Compute the tax due assuming

Q: Explain the difference between marginal tax rates and average taxrates.

A: Marginal tax rate : The marginal tax rate is the system by which the federal taxation system makes…

Q: Explain how does the company’s effective tax rate calculated.

A: Effective interest rate:   An effective interest rate is the real return on savings account or any…

Q: Distinguish between Direct and Indirect taxes giving the various examples where necessary.

A: Taxes are the compulsory obligations to be paid by the individuals to government. It can be levied…

Q: FUTA tax is paid by:

A: FUTA TAX: It is payroll tax paid by employers of the organisation.

Q: Discuss the different types of taxpayers.

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

Q: Define tax effect theory

A: Tax effect theory explains the impact of taxes on revenue or expense of a company. This theory is…

Q: How to calculate total taxable pay?

A: Introduction: The income of an individual or entity, less any legal tax deductions, is their taxable…

Q: What is intraperiod tax allocation?

A:

Q: What is the tax shield of interest?

A: Interest tax shields: It alludes to the assessment obligation decrease because of the interest…

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: summarize the features of a tax position

A: Tax assessment is the framework through which governments collect income from people and businesses…

Q: What are all type of taxes we need to pay

A: As individuals and as entities we need to pay various direct taxes as well as indirect taxes in our…

Q: Define Deferred tax asset.

A: Items on a company's balance sheet that may be used to reduce taxable income in the future are…

Q: Discuss the major features of the federal income tax system

A: In USA federal income tax is collected by the federal government.

Q: Define each of the following terms: h. Progressive tax; taxable income; marginal and average tax…

A: Step 1:Progressive taxIf the taxable income is more, the tax rate will be more as the taxable amount…

Q: explain what constitute  the variables of tax planning

A: There are mainly four variables upon which tax consequence of all the transactions depended: These…

Q: HOW TO improve tax-planning effort

A: Tax planning is the examination of a financial condition or plan to make sure that all parts work…

Q: How do you calculate withholding taxes?

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

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: 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: Define each of the following terms:i. Alternative minimum tax (AMT)

A: Alternative minimum taxIt is a tax levied by the U.S federal government with respect to income tax…

Q: Tax as a source is classified as?

A: Solution Concept Tax is the major source of revenue oto the government of any nation There can…

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: Explain the functioning of flat taxation. Which taxpayers are usually subject to a flat tax rate?

A: Flat taxation is a taxation system where all taxpayers are subject to the same tax rate, regardless…

Q: What are FUTA and SUTA taxes? Is there any possible reduction in the FUTA tax rate? If so, what is…

A: Introduction: Employer payroll taxes are paid by the employer from its own funds on the basis of…

Q: Illustrate what is incremental tax rate?

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

Q: How do you reduce taxes by contribution to a define contribution plan?

A: Defined contribution plan: These are the retirement plans wherein the employee and/or the…

Q: The tax rate is the ratio between the amount of tax and the amount of income. true Error

A: >Tax rate is the rate of tax that is levied by the regulating authorities.>Income tax rate is…

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: 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: 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: What are the deductibility of real property taxes

A: Property taxes and real property taxes are interchangeable terms. They are levied on the majority of…

Q: Discuss how a sales tax is regressive.

A: 1. Regressive Tax - Regressive Tax is a tax on the amount which decreases subject to the amount…

Q: 1.How is cost recovery properly assessed that will account for tax benefit?

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: Please discuss the deductibility of real property taxes.

A: Local governments and municipal corporations collect property taxes annually from landowners.

Q: 1. Name three types of tax rate structure and give examples.

A: Hi student Since there are multiple questions, we will answer only first question.

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 are taxes?

A:

Q: rent income,

A: Option a is wrong because final income tax is the ultimate tax liability on the whole income. Option…

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.