determine if it's a tax deductible, tax credit, or neither.

What is the tax rate range for Social Security benefits received? How is the deductible amount of personal property tax figured for personal vehicles? Remember, the tax must be calculated based on the vehicle’s value (not its weight) in order to be deducted.  Are donations of time and services deductible? What types of state and local taxes are deductible as itemized deductions on Schedule A?

A tax that requires a higher-income person to pay a higher percentage of his or her income in taxes is called a ____ tax.   a. proportional  b. progressive c.marginal  d. regressive

What are some ways taxpayers can stay up to date on the federal, state and local tax laws applicable to them?

Comment on the following items relative to tax planning strategies of a fiduciary entity. A. To reduce taxes for a typical family, should income be shifted to a trust or from a trust? Why? B. To reduce overall taxes, should a high-income, wealthy beneficiary be assigned to the first or second tier of trust distributions? Why?

Reproduce the tax formula include for individual taxpayers in good form and briefly describe each for the components of the formula. Discuss the differences between the tax formula for individuals and that for corporations.

Explain and what is the calculation of the following. Medicare Levy Surcharge Total Tax Liability Net tax liability(total tax liability less any applicable tax offset if any)

1.Explain the intake process to completing a tax return. using the form 13614-c, w2's, form 1099-R, Form SSA-1099, form 1099-c, Form W-2G, Form 1098-T Just explain for to process this thing all together.

From the following list of tax credits, which credits help to reduce the tax liability on a taxpayer's taxable income? 1. Personal tax credit 2. Earned income credit 3. Child savers credit 4. Student loan interest credit 1, 2, and 3. 2 and 3. 2, 3, and 4. 1, 2, 3, and 4.

Which of the following should be included in gross income? A. Interest from a educational savings bond used for tuition B. Interest from a corporate bond C. Interest from a state of lowa bond D. Interst from a local school bond