Which one of the following deductions is available under S25-5 ITAA97 (Tax related expenses) Choose the best answer!   Fees paid to a tax agent to do a Tax Return   Payment of Income Tax   Capital Expenditure   Fees paid to persons who are not 'recognised tax advisers'

Which of the following statements about extensions of time to file certain business income tax returns is true? a)It is required of mostentities to us e electronic funds transfer to make all federal tax deposits. b) The IRS will send taxpayers a notification if their request for an extension is approved. c) Property filing the form wil not automatically give taxpayers the maximum  extension of time to file allowed. d) The maximum extension of the to file allowed from the due date of the taxpayer's business return is generally three months.

Which of the following causes a temporary difference between taxable and pretax accounting income? A. Investment expenses incurred to generate tax-exempt income. B. MACRS used for depreciating equipment. C. The dividends received deduction. D. Life insurance proceeds received due to the death of an executive.

1. What is AGI deduction? 2. What are the types of filing status? 3. What are the three general test a qualifying person must meet to be a dependent of the tax payer?