an you explain how the Tax cuts ( 2017) did not benefit everyone equally ? Do not include the brackets please, thank you ! 100 words.
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- Hello, I am getting the gross profit for 2027 as 453,100 which is telling is incorrect. Please help and explain what the correct answer may be. Thank you!Y8 what first triggers the calculation of the additional child tax credit09. Referring to Fig 4b, the attached table, and your answers to questions 7 and 8 above, is it reasonable to infer that income tax rate cuts tend to increase the share of taxes paid by top income taxpayers? YES NO
- The Tax rates for 2018 is wrong can you fix it? thank you so much!Hello I’m using Cengage chapter 11 What is the social tax deduction on a gross pay of 720 dolars. Also do you provide entire answer keys ?the answer to this question is Q8.14= The after-tax present worth of the chip placer is −$1683. we just need to find how we get that answer for this question, please help NO EXCEL
- M 18 Let’s say the current progressive personal income tax is now replaced by a flat tax, as advocated by many people for efficiency reason. A flat tax keeps only the standard deduction for a married couple (say in this case, $40,000) and a single tax payer (say $20,000), and gets rid of all other kinds of exclusions, adjustments, exemptions, deductions and tax credits. What remains of your income will be subject to a flat tax rate of, say, 20%. Here are two questions: a) Is this a proportional tax or is it still a progressive tax? (To help you answer this question, think of two hypothetical families with two different income level at $50,000 and $100,000. What is the average tax rate for these? two families under this flat tax system?) b) How is this flat tax compared to our current personal income tax design, as the one in Question 1, in terms of vertical equity?ROUP 2: sodiaschow slicerbot been ad bloco il todos) letovarlad su OBLEMS 2.1 2.1 1. Indicate whether each of the items listed below would be included (I) in or excluded (E) from gross income for the 2021 tax year. a. Welfare payments b. Commissions RIFOITD2 to nourt woll |||||||| Piruvor anolaulox3 ban Questions and Proble orli € 1697 6 002,02 c. Hobby income 122 d. Scholarships for room and board avea ins e. $300 set of golf clubs, an employee award for length of service f. Severance pay j. Gifts k. Tips and gratuities noorain id yd g. Ordinary dividend of $50gms bash. Accident insurance proceeds received for personal bodily injury i. Inheritances 20 2. Jane is a roofing contractor. Jane's friend needed a new roof but did not have the cash to pay. Jane's friend instead paid with a used truck that Jane could use in her roofingExplain about Compare the Tax Cuts and Jobs Act of 2017 with The Tax Reform Act of 1986.
- 15. Tax Deferred Retirement Benefits. If a person with a 24 percent tax bracket makes a deposit of $5,500 to a tax-deferred retirement account, what amount would be saved on cuIrent taxes? Type here to search ho 17 to to 144 f4 40 ?. 7. 8. %23 4. 7. 60 00 LO 96 %24 2.H8. A- Describe what a progressive tax system and what a flat tax system are. B- Discuss the pros and cons of using these systems as the basis for our federal income tax bracketsActivity 5Answer the following questions below using the graduated tax table. Write your answer on the space provided after every questions.a. How much is the tax due on a taxable income of P150,000?Answer:b. How much is the tax due on a taxable income of P290,000?Answer:c. Ms. Carol earns compensation income of P3,230,000 during a taxable year. How much is the tax due of Ms. Carol? Answer:d. Mrs. Emily married earns compensation income of P460,000 during 2019. How much 1s the tax due of Mrs. Emily? Answer: Week 5 ACTIVITIES 5 29 Fundamentals of Accountancy, Business and Management 2e. The payslip of Mr. Budoy shows the following information:Basic salary P348,000SSS contribution 6,976PhilHealth contribution 4,500Pag-IBIG contribution 1,210How much is the tax due to Mr. Budoy?Answer: