For an individual taxpayer in the United States, what benefit is provided by the foreign earned income exclusion?

Q: What do you think is the reason why governments grants "exclusion from the gross income

A: Possible reasons why government grants exclusions from gross income can be as follows.  1) To…

Q: ssment, sh t is manuf

A: Given: Incurred expenditure amounting=R22,500 Incurred patent registration=R3,000

Q: Among the highlights of train law, which do you think is advantageous for the taxpayer? Explain

A: Tax is the compulsory payment made by one person to its government.

Q: how is the US income tax system unique?  Do you think it is good for tax payers?

A: The US Income Tax system is a robuts and strong system and the federal income tax is the largest…

Q: What happens when a qualified exempt importer subsequently sells what was imported to a taxable…

A: when a qualified exempt importer subsequently sells to non exempt person, the purchaser shall be…

Q: What are the four factors that deter the manner in which income earned foreign operation of a U.S.…

A: Foreign collaboration is taxed in the United States if it does business in the country or gets money…

Q: If taxpayers are not allowed to claim deductions for dependency exemptions, is it necessary to…

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

Q: The foreign tax deduction will result in a : tax benefit where as claiming the foreign tax credit…

A: Here, we should know the meaning of foreign tax credit        ''The source state withholds a portion…

Q: resident of the Republic may pay tax

A: A resident of South Africa is liable to pay tax to SARS on his/her income across the world.

Q: Why is the Donor's tax is the advantageous for the taxpayer? Explain

A: Donar's tax refers to the tax on a donation or gift. It is imposed on the gratuitous transfer of…

Q: What types of income should not be classified as such on a tax return? Why shouldn't they be…

A: Answer Nontaxable income won’t be taxed, whether or not you enter it on your tax return. nontaxable…

Q: he following individuals are required to file an income tax return, except: a. Non-resident aliens…

A: Answer: All individuals are required to file income tax return except correct answer is option ( d)…

Q: Real property tax is an example of a national tax. * A. True B. False

A: In United States, US taxes are generally levied by local government authority. This property tax is…

Q: Exclusion from gross income refers to income received or earned but is not taxable as income because…

A: Gross income is the total income of an individual without deducting any deductions or exemptions. It…

Q: Which of the following is not an income taxpayer classification? O a. Resident citizen b.…

A: Solution: As per IRS, "A general professional partnership shall not be subject to income tax,…

Q: compute estate tax payable for a non-resident alien in the philippines?

A: Estate tax : The tax imposed by the tax authorities on the personal  or personal estate wealth of…

Q: Which of the following taxpayers is taxable on income from all sources within and outside the…

A: Tax is the liability for the individual or corporation that is calculated on the income earned. It…

Q: why does the taxes diTfer among rious states in USA?

A: Tax expense: It can be defined as the taxes owed by an individual or an entity to be paid to the…

Q: Distinguish critically between the tax implications of savings, non-savings income and dividend…

A: Tax is the amount which is collected by the government from the taxpayers and this tax amount is…

Q: Income tax payments to a foreign country in the case of a resident citizen taxpayer may be claimed…

A: Taxes Paid in Foreign Country by Resident Citizen Taxpayer may be claimed as Tax Credit.

Q: For an individual taxpayer in the United States, what benefit is provided by the foreign housing…

A: Tax refers to the amount charged by the government from the individual and organization on the…

Q: Why might the effective tax rate paid on income earned within a country be different from that…

A:

Q: person who is outside Philippine territory may be subject to tax and a person who is within the…

A: Residents  of Philippines  will be subject  to tax if there income is greater than P250000

Q: Who among the following taxpayers may avail of the optional standard deduction? Non-resident alien…

A: The Optional Standard is available for Non-resident alien not engaged in trade or business in the…

Q: Who are considered “person” or “entities” or “taxpayers” for tax purposes? _____________________

A: The below mention definition of PERSON is as per Income Tax Act . As per income tax act , there are…

Q: How does an individual taxpayer in the United States qualify for the foreign earned income…

A: Taxpayers are individuals or organizations who are obligated to pay a tax to the government. A…

Q: An alien individual whether resident or not of the Philippines is taxable only on income from…

A: Tax imposed on an individual by a government depends on the citizenship status of that individual.…

Q: TRUE OR FALSE income tax paid abroad is a deductible item by a resident alien in the Philippines

A: Answer:  income tax paid abroad is a deductible item by a resident alien in the Philippines This…

Q: if the government should pursue the policies that have led to allowing the exclusion of certain…

A: According to the Income-tax laws, Assessee is required to pay tax on income earned by them from all…

Q: In general terms, what are the differences in the rules for determining who is a qualifying child…

A: A taxpayer can claim deductions on their federal income tax return for their dependants. There are 2…

Q: What are the tax implications of Social Security? Is it taxable at the Federal Level?, the State…

A: If you have other substantial income in addition to socoal security  benefits, then you have to pay…

Q: What are the tax implications of the different methods through which property is disposed? USA

A: Taxation - Taxation is the imposition of a tax on individuals and various types of organizations,…

Q: What is the purpose of the provision in the tax law that taxes unearned income of certain minor…

A: Kiddie tax is imposed on the children below the age of 17 years. It is the tax imposed on them if…

Q: Which of the following is taxable on income outside the Philippines?  Resident alien Non-resident…

A: Resident alien is a foreign national individuals residing in Phillipines who has satisfied the…

Q: Do you think

A: these are the following drawbacks of property taxes: Lower incentive to buy a home High property…

Q: Distinguish between Tax Exemption and Tax Amnesty?

A:

Q: hat is Tax Evasion in the Philippines?

A: Tax evasion refers to the concept when an individual or entity uses illegal ways to avoid any tax…

Q: What will be the effect after To complete a successful tax-deferred exchange for the investor?

A: Tax Deferred : It refers to the instances when the tax payer delays payment of tax for some future…

Q: which of the following is not a COVID-19 tax relief provision available to a self-employed…

A: Solution- Section 80GG – House Rent Paid   Deduction for House Rent Paid Where HRA is not Received…

Q: What is the income tax still due after foreign tax credits?

A: RCIT is the acronym of regular corporate income tax which is the tax rate which is charged on the…

Q: Which of the following taxpayers cannot claim deductions from gross income?       General…

A: Gross income refers to the income which is earned from the wages, dividends, business income etc. In…

Q: What is the issue with trying to abolish all property tax? Is property tax mandated by the…

A: The main source of revenue to the government is by the levy of tax on various goods, services,…

Q: How will the Filipino people benefit from the The Tax Reform for Acceleration and Inclusion Law

A: The Tax Reform for Acceleration and Inclusion Law is also known as TRAIN law. It is an initial tax…

Q: Provide an example of how a US taxpayer that manufactures the property which that taxpayer sells…

A: In the present case we will understand various methods in which a US person can increase his foreign…