enumerate the classification of income taxpayers and give example on each classification.

Q: discuss eac

A: The three primary sources of tax law are statutory sources, administrative sources, and judicial…

Q: Define Effective tax rate.

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: Discuss the different types of taxpayers.

A: there are different types of taxpayer in the Philippines it often times causes public confusion…

Q: what is tax accounting?

A:

Q: Evaluate the three strategies reducing income, increasing deductions and taking advantage of tax…

A: There are various strategies which the taxpayer can use so that the tax liability can be reduced…

Q: How to calculate capital gain tax

A: Capital gain is one of the income heads under the Income Tax Act. It includes the gains arising to…

Q: Explain and what is the calculation of the following. Total Assessable income Deductions Total…

A: Tax has to be paid by all people and entities whose income or earnings crosses that minimum tax…

Q: what are the two components of income tax expense

A: PLEASE LIKE THE ANSWER  Firstly, income tax expense means an amount of tax expense incurred on the…

Q: Requirements: Discuss final income tax using the names and amounts given.

A: Final income tax is the amount of tax which is charged on the income such as interest income which…

Q: Distinguish the difference between Tax Structure and Tax Rates

A: Meaning of Tax Tax is a source of revenue to the Government. Different types of taxes are paid by…

Q: What is the name of the amount of money that can bededucted directly from the computed tax, instead…

A: Tax or Taxes: Tax is an amount paid by the persons (individuals and business entities) to a…

Q: Income Tax Due

A: To find income tax due on Income we need to prepare Income statement of Mica thok enterprise. Income…

Q: Reproduce the tax formula for indivudal taxpayers in good form and briefly describe each of the…

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: Compute the additional tax due or refund they have when filing their tax return.

A: It has been given in the question that the withholding tax has been $11,000 and there is a gross tax…

Q: What Accounting periods and accounting methods available to individuals for tax purposes?

A: Internal Revenue Service (IRS) advises that each taxpayer (individual) must figure taxable income on…

Q: Discuss the tax treatment for business and investment expenses.

A: Tax treatments usually explain the procedural computation tax liability of an individual by stating…

Q: What are some of the other types of income that must be reported on an taxpayer's tax return? How is…

A: Taxable income is any remuneration received by a person or corporation that is utilized to evaluate…

Q: Explain Pre-tax earnings or pre-tax income

A: The net income is the net profit of the company earned during the period. The net income includes…

Q: HOW filing status affect the preparation income tax return

A: Tax return :- A tax return is a form or series of forms submitted to the Internal Revenue Service…

Q: How is Gross Income defined in the Tax Code and what are the implications to individual and business…

A: Hi, since you have asked multiple questions, we are answering the 1st question for you. To get the…

Q: Discuss the various effects of income taxes on the ability to work, save and invest

A: Income Taxes- Individuals, entities/corporations/firms, and entities/corporations/firms are taxed on…

Q: d. Prepare all journal entries relating to income tax. e. Compute the total income tax expense,…

A: Answer -  Part D -  Journal entries relating to income tax - An S.no Particulars Debit Credit 1…

Q: Which option is the correct definition of tax base? Select one: a. Tax base is the amount the asset…

A: Explanation: Tax Base is defined as the amount that is attributed to an asset or liability for tax…

Q: What is a tax return? brief explain

A: Tax return in a form designed by designated tax authorities which helps taxpayers to disclose their…

Q: What deductions are allowed in computing estate income taxes?

A:

Q: urkey's tax system, make a short description for each type of t

A: Taxes on Turkey's tax system are as follow :- Income Taxes Income taxes in Turkey are levied upon…

Q: Define provision for income taxes.

A: A provision for income taxes is the estimated amount that a business or individual taxpayer expects…

Q: What is the Net Income After Tax?

A:

Q: final tax and income tax

A: Tax is a form of compulsory payment made to the government of the country. The amount that is…

Q: compute the total deductible expenses for purposes of determining che regular income tax due from X,…

A: Tax:- A tax is the compulsory payment which is imposed by the government on income and capital…

Q: What is the total tax expense?

A: Income Before tax is Given. Tax rate will be applied to the Income before tax

Q: o tax? Describe each. Thank you in advance

A: Usually, all incomes and value additions are taxed as income tax. Income tax is a direct tax which…

Q: Reproduce the tax formula include for individual taxpayers in good form and briefly describe each…

A: Tax formula for computation of tax liability differs between individuals and corporations. They have…

Q: What is personal income tax and it's use?

A: Income tax is a type of tax that governments impose on income generated by businesses and…

Q: ages for cost of inve gal business mbling activities

A: Gross Income - It is the total income from all sources i.e. business or services, returns,…

Q: Define the term taxes payable.

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: Discuss the following: a. Differentiation of individual taxpayers b. Classifications of passive…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Assume that Rosanne Madden, CPA, is using 5% of net incomebefore taxes, current assets, or current…

A:

Q: Define income tax expense.

A:

Q: What is intraperiod tax allocation and why is it necessary? How is the income tax expense related to…

A: Income tax seems to be the amount of tax collected by the federal government on the earnings of…

Q: Describe the Economic Service Life with Tax Considerations?

A: Economic service life is the anticipated time over which the average owner will continue to use an…

Q: The general rule in income taxation is   capital gains taxation. regular income taxation fringe…

A: Answer: The income taxation covers many aspect of income sources. It includes salary, capital gains…

Q: What are the special features of regular income taxation?

A: Income Tax It is a tax placed on an individual. It is deducted from a person's total income. It is a…