i think there's something wrong because income tax is 91200

Q: S1 - Individual taxpayers can be entitled to 1% (old rate 3%) percentage tax if their registration…

A: Correct option: B

Q: One of the bases that the legislator must take into consideration when developing tax legislation in…

A: Developing a tax legislation in any countryhas very wide scope and definition, therefore

Q: This doesn't seem correct. What would be Omar's self-employement tax liability if he didn't

A: Dear student               Yes .  Your doubt is exactly correct.                 Due to…

Q: I am working on a homework assignment and a question states that a $1500 expense was not previously…

A: IAS 8 (Accounting policies, changes in accounting estimates, and errors)According to IAS 8…

Q: What are some of the notable characteristics of tax?

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

Q: The Tax rates for 2018 is wrong can you fix it?

A: Tax rates are the rates on which are used by the taxpayer in order to compute his or her tax amount…

Q: I am working on a homework assignment and a question states that a $1500 expense was not previously…

A: Taxable income refers to the income on which the tax payer is liable to pay the desired tax as…

Q: S1: In indirect tax, the impact of taxation and incidence of taxation lie on the same subject. S2:…

A: S1 is false as in indirect tax, the impact of taxation lies on one person while the incidence of…

Q: Financial thought turned to the theory of social solidarity - due to the failure of the social…

A: The given statement is True

Q: Not all types of income are subjected to income tax. Provide with an example the types of income…

A: The Income Tax Act 1967 is a piece of legislation in Malaysia that governs the taxation of income.…

Q: Which of the following statements is incorrect? *       A. If 5% special tax on gross income is…

A: If a firm pays a special added tax then it receives benefits in some form. Gross income is the…

Q: Why do most companies prefer to use an NOL Carryback instead of an NOL Carryforward when both…

A: An NOL carryback allows companies to offset current-year losses against past taxable income to…

Q: James v. U.S. 366 U.S. 213. What court heard this case? In what year was this case decided? What…

A: In the given case, the US Supreme Court decided that illegal funds received by a taxpayer is treated…

Q: The Tax Code was created to punished people who did not pay taxes.  True  False

A: Tax code is created  for individual and who are in  businesses .In this tax code lots of sections,…

Q: Section 61 of the IRC (Internal Revenue Code) has been labeled as "too broad" and "vague" by some…

A: Internal Revenue Code (IRC), Section 61 (a) describe the gross income as the income from the sources…

Q: Hello! I am struggling with a homework problem of mine. It is from my concepts in federal taxation…

A: Taxable Income: The amount of adjusted gross income that is liable to be taxed is known as taxable…

Q: II. How Sin taxes help the health of the people?

A: II.  Sin tax are imposed on the goods which are harmful for health ( such as alcohol, tobacco etc. )…

Q: Suppose a tax reform bill is enacted that causes the corporate tax rate to change from 34% to 36%.…

A:

Q: 1) How can tax on Pfizer's income be negative? Does it mean Pfizer saved that much money or they…

A: Pfizer is a global pharmaceutical company and among the top pharmaceutical companies in the world.…

Q: 8) Which types of taxes currently in law from today would JS Mill approve of? Why? taxeson wea death…

A: Income Tax at a Graduated Rate: Mill may approve an income tax with a progressive or graduated rate.…

Q: Is the following statement correct regarding exclusions or deductions? Cancellation of debt for a…

A: Cancellation of debt for a taxpayer's credit card bill is not a deduction from federal gross income.…

Q: Please advise on the answers for After Tax (C) the first two answers are wrong. It is not -26100 and…

A: Discontinued operations refer to the business units that start turning unprofitable to the business.…

Q: At the federal level, the single most important tax, accounting for slightly less than half of…

A: The correct answer is:a. personal income tax.Explanation:At the federal level, the personal income…

Q: fiscal

A: Introduction: Tax can be defined as mandatory levy by the government on the citizens of the country.…

Q: 43. True or False. If the debt is canceled due to services rendered by the debtor, the basis of tax…

A: There are cases and instances in which a debtor renders services and in lieu of these services the…

Q: H8. A- Describe what a progressive tax system and what a flat tax system are. B- Discuss the pros…

A: Taxation refers to the imposition of compulsory financial obligations by the government on…

Q: a. Gains or losses from amendments to post retirement plans are a component of other comprehensive…

A: The answer is stated below:             Note: Answering the first three subparts as there are…

Q: Provide the types of income subject to Income Tax in Malaysia.

A: An income tax is a type of tax that is levied on individuals or businesses based on their earnings…

Q: delinquent taxes

A: Delinquent taxes are taxes owed to the government authorities that you haven’t paid. Taxes are…

Q: When a firm is expensing an item faster on the tax return than on the financial statements, a…

A: A deferred tax liability is an amount of tax that the company owes to the government but has not yet…

Q: - That the tax base falls within 0- first layer B- second layer O 0- last layer d- all lavers

A: Solution Concept Tax base Tax base means the total amount which is charged to tax The total income…

Q: 29Which of the following statements are NOT correct? i. A registered taxpayer can claim input tax…

A: i. A registered taxpayer can claim input tax credit for items used for its exempt activities.…

Q: I did not understand how you did the formular for the After-tax YTM.  Please provide a clearer step

A: Data given: Par value =$ 100 Market price=$ 90 (90% of $100) Coupon rate=5% (paid semi-annually)…

Q: Federal income taxes have a significant effect on businesses and investors, and affect the personal…

A: As in the given case if the situation of individual and corporation has been reached to 37% many of…

Q: Creditable Withholding Tax Voluntary Compliance System Withholding System on Business Tax Final…

A: Creditable Withholding Tax: It is an advance income tax paid by the taxpayer before filing of income…

Q: Explain one difference between the W2 and 1099 tax forms.

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

Q: The tax that takes into account the status of the taxpayer

A: Status of the taxpayer means the classification of the taxpayers into groups based on age, structure…

Q: Explain the limitations imposed on itemized deductions, especially the 2% floor for miscellaneous…

A: Deduction- A deduction is an amount allowed by the Internal Revenue Service that is subtracted from…

Q: The tax law refers to gross income, yet the term gross income is not found on Form 1040. Explain.

A: Tax: A tax is a compulsory charge or a levy imposed upon a taxpayer by a government organization to…

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.