Compute the Income Tax due.

Q: Differentiate Tax from Taxation

A: The taxes imposed directly on the income or earnings of the individual are the direct taxes whereas…

Q: determine if it's a tax deductible, tax credit, or neither.

A: TAX DEDUCTION:- It is a provision that reduce the taxable income. An expenses you can Subtracted…

Q: Explain the differences between a tax credit and a tax deduction. Which is better? List three…

A: Tax credit and tax deductions are often considered same but they are not interchangeable even though…

Q: 1. What does self assessment mean?

A: Self assessment refers to the act or the procedure of analysing as well as determining the actions…

Q: Personal income taxes are paid on all of your income. a. true b. false

A: Personal income tax is paid on taxable income of an individual. Taxable income is calculated as…

Q: Income

A: Income tax is a tax that is imposed by the government of all countries. It is generally imposed on…

Q: should social security funded more by raising or eliminating the limit of income taxed. What's…

A: The Social Security Funding Debate: Raising or Eliminating the Tax Cap?The question of how to best…

Q: Basic community tax is an example of _______ while income tax is a kind of _______. A. Poll tax;…

A: Option (b) is correct. National tax ; local tax  As per my knowledge income tax as it being paid  to…

Q: Differentiate between a property tax and transfer tax

A: A property tax is a federal tax levied by the government where such property is situated. A property…

Q: Go to https://taxfoundation.orgLinks to an external site. . Find a current article published in the…

A: Article Summary: "Pillar Two and the Threat to the U.S. Tax Base"The Tax Foundation's article titled…

Q: Describe some reasons why it is a good idea to file a tax return if you have earned income, even if…

A: If there is no tax liability, even then the Income-tax return (ITR) is mandatory to file if the…

Q: Define average tax rate

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

Q: Illustrate what is incremental tax rate?

A: Definition: Tax: Tax is the compulsory legal payment that is imposed by the government.…

Q: not use ai please don't

A: 1. Who is required to pay income tax?Everyone who earns money is generally required to pay income…

Q: Explain and what is the calculation of the following. Tax rates (formula) HELP repayment amount…

A:

Q: How do "sales tax-free" days  impact our government?

A: sale tax free day means there will be no tax on certain items for cetain period of times. all those…

Q: discussion on why you think credits are better than deductions, or if deductions are better than…

A: Similarities between Tax Deduction and Tax CreditPurpose: Both tax deduction and tax credit serve to…

Q: How do I calculate the amount of sales tax that is included in total receipts?

A: Sales tax = Actual sales * Tax rate

Q: The taxes most relevant for personal financial planning are:     A. Income tax     B. Sales…

A: Taxes are compulsory financial charges or levies imposed by governments on individuals, businesses,…

Q: U.S. taxable income (a) Total creditable foreign tax (b) FTC limitation* FTC allowed (lesser of (a)…

A: Income tax may be define as the tax charges levied by the government or the authorized bodies upon…

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.