What is the American Opportunity tax credit?

Q: How can we determine Corporate Taxes?

A: Definition: Corporate taxes are the source of income for the government or the nation which is…

Q: what is the possible tax implication?

A: Corporate tax rate = 25% Allowable deductions = P150,000 for November Allowable deductions =…

Q: American Opportunity tax credit

A: This is a multiple-choice question in which we have to select the correct option. This question is…

Q: Which of the following is not deductible from gross income? *   Community tax Excise tax…

A: Tax payer can deduct state and local income taxes, real property taxes, and personal property taxes…

Q: What is intraperiod tax allocation?

A:

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: Can you give one example of tax avoidance and what its effect on the tax collection of the country?

A: Tax avoidance is made before calculating actual tax liability.

Q: How much is the estate tax?

A: Estate Tax- It is the tax imposed on the property transferred upon the death of a person. Under…

Q: What are all type of taxes we need to pay

A: As individuals and as entities we need to pay various direct taxes as well as indirect taxes in our…

Q: What is corporate income tax and value added tax and its use?

A: Both corporate income tax and value added tax are taxes that have to be paid to the government. The…

Q: Do you think using we should using taxation as a redistribution tool in a country?

A: Tax is the money payable to the government according to the tax laws. Income tax is levied as a…

Q: What are FUTA and SUTA taxes? Is there any possible reduction in the FUTA tax rate? If so, what is…

A: Introduction: Employer payroll taxes are paid by the employer from its own funds on the basis of…

Q: Distinguish critically between the tax implications of savings, non-savings income and dividend…

A: Tax is the amount which is collected by the government from the taxpayers and this tax amount is…

Q: Illustrate what is incremental tax rate?

A: Definition: Tax: Tax is the compulsory legal payment that is imposed by the government.…

Q: What is the rate of the capital gains tax of real properties in the Philippines and the tax base?

A: A capital gain tax refers to the tax levied on the profits realized from the sale of items other…

Q: What is Estate Tax?

A: An estate tax is a financial duty levy on estates whose value surpases an allowed limit set by law.…

Q: FIT (Federal Income Tax) is tax paid from your income to the national level of government. Your…

A: Tax is a payment made to the government by a taxpayer for the government or social resources used by…

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

A:

Q: Average tax rate? (

A: Tax payable is calculated on the income falling within the respective slabs  The formula to…

Q: Should the IRS and the Department of the Treasury consider alternative tax systems, such as Flat…

A: Taxes refers to the money or amount of sum that the government requires people or businessman as…

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: How does Leasing offer tax advantages?

A: Lease: A contractual arrangement between the owner of the asset and the user of the asset for a…

Q: What is Documentary Stamp Tax and give examples?

A: The answer is given below:

Q: Why does the United States negotiate income tax treaties with other countries?

A: Tax treaties between countries are tax agreements which are entered into by two countries to avoid…

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: Explain with hypothetical example the effect of Investment Tax Credit.

A: Investment Tax Credit is an opportunity provided while filing for taxation where a deduction of a…

Q: hat is Tax Evasion in the Philippines?

A: Tax evasion refers to the concept when an individual or entity uses illegal ways to avoid any tax…

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: Why are tax havens controversial?

A: Tax haven are part of a country where foreign investors have to pay a very low tax rate for certain…

Q: Why every person needs tax planning?

A: Tax planning is something by which an individual or any entity can plan out on how much tax it can…

Q: What is an excise tax and its examples?

A: The company's aim will be to increase the profitability of the company. The profits can be arrived…

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: What is the income tax still due after foreign tax credits?

A: RCIT is the acronym of regular corporate income tax which is the tax rate which is charged on the…

Q: le ta

A: A middle tax break may be a reduction of a taxpayer’s total liability. The term is additionally…

Q: what is the special consumption tax?

A: Consumption can be briefly defined as the spending by individuals and households on final goods and…

Q: Describe the Economic Service Life with Tax Considerations?

A: Economic service life is the anticipated time over which the average owner will continue to use an…

Q: How can a country’s tax system affect the manner in which an operation in that country is financed…

A: The process by which a government or taxation authority imposes or collects a tax from its citizens…

Q: What form of business pays personal income tax?

A: Income tax, as the name suggests, is calculated on the income of assessee and payable according to…

Q: What is Percentage Tax?

A: Tax:- A tax is the compulsory payment which is imposed by the government on income and capital gain…

Q: How will the Filipino people benefit from the The Tax Reform for Acceleration and Inclusion Law

A: The Tax Reform for Acceleration and Inclusion Law is also known as TRAIN law. It is an initial tax…