In the case of property tax, government costs are low but taxpayer cost are high

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: Which of the following is not a tax preference or adjustment item for the individual alternative…

A: Alternative minimum tax (AMT) is the compulsory minimum tax which an individual or corporate has to…

Q: A progressive tax system encourages individuals to work harder.Is it true or false? and why?

A: Progressive tax system is the system under which a lower rate of tax is imposed on an individual…

Q: True or false is regulatory tax is intended to achieve some social or economic end?

A: Regulatory tax: Regulatory taxes are the charge or levy of taxes by the government on the general…

Q: 1. Explain how value-added tax (VAT) works and its advantages and disadvantages from businesses,…

A: Disclaimer: "Since you have asked multiple questions in a single question we answered first question…

Q: If some activity creates positive externalities as well as private benefits, then economic theory…

A: An externality is benefit or cost that affects someone who is not directly involved in the…

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: In the case of income tax there are high tapayer costs but low government costs True False Question…

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

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: Tax experts believes that tax planning tools puts the control of when to pay in the hands of…

A: Introduction Tax Planning is an act of arranging and managing transactions in such a way that, tax…

Q: What is the logic behind allowing tax loss carrybacks/carryforwards?

A: Logic behind allowing tax loss carrybacks and carryforwards: A tax loss carryback permits a company…

Q: what is mean by Tax evasion and what reasons the people do this?

A: Tax obligation represents the liability of the taxpayer towards the government for the payment of a…

Q: In the case of income tax there are high taxpayer costs but low government costs ? True or False

A: Income tax is known as the form of tax that is imposed on the income or profits of individuals or…

Q: Real property tax is an example of: Group of answer choices Property tax Excise tax Privilege tax…

A: Real property tax is the tax on real property like land and buildings, improvements, machinery, etc.…

Q: Which of the following decreases the benefit of accelerating tax deductions? Decreasing tax rates…

A: The following thing which decrease the benefit of accelerating tax deductions According to the…

Q: , whereby a taxpayer deducts the total amount of money spent on various expenses, such as gifts to…

A: Tax refers to the percentile form of the obligation imposed by the government over the income earned…

Q: hort term capital gains taxes are higher than long term capital gains taxes. How does the different…

A: At the point when you sell a capital resource for more than you paid for it, the outcome is a…

Q: What is a deferred tax asset and how is the value created?

A: Deferred tax asset: When Income Tax Expense account is more than the Income Tax Payable account,…

Q: The value of property for tax purposes, usually a percentage of the fair market value is known as…

A: Appraisal value refers to that on a specific date, the specific property’s current market value is…

Q: It is the tax legislator who determines the value of the offer true Error 0

A: Value is determined as per law rules and regulations

Q: In tax management, using the effective tax rate is better than using the nominal tax rate. What…

A: Using the effective tax rate rather than the nominal tax rate is preferable in tax management.

Q: Taxes result in an excess burden or welfare loss, but government subsidies always result in a…

A:

Q: What is the difference between a progressive tax, a proportional tax, and a regressive tax?

A: Tax is an important concept in the area of finance. The United states has three types of taxes…

Q: Vat tax - the popularity of this type of tax, the nature of this type of tax and the effect on…

A: Value Added Tax (VAT):  It is a consumption tax placed on manufactured goods, at whatever time value…

Q: The government should tax itself? Yes or no

A: A tax is a sum of money that is must be paid to the government in order for it to provide public…

Q: Can the effective rate of tax be negative? Why? or Why

A: it is sometimes possible that effective tax may be negative.This is but rare cases but sometimes it…

Q: Tax deductions differ from tax credits because:   A. deductions affect relative prices, credits do…

A: Tax Deduction:-Tax Deduction means when there is subtraction in the taxable income of a person under…

Q: An income tax is an example of which of the following? Derived tax revenue. Imposed nonexchange…

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

Q: True or False The goal of tax planning is tax minimization.

A: The given statement is true.

Q: Is the local property tax a regressive tax, or a progressive tax?

A: Progressive Taxes: Taxes that require high income groups to pay a larger percentage of income in…

Q: In general, accrual basis taxpayers cannot take deductions for tax purposes until economic…

A: Accrual basis of accounting requires an individual or other entity to record the revenues and…

Q: How is a business activity distinguished from an investment activity? why is this distinction…

A:

Q: The current federal income tax structure is progressive in nature. First, explain what that means.…

A: Current -Federal tax structure- Progressive Federal Income tax structure is progressive in nature…

Q: Basic community tax is an example of while income tax is a kind of O Privilege tax; capitation tax…

A: Basic community tax is an example of Privilege tax while income tax is a kind of Capitation tax.

Q: True or false, and explain

A: True. Taxing individuals to provide public goods increases the tax burden of all taxable…

Q: Some tax credits are referred to as refundable. What does this mean?

A: A tax may be referred as a “pecuniary burden laid upon individuals or property owners to support…

Q: Which is not a source of federal revenue? Employment taxes Estate and gift taxes Taxes on…

A: Taxes are the compulsory payment made by the assessee to the government. For example , income tax ,…

Q: What is the maximum investment income a taxpayer is allowed to have and still be allowed to claim…

A: Investment income cannot be more than $3,500 for the 2018 tax year to claim the earned income…

Q: hank

A: Tax law, the body of rules under which a public authority has a claim on taxpayers, requiring them…

Q: What is Deferred Tax Liability and why it might be created?

A: A deferred tax liability is the temporary differences which is created when there are differences…

Q: ous for the taxpayer? Explain

A: Meaning of Income Taxes Income taxes are the taxes which are paid on the income of an individual.…

Q: Why do deferred tax assets arise? Explain your answer with suitable example.

A: Item on an organization's monetary record that might be utilized to diminish tax for later are…

Q: What is the advantage of Making versus Buying? Give a scenario and explain the effect focusing on…

A: A make-or-buy decision is an act of choosing whether the product manufacture in-house or…

Q: Question 36 in the case of property tax, government costs are low but taxpayer costs are high. O…

A: Answer of this question is - True

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,…