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You mean compared to being an unnatural as in a Corporation I guess?
The corporate tax rate is higher than the personal rate - a 35% fixed amount.
The profits of a corporation are distributed as dividends AFTER being taxed, and are then taxed as personal income by the one receiving them.
Accounting can be much more complex for non naturals
Corporations do not have the benefits of estate tax and it's liberal exemptions upon ceasing to exist.
(Although certain types of entities may be used to mitigate these problems - notably Sub Chap S corps, and other pass through type entities).
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What are the benefits of being an independent contractor?
The main benefit of being an independent contractor is freedom. Other benefits include tax benefits.
What are the benefits of being a self employed tax calculator?
If a person is self-employed there are expenses and allowances that can be claimed to reduce the amount of income tax paid. These expenses can be claimed for the current tax year and the previous four years.
Does owning a condo allow tax benefits?
Owning any property will offer a tax benefit. There a differences in the benefits you would get for a condominium that you are living in versus one that you are purchasing to rent or lease to another person, but there are benefits for both.
What are the benefits of being a werewolf?
you're not expected to pay sales tax or register to vote.
What is the difference between tax planning and tax management?
1.tax planning is a wider term and tax management is narrow term which is a part of tax planning. 2.tax planning emphasizes on tax minimization whereas, tax management is compliance of legal formalities . 3.every person does not requires tax planning but tax management is essential for everyone. 4.tax planning is about future benefits and tax management is about present benefits.
Who is deductee?
Deductee is the person, from whom the tax is being deducted.
What are some benefits of tax free investments?
There are plenty of benefits of tax free investments. However, the best benefits of tax free investments is getting more profits and not have to pay tax for those profits.
How much tax deduction for 2009 unemployment benefits?
Under the American Recovery and Reinvestment Act, enacted last month, every person who receives unemployment benefits during 2009 is eligible to exclude the first $2,400 of these benefits when they file their tax return next year.
Do you have to pay federal income tax on widow benefits if 66 years old and still working?
Yes, widow benefits are subject to federal income tax if your total income exceeds a certain threshold. The fact that you are still working at 66 years old does not exempt your widow benefits from being taxed. You may need to consult with a tax professional to determine how much of your benefits are taxable.
How can ltc benefits be received tax free by an individual?
in any case benefits are tax free
How would you describe a tax is assessed according to the benefits-received principle?
those who receive the benefits the tax provides are the people who pay the tax
How would you describe a tax that is assessed according to the benefits-received principle?
those who receive the benefits the tax provides are the people who pay the tax
