Friday, January 24, 2020
1031 Exchanges Essay -- essays research papers
Final Paper â€Å"1031 Exchanges – Insight for the real estate investor†This paper is written to provide a reasonably comprehensive overview of Section 1031 of the IRC as it pertains to real estate transactions, and to offer some thoughts on the wealth-creation advantages that 1031 Exchanges offer. For the greater part of the last decade, we in the United States have been witness to a consistently appreciating real estate market. Sometimes it seems that almost anyone who has purchased a house, piece of property, or other real estate type investment has done very well. I personally can point to a few examples where friends of mine have made several hundred times their first home equity investment. In sales of primary homes there is a tax advantage that the IRS permits, as long as the proceeds are invested into another home, the capital gains on your existing home sale are exempt from taxation. However, if the property in question is an investment, a capital gain tax is assessed every time there is a sale that includes a gain. A tax strategy that investors can employ in such situations is to transfer their investment property for another investment of â€Å"like-kind†, this is a Section 1031 Exchange. Under Section 1031, if all its guidelines are met, the exchange is not a taxable event. Also, similar to tax rules regarding reorganizations - in a 1031 Exchange there is no taxable event and therefore no step-up in basis. The wealth-creation advantage of a 1031 Exchange can be viewed in the chart below. The example depicts two sales of real estate, the initial assumption is that the property has been completely depreciated and the entire $100K of initial equity is a capital gain.      Event 1          Event 2      Typical Sale     1031 Exchange     Investment experiences 20% appreciation     Typical Sale     1031 Exchange Equity      100,000     100,000          160,000     200,000 Tax     20,000     0          16,000     0... ...y within the United States and personal property used predominantly outside the United States are not property of a like kind. (B) Predominant use Except as provided in subparagraph [1] (C) and (D), the predominant use of any property shall be determined based on (i) in the case of the property relinquished in the exchange, the 2-year period ending on the date of such relinquishment, and (ii) in the case of the property acquired in the exchange, the 2-year period beginning on the date of such acquisition. (C) Property held for less than 2 years Except in the case of an exchange which is part of a transaction (or series of transactions) structured to avoid the purposes of this subsection (i) only the periods the property was held by the person relinquishing the property (or any related person) shall be taken into account under subparagraph (B)(i), and (ii) only the periods the property was held by the person acquiring the property (or any related person) shall be taken into account under subparagraph (B)(ii). (D) Special rule for certain property Property described in any subparagraph of section 168 (g)(4) shall be treated as used predominantly in the United States.
Thursday, January 16, 2020
Impossibility of Certainty in Hamlet
The Impossibility of Certainty in Hamlet â€Å"Doubt is that state of mind where the questioner faces no single answer nor the lack of one, but rather a choice between a pair of alternatives. †– Harry Levin in The Question of Hamlet It is appropriate that William Shakespeare’s Hamlet is regarded as the Bard’s greatest dramatic enigma, for misunderstanding is the unavoidable condition of Hamlet’s quest for certainties. Not only is Hamlet bewildered by puzzling visions and by commands seemingly incapable of fulfillment, but he is also the victim of misinterpretation by those around him.The dying Hamlet urges the honest Horatio to â€Å"report me and my cause aright To the unsatisfied†, because none of the characters except for Horatio have caught more than a glimpse of Hamlet’s true situation (V. ii. 371-372). We as an observing audience, hearing the inner thoughts and secret plots of almost every significant character, should remember that we know vastly more than the play’s characters. In Hamlet, we cannot pretend that we are unaware of what happens next or how it all comes out essay writer prank. This is Shakespeare’s richest source of dramatic irony.However, the characters are faced with rival options: to revenge or not to revenge, whether a Ghost comes from heaven or from hell. It is this doubt, this hesitancy in the face of two possibilities, that is central to Hamlet at every level. Hamlet is a play of misunderstanding and impediment. Its central theme is the elusiveness of knowledge and certainty. From the very first scene, the play establishes uncertainty through the interrogative dialogue between Barnado, Francisco, Marcellus, and Horatio: Barnardo: Who’s there? Francisco: Nay, answer me. Stand and unfold yourself Barnardo: Say, what, is Horatio there? Horatio: A piece of him. (I. i. 1-24) Having established a mood of fear and uncertainty, the apparition of the Ghost causes Horati o to declare â€Å"It harrows me with fear and wonder†(I. i. 51). This antithetical placement of words heightens the paranormal and eerie setting of the play. The â€Å"portentous†Ghost acts as an omen for what is to come (I. i. 121). The seemingly extravagant monologue where Claudius appeals to his subjects to accept the validity of his marriage to Gertrude hints that the new King is putting on a facade. Read more about Dramatic CriticismClaudius uses many oxymoronic phrases to try and reconcile the death of Old Hamlet and Claudius’ subsequent marriage to Gertrude such as, â€Å"With mirth in funeral and with dirge in marriage†(I. ii. 12). This rhythmically balanced but significantly dissonant sentence serves to highlight that there is something suspect and â€Å"Rotten†in the state of Denmark. Claudius further enforces the idea that nothing can really be trusted. Similarly, the relationship between the actions and internal thought processes of human beings is evident in the scheming Polonius.Polonius is also a man with little integrity capable of great deceit. He tells his son Laertes, â€Å"To thine own self be true†(I. iii. 84). But later Polonius enlists Reynaldo to spy on his son, stating, â€Å"Your bait of falsehood take this Carp of truth†(II. i. 70). This metaphor and the oxymoronic placement of â€Å"falsehood†and â€Å"truthà ¢â‚¬ exemplify the presence of duality in the play. He dismisses Reynaldo saying, â€Å"You have me, Have you not? †(II. i. 75). The uncertainty and lack of trust within the play is reflected in the chiastic syntax of this sentence.Polonius is distrusting of his own servant. The allusions to ancient Greece and Rome throughout Hamlet further support the ideas of duality and deception. Hamlet, in a simile, compares his father to Claudius like â€Å"Hyperion to a Satyr†(I. ii. 144). Hamlet later has the Players recite lines referring to the â€Å"ominous horse†of Troy (II. ii. 479). Polonius makes a reference to Brutus’ betrayal of Julius Caesar (III. ii. 109-110). All three of these references contribute to the duality and deception evident in the play.A Satyr is only half a man, the Trojan horse is heralded as one of the most treacherous and deceitful means of conquest, and Julius Caesar is murdered by people he thought were loyal to him. David Beving ton notes in his commentary on Hamlet that the name Claudius stems from two words. The first is the verb claudo, meaning â€Å"to imprison†. The second is the adjective claudus, meaning â€Å"disabled, wavering, or uncertain†(Bevington). It goes without saying that a character whose name literally means â€Å"uncertain†highlights the theme of doubt that is apparent through the whole play.The arrival of the Players and their presentation of â€Å"The Murder of Gonzago†in Act 3 also demonstrate duplicity within the text. Hamlet modifies the play within a play to have it reflect the murder of his father. This dramatic device conjures up the notion of appearance versus reality. The duality of Claudius, Polonius, and Hamlet demonstrate the lack of certainty and absolute truth within the play. The perpetual search for meaning and questioning of the established order within the play reflects the unattainability of truth and certainty in greater society.Hamlet ’s numerous soliloquies of self-questioning and self-loathing paint an image of a man overcome by excruciating self-observation. Morris Weitz notes that Hamlet’s speeches show signs of existentialism (â€Å"How weary, stale, flat and unprofitable seem to me all the uses of this world†, I. ii. 137-138), relativism (â€Å"For there is nothing good nor but, but thinking makes it so†, I. ii. 268-270), and moral subjectivism (â€Å"Vicious mole of nature†¦in their birth†¦wherin†¦they are not guilty since nature cannot choose his origin†, I. iv. 27-29).Although the Greek Sophists had dabbled in these concepts, and Socrates had once said, â€Å"The only thing I know is that I know nothing†, this questioning of the societal and philosophical norms of the time was revolutionary and unparalleled (Weitz). The King at the time of Hamlet’s publication was James I, who had affirmed the â€Å"Divine Right of Kings†to rule. At a time when the sovereignty of the Monarchy reigned supreme, Hamlet’s questioning of the afterlife, (â€Å"To be, or not to be†¦what dreams may come†, III. i. 64-74), lamentation at the inequality n the world (â€Å"Th’ Oppressor†¦that patient merit of the unworthy takes†, III. i. 79-82), and rejection of the superiority of Monarchs (â€Å"Our monarchs and outstretched heroes the beggars’ shadows†, II. ii. 282-283), is a testament to the elusiveness of certainty and truth in the play. The themes of duality and deceit and the search for meaning and order are central to the essential message of Hamlet that certainty is unattainable. This duality makes up the entire structure of Hamlet, proving that, â€Å"A double blessing [truly] is a double grace†(I. iii. 58). Works Cited Bevington, David M. Introduction.Twentieth Century Interpretations of Hamlet ; a Collection of Critical Essays. Englewood Cliffs, NJ: Prentice-Hall, 1968. 1-12. Print. Levin, Harry. â€Å"Interrogation, Doubt, Irony: Thesis, Antithesis, Synthesis. †The Question of Hamlet. New York: Oxford UP, 1959. 48+. Print. Weitz, Morris. Introduction. Hamlet and the Philosophy of Literary Criticism. Chicago: University of Chicago, 1964. Vii-Xiii. Print. Bibliography Bevington, David M. Introduction. Twentieth Century Interpretations of Hamlet ; a Collection of Critical Essays. Englewood Cliffs, NJ: Prentice-Hall, 1968. 1-12. Print. Levin, Harry. Interrogation, Doubt, Irony: Thesis, Antithesis, Synthesis. †The Question of Hamlet. New York: Oxford UP, 1959. 48+. Print. Weitz, Morris. â€Å"Hamlet: Philosophy the Intruder. †Shakespeare, Philosophy, and Literature: Essays. Ed. Morris Weitz and Margaret Collins. New Studies in Aesthetics 10. New York: Lang, 1995. 17-33 Weitz, Morris. Introduction. Hamlet and the Philosophy of Literary Criticism. Chicago: University of Chicago, 1964. Vii-Xiii. Print. West, Rebecca. â€Å"A Court and World Infected by the Disease of Corruption. †Readings on Hamlet. By Don Nardo. San Diego, CA: Greenhaven, 1999. 106-11. Print.
Wednesday, January 8, 2020
Nautilus Facts
The chambered nautilus (Nautilus pompilius) is a large, mobile cephalopod which is called a living fossil and has been the subject of poetry, artwork, math, and jewelry. They have even inspired the names of submarines and exercise equipment. These animals have been around for about 500 million yearsâ€â€even before the dinosaurs. Fast Facts: Chambered Nautilus Scientific Name: Nautilus pompiliusCommon Name: Chambered nautilusBasic Animal Group: InvertebrateSize: 8–10 inches in diameterWeight: Maximum of 2.8 poundsLifespan: 15–20 yearsDiet: CarnivoreHabitat: Oceans in the Indo-Pacific regionConservation Status: Not Evaluated Description Nautiluses are invertebrates, cephalopods, and mollusks related to octopus, cuttlefish, and squid. Of all the cephalopods, nautiluses are the only animal to have a visible shell. The shell is not only beautiful, but it also provides protection. The nautilus can withdraw into the shell and seal it closed with a fleshy trapdoor called a hood. Nautilus shells can reach up to 8–10 inches in diameter. They are white on the underside with brown stripes on its upper side. This coloration helps the nautilus blend into its surroundings. The shell of an adult nautilus contains over 30 chambers which form as the nautilus grows, following a genetically-hardwired shape known as a logarithmic spiral. The nautiluss soft body is located in the largest, outermost chamber; the remainder of the chambers are ballast tanks that help the nautilus maintain buoyancy. When a nautilus approaches the surface, its chambers fill with gas. A duct called the siphuncle connects the chambers so that, when necessary, the nautilus can flood the chambers with water to make itself sink again. This water enters the mantle cavity and is expelled through a siphon. Chambered nautiluses have many more tentacles than their squid, octopus and cuttlefish relatives. They have about 90 thin tentacles, which do not have suckers. Squid and cuttlefish have two and octopus have none. Geoff Brightling/Dorling Kindersley/Getty Images Species These several species are in the Nautilidae family, including five species in the genus Nautilus (Nautilus belauensis, N. macromphalus, N. pompilius, N. repertus, and N. stenomphelus) and two species in the genus Allonautilus (Allonautilus perforatus and A. scrobiculatus). The largest of the species is N. repertus (the emperor nautilus), with a shell measuring from 8 to 10 inches in diameter and soft body parts weighing nearly 2.8 pounds. The smallest is the bellybutton nautilus (N. macromphalus), which only grows 6–7 inches. ​ Allonautilus was recently re-discovered in the South Pacific after thought extinct for some 30 years. These animals have a distinctive, fuzzy-looking shell. Habitat and Distribution Nautilus pompilius is only found in the dimly lit tropical and warm temperate waters of the Indo-Pacific region in southeast Asia and Australia. It is the most widespread of any of the nautiluses and like most of the species, it spends most of the day at depths up to 2,300 feet. At night it migrates slowly up the coral reef slopes to forage for food at about 250 feet deep. Diet and Behavior Nautiluses are primarily scavengers of dead crustaceans, fish, and other organisms, even other nautiluses. However, they do prey on (living) hermit crabs and dig in the soft sediments of the sea floor for small prey pieces. Nautiluses have poor vision with two large but primitive pinhole eyes. Under each eye is a fleshy papilla about a tenth of an inch long called a rhinophore that the nautilus uses to detect its prey. When a dead fish or crustacean is detected by the nautilus, it extends its thin tentacles and swims towards the prey. The nautilus grips the prey with its tentacles and then rips it into shreds with their beak before passing it to the radula. A nautilus moves by jet propulsion. Water enters the mantle cavity and is forced out the siphon to propel the nautilus backward, forward, or sideways. Reproduction and Offspring With a lifespan of 15–20 years, nautiluses are the longest-living cephalopods. They take from10 to more than 15 years to become sexually mature. Nautiluses must move into warmer tropical waters to mate, and then they mate sexually when the male transfers his sperm packet to the female using a modified tentacle called a spadix. The female produces between 10 and 20 eggs each year, laying them one at a time, a process that may last throughout the year. It can take up to a year for the eggs to hatch. Richard Merritt FRPS/Moment/Getty Images Evolutionary History Long before dinosaurs roamed the Earth, giant cephalopods swam in the sea. The nautilus is the oldest cephalopod ancestor. It hasnt changed much over the last 500 million years, hence the name living fossil. At first, prehistoric nautiloids had straight shells, but these evolved into a coiled shape. Prehistoric nautiluses had shells up to 10 feet in size. They dominated the seas, as fish hadnt yet evolved to compete with them for prey. The nautiluss main prey was likely a type of arthropod called the trilobite. Threats None of the nautiluses are listed as threatened or endangered by the International Union for Conservation of Nature (IUCN). However, ongoing threats to nautiluses are recognized, including over-harvesting, habitat loss, and climate change. One climate change-related issue is ocean acidification, which affects the nautiluss ability to build its calcium carbonate-based shell. Nautilus populations in some areas (such as in the Philippines) are declining due to over-fishing. Nautiluses are caught in baited traps to be sold as live specimens, meat, and shells. Shells are used to make handicrafts, buttons, and jewelry, while the meat is consumed and live animals are collected for aquariums and scientific research. According to the U.S. Fish and Wildlife Service, more than half a million nautiluses were imported into the U.S. from 2005–2008. Intensive nautilus fisheries are short-lived and devastating to local populations. Within about a decade or two, the locations become commercially nonviable. Nautiluses are especially vulnerable to over-fishing due to their slow development and reproduction rates. Populations also seem to be isolated, with little gene flow between populations and less able to recover from a loss. Although the IUCN has not yet reviewed nautilus for inclusion on the Red List due to lack of data, in January 2017, the entire family of chambered nautiluses (Nautilidae) was listed in the U.S. CITES Appendix II. This means that CITES documentation will be required for import and re-export of these species and items made from them. Saving the Nautilus To help nautiluses, you can support nautilus research and avoid purchasing products made of a nautilus shell. These include the shells themselves as well as pearls and other jewelry made from the nacre from the nautiluss shell. Westend61/Westend61/Getty Images Sources Aquarium of the Pacific. Chambered Nautilus.Barord, Gregory J., et al. Comparative Population Assessments of Nautilus Sp. In the Philippines, Australia, Fiji, and American Samoa Using Baited Remote Underwater Video Systems. PLOS One 9.6 (2014): e100799. Print.Broad, William J. Loving the Chambered Nautilus to Death. The New York Times, October 24, 2011.Chambered nautilus. U.S. Fish and Wildlife Service International Affairs, 2017. Daw, Adam and Gregory J. Barord. Aquarium Science: Husbandry of the Nautilus: Aspects of its Biology, Behavior, and Care. Tropical Fish Hobbyist Magazine, 2007. Dunstan, Andrew J., Peter D. Ward, and N. Justin Marshall. Vertical Distribution and Migration Patterns of Nautilus Pompilius. PLOS One 6.2 (2011): e16311. Print.Jereb, P., and C. F. E. Robert, eds. Cephalopods of the World: An Annotated and Illustrated Catalogue of Cephalopod Species Known to Date. Vol. 1: Chambered nautiluses and sepioids (Nautilidae, Sepiidae, Sepiolidae, Sepiadariidae, Idiosepiidae and Spirulidae). Rome: Istituto Centrale per la Ricerca Scientifica e Tecnologica Applicata al Mare, 2005. Platt, John R. Should We Stop Selling Nautilus Shells? Scientific American, June 12, 2014.Urton, James. Rare nautilus sighted for the first time in three decades. UW News, University of Washington, August 25, 2015.
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