Note: The information in this video is applicable to taxes filed in 2010. It is here for reference only. A flat tax requires you to pay a fixed percentage of your income, no matter what that income actually is.
If your income is high enough, a portion of your Social Security benefits will be included in your taxable income (up to either 50% or 85% of your benefits). On the other hand, if your income is low enough, you won’t have to pay tax on any of your Social Security income. You ...
How to determine the tax rate if you are C Corp The Tax Reduction Employment Act has significantly simplified C Corp’s tax calculation by replacing the step-by-step corporate tax rate scheme, which includes eight different tax rate brackets, with a flat tax rate regardless of the taxable inc...
A designated beneficiary can open aninherited IRA accountfor the assets. They can access any amount of the money at any time, but all of it must be withdrawn within 10 years (the money withdrawn is taxable). In addition, for those who inherited their IRA from someone who had begun taking...
A. accelerated depreciation is allowed B. asset is written off in the end C. all tax-deductible items have been subtracted D. tax-free investment reserves are allowed 相关知识点: 试题来源: 解析 C 正确答案:C 解析:第4段第5句指出,它们在计算应纳的税之前确定哪一些是可以减免的,换句话说,那些...
A traditional IRA is an individual retirement account with tax benefits: Contributions can cut taxable income, giving tax breaks now while saving for later.
Thedistributionspaid to the annuitant are taxable based on anexclusion ratiothat identifies the taxable amount of the payments. This is the amount that is attributed to investment earnings rather than the post-tax payments into the account. The premiums paid also are excluded from the taxable tota...
结果1 题目 A company’s taxable income is 17.1% of sales. Assuming taxes of 42% and a dividend payout of 50%, the net profit margin is closest to:[单选题] A. 5.0%. B. 7.2%. C. 9.9%. 相关知识点: 试题来源: 解析 C 反馈 收藏 ...
When you file your income tax return, you declare the amount of taxes you’ve paid, and it tells the IRS what your total liability for the year is. To calculate the total amount owed, multiply your taxable income by the income tax rate where you live, add any other taxes you owe, an...
A taxable benefit involves the payments provided to an employee by their employer as a reimbursement, allowance, or by utilizing the employer's...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your tough ...