In tax management, using the effective tax rate is better than using the nominal tax rate. What should be the taxes to be considered in determining the effective tax rate of transferring real and personal properties through: Sale, barter, or exchange of ordinary assets  Sale, barter, or exchange of capital assets Donation inter Vivos Donation Mortis causa

Q: The best tax incentives that can significantly reduce its tax liability after finish claiming…

A: Investment tax credits are basically a federal tax incentive for business investment. They let…

Q: On theoretical basis of tawation, which of the folowing true? powers and territorial domination. b.…

A: 1. Taxation is the major source of income of government. Government collect taxes and use it for the…

Q: Which of the following statements best describes the process of tax planning? Oa. Tax planning is…

A: Given : a. Tax planning is the calculation of a taxpayer's marginal rate of tax.b. Tax planning is…

Q: determine if it's a tax deductible, tax credit, or neither.

A: TAX DEDUCTION:- It is a provision that reduce the taxable income. An expenses you can Subtracted…

Q: report expenses using correct tax categories because

A: The accountants have to report expenses under correct categories always.

Q: a. Explain what is meant by general anti-avoidance rule.  B).  State what impact this could have on…

A: Anti-avoidance in general:- The GAAR is a concept that allows a country's Revenue Authority to deny…

Q: Difference between tax deduction and tax credit. Give example of each. Some tax credits are referred…

A: Tax: Governments levy taxes on residents to create revenue for projects that would strengthen the…

Q: Which of the following is not an income for income tax purposes?

A: Assuming the question related to tax in Phillipines ---…

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A: Federal Tax: Federal tax is levied by US Federal government and paid to the national government. The…

Q: Tax experts believes that tax planning tools puts the control of when to pay in the hands of…

A: Introduction Tax Planning is an act of arranging and managing transactions in such a way that, tax…

Q: If there is a conflict between a BIR Ruling and a Revenue Memorandum Ruling, which will prevail?

A: The Bureau of Internal Revenue work under the department of finance and all the duties and…

Q: or accounting and tax purposes. B. Intraperiod tax allocation is required for the effect of…

A: Option A is incorrect because Intraperiod tax allocation arises because certain temporary difference…

Q: Which one of the following correctly states a purpose of the generation-skipping transfer tax…

A: GSTT is a federal tax. This tax comes into picture when there is a transfer of property to a…

Q: Real property tax is an example of: Group of answer choices Property tax Excise tax Privilege tax…

A: Real property tax is the tax on real property like land and buildings, improvements, machinery, etc.…

Q: 1) Class, what are transfer taxes? What is the purpose? When and how might they apply? 2) Share…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: axation is described as a symbiotic relationship whereby in exchange of the benefits and protection…

A: Tax represents the liability for an individual or company that has to be paid to the government. It…

Q: , whereby a taxpayer deducts the total amount of money spent on various expenses, such as gifts to…

A: Tax refers to the percentile form of the obligation imposed by the government over the income earned…

Q: What is  internal Rate of Return - Before Tax Cash Flow - BTIRR?  Please provide example.

A: Before tax IRR (BTIRR) is the IRR calculated on the before tax cash flows. Here, the before tax cash…

Q: Which of the following statements is not correct? * The “Benefit-Protection Theory” is the source…

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A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: Give a critical analysis and give a clear recommendation of how government should tax its nationals,…

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Q: Propose a tax measure in order for the government to eaarn addtional revenue with emphasis ont he…

A: Since you have asked two questions but we provide solution to one question only kindly resubmit…

Q: Which of the following is a permanent difference? Donations received Interest on savings deposit…

A: Solution: Dividends from a domestic corporation is a permanent difference as certain portion of…

Q: Which option is the correct definition of tax base? Select one: a. Tax base is the amount the asset…

A: Explanation: Tax Base is defined as the amount that is attributed to an asset or liability for tax…

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A: Tax payable is the amount that is to be paid by the tax payer to the tax receivable individual or…

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A: The tax means the amount that a taxpayer provides to the government. The government uses this amount…

Q: Which of the following statements is/are correct criteria of the good tax? a. Good taxation should…

A: Fairness, sufficiency, simplicity, transparency, and administrative convenience are the five…

Q: Do you believe that the cash flows from the sale of an investment should also include the tax effect…

A: Cash Flows in any entity's books reflect the inflow and outflow of cash during a specified period

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A: Tax planning refers tp the analysis of the financial plan in order to ensure that all the elements…

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A: Tax Deduction:-Tax Deduction means when there is subtraction in the taxable income of a person under…

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A: The tax obligation levied on the residential property under capital taxation if the owner detains…

Q: This refers to the process of taxation to determine the amount of tax based on existing tax laws.

A: Answer: b. Imposition

Q: What is the general rule for recognizing property taxes as revenues? How would property taxes be…

A: According to the definition of Property Tax Money, it is the amount of revenue earned by the…

Q: If a government wants to obtain the maximum tax revenue it should   A. use static tax analysis.   B.…

A: Answer: C) The government should strive to assess and increase tax rate to maximize the revenue. The…

Q: plication? Tax laws imposing business tax Tax implementing rules and regulations that are remedial…

A: Explanation of concept Tax:- A tax is the compulsory payment which is imposed by the government on…

Q: income tax on individuals

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

Q: Basic community tax is an example of while income tax is a kind of O Privilege tax; capitation tax…

A: Basic community tax is an example of Privilege tax while income tax is a kind of Capitation tax.

Q: True or false, and explain

A: True. Taxing individuals to provide public goods increases the tax burden of all taxable…

Q: Compare and contrast the basis of property acquired via purchase, conversion from personal use to…

A: Cost basis for personal assets converted to business assets:Cost basis refers to the unrealized cost…

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Q: Why do deferred tax assets arise? Explain your answer with suitable example.

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Q: Which of the following has a different treatment for cash and accrual basis of tax accounting?…

A: Under cash basis accounting, the transactions are recorded when the income is actually received or…

Deferred Tax

Deferred tax is an estimated future tax which is made while preparing accounts. It is estimated as a result of past and present transactions in the financial statements. It is not the actual tax which needs to be paid or refundable from the revenue authority, it is an accounting entry. It exists because of the difference between accounting profits and taxable profits.