Describe the income tax responsibility for online sellers.

Q: business taxation.

A: Business taxation  is about taxing the business. This is a term associated with the normal business…

Q: Sub- Account's  Give on example of Direct Tax with explanation?

A: A direct tax is one that falls under the same classification for both its impact and its incidence.…

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 is the purpose of income crediting?

A: Sales revenue: Sales revenue is the amount earned by the company by selling the goods or providing…

Q: How do the tax laws and financial accounting standards differ?

A: Financial Reporting:   Financial reporting is the process of disclosing the financial results of the…

Q: Income Taxation What did you learn in the subject income taxation

A: Learning from income tax   1) Income tax collection is maintained by the internal revenue services…

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: How does Dropbox apply GAAP to revenue recognition? Explain and give examples.

A: Generally Accepted Accounting(GAAP) GAAP are a set of rules the encompass the details, complexities…

Q: the difference between “tax evasion”, “tax avoidance”, and “tax planning”.

A: The differences for terms tax evasion,tax avoidance and tax planning are shown below

Q: How did you come up the number for Income before income tax, why did you subtract the quipment cost.

A: Income before tax=Tax expenseTax rate-Depreciation expense

Q: Identify additional issues in accounting for income taxes.

A:

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: Explain the items of gross income and how to tax them: whether at gross or at net, further…

A: •Gross income means all the income earned by an individual from all thhe sources but before tax…

Q: Which of the following statements is true about sales tax? O a. Sales tax is collected by retailers…

A: Sales: It can be defined as the selling of goods and services by the business to its customers.

Q: Define the term taxes payable.

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

Q: Discuss how to report various income items.

A: Introduction Income/Revenue is the money received from business/profession/service. There are many…