tax essential for all of us

Q: What are the classifications of individual taxpayers?

A: An entity that is required to pay taxes to state, federal or government municipal body is known as a…

Q: discuss eac

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

Q: 3. Identify the tax policy that you believe is the most important in today's society.

A: The tax policy which is most important in today's society is the equitable distribution of taxthe…

Q: A progressive tax system encourages individuals to work harder.Is it true or false? and why?

A: Progressive tax system is the system under which a lower rate of tax is imposed on an individual…

Q: how is the US income tax system unique?  Do you think it is good for tax payers?

A: The US Income Tax system is a robuts and strong system and the federal income tax is the largest…

Q: report expenses using correct tax categories because

A: The accountants have to report expenses under correct categories always.

Q: Why is the Donor's tax is the advantageous for the taxpayer? Explain

A: Donar's tax refers to the tax on a donation or gift. It is imposed on the gratuitous transfer of…

Q: Can you give me an idea of how taxation is important in our lives?

A: Taxation is the process through which a government imposes a financial restriction or liability on…

Q: tax-exempt corporations

A: Tax-exempt status is given to the nonprofit corporation in order to exempt them from paying income…

Q: What is Professional Tax and give examples?

A: A tax is a financial charge imposed by government. It is a source of income for the governments to…

Q: what are the characteristics of a good tax system?

A: Tax system is designed by the government of every country which is imposed on the individual’s…

Q: II. How Sin taxes help the health of the people?

A: II.  Sin tax are imposed on the goods which are harmful for health ( such as alcohol, tobacco etc. )…

Q: What are the principles of a sound tax system? Briefly explain each

A: Introduction:- The tax system is described as a legally controlled system of public relations based…

Q: Corporations are subject to specific corporate tax rates different from those for individuals.  True…

A: Change in tax rate Change in tax rate is a usual practice in corporate world. When the change in tax…

Q: 1) Class, what are transfer taxes? What is the purpose? When and how might they apply? 2) Share…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: What are the Sources of Tax Laws?

A: Tax: It is a mandatory fee levied by the government on the individual and organization.

Q: 1. What is Donors Tax and give examples?

A: The Donor's Tax seems to be a tax on a donation or maybe even a gift that is levied on the…

Q: What are the determinants of Tax Revenue? Show how you can improve Tax Revenue.

A: Tax revenue is the revenue for the governmental authorities when income earners pay taxes as per the…

Q: How much is the income tax due under CREATE Law if the taxpayer is a domestic corporation?

A: Under CREATE Law if the taxpayer is a domestic corporation the tax rate will be 25% for large…

Q: what is Tax Avoidance and Tax Evasion?

A: Tax avoidance refers to the use of legal means to avoid paying tax. Individual taxpayers and…

Q: How do you identify the similarities and difference between the corporate income tax formula and…

A: Corporate income tax: It is a tax levied on a corporation's earnings that is known as corporate…

Q: Is the corporate tax schedule progressive? Why or why not?

A: A tax schedule can either regressive or progressive. It depends upon how the scehdule has been…

Q: The government should tax itself? Yes or no

A: A tax is a sum of money that is must be paid to the government in order for it to provide public…

Q: can you Discuss in 400 words , the features of Direct & Indirect Taxation ?

A: Direct tax : Direct tax is tax which  is directly levied on the the income or property. Income tax…

Q: What are the tax implications of Social Security? Is it taxable at the Federal Level?, the State…

A: If you have other substantial income in addition to socoal security  benefits, then you have to pay…

Q: Can you explain the benefit principle and ability to pay approach with regard to tax equity. Which…

A: Benefit principal theory of taxation - In this theory citizens of a country are asked to pay tax…

Q: Do you think

A: these are the following drawbacks of property taxes: Lower incentive to buy a home High property…

Q: Federal income taxes have a significant effect on businesses and investors, and affect the personal…

A: As in the given case if the situation of individual and corporation has been reached to 37% many of…

Q: Distinguish between Tax Exemption and Tax Amnesty?

A:

Q: Is the local property tax a regressive tax, or a progressive tax?

A: Progressive Taxes: Taxes that require high income groups to pay a larger percentage of income in…

Q: Why every person needs tax planning?

A: Tax planning is something by which an individual or any entity can plan out on how much tax it can…

Q: The current federal income tax structure is progressive in nature. First, explain what that means.…

A: Current -Federal tax structure- Progressive Federal Income tax structure is progressive in nature…

Q: Basic community tax is an example of while income tax is a kind of O Privilege tax; capitation tax…

A: Basic community tax is an example of Privilege tax while income tax is a kind of Capitation tax.

Q: Are progressive taxes the most equitable for all people?

A: Tax structure is based on how income of individual must be taxed. It could be based on certain slab…

Q: Explain the following statement: Our tax rates are progressive.

A: Tax is imposed by government on an entity (tax payer) in order to raise fund for the public…

Q: What is Community Tax and its examples?

A: Solution-        Community Tax is a Chicago-based full-service tax company that focuses on serving…

Q: ous for the taxpayer? Explain

A: Meaning of Income Taxes Income taxes are the taxes which are paid on the income of an individual.…

Q: Explain what is meant by this statement: “Our tax rates areprogressive.”

A: Tax is the amount levied by the government from the taxpayer on their net taxable income. Net…

Q: Does the concept of a progressive (and fair) tax system become undermined by the ability to tweak…

A: Progressive tax system The concept of progressive tax system is simple to collect more taxes from…