What are taxes?

Q: What effect do permanent differences have on deferred income taxes?

A:

Q: What is meant by a tax shelter?

A: Tax shelter is a provision for tax payer to deduct the taxable income. This provision gives certain…

Q: what is the possible tax implication?

A: Corporate tax rate = 25% Allowable deductions = P150,000 for November Allowable deductions =…

Q: What is taxation?

A: Required  What is taxation?

Q: how does taxes affect Businesses?

A: Taxes According to Tax laws Taxes means the levy of money which was imposed by the government…

Q: Write a short reflection on taxes, who should carry the burden and who benefits from it?

A: Taxes Taxes which are considered to be one of the important source of revenues for the government…

Q: What are the objectives of accounting for income taxes?

A: FASB Summary of Statement No. 109 defines objectives of Accounting for Income Taxes.

Q: How much is the estate tax?

A: Estate Tax- It is the tax imposed on the property transferred upon the death of a person. Under…

Q: How much interest income is subject to final tax?

A: Answer:   Interest income subject to final tax=   1. Interest Income on loans to online sellers =…

Q: What is Income tax payable?

A:

Q: Why do deferred taxes arise

A: The deferred taxes usually arise when there is balance of over or advance payment of taxes to an…

Q: Which of the following is a local tax? *

A: Option a is wrong because value added tax is an indirect tax imposed on the value of goods and…

Q: How do you calculate withholding taxes?

A: Federal income tax withholding:  The amounts which the employer withheld from employees’ gross pay…

Q: What’s the difference between marginal and average tax rates?

A: The taxes are the government source of income from the general public. The tax rate are the…

Q: What are the situs rules on income tax situs on sales of goods?

A: Income tax:A tax charged on the income earned by the individual or corporates by the central…

Q: What is the sales tax? Is it an expense or a liability?

A: Sales tax is the tax on sales which is levied by the government. However, sales tax is an indirect…

Q: Define Accrued income taxes.

A: Income Tax Expenses: The expenses which are related to the taxable income of the individuals and…

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: Why are payroll taxes and sales taxes consideredliabilities?

A:

Q: How is tax accounting different from financial accounting?

A: Accounting: It can be defined as the process of summarizing and recording the company’s financial…

Q: What is Income tax receivables?

A: Other receivables: Other receivables are the receivables other than the accounts receivable, and the…

Q: What is Estate Tax?

A: An estate tax is a financial duty levy on estates whose value surpases an allowed limit set by law.…

Q: What is Output tax

A: In order to generate revenue, the government frequently employs and imposes indirect taxes. They are…

Q: What is the difference between a progressive tax, a proportional tax, and a regressive tax?

A: Tax is an important concept in the area of finance. The United states has three types of taxes…

Q: Average tax rate? (

A: Tax payable is calculated on the income falling within the respective slabs  The formula to…

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: income tax rate would be

A: Net Initial Investments -  Profit and Loss on Sale of Old Press - Book Value is  =     120000 Sale…

Q: AT and its examples?

A: A value-added tax (VAT) could be a consumption tax placed on a product whenever price is else at…

Q: What are estate taxes?

A: Taxes: Taxes are the taxpayer's obligation to pay a certain amount to the tax authority on yearly…

Q: What are the additional income taxes?

A: Income tax: Income tax is a tax levied on an individual’s income (taxable income). It is a direct…

Q: How to calculate Value-added tax

A: Value added tax is a type of tax that is charged by the central government on the sale of…

Q: How are national taxes similar to and/or different from local taxes?

A: National taxes refer to national internal revenue taxes imposed and collected by the national…

Q: Do you thinks taxes are moral? Explain your answers

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: What is the Effect on Deferred Income Taxes?

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

Q: what is an example of value added taxes

A: Value-added tax (VAT) refers to the consumption tax which is imposed on a commodity once the value…

Q: Marco Polo, How much is the total income not subject to tax?

A: Answer: The part of income that are exempted becomes the part of income which are not subject to…

Q: What are capital gains and losses, and how are they taxed?

A: A capital gain is the amount of profit you receive when you sell a capital asset or is realized when…

Q: What is an excise tax and its examples?

A: The company's aim will be to increase the profitability of the company. The profits can be arrived…

Q: What is the general purpose of taxation in our society?

A: Tax is an enforced fee that is charged on individuals and organizations by government or its agency…

Q: le ta

A: A middle tax break may be a reduction of a taxpayer’s total liability. The term is additionally…

Q: What is marginal tax rate?

A:

Q: What are direct taxes?

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: what is the special consumption tax?

A: Consumption can be briefly defined as the spending by individuals and households on final goods and…

Q: In this question the income tax calculated how was it found? what is the transactions? help please

A: As per the information given in the question, The taxable income is 153.000 TL

Q: What is Percentage Tax?

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