Which of the following is not deductible from gross income? *   Community tax Excise tax Documentary stamp tax Foreign income tax claimed as tax credit

Q: Which is deductible tax expense against gross income? Documentary stamp tax Donor's tax Estate…

A: Documentary stamp tax is deductible tax expense against gross Income....

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: Various Income Taxes: Should all types of income be taxed at the same rate? First, relate the…

A: Taxable Income: It is a part of a person's gross income that should be taxed. It is also referred to…

Q: QUESTION: if Chiz is non-VAT registered, how much is the business tax payable?

A: Non Vat Register For the Non Vat register whose gross sales / gross receipts which are not crossed…

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: different taxes collected

A: Tax is the revenue of a country collected from it's taxpayers as a percentage of their income, value…

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: what are the two tax rates whih are used to calculate AMT, ignoring the special treatment of…

A: A dividend seems to be the distribution of a part of a company's earnings to a selected group of…

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: Which of the following refunds is not subject to income tax a, Local tax expense b.Special…

A: Answer: Th refund which is not subject to income tax are those amount for which earlier deduction…

Q: e burden of multiple taxation by home cou Tax credits and Withholding taxes Pricing and Income Taxes…

A: Question 20  d) TAx Treaties and foreign Tax credits      Question 21  c) Its tax system has no…

Q: Statement 1: Under Schedular Tax System, income tax rules vary and made to depend on the kind or…

A: The government collects taxes from the individuals and other firms with a view to finance the…

Q: Which of the following is subject to the creditable withholding tax system?

A: Creditable withholding tax is an advance income tax of the particular tax payee. This would mean…

Q: True or False: The income a U.S. company reports to the IRS (i.e. to calculate taxes), could be…

A: The income in the income statement is different from those the tax authorities choose and pay taxes…

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: 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: Which is not a characteristic of corporate income tax? Progressive tax   General tax Direct tax…

A: Taxes are the major source of revenue for the government. There can be various type of taxes which…

Q: Which of the following is not an exclusion from gross income?  A. Incom

A: From the Following above options: option(C)not an exclusion from gross income. C.SSS benefits There…

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: 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: e from Tax Evasion?

A: The difference is given as,

Q: earnings below a certain threshold are taxed. What is your opinion on the fairness of this tax?

A: social security tax is such type of tax in which a percentage of the gross wages that most of the…

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: hen different types of income are subjected to common tax rate, the tax system is described as…

A: Answer: Tax system is the concept or foundation basis which any tax rates are introduced.

Q: What is the resort's net income for tax purposes?

A: Safe haven wildlife resort operate a proprietors-ship that generate $20000 in income under GAAP.…

Q: Which of the following may not form part of the regular itemized deductions from the gross income?…

A: Itemized Deduction In the taxation law either standard deduction / itemized deduction which can be…

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: final tax and income tax

A: Tax is a form of compulsory payment made to the government of the country. The amount that is…

Q: Why is the income tax payable not the same as income tax expense

A:

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: Because income from fixed income assets is taxed at a higher income tax rate than capital gains and…

A: Capital gain is the revenue generated from selling the assets either long term assets and short term…

Q: How do you calculate State Tax? How do you calculate FICA Tax

A: State tax:   State income tax is a direct tax. State tax is levied by a state in the state the…

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: the process of reducing the allowable deduction of interest expense by a certain percentage is…

A: the process of reducing the allowable deduction of interest expense by a certain percentage is…

Q: income tax on individuals

A: Progressivity refers to the act of being progressive. Progressive tax means a tax rate in which the…

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 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: 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: 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: Why is the income tax payable not the same as income tax expense

A:

Q: Which is NOT a remedy in double taxation?

A: Basically double taxation refers to the  tax principle where the income tax are being paid twice for…

Q: taxes commonly used by many countries includes: - import duty payable on specific types of imprted…

A: Direct tax refers to tax payment made by a individual or any other legal entity such as firm,…

Q: Not all income earned by a CFC is subjected to current taxation to US persons. Income that is…

A: Passive Income: Passive income is profit from an investment property, restricted association, or…