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Badges of trade are used to determine A. if an individual is UK resident or not B. whether or not a trade exists C. how much tax an individual should pay D. the age of a taxpayer 10. Unused pension allowance can be carried forward up to A. 1 year B. 3 years C. 2 years D. 6 years.
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- 1. What loan from the federal government given to individual states is used to provide unemployment benefits to state residents? Answer: A. SUTA Advances B. FUTA Advances C. Title XII Advances D. Title 15 Advances 2. The SUTA tax rate is determined by an employer’s _____. Answer: A. credit reduction B. FUTA tax rate C. experience rating D. Medicare tax rate 3. Identify each item as associated with Form 1099-NEC, Form 1096, or both. A. Displays earnings for one individual Form 1099-NEC Form 1096 Both B. Displays earnings for multiple individuals Form 1099-NEC Form 1096 Both C. Requires a signature Form 1099-NEC Form 1096…4. What is the due date for tax returns employees and self employed taxpayers in Canada taxation? When istax payable due?5. What is the ditterence between total income net income & taxable income in Canada taxation?6. What records and receipts must be kept in Canada taxationWhich of the following person’s income is chargeable to Hong Kong salaries tax for the year of assessment 2020/21? Select one: a. Income of employment of a person having foreign employment who visited Hong Kong for 30 days for duties during the year ended 31 March 2021. b. Income from employment of a person having a Hong Kong employment who rendered all services outside Hong Kong during the year ended 31 March 2021. c. None of the above. d. Director’s fee of a person who is a director of a company incorporated in Hong Kong, who resided in Australia and visited Hong Kong for 10 days during the year ended 31 March 2021.
- When is the due date for the employer to pay schedular tax deductions to tax authorities? MalaysiaTheme: Adjusted Gross Income as determined by the IRS of USA. Examine the case below and do the following:1.Indicates the income items that are part of the gross income.2.Indicates the salary exclusions.3.Identify the deductions to which the taxpayer is entitled to calculate the adjusted gross income.4.Calculate adjusted gross income.5.Indicates the status that the taxpayer must file.6.Fill out Form 1040.Case 2 Carlos Martínez was born on January 9, 1967, is a teacher and is married. He had a salary of $50,000 and a tax withheld of $5,000. Carlos pays an individual retirement account (IRA) for himself of $7,000. His wife, Carmen Flores, was born on April 22, 1971, she works from home selling clothes, from which she had an income of $12,000. The couple have no children and have a joint bank account from which she earned $2,500 in interest from the bank.Question 30: Match each form to its purpose. SS-4 Used to obtain a Social Security number DROP HERE W-4 Provides information to calculate income tax withholding DROP HERE SS-5 Used to obtain an Employer Identification Number DROP HERE 1-9 Verifies employment eligibility DROP HERE Question 12: Which of these is a credit reduction state/territory? Question 15: Union dues are considered a deduction. Answer: Answer: A. O Connecticut A. O cafeteria B. O Ohio B. O insurance C. O Virginia C. O mandatory D. O U.S. Virgin Islands D. O voluntary Question 14: Alejandra owns and operates an appliance store where employees clock in and out for each shift. Per the FLSA, Alejandra rounds employee time worked to the nearest 15-minute increment. On Tuesday this week, Stanley works 4 hours and 9 minutes in the morning and 3 hours and 11 minutes in the afternoon. How does Alejandra record Stanley's time? Answer: A. O 7 hours B. O 7 hours and 15 minutes C. O 7 hours and 20 minutes D. O 7 hours and 30…
- US Tax System 1.) Darius' net income from self-employment reported on Schedule C is $25,000. Calculate his self-employment tax.TAX SYSTEM IN MALAYSIA FOR YEAR OF ASSESSMENT 2019 1. Tax Administration in Malaysia •Specific Income that is exempted from tax • Basis year and Assessment year for individual taxpayer • Basis year and Assessment year for Business tax payer. • What is self assessment for individual Penalties and Offences •List and explain any TEN offences and it’s penalties.Theme: Adjusted Gross Income as determined by IRS of USA. Examine the case below and do the following:1.Indicates the income items that are part of the gross income.2.Indicates the salary exclusions.3.Identify the deductions to which the taxpayer is entitled to calculate the adjusted gross income.4.Calculate adjusted gross income.5.Indicates the status that the taxpayer must file. Case 4 Rosa Hernández was born on May 2, 1979, is a veteran, secretary, divorced, and her W-2 shows a salary of $55,000 and tax withheld of $4,000. Rosa is studying and paid $8,000 for her college tuition for her bachelor's degree. She has a son who was born on April 24, 2008.
- Consider the situation below showing the weekly income tax of a single (civil status) employee in a certain country. Salary ... Amount of Income Tax Over But not over $0 $44 $0 $44 $222 $0 + 10% of excess over $44 $222 $764 $17.80 + 15% of excess over $222 $764 $1,789 $99.10 + 25% of excess over $764 $1,789 $3,685 $355.35 + 28% of excess over $1,789 $3,685 $7,958 $886.23 + 33% of excess over $3,685 $7,958 $7,990 $2,296.32 + 35% of excess over $7,958 $7,990 $2,307.52 + 39.6% of excess over $7,990 If an employee's income tax is $1,980.18, what is her weekly salary?Do not include a dollar sign, a space, or a comma. Blank 1 Blank 1 Add your answer1. Match each form name with its associated description. Form 1099-NEC Form 1096 Form W-9 Request for Taxpayer Identification Number and Certification Nonemployee Compensation Annual Summary and Transmittal of U.S. Information Returns 2. The SUTA taxes for an employee whose year-to-date earnings prior to the current period are $12,400, who earns $1,500 during the current period, who works in a state with a credit reduction of 1.5%, and whose state imposes a SUTA tax rate of 2.5% with an associated wage base of $12,600 would be$______ 3. Which of these states does NOT levy SUTA tax on employees as well as employers? Answer: A. New Jersey B. Alaska C. Pennsylvania D. Rhode IslandWhich of the following may be exempt from Canadian withholding tax when paid to a non-resident? a. dividends b. interest paid to an arm's-length party c. Pension benefits d. Registered retirement income fund payments
