What is the American Opportunity tax credit?

Q: 1. What is Capital Gains Tax? 2. What is Documentary Stamp Tax ?

A: The answer is provided below:

Q: What distinguishes an income tax from other taxes?

A: A tax is a governmental entity's required financial charge or other kind of levy put on a taxpayer…

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 is the tax shield of interest?

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

Q: how does taxes affect Businesses?

A: Taxes According to Tax laws Taxes means the levy of money which was imposed by the government…

Q: What is Income tax payable?

A:

Q: Given the following tax structure, what minimum tax would need to be assessed on Shameika to make…

A: Tax Rate=Total TaxTotal Salary×100

Q: what are the characteristics of a good tax system?

A: Tax system is designed by the government of every country which is imposed on the individual’s…

Q: What is the difference between tax reliefs and tax credits?

A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…

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: What are the advantages of an indirect tax such as the VAT compared with an income tax?

A: The objective of this question is to understand the advantages of an indirect tax, specifically…

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

A:

Q: Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Incorporated, During 2020, he was…

A: Given : Fair market value = 35,000 Drove total = 22,000 miles Used car = 26,000 miles Per mile = 5.5…

Q: What are the additional income taxes?

A: Income tax: Income tax is a tax levied on an individual’s income (taxable income). It is a direct…

Q: How to calculate Value-added tax

A: Value added tax is a type of tax that is charged by the central government on the sale of…

Q: 4. Describe the exemption and exclusion. Interpret the similarities and differences. Give five…

A: These two terms seems similar and have the same impact i.e reduction in tax liability but both are…

Q: What are the features of final income tax?

A: Introduction:- Final tax is one of the exemptions to the extent of the regular income tax. An…

Q: How are national taxes similar to and/or different from local taxes?

A: National taxes refer to national internal revenue taxes imposed and collected by the national…

Q: What are taxes?

A:

Q: Distinguish between Tax Exemption and Tax Amnesty?

A:

Q: Marco Polo, How much is the total income not subject to tax?

A: Answer: The part of income that are exempted becomes the part of income which are not subject to…

Q: Why income tax is higher than corporate tax around the world?

A: A direct tax paid by individuals to the government for their income in terms of salaries is termed…

Q: What is meant by an effective tax rate? What does it measure?

A: The effective tax rate is the percent of individual or a corporation’s income that they pays in…

Q: What type of tax is sales tax

A: There are two types of tax. These are: Direct tax: Direct taxes are the taxes that are paid by the…

Q: What is tax due?

A: Tax Due: Tax due is the tax liability that is payable by any individual person or a corporate body…

Q: What are direct taxes?

A: The financial position of the company can be arrived from the income statement prepared by the…