file - are you a lawyer?
Tuesday, August 24, 2010
Do the federal courts have jurisdiction over the FDA or should the case be tried in state court?
The FDA governs food and drug in all the states so that should definitely be a federal matter I would think. What state would have jurisdiction and why that particular state?Do the federal courts have jurisdiction over the FDA or should the case be tried in state court?
The FDA is a Federal agency and so any trials would have to be in a Federal Court.Do the federal courts have jurisdiction over the FDA or should the case be tried in state court?
No, they don't. It can't be tried in state court either. It is held in a separate tribunal, which is controlled by the FDA. Congress created the FDA with the power to do this, as well as many other agencies.
i'm almost 100% positive that must be tried in the federal courts since the FDA is a federal institution
The FDA is a Federal agency and so any trials would have to be in a Federal Court.Do the federal courts have jurisdiction over the FDA or should the case be tried in state court?
No, they don't. It can't be tried in state court either. It is held in a separate tribunal, which is controlled by the FDA. Congress created the FDA with the power to do this, as well as many other agencies.
i'm almost 100% positive that must be tried in the federal courts since the FDA is a federal institution
How can I find out the details of a case regarding a federal inmate?
Is there a free way, other than asking the inmate himself?And, can I accomplish this online?
If there are no free ways, then I'd be interested in any way that I can find out the details of a case regarding a federal inmate.
I have googled the person's name; I have googled United States v. the person's name; none of that has worked. I have went to www.bop.gov, the federal of prisons website, and all they give is the persons name, and release date (I already know that). I want to know exactly why the person is in federal prison.
I'd appreciate your help.How can I find out the details of a case regarding a federal inmate?
If you can find out which court convicted him, then you should be able to pull the case file at that courthouse. You would just use their computers to search for the name of the person, and all offenses in the last ten years should appear. Click on the one you want, and give the details to the clerk.
You should be able to review the file for free (public record), but if you want copies, you will have to pay for those.
Good luck!How can I find out the details of a case regarding a federal inmate?
if you know what jail he is in you can go to their website (if they have one) and look for a link that will allow you to look up an inmate. for example, the san diego central jail has a site, you click on the link that says who is in jail and type the last name. they will show you the info and you can have a summary of charges emailed to you.
If there are no free ways, then I'd be interested in any way that I can find out the details of a case regarding a federal inmate.
I have googled the person's name; I have googled United States v. the person's name; none of that has worked. I have went to www.bop.gov, the federal of prisons website, and all they give is the persons name, and release date (I already know that). I want to know exactly why the person is in federal prison.
I'd appreciate your help.How can I find out the details of a case regarding a federal inmate?
If you can find out which court convicted him, then you should be able to pull the case file at that courthouse. You would just use their computers to search for the name of the person, and all offenses in the last ten years should appear. Click on the one you want, and give the details to the clerk.
You should be able to review the file for free (public record), but if you want copies, you will have to pay for those.
Good luck!How can I find out the details of a case regarding a federal inmate?
if you know what jail he is in you can go to their website (if they have one) and look for a link that will allow you to look up an inmate. for example, the san diego central jail has a site, you click on the link that says who is in jail and type the last name. they will show you the info and you can have a summary of charges emailed to you.
1 case involving a violation of federal law?
when george w bush was president1 case involving a violation of federal law?
[still chuckling over Richard's answer]1 case involving a violation of federal law?
While George W. Bush was President, Barack Obama ran for election as President. This was a violation of Federal law because Obama ceased to be a US citizen when he was adopted by Leo Soetoro when Obama's mother married him and moved to Indonesia.
edit.... demos is partly right and partly wrong. Being adopted as a minor by a foreign national does deprive you of your US citizenship. You can reclaim that citizenship within five years of turning 18 simply by filing the requisite paperwork. Obama never did so. He returned to the US before he reached 18 on his mothers passport, and simply never bothered.
Why do you think it was a campaign official for the *Democratic* Party in PA that started the whole ';Obama was born in Kenya'; rumor mill, and not a Republican? The answer is simple, since Obama *was* born in Hawaii, they started the whole 'birther' fiasco to draw attention away from the real citizenship question.
Richard
Boumediene v. Bush
Hey Rick, to bad your mom didn't have an abortion. The conservatives wouldn't have had a problem with your mom doing that to you.. Cause the doctors wouldn't have considered you intelligent life....
Actually, adoption by a foreign national does not deprive one of his citizenship. All that is necessary is to reclaim one's citizenship after the age of 18.
There are countless cases involving violations of federal law. Do you want one that specifically involved George W. Bush?
[still chuckling over Richard's answer]1 case involving a violation of federal law?
While George W. Bush was President, Barack Obama ran for election as President. This was a violation of Federal law because Obama ceased to be a US citizen when he was adopted by Leo Soetoro when Obama's mother married him and moved to Indonesia.
edit.... demos is partly right and partly wrong. Being adopted as a minor by a foreign national does deprive you of your US citizenship. You can reclaim that citizenship within five years of turning 18 simply by filing the requisite paperwork. Obama never did so. He returned to the US before he reached 18 on his mothers passport, and simply never bothered.
Why do you think it was a campaign official for the *Democratic* Party in PA that started the whole ';Obama was born in Kenya'; rumor mill, and not a Republican? The answer is simple, since Obama *was* born in Hawaii, they started the whole 'birther' fiasco to draw attention away from the real citizenship question.
Richard
Boumediene v. Bush
Hey Rick, to bad your mom didn't have an abortion. The conservatives wouldn't have had a problem with your mom doing that to you.. Cause the doctors wouldn't have considered you intelligent life....
Actually, adoption by a foreign national does not deprive one of his citizenship. All that is necessary is to reclaim one's citizenship after the age of 18.
There are countless cases involving violations of federal law. Do you want one that specifically involved George W. Bush?
Would it be possible bring a case against the federal government for it's unjust laws against marijuana?
on the grounds that it is a law that was put in place because harry j anslinger spread misinformation to have it banned. presidents such as nixon and george bush waged war on drugs to promote their own political agenda's. making marijuana illegal was a political move to subjugate the ';degenerate races'; (mexicans,blacks,hispanics...) as harry j ';mudslinger'; put it in his propaganda campaign. could it be argued that it was made illegal for racist reasons and since racist acts are illegal, could some very brave lawyer sue the federal government for inciting racism? i know in the real world who ever did this would more than likely be shot or given a jury of idiots and a judge affiliated to the kkk but i'd like to hear a lawyers opinion even if it's all only hypothetical.Would it be possible bring a case against the federal government for it's unjust laws against marijuana?
You can always ';bring a case against the federal government for it's unjust laws against marijuana';.
Expect to pay a large retainer and to lose the case.Would it be possible bring a case against the federal government for it's unjust laws against marijuana?
FREE THE WEED, WE'LL ALL HAVE FREE WEED.FREE THE WEED PLANT A SEED
You can always ';bring a case against the federal government for it's unjust laws against marijuana';.
Expect to pay a large retainer and to lose the case.Would it be possible bring a case against the federal government for it's unjust laws against marijuana?
FREE THE WEED, WE'LL ALL HAVE FREE WEED.FREE THE WEED PLANT A SEED
A state supreme court refused to hear my case how long do I have to file an appeal in federal court.?
Better learn about appeals first. The way in which to seek federal relief is not an ';appeal'; at all. If you want to file a cert. petition in the U.S. Supreme Court, you get 90 days from the denial of the appeal by the state supreme court. If you didn't know enough to be able to look up that info by yourself, there is no way you will be able to file a cert petition that will even get past the clerk's office.A state supreme court refused to hear my case how long do I have to file an appeal in federal court.?
Is there a Federal issue?
Federal courts aren't just ';the next step'; above State courts.
For a Federal court to entertain an appeal of a State conviction, the appeal must raise a bona-fide issue of Federal law.
As an example, to use a famous case.....
In Miranda v Arizona, Miranda was convicted in the Arizona State courts. He appealed all the way to the AZ Supreme Court on the grounds that the confession used to convict him had been improperly obtained. The State courts denied all his appeals.
After exhausting his State appeals, he appealed to the Federal courts, claiming that his rights under the *Federal* Constitution had been violated. The Court took his case, agreed with him, and struck down his conviction. We now have cops all over the country giving ';Miranda'; warnings to those they arrest and question.
If there was no issue of *Federal* law to be argued though, the Federal courts would not have taken his case.
Richardfacial treatment
Is there a Federal issue?
Federal courts aren't just ';the next step'; above State courts.
For a Federal court to entertain an appeal of a State conviction, the appeal must raise a bona-fide issue of Federal law.
As an example, to use a famous case.....
In Miranda v Arizona, Miranda was convicted in the Arizona State courts. He appealed all the way to the AZ Supreme Court on the grounds that the confession used to convict him had been improperly obtained. The State courts denied all his appeals.
After exhausting his State appeals, he appealed to the Federal courts, claiming that his rights under the *Federal* Constitution had been violated. The Court took his case, agreed with him, and struck down his conviction. We now have cops all over the country giving ';Miranda'; warnings to those they arrest and question.
If there was no issue of *Federal* law to be argued though, the Federal courts would not have taken his case.
Richard
Federal judges and justices typically hold office for many years. Why is this the case?
Supreme Court justices, court of appeals judges, and district court judges are nominated by the President and confirmed by the United States Senate, as stated in the Constitution. The names of potential nominees often are recommended by senators or sometimes members of the House who are of the President's political party. The Senate Judiciary Committee typically conducts confirmation hearings for each nominee. Article III of the Constitution states that these judicial officers are appointed for a life term. The federal Judiciary, the Judicial Conference of the United States, and the Administrative Office of the U.S. Courts play no role in the nomination and confirmation process.
Federal judges are usually appointed for life. Why go look for another job when you can't be fired unless you get disbarred?
It is a rare honor to be appointed to such a position, and they want to keep it for as long as they can keep getting up and going to work.Federal judges and justices typically hold office for many years. Why is this the case?
Well, the supreme court is a lifetime position.Federal judges and justices typically hold office for many years. Why is this the case?
Whn the constitution was drafted, they allowed for various terms of office. Representatives serve for 2 years. Presidents for 4, senators for 6 and most federal judges have a lifetime appointment. Each of those folks has different roles and the drafters want the judiciary to be far removed from the politics of the moment, to be pure of thought in deciding questions of law, while representatives are supposed to the most responsive to the will of their constituents.
Judges has no fixed term of office.
So it won't bias their decisions. If they think that deciding a certain way could cost them their job, then they wouldn't be totally free to make unbiased rulings.
Federal judges are usually appointed for life. Why go look for another job when you can't be fired unless you get disbarred?
It is a rare honor to be appointed to such a position, and they want to keep it for as long as they can keep getting up and going to work.Federal judges and justices typically hold office for many years. Why is this the case?
Well, the supreme court is a lifetime position.Federal judges and justices typically hold office for many years. Why is this the case?
Whn the constitution was drafted, they allowed for various terms of office. Representatives serve for 2 years. Presidents for 4, senators for 6 and most federal judges have a lifetime appointment. Each of those folks has different roles and the drafters want the judiciary to be far removed from the politics of the moment, to be pure of thought in deciding questions of law, while representatives are supposed to the most responsive to the will of their constituents.
Judges has no fixed term of office.
So it won't bias their decisions. If they think that deciding a certain way could cost them their job, then they wouldn't be totally free to make unbiased rulings.
ADA Title II Case Law lawsuits where plaintiff is federal courts?
List with text of all casesADA Title II Case Law lawsuits where plaintiff is federal courts?
ADA Title II Case Law lawsuits where plaintiff is federal courts?
the right to bear arms.?
ADA Title II Case Law lawsuits where plaintiff is federal courts?
the right to bear arms.?
The court case that established the supremacy of the federal government over states was?
a. McCulloch vs. Maryland
b. Marbury vs. Madison
c. Gibbons vs. OgdenThe court case that established the supremacy of the federal government over states was?
Marbury v. Madison. But the fact is, the Tenth Amendment was then and has been violated with this ';supremacy.'; The federal jurisdiction was supposed to be limited to those powers granted in the Constitution.The court case that established the supremacy of the federal government over states was?
Probably the single one decision which established the legitimate powers of the federal government as superseding any state statutes is McCulloch v Maryland
Gibbons v. Ogden established the power of Congress to regulate interstate commerce.
Marbury v. Madison esablished the power of The U.S. Supreme Court (and by extension the federal court system) to review statutes. Before that decision, the supreme court did not exercise it's powers over the executive and legislative branches.
All three decisions were made by a supreme court whose chief justice was John Marshall. John Marshall shaped numerous court decisions which cemented the supremacy of federalism over states rights in the early republic.
B--only because I've heard of that one and I think Madison had something to do with the ';Federalist Papers.';
b. Marbury vs. Madison
c. Gibbons vs. OgdenThe court case that established the supremacy of the federal government over states was?
Marbury v. Madison. But the fact is, the Tenth Amendment was then and has been violated with this ';supremacy.'; The federal jurisdiction was supposed to be limited to those powers granted in the Constitution.The court case that established the supremacy of the federal government over states was?
Probably the single one decision which established the legitimate powers of the federal government as superseding any state statutes is McCulloch v Maryland
Gibbons v. Ogden established the power of Congress to regulate interstate commerce.
Marbury v. Madison esablished the power of The U.S. Supreme Court (and by extension the federal court system) to review statutes. Before that decision, the supreme court did not exercise it's powers over the executive and legislative branches.
All three decisions were made by a supreme court whose chief justice was John Marshall. John Marshall shaped numerous court decisions which cemented the supremacy of federalism over states rights in the early republic.
B--only because I've heard of that one and I think Madison had something to do with the ';Federalist Papers.';
Is the main purpose of the Federal reserve Sstem to protect a depositor's money in case of a bank failure.
No, but that is a desired outcome from their primary purpose of providing a ';safer, more flexible'; banking system. (see FR mission statement referenced below)
Protecting a depositors money in case of bank failure would be the main purpose of the FDIC.Is the main purpose of the Federal reserve Sstem to protect a depositor's money in case of a bank failure.
They are there to regulate the flow of money through controlling interest rates. If inflation is high they will raise interest rates to keep up with it, if we are in a recession they will lower rates to jump start the economy.Is the main purpose of the Federal reserve Sstem to protect a depositor's money in case of a bank failure.
No, the main purpose is to provide liquidity to the banking system so that large amounts of money can move thru the banking system to finance the operations of a capitalist economy.
It Is set up as a ';lender of last resort'; for the banks.
Protecting a depositors money in case of bank failure would be the main purpose of the FDIC.Is the main purpose of the Federal reserve Sstem to protect a depositor's money in case of a bank failure.
They are there to regulate the flow of money through controlling interest rates. If inflation is high they will raise interest rates to keep up with it, if we are in a recession they will lower rates to jump start the economy.Is the main purpose of the Federal reserve Sstem to protect a depositor's money in case of a bank failure.
No, the main purpose is to provide liquidity to the banking system so that large amounts of money can move thru the banking system to finance the operations of a capitalist economy.
It Is set up as a ';lender of last resort'; for the banks.
What can I do, to obtain the digital recordings of my federal magistrates court case, (Melbourne)?
For 10 months I've attempted to obtain the digital recordings of my hearing in the Federal magistrates court, where the reasons for judgement where full of fraud.
No lawyer has or is willing to assist me in getting the recordings.
I was self represented during the hearing,( couldn't find a lawyer who'd take my case on).
I have written to every government department concerned and even protested my matter on the city streets.
My 2 children are being kept from me with the judgement made at that hearing.
The proof of this disgracefull act is in the recordings of the case.
This could happen to anyone as it's happened to me and I did nothing except marry someone who has friends in high places.
What about my children who've been traumatised with all this?
Please only helpful answers as this has also effected my health in a big way.What can I do, to obtain the digital recordings of my federal magistrates court case, (Melbourne)?
Try speaking to one of the librarians at the State Library of Victoria who specialise in legal aid. The LIAC (Legal Information Access Centre) librarian will be able to assist you with your search and may be able to identify whether or not this is an impossible request.
No lawyer has or is willing to assist me in getting the recordings.
I was self represented during the hearing,( couldn't find a lawyer who'd take my case on).
I have written to every government department concerned and even protested my matter on the city streets.
My 2 children are being kept from me with the judgement made at that hearing.
The proof of this disgracefull act is in the recordings of the case.
This could happen to anyone as it's happened to me and I did nothing except marry someone who has friends in high places.
What about my children who've been traumatised with all this?
Please only helpful answers as this has also effected my health in a big way.What can I do, to obtain the digital recordings of my federal magistrates court case, (Melbourne)?
Try speaking to one of the librarians at the State Library of Victoria who specialise in legal aid. The LIAC (Legal Information Access Centre) librarian will be able to assist you with your search and may be able to identify whether or not this is an impossible request.
If i sue a WI county if federal court and the case is dismissed how long do I have to sue again in state court
Appeal the case to the higher court usually within 15 days from the date of dismissal.facial treatment
When may a federal court hear a case? (bases of jurisdiction)?
When an offense violates federal statutes or occurs within federal jurisdiction, ie National Parks/Federal property such as VA Centers, etc.
Basis for jurisdiction is federal law or geographic location.
Basis for jurisdiction is federal law or geographic location.
Suppose youre an attorney. in a case youre presenting to a federal court, you argue that the person you are?
defending suffered cruel and unusual punishment. which amendment of the constitutionshould you citeSuppose youre an attorney. in a case youre presenting to a federal court, you argue that the person you are?
the 8th amendment is the amendment dealing with cruel and unusual punishment. If you are arguing in federal court that the state court imposed a cruel and unusual punishment, you will also need to cite the 14th amendment which states that the amendments apply to states as well as the feds.Suppose youre an attorney. in a case youre presenting to a federal court, you argue that the person you are?
The 8th Amendment.
the 8th amendment is the amendment dealing with cruel and unusual punishment. If you are arguing in federal court that the state court imposed a cruel and unusual punishment, you will also need to cite the 14th amendment which states that the amendments apply to states as well as the feds.Suppose youre an attorney. in a case youre presenting to a federal court, you argue that the person you are?
The 8th Amendment.
United States Court Of Federal Claims. (My Case)?
My Court,case is just in the Motions in The United States Court Of Federal Claims,Case- No.09-208.I have charge The United States for 1.Breach of agreement 2.Slander 3.Sexual Harassment 4.Perjury 5.Defamation of Character 6.Conspiracy 7.Fraud/False Statements 8.Wrongful Termination of Employment I have asked for 300,000,000 in damage's./My case started with The E.E.O.C in Washington DC.and they have found The United States. ';Guilty'; of breaching your settlement agreement of 1996. because of this.I went from The E.E.O.C and into United States District Court of New York,State.On 03 November,2008.My Case, was dismissed from U.S.D.C because the Judge,said WRONG COURT! and forward my Case into The United States Court of Federal Claims./The D.C Judge, found The United States ';Guilty';
THE PROBLEM NOW IS. The United States ';The Defendant's'; are making a Court Motion,to have my case dismissed out of Court.
The United States are ';Guilty'; of the agreement etc. and i having all i need, to take my Case in Court with over 1,000.00 documents on this case from 1996.
WTF? The Judge (She) seems to be more for The United States and keeps pissing on my Motions.I feel.My case is going bye-bye real fast
What the very ';Sorry'; reason will The United States have to forward to The Judge.to have my Case dismissed out of court.This Court is Called The Peoples Court but,I starting to feel its Not.United States Court Of Federal Claims. (My Case)?
You have listed the charges, but you have not described the situation, what happened, why you have those charges, what your motions are that are getting denied, etc. In essence, you have provided no information with which we can even attempt to help you.United States Court Of Federal Claims. (My Case)?
Do you have a question? Your inability to communicate may be part of the problem.
Well you have listed a bunch of crap now where are the decisions from the court. Where is your attorney? You sure didn't do a Pro-Se matter here or you would have decision from the court to review.I think you are just seeking attention because most of Whit you wrote here make no clear and concise point on what you have done or what you are trying to do other the venting .Get a hold of your attorney if you have one and if this stuff is even real
THE PROBLEM NOW IS. The United States ';The Defendant's'; are making a Court Motion,to have my case dismissed out of Court.
The United States are ';Guilty'; of the agreement etc. and i having all i need, to take my Case in Court with over 1,000.00 documents on this case from 1996.
WTF? The Judge (She) seems to be more for The United States and keeps pissing on my Motions.I feel.My case is going bye-bye real fast
What the very ';Sorry'; reason will The United States have to forward to The Judge.to have my Case dismissed out of court.This Court is Called The Peoples Court but,I starting to feel its Not.United States Court Of Federal Claims. (My Case)?
You have listed the charges, but you have not described the situation, what happened, why you have those charges, what your motions are that are getting denied, etc. In essence, you have provided no information with which we can even attempt to help you.United States Court Of Federal Claims. (My Case)?
Do you have a question? Your inability to communicate may be part of the problem.
Well you have listed a bunch of crap now where are the decisions from the court. Where is your attorney? You sure didn't do a Pro-Se matter here or you would have decision from the court to review.I think you are just seeking attention because most of Whit you wrote here make no clear and concise point on what you have done or what you are trying to do other the venting .Get a hold of your attorney if you have one and if this stuff is even real
Is it true that a federal lawsuit filed in toledo is challening obamas citizenship case reads US vs B.obama?
There are several such lawsuits. Most have been dismissed but some are not yet ripe for dismissal.
What does ';arising from same set of facts'; in a case means in U. S. Federal Court?
That's a fact specific determination. Here's one way to think about it. If you are telling the story of why there is one particular claim, have you essentially told the story of why there is another claim? If so, it's probably arising from the same set of facts. Note that that's just one way to think of it and won't necessarily always lead to the right conclusion. Also keep in mind that I am not a lawyer yet and this is simply an academic answer to an academic question, not legal advice.
Federal income tax case studying!?
I am studying federal income tax right now and I am an accounting major. Professor gives us case assignment, and I don't know how to figur it out because it's a lot of information involved such as mortgage, municipal bonds, stock, and CD. Professor wants me to look at this case and answer those questions as tax consultant. However, I don't have any idea how to find answer.
Can someone give me advice. Thanks!!Federal income tax case studying!?
Finding and understanding the tax laws well enough to prepare a return is a totally different thing from being a tax consultant. Well, at least it is from where I stand.
This should go without saying...you don't normally want lose money just to save on taxes...there is a bigger picture. However, it might surprise you when you start your practice.
I think that this is the view your professor wants you to answer in...is it better to have a Muni (non-taxable) at a lower rate or a CD (taxable) at a higher rate. And, is it better to invest in other venues rather than paying off the mortgage. Think about it...does it make sense to pay (let's say) 7% on a mortgage while investing in other things with a 3% return? Sometimes it does somtimes it doesn't...you have to run the numbers.
The bottomline is what matters to a tax consultant...so what if you pay more tax as long as you end up with more money in your pocket in the end. That is a tax consultants job...it is a combination of a tax preparer and a financial planner.
It might also be surprising to you the willingness of people to pay interest instead of taxes...even if it costs them more money. And, yes most people if they pay off their mortgage will use that extra money to get in debt again.
EDIT:
Let's start simple...because it is that simple. Tax situations generally only get complex when you make them that way (you will learn this too).
If you are at this level you probably know all the rules you need for this problem, it is simply a matter of applying those rules. The tax laws aren't complex in this problem.
But, if you don't IRS.GOV under forms Pub. 17, everything you will need is right there.
Many people make the process harder than it has to be...it is simple if you do it one step at a time. A lot of math but simple.
1) Calculate the base tax rate. (that is one step at a time too)
2) Then you will need to calculate the actual cost of the loan (interest paid - tax savings from the mortgage interest= actual cost). You will have to use the base tax rate.
3) You will need to calculate the normally tax free income from the Muni and compare it to the actual cost of the loan. Which one is better?
4) And because it is your job...you need to re-calculate the numbers using the higher CD rate (that is taxable) instead of the Muni. Which of these is better?
5) Just because we are gonna be really good...you need to compare the results if he got the mortgage for 6% and paid it on the property that has 10%.
Once these steps are done you will know the following:
1) What happens doing nothing.
2) What happens with a Mortgage and a Muni
3) What happens with a Mortgage and a CD instead of a Muni
4) What happens if he pays off the higher mortgage.
With this information it isn't hard to make a decision.
And as far as I can tell the corporation doesn't come into play except for the base tax rate. That is making the assumption it is a S-Corp not a C-Corp., but it still makes little difference except how to get the money from the corporation to the owner.
See, it isn't that hard if you break it down into smaller task...you are actually doing several returns to get an answer. Consider yourself lucky...I did this back when there were no computer programs to help...just a ten key and a pencil.
I will tell you that there is nothing in the tax codes that will make this easier. And, with experince it gets a lot easier. Most of it is common sense...earn $1000 tax free in a Muni ($25000 @ 4%) or earn $1500 in a CD ($25000@ 6%) taxed at maybe 28% that is $420...which is better? This is where it might make a difference...the rates between the two and the tax rate..
Another example...the differences between the mortgages. REMEMBER it is ALWAYS a percentage...for every deductible dollar you spend you will only get pennies in return on your taxes. There is a twist here too...to get an accurate answer you would have to calculate two amortization schedules...because the rule of 78's applies to almost all loans (meaning most of the interest is paid first). This makes a difference too. Meaning with the new loan you might be paying more actual interest at 6% than you would on an old loan at 10%. (You won't find that in the tax codes either).
You should also know the rule of 72 (investment). Simply stated divide 72 by the compound interest rate and this will tell you how many years (well very close) it will take your money to double (not taking taxation into account). In 1976 I bought a new truck for $3600 cash...let's say I invested that at 6%, I would now have about $14,400 and would have paid tax on $10,800 (rough estimate actually that would be in 2012). Do you think I could buy a new truck for that amount now?
Are you starting to see the forest even though there are trees in the way?
I said all of this in my first answer...this one is just more detailed. Another thing that I think is beyond the scope of the project...as a professional you should also do a comparsion with expect inflation rates.
Hope this helps clear it up even more.Federal income tax case studying!?
All the answers are hidden here:
http://www.irs.gov/
Have Fun - I've been reading those Pubs for 20+ yrs
Let's see mortgages. Use the mortgage publication 936.
Munis, bonds, Cds, use investment publication 550.facial treatment
Can someone give me advice. Thanks!!Federal income tax case studying!?
Finding and understanding the tax laws well enough to prepare a return is a totally different thing from being a tax consultant. Well, at least it is from where I stand.
This should go without saying...you don't normally want lose money just to save on taxes...there is a bigger picture. However, it might surprise you when you start your practice.
I think that this is the view your professor wants you to answer in...is it better to have a Muni (non-taxable) at a lower rate or a CD (taxable) at a higher rate. And, is it better to invest in other venues rather than paying off the mortgage. Think about it...does it make sense to pay (let's say) 7% on a mortgage while investing in other things with a 3% return? Sometimes it does somtimes it doesn't...you have to run the numbers.
The bottomline is what matters to a tax consultant...so what if you pay more tax as long as you end up with more money in your pocket in the end. That is a tax consultants job...it is a combination of a tax preparer and a financial planner.
It might also be surprising to you the willingness of people to pay interest instead of taxes...even if it costs them more money. And, yes most people if they pay off their mortgage will use that extra money to get in debt again.
EDIT:
Let's start simple...because it is that simple. Tax situations generally only get complex when you make them that way (you will learn this too).
If you are at this level you probably know all the rules you need for this problem, it is simply a matter of applying those rules. The tax laws aren't complex in this problem.
But, if you don't IRS.GOV under forms Pub. 17, everything you will need is right there.
Many people make the process harder than it has to be...it is simple if you do it one step at a time. A lot of math but simple.
1) Calculate the base tax rate. (that is one step at a time too)
2) Then you will need to calculate the actual cost of the loan (interest paid - tax savings from the mortgage interest= actual cost). You will have to use the base tax rate.
3) You will need to calculate the normally tax free income from the Muni and compare it to the actual cost of the loan. Which one is better?
4) And because it is your job...you need to re-calculate the numbers using the higher CD rate (that is taxable) instead of the Muni. Which of these is better?
5) Just because we are gonna be really good...you need to compare the results if he got the mortgage for 6% and paid it on the property that has 10%.
Once these steps are done you will know the following:
1) What happens doing nothing.
2) What happens with a Mortgage and a Muni
3) What happens with a Mortgage and a CD instead of a Muni
4) What happens if he pays off the higher mortgage.
With this information it isn't hard to make a decision.
And as far as I can tell the corporation doesn't come into play except for the base tax rate. That is making the assumption it is a S-Corp not a C-Corp., but it still makes little difference except how to get the money from the corporation to the owner.
See, it isn't that hard if you break it down into smaller task...you are actually doing several returns to get an answer. Consider yourself lucky...I did this back when there were no computer programs to help...just a ten key and a pencil.
I will tell you that there is nothing in the tax codes that will make this easier. And, with experince it gets a lot easier. Most of it is common sense...earn $1000 tax free in a Muni ($25000 @ 4%) or earn $1500 in a CD ($25000@ 6%) taxed at maybe 28% that is $420...which is better? This is where it might make a difference...the rates between the two and the tax rate..
Another example...the differences between the mortgages. REMEMBER it is ALWAYS a percentage...for every deductible dollar you spend you will only get pennies in return on your taxes. There is a twist here too...to get an accurate answer you would have to calculate two amortization schedules...because the rule of 78's applies to almost all loans (meaning most of the interest is paid first). This makes a difference too. Meaning with the new loan you might be paying more actual interest at 6% than you would on an old loan at 10%. (You won't find that in the tax codes either).
You should also know the rule of 72 (investment). Simply stated divide 72 by the compound interest rate and this will tell you how many years (well very close) it will take your money to double (not taking taxation into account). In 1976 I bought a new truck for $3600 cash...let's say I invested that at 6%, I would now have about $14,400 and would have paid tax on $10,800 (rough estimate actually that would be in 2012). Do you think I could buy a new truck for that amount now?
Are you starting to see the forest even though there are trees in the way?
I said all of this in my first answer...this one is just more detailed. Another thing that I think is beyond the scope of the project...as a professional you should also do a comparsion with expect inflation rates.
Hope this helps clear it up even more.Federal income tax case studying!?
All the answers are hidden here:
http://www.irs.gov/
Have Fun - I've been reading those Pubs for 20+ yrs
Let's see mortgages. Use the mortgage publication 936.
Munis, bonds, Cds, use investment publication 550.
EEOC Federal vs state case, confused.?
I've had an EEOC case filed for almost 3 yrs now for disability discrimination. They still have not determined whether it will be investigated.
The first investigator assigned just yelled at me and didn't understand anything I was saying.
I complained, and the Acting DIrector called. He listened, but then forgot about me, twice. I couldn't get them to contact me again. I complained to the main office, and the Actg. Director called me again. Now he is so sweet and says I have a good case.
It's a complicated case, but it seems like that is what they do and it wouldn't be so hard for them to comprehend.
We're now down to the final gathering of information, and the EEOC man 'just' realized that I work for the state, and said he only handles Federal cases. After all this time needed to comprehend the facts, he's going to have to turn this over to someone else!
I called a few attys, they said you don't usually get an atty until the EEOC decides whether or not to file. True?EEOC Federal vs state case, confused.?
Typically, discrimination cases require that you file a complaint with the EEOC or its State counterpart as the first step in the process. It sounds like you have taken this step. The agency will decide whether to prosecute the case on your behalf or they will send you a letter authorizing you to bring a lawsuit on your own. Most complaints are not prosecuted. If you have a good case, you would probably be better off just getting the ';right to sue'; letter and proceeding on your own. The investigator sounds like he just does not want to pursue your case. The fact that you are a state employee does not deprive the EEOC of power to act. It may be true that the particular investigator you were assigned is not comfortable with cases involving the State but he/she should have known that the first time he picked up the file.EEOC Federal vs state case, confused.?
The attorney is right, you have to wait and see what EEOC decides first.
The first investigator assigned just yelled at me and didn't understand anything I was saying.
I complained, and the Acting DIrector called. He listened, but then forgot about me, twice. I couldn't get them to contact me again. I complained to the main office, and the Actg. Director called me again. Now he is so sweet and says I have a good case.
It's a complicated case, but it seems like that is what they do and it wouldn't be so hard for them to comprehend.
We're now down to the final gathering of information, and the EEOC man 'just' realized that I work for the state, and said he only handles Federal cases. After all this time needed to comprehend the facts, he's going to have to turn this over to someone else!
I called a few attys, they said you don't usually get an atty until the EEOC decides whether or not to file. True?EEOC Federal vs state case, confused.?
Typically, discrimination cases require that you file a complaint with the EEOC or its State counterpart as the first step in the process. It sounds like you have taken this step. The agency will decide whether to prosecute the case on your behalf or they will send you a letter authorizing you to bring a lawsuit on your own. Most complaints are not prosecuted. If you have a good case, you would probably be better off just getting the ';right to sue'; letter and proceeding on your own. The investigator sounds like he just does not want to pursue your case. The fact that you are a state employee does not deprive the EEOC of power to act. It may be true that the particular investigator you were assigned is not comfortable with cases involving the State but he/she should have known that the first time he picked up the file.EEOC Federal vs state case, confused.?
The attorney is right, you have to wait and see what EEOC decides first.
Federal Roads Aid Case(Victoria v Commonwealth 1926 (HCA))?
What do you think about this case?! Is it causing problems in Australian society?! and how?!Federal Roads Aid Case(Victoria v Commonwealth 1926 (HCA))?
most non-Australians would not be 'up to speed' on 'foreign law' cases---i,might suggest that it would probably be quite a bit more profitable if one would try to search the Internet further for this interesting subjectFederal Roads Aid Case(Victoria v Commonwealth 1926 (HCA))?
You would probably get a better response to your posted question if you posted this in the Australian forum as opposed to this one which is the USA one. (See the tiny flags at the bottom of the webpage? See the Australian flag? Click on that and you can post country specific questions there which will get you a better response...don't you think?)
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Federal Roads Aid Case
(Victoria v Commonwealth 1926 (HCA)
';The High Court confirmed that specific purpose payments from the Commonwealth to the States could be directed to areas of government responsibility that were not included in formal Commonwealth responsibilities.';
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I can see how this would be causing problems in Australian society; seems to me the government has their hands on things they should not.
most non-Australians would not be 'up to speed' on 'foreign law' cases---i,might suggest that it would probably be quite a bit more profitable if one would try to search the Internet further for this interesting subjectFederal Roads Aid Case(Victoria v Commonwealth 1926 (HCA))?
You would probably get a better response to your posted question if you posted this in the Australian forum as opposed to this one which is the USA one. (See the tiny flags at the bottom of the webpage? See the Australian flag? Click on that and you can post country specific questions there which will get you a better response...don't you think?)
---
Federal Roads Aid Case
(Victoria v Commonwealth 1926 (HCA)
';The High Court confirmed that specific purpose payments from the Commonwealth to the States could be directed to areas of government responsibility that were not included in formal Commonwealth responsibilities.';
---
I can see how this would be causing problems in Australian society; seems to me the government has their hands on things they should not.
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