IMG_20230905_191206

the form 1099 r evonne recieved has a code 4 in box 7 what amount it any will she need to pay as an additional tax on early distrutions

4.

Which of the following statements are NOT correct? i. A registered taxpayer can claim input tax credit for items used for its exempt activities.  ii. A registered taxpayer can claim input tax credit for items used for zero-rated  activities.   iii. The VAT rate Exempt supplies  is 0%. iv. Zero-rated goods or services are taxable for VAT at 0%. Question 6Answer a. i, ii and iv b. i, and iii c. i only d. None of the above

Goda

Which of the folewing tax items is of most value in terms of lax savings to a taxpayer? Choose the correct answer. OA a $500 refundable credit against tax payable O B. a $500 non-capital loss carry forward OC a$500 non-refundable credit against lax payable D. a $500 deduction against net income for tax purposes

Which of the following statements are NOT correct? i. A registered taxpayer can claim input tax credit for items used for its exempt activities.  ii. A registered taxpayer can claim input tax credit for items used for zero-rated  activities.   iii. The VAT rate Exempt supplies  is 0%. iv. Zero-rated goods or services are taxable for VAT at 0%. Question 21Answer a. None of the above b. i, ii and iv c. i only d. i, and iii

1. The Request for Taxpayer Identification Number and Certification is also known as Form _____. Answer:   A.    W-9     B.    W-4     C.    W-2     D.    I-9 2. When the 4th quarter FUTA tax is NOT at least _____, the payment may be mailed at year-end with Form 940. Answer:   A.    $100     B.    $500     C.    $1,000     D.    $5,000 3. The full self-employment tax rate applied to the first $142,800 of earnings is _____. Answer:   A.    2.9%     B.    6.2%     C.    12.4%     D.    15.3%

Answer whether each statement is True or False 1.Amounts withdrawn from deposit accounts of a decedent subjected to the 6% final withholding tax shall be included in the gross estate for estate tax purposes. 2. Transfer taxes provide income to the government. 3. It is possible that a transfer may be inter vivos in form but mortis causa in substance. 4. A power of appointment is the right to designate the person or persons who shall succeed to the property of a prior decedent.  5. A special power of appointment authorizes the donee of the power to appoint only from among a designated class or group of persons other than himself. 6. The donee-decedent of a special power of appointment only holds the property in trust; hence, the property shall form part of the donee-decedent's gross estate. 7. The designation of beneficiary in a life insurance is irrevocable unless expressly stated as revocable. 8. An insolvent person is one whose liabilities exceed his assets. 9. Only the property…