What things dose the government collect income taxes?

Description : What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Last Answer : (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. Explanation: A value added tax (VAT) is a form of consumption tax. A VAT is like a sales tax in that ... under the single tax system based primarily or exclusively on one tax, typically chosen for its special properties.

Which of the following taxes is not collected by the Central Government? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

Description : Which of the following taxes is not collected by the Central Government? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

Last Answer : (3) Professional tax Explanation: A professional tax, also known as an occupation tax or a professional privilege lax, is a tax that a professional must pay to receive the right to practice a ... and a professional who has clients in more than one state may owe professional taxes in several states.

6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment spending is $2000. In order to avoid recessions and inflation (to have equilibrium), the government should have a: a. balanced budget b. budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Description : 6. Assume that Potential Real GDP equals $10,000. National Income is therefore $10,000. Of this, consumers will pay $2,000 in taxes, save $1,000, and spend $7,000 on consumer goods. Business Investment ... . budget deficit of $1000 c. budget surplus of $1000 d. budget deficit of $2000 C C A A C

Last Answer : c. budget surplus of $1000

Personal income equals personal disposable income (Yd) plus (a) Personal savings ; (b) Transfers from government ; (c) Personal income taxes ; (d) Dividend payments

Description : Personal income equals personal disposable income (Yd) plus (a) Personal savings ; (b) Transfers from government ; (c) Personal income taxes ; (d) Dividend payments

Last Answer : (c) Personal income taxes ;

Which of the following taxes is not collected by the Central Government ? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

Description : Which of the following taxes is not collected by the Central Government ? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

Last Answer : Professional tax

What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Description : What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Last Answer : A single tax that replaces State taxes like, surcharge, turnover tax, etc.

As a result of this amendment, Congress was given the power to collect an income tax.?

Description : As a result of this amendment, Congress was given the power to collect an income tax.?

Last Answer : 16

What do you think the things people collect says about them?

Description : What do you think the things people collect says about them?

Last Answer : I do not know. I collect knee caps, what does it mean?

Why do we collect useless things?

Description : Why do we collect useless things?

Last Answer : Your list seems to be somewhat meaningful. I end up collecting' things that might be of use someday and old pipe, a rotting sheet of plywood, dead grass in bags, old brown T-shirts. I guess ... today. I collect things that are seemling useless but might be of practical use later. Hope this helps!

Which of the following provides the best description of an entity type? (A) A specific concrete object with a defined set of processes (e.g. Jatin with diabetes) (B) A value given to a particular attribute (e.g. height-230 cm) (C) A thing that we wish to collect data about zero or more, possibly real world examples of it may exist. (D) A template for a group of things with the same set of characteristics that may exist in the real world

Description : Which of the following provides the best description of an entity type? (A) A specific concrete object with a defined set of processes (e.g. Jatin with diabetes) (B) A value given to a ... template for a group of things with the same set of characteristics that may exist in the real world

Last Answer : Answer: D

Do the highway police in your area try to save lives, or collect money for the government?

Description : Do the highway police in your area try to save lives, or collect money for the government?

Last Answer : answer:In America (in Florida particularly, I suppose), we have entire fleets of unmarked cars whose sole purpose is to hide in plain sight and fine citizens. Yeah, it’s insane.

What was the amendment to the U.S. Constitution approved in 1913 that allowed the federal government to collect a tax on the money that people earned?

Description : What was the amendment to the U.S. Constitution approved in 1913 that allowed the federal government to collect a tax on the money that people earned?

Last Answer : The 16th Amendment to the U.S Constitution allows the government to collect the Income Tax.Prior to this amendment, the federal government made an attempt to to create an Income Tax, and the tax was ... .In response, the Income Tax Amendment was added to the U.S Constitution, making the tax legal.

â€œMy husban and I are raising our two grandchildren which dose not allow me to work, which we now only have one income. I am looking for a grant that will help us get into a home with affordable rent. Please helpâ€?

Description : â€œMy husban and I are raising our two grandchildren which dose not allow me to work, which we now only have one income. I am looking for a grant that will help us get into a home with affordable rent. Please helpâ€?

Last Answer : My husban and I are raising our two grandchildren which dose not allow me to work. We now have only one income. I am looking for a grant that will assist us so that we will be able to get a home that is affordable to rent or rent to own.

What do you think the chances are The President and Congress get rid of mortgage interest and property taxes being a deduction on federal income taxes?

Description : What do you think the chances are The President and Congress get rid of mortgage interest and property taxes being a deduction on federal income taxes?

Last Answer : From what I hear, it is Republicans who are talking about closing “loopholes” and capping deductions more than Democrats. But whether it, or anything will happen, I don’t know. And I doubt it could effect this year’s taxes anyway.

Does anyone think this chart by xkcd should be in schools to help students understand money, taxes, expenses, income and other economic issues?

Description : Does anyone think this chart by xkcd should be in schools to help students understand money, taxes, expenses, income and other economic issues?

Last Answer : answer:Could you post a link to the chart? I think such a chart could be an excellent teaching tool. OTOH, such a chart has quite a potential to be abused as a political tool to skew the ... impartial teaching tool or a way to push the whole evil capitalist world view without actually seeing it.

If a person works two jobs can they file seperate income taxes?

Description : If a person works two jobs can they file seperate income taxes?

Last Answer : answer:Not unless you have two social security numbers. ;-) The payments from the two jobs will be added together. You will have 2 W-2 forms (or 1099 forms) but the amounts will be totaled on your tax form.

Did you know that the general deadline for filing your income taxes this year is April 18, 2011?

Description : Did you know that the general deadline for filing your income taxes this year is April 18, 2011?

Last Answer : I did my taxes early. Thank goodnessss.

Questions about my income taxes?

Description : Questions about my income taxes?

Last Answer : answer:With all the government shutdown talk last week maybe they were worried (some government sites were going to be closed) that it might not get processed with e-file. I would just spend the two minutes to call and ask in the morning.

Do you pay state income taxes or do they refund you like federal income taxes do?

Description : Do you pay state income taxes or do they refund you like federal income taxes do?

Last Answer : The last 4 years, I have had to pay the Feds, and got less money back from the State.

an increase in taxes on labor income shifts the labor supply curve ________ and the ________. -General Knowledge

Description : an increase in taxes on labor income shifts the labor supply curve ________ and the ________. -General Knowledge

Last Answer : B. Leftward; after-tax wage rate falls X.

What online personal income tax software for both federal and state taxes can you recommend?

Description : What online personal income tax software for both federal and state taxes can you recommend?

Last Answer : I recommend online personal income tax software for both federal and state taxes, as well as software to help you file an extension if you need it.cutt.ly/JjWSDSE

Which of the following is the highest income between direct and indirect taxes ?

Description : Which of the following is the highest income between direct and indirect taxes ?

Last Answer : Between direct and indirect taxes, more income is earned indirectly.

What Are the Taxpayer Income Taxes of Individual Taxpayers ?

Last Answer : The following are some of the areas of tax-free income of an individual taxpayer: (a) If a government-employed taxpayer receives a special allowance, benefit or perquisite for performing his job duties ; ( ... . It should be displayed in the tax-free income column in the 18th sequence of the return.

What types of taxes are levied under Income Tax Ordinance , 1984 ?

Last Answer : : Under the Income Tax Ordinance 1974, two types of taxes are levied: 1) Personal Income Tax 2) Corporate Income Tax

Do you pay higher taxes with a higher income?

Last Answer : but it is necessary to define what is meant by the word "income" higher taxable income = higher tax or tax base is the amount by which (total) income exceeds (demonstrable) expenses and deductions from ... -employed and companies can push the base to zero or to a loss, regardless of the total income

From the following information , compute `GNP_(MP) . GDP_(FC)` = ₹ 3, 000 . Net factor income to abroad = ₹ 200 . Indirect Taxes = ₹ 420 , Subsidies =

Description : From the following information , compute `GNP_(MP) . GDP_(FC)` = ₹ 3, 000 . Net factor income to abroad = ₹ 200 . Indirect Taxes = ₹ 420 , Subsidies =

Last Answer : From the following information , compute `GNP_(MP) . GDP_(FC)` = ₹ 3, 000 . Net factor income to abroad = ₹ ... A. 3380 B. 2, 980 C. 3020 D. 2, 620

If net national products is given at Market Prices , we `"____"` indirect taxes and `"________"` subsidies to get National income of the economy.

Description : If net national products is given at Market Prices , we `"____"` indirect taxes and `"________"` subsidies to get National income of the economy.

Last Answer : If net national products is given at Market Prices , we `"____"` indirect taxes and `"________"` ... Divide C. Subtract , Add D. Subtract , Divide

If economic subsidies are added to and indirect taxes are subtracted from the national income at market prices , then it will be equal to :

Description : If economic subsidies are added to and indirect taxes are subtracted from the national income at market prices , then it will be equal to :

Last Answer : If economic subsidies are added to and indirect taxes are subtracted from the national income at ... prices D. Gross domestic product at factor cost

How much taxes is paid on 16368 on social security income?

Description : How much taxes is paid on 16368 on social security income?

Last Answer : My aunt had 23,114 dollars of retirement and 16,368 dollars ofsocial security income.Her social security. Is taxable.How muchwould she have to pay in social security,dollar-wise?

Im on SSDI total income is 10,300.00 do I file taxes?

Description : Im on SSDI total income is 10,300.00 do I file taxes?

Last Answer : I'm on SSDI do I file taxes on $10,300.00 total income

I have Form 1099R in my posession, which Form do I need to file my information in order to receive my federal income taxes withheld?

Description : I have Form 1099R in my posession, which Form do I need to file my information in order to receive my federal income taxes withheld?

Last Answer : I have Form 1099R in my posession, which form o I need to file my information in order to receive my federal income taxes with held?

Will I be able to deduct a portion of my local property taxes from my NY state income tax?

Description : Will I be able to deduct a portion of my local property taxes from my NY state income tax?

Last Answer : No. However, you can deduct property taxes from your federal tax liability.

Does QuickBooks include a program for preparing and submitting an individual's income taxes?

Description : Does QuickBooks include a program for preparing and submitting an individual's income taxes?

Last Answer : QuickBooks does include a program for preparing income taxes for a company but not for individuals. Consider Tax Cut Pro for that capability.

I inherited an IRA from my mother who passed away last year. Do I have to pay taxes on the IRA Does it go directly on my Income Thanks.?

Description : I inherited an IRA from my mother who passed away last year. Do I have to pay taxes on the IRA Does it go directly on my Income Thanks.?

Last Answer : Yes, you will have to pay taxes. You can take the money lump sum and pay the taxes this year, or you can roll it over into an inherited IRA and pay the taxes as the money is distributed. You will be taxed at your normal marginal tax rate.

My ex wife owe over $20,000.00 in back taxes. Years owed 95,98,99, and 2000.I recently filed this missing years and now have a fairly accurate assessment of what we owe. Unable to pay without filing Chapter 7 or 13.Income is stretched to the limit. ?

Description : My ex wife owe over $20,000.00 in back taxes. Years owed 95,98,99, and 2000.I recently filed this missing years and now have a fairly accurate assessment of what we owe. Unable to pay without filing Chapter 7 or 13.Income is stretched to the limit. ?

Last Answer : If she is your ex-wife, you probably aren't liable for her back taxes. Usually, your legal separation agreement will stipulate that you are each responsible for your own taxes. If so, I would think you're off the hook for this.

My girlfriend lives with me in my house and doesn't have an income and I supprt her!! Can I claim her for my taxes as a dependent?

Description : My girlfriend lives with me in my house and doesn't have an income and I supprt her!! Can I claim her for my taxes as a dependent?

Last Answer : No, sorry. You can only claim someone related to you as a dependent.

How long do you have to file any back taxes that where 100.00 or less in total income?

Description : How long do you have to file any back taxes that where 100.00 or less in total income?

Last Answer : you don't have to file taxes if the total income was $100.00.

I'm 76 years old with only social security as income. Is there any breaks and/or assistance on my property taxes If so, how do I go about receiving it Thanks for any info.?

Description : I'm 76 years old with only social security as income. Is there any breaks and/or assistance on my property taxes If so, how do I go about receiving it Thanks for any info.?

Last Answer : I am not sure where you are located, but here in Florida we have a "Homestead Exemption" where you can reduce your property's appraisal by $25,000.00 thus saving on your property taxes ... this application reviewed however in extreame cases the application may turned in within the 30 day time frame.

In What Ways Are Taxes Unfair To The Middle Income Group Than The Low Income Group?

Description : In What Ways Are Taxes Unfair To The Middle Income Group Than The Low Income Group?

Last Answer : The middle income taxer pays for most of the programs and government offices. Lower tax brackets pay too, but at s lesser rate. The people who come out of the tax system the best are the wealthy. They only pay about 15% compared to the middle income earner who is paying 30-35% of their income.

Where do I find income tax return forms for my taxes?

Description : Where do I find income tax return forms for my taxes?

Last Answer : There are many places to find an income tax return form, You can do it online, it is now an option in this day and age. You need to ensure the information is up to date.

How much money will be taken out of my paycheck for income taxes if I get paid minimum wage?

Description : How much money will be taken out of my paycheck for income taxes if I get paid minimum wage?

Last Answer : Working through a financial calculator will help to show the value taken out of your paycheck. This website provides a calculator to view what you should expect can be taken out of your paycheck http://www.moneychimp.com/features/tax_brackets.htm

How much do I have to earn before I start paying federal income taxes?

Description : How much do I have to earn before I start paying federal income taxes?

Last Answer : If self-employment is your only income for the year, the filing threshold is $400 for the entire year. This figure is the total amount that you earned before your have deducted your business expenses. You will need to fill out Schedule C or C-EZ to document self-employment income and expenses.

What are deductions allowed when calculating federal income taxes?

Description : What are deductions allowed when calculating federal income taxes?

Last Answer : The deductions allowed whe calculating federal income taxes are as follow: Mortgage interest, charitable contributions, job expense, miscellanoous expense, medical expense in excess of 7.5 of income, and payment of state and local property taxes.

What happens if you don't pay your federal income taxes?

Description : What happens if you don't pay your federal income taxes?

Last Answer : If you don't pay federal income taxes, eventually you will eventually be investigated by the IRS. From there you will either have the money taken from you, your wages garnished or you may go to prison depending on the severity of the crime.

What is the amount of money a person has left of his or her income after taxes called?

Description : What is the amount of money a person has left of his or her income after taxes called?

Last Answer : disposable personal income

do retirees pay state income taxes in Alabama?

Description : do retirees pay state income taxes in Alabama?

Last Answer : No

What things dose the government collect income taxes?

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