What is the sales tax? Is it an expense or a liability?

Q: accounting income and taxable income?

A: Accounting Income -: Accounting Income is the revenue a firm earns or keeps after paying off all…

Q: The additional tax on top of the standard tax?

A: Tax is a compulsory financial charge levied by government for finding the source of public…

Q: What is taxation?

A: Required  What is taxation?

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: How much interest income is subject to final tax?

A: Answer:   Interest income subject to final tax=   1. Interest Income on loans to online sellers =…

Q: Define Income tax paid

A: Income tax paid is a charge or payment made to the government by the individual or the firms in a…

Q: what are the two components of income tax expense

A: PLEASE LIKE THE ANSWER  Firstly, income tax expense means an amount of tax expense incurred on the…

Q: produ

A: The term "tax incidence" (or "tax incidence") refers to how a tax burden is distributed across…

Q: similarities between income taxation and business taxation?

A: Income taxation and business taxation are terms used related to taxation.

Q: What is an unrecognized tax benefit and how does it affect a company's current income tax expense?

A: The Meaning of Income Tax: FASB defines income tax as a tax on earnings. It is measured in terms of…

Q: Tax as a source is classified as?

A: Solution Concept Tax is the major source of revenue oto the government of any nation There can…

Q: What are the different type of income tax?

A: The answer for the question on the different types of income tax is discussed hereunder : Taxes are…

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 situs rules on income tax situs on sales of goods?

A: Income tax:A tax charged on the income earned by the individual or corporates by the central…

Q: Explain the difference between direct and indirect tax

A: Introduction: Tax refers to an individual's simple duty to contribute their resources. It is imposed…

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: What are the Sources of Tax Laws?

A: Tax: It is a mandatory fee levied by the government on the individual and organization.

Q: What is Income tax receivables?

A: Other receivables: Other receivables are the receivables other than the accounts receivable, and the…

Q: May an exaction be both a tax and regulatory fee

A: First of all we need to understand that Tax and Regulatory fees both are independent and can not…

Q: Define Income before taxes.

A:

Q: Discuss how a sales tax is regressive.

A: 1. Regressive Tax - Regressive Tax is a tax on the amount which decreases subject to the amount…

Q: What is a tax return? brief explain

A: Tax return in a form designed by designated tax authorities which helps taxpayers to disclose their…

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: What are taxes?

A:

Q: Is input tax and output tax shown on the accounting worksheet?

A: 1. Input Tax - Input Tax is a tax on the purchase of the goods or expenses incurred. 2. Output Tax -…

Q: what types of taxes are deductible in full or in part?

A: The tax-deductible expense helps the business to generate revenue by decreasing the tax liability.

Q: What is the total tax expense?

A: Income Before tax is Given. Tax rate will be applied to the Income before tax

Q: We tax net income? What economic distortions would occur if we taxed gross receipts?

A: Gross income is the income to the company or an individual after operating activities or providing…

Q: What are the aspects of Taxation?

A: Taxation Taxation is important for the country which can be generate revenue to the government to…

Q: how is income tax expense calculated?

A: Income tax expense is form of direct tax which needs to be paid by individual or business…

Q: How does income taxation differs from transfer and business tax?

A: Income tax is a direct tax that governments impose on income generated by individuals and business…

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: 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: Explain the concept of situs of taxation? Give examples

A: Governments in practically every country throughout the world levy forced charges on persons or…

Q: why is inventory tax management important

A: Inventory management is a prime component of COGS (cost of goods sold) and therefore its a key…

Q: What is an assessment under the income tax assessment legislation? and why are assessments importa

A: Solution Return under income tax                 Every person whose income is taxable as per the…

Q: Define income tax expense.

A:

Q: What is the burden of the tax? Explain the key factors that determine the incidence of the tax.

A:

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…

Q: In this question the income tax calculated how was it found? what is the transactions? help please

A: As per the information given in the question, The taxable income is 153.000 TL

Q: What are the special features of regular income taxation?

A: Income Tax It is a tax placed on an individual. It is deducted from a person's total income. It is a…

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.