Tax payable = 5000 cars × 8000 yuan / car × 5% = 20million yuan For the taxable consumer goods produced from tax-paid consumer goods purchased or co ntract-processed by the taxpayers(such as the cigarettes produced from the tax-pai d cut tobacco purchased or contract-processed,the cosmeti...
as you can only deduct the general sales tax rate. There are two ways to calculate the deduction. The first one is to collect all your sales receipts and deduct the sales taxes you paid throughout the year, including the car sales tax. The second one is to use IRS sales tax...
The residual value of a car is generally expressed as a percentage of the MSRP. In my case, the original MSRP on my vehicle was $22,565 and for my 3 year lease, the residual value is 61 percent of the MSRP. This is actually a GREAT residual value when compared to several competitors...
The total cost of a product is equal to the sum of purchasing value and tax amount. The following expression can be used to calculate the total cost of the product. Tc=Pp+At The tax amount is charged on the purchasing price o...
from Chapter 52 / Lesson 2 16K Discover how to calculate sales commission based on the three types of commission structures. Review what sales commission is and understand the percentage of sales method, the stair step structure, and...
Step 2: Determine the car's fair market value Toestimate your car's fair market valueto calculate your deduction, the IRS suggests that you use a reputable used-car price guide. Consider consulting the Kelley Blue Book My Car's Value online tool, for example. Search the pri...
Use Schedule A:Schedule A is used for claiming itemized tax deductions. Near the bottom of theSchedule A instructionsare optional state sales tax tables formulated by the IRS. At the very bottom is another table for local sales tax. The worksheet in the instructions helps you calculate the tax...
One long-distance flight consumes fuel which a car uses in several years' time, but they cause the same amount of pollution. So, some people think that we should discourage non-essential flights, such as tourist travel, rather than limit the use of cars. To what extent do you agree or ...
Learn how to estimate the value of clothing for IRS tax deductions as charitable donations. The value of clothing donations to charity are based on published lists of retail values or current thrift store prices. List your donation values on the Form 828
Use lines on IRS Form 1040 and IRS Schedule 3 to calculate how much tax you owe versus how much you have already paid for the year. If you paid more tax than you owe, you will get a refund. You can decide to apply part of your tax refund to the next tax year as an estimated ...