0
4 How is it possible to have taxable income which means a property is profitable yet have negative cash flow?
Wiki User
∙ 13y ago
Income is not the same thing as retained earnings. A company may have a profit in revenue but show a net-loss in retained earnings. Gross Income (revenue) is what a company makes, Net Income (revenue) is the balance after all expense are paid, and Retained Earnings is the actual "profit or loss" a company retains after any dividends to stockholders are paid (if applicable).
For example, say a company has an income of $15000, taxes are figured usually on the full amount, say taxes are 16% and the company has total expense of $14000. To figure their "retained" earnings, we figure Tax expense $2400 + $14000 (other expense) = $16400 (total expenses)
Revenue $15000 - Total Expenses $16400 = (-$1400) loss
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
If you sell personal property on craigslist is that money taxable income?
Yes
Is inheritance from a trust taxable?
YES it is possible that you could receive some taxable income from the trust that you would have to report on your 1040 federal income tax return.
Is gain on sale of rental property taxable to a non resident of New York state?
Yes, both at the Federal and State levels. Your business activity made you taxable on this, and possibly other income, too NYS whether you reside there or not.
Do you have to file taxes on retirement in Virginia?
Yes and it is possible for some of the retirement income to be taxable income in Virginia.
What is income property good or service is subject to tax called?
Income property, goods or services that is subject to tax is called the taxable portion. This is usually based on a percentage of the value and other criteria.
What is the point of an estate tax credit?
Estate tax credit has to do with the amount of property that is taxable from a deceased person, and/or with any other possible transference of property.
What if you have negative equity in property bankruptcy?
Yes, you will lose the property but just may escape ahving to pay for the amount of negative equity....and also may avoid the tax effect of the extra debt being discharged (cancellation of debt is taxable income).
Is gratuity taxable?
Yes the amounts are property, etc received would be taxable income to the receiver of the gratuity.
In a county who appraises taxable property?
county assessor
If you sell personal property on craigslist is that money taxable income?
Yes
Is notice pay recovery amount taxable?
Yes it is possible that have some taxable income for a pay recovery, and if you have received such a notice saying that it is a taxable recovery amont, yes, it would be taxable income.
Do you have to pay capital gains tax on the sell of an inherited property in State of Virginia on full sell price or is the assessed value of the property at the time of inheritance exempted?
This is possible and it will NOT be the assessed value that will be used to determine the taxable amount if any after the income tax return is completed correctly.
When governments calculate the value of real property it is called?
When governments calculate the value of real property, it is known as assessment. That assessment is utilize to calculate the taxable amount on a particular property.
Is gain on sale of rental property taxable to a non resident of New York City?
Yes
Is inheritance from a trust taxable?
YES it is possible that you could receive some taxable income from the trust that you would have to report on your 1040 federal income tax return.
What is taxable in Texas?
For sales tax purposes, all tangible goods are taxable unless there is an applicable exemption, e.g. manufacturing equipment. A seller should assume the goods are taxable and charge tax unless an exemption certificate is accepted in good faith. In addition to tangible goods being taxable, Texas imposes sales/use tax on a host of services including information and data processing services, repair and remodeling to tangible personal property as well as real property, certain personal services, waste removal, amusement, telecommunications, etc. The rule of thumb is that tangible goods are taxable unless there is an exemption, whereas services are not taxable unless they have been specifically enumerated as taxable by the legislature.
Is earnest money taxable?
Earnest money is not taxable if it is forfeited due to a breach of contract by the buyer. However, if the earnest money is applied towards the purchase price of the property, it is typically not taxable. It's always best to consult with a tax professional for specific advice based on your situation.
