Levy means use authority to demand and collect a payment," especially a tax. Discuss four things taxes are levied on where you live.

Q: Differentiate Tax from Taxation

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

Q: FUTA tax is paid by:

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

Q: Explain the difference between an individual and a corporation or society when filling taxes.

A: Individual Taxpayer: A taxpayer is someone who owes money to the federal, state, or municipal…

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: can you help me how to Explain how an employer can receive a credit against the FUTA tax due.

A: FUTA stands for Federal Unemployment Tax Act under federal law of US. FUTA tax is paid by the…

Q: Explain the four factors where the premium tax credit (PTC) applies.

A: 1. Household Income: A household's Modified Adjusted Gross Income (MAGI) is used to determine the…

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: 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: explain in detail regarding the following topics 1. Adoption Tax Credit   2. Non Business…

A: 1)  An adoption tax credit is a tax credit offered to adoptive parents to encourage adoption in the…

Q: What are child tax credits and payroll taxes? Explain the advantages and disadvantages. which…

A: Child Tax Credits  In America, child tax credits are given to every family in which dependent child…

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: 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: What is a tax? And explain why it is required for an economy. c)2. List any three 3. Distinguish the…

A: 2. List  any three sources of tax legislations.Answer: Three Sources of Tax Legislations…

Q: axation is described as a symbiotic relationship whereby in exchange of the benefits and protection…

A: Tax represents the liability for an individual or company that has to be paid to the government. It…

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

A:

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: Which of the following items IS included in gross income? O Municipal bond interest O Unemployment…

A: Any interest from state or municipal government bonds is not included in gross income. Any…

Q: What is a key requirement for filing individual income tax returns? a) Providing proof of employment…

A: The correct answer is:b) Reporting all sources of incomeExplanation:One key requirement for filing…