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Can we pay tax in advance?

Updated: 9/15/2023
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14y ago

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Sure, in fact you normally must. Most all, and certainly income tax have the requirement you make estimated tax payments through the year (for employees this is done through the payroll withholding). You then square up after the result is really known. I think its also fair to say that ant jurisdiction would be happy to accept your money whenever you want to give it to them.

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Meaning Advance Payment Tax?

Advance payment of tax means to pay tax along with the earning of his income this tax is paid on the current year income in the same year .In fact, it is paid as advance and it is called advance payment of tax


What do you understand by advance tax payment did government provide any special bonus on advance payment of tax-?

Advance tax payment is the type of tax that citizens pay at receipt of their salary, or before the year ends. The government do not give special bonuses on the tax.


Can you pay your council tax yearly in the UK?

Yes, but you have to pay all of it in advance in April if you choose not to pay it in 10 instalments.


Can you prepay property taxes?

Call your local treasurer's office and ask if you can pay taxes in advance. Many will allow you to pay a year in advance and will either credit or bill you for the difference if the tax rate changes or property value changes. Many people want to pay their taxes in advance for income tax reasons.


Advance tax vs tax at source?

Estimated tax payments and tax at source are basically the same in the pay taxes as you pay these taxes when you receive income and then you get a credit on your 1040 income tax return for the advance estimated taxes that have been paid or withheld at the source of the income. If too much is paid in advance you will receive a refund of the over over paid amount. If NOT enough was paid in advance then you owe some additional amount when you have completed your 1040 income tax correctly and have it ready to send to the correct IRS address.


I know I must pay capital gains taxes but do I have to pay before I can get my profits?

A capital increases charge is a duty on the benefit that a financial backer makes from the offer of a venture like stock offers. On capital gains, advance tax must be paid. However, in order to pay his advance tax installment, one cannot accurately estimate the capital gain advance. Therefore, if a taxpayer has a capital gain after the advance tax installment due dates, the tax on that gain must be paid in the remaining installments.


Why an employee paid income tax?

so next time they don't have to pay it, its paying in advance


Will you have to pay back this tax rebate?

NO. ACTUALLY YES.. THE REBATE IS BASED ON A ONE-TIME TAX CUT. IT IS ONLY AN ADVANCE ON YOUR 2008 RETURNS. No. The CNN article that made this claim was edited, and no longer mentions the "advance, not rebate" position.


What does the term PAYE mean to persons who work in the United Kingdom?

PAYE is pay as you earn. Tax and other stoppages are taken from your wages/salary before you receive your income in advance for the tax you are required to pay the government.


What do you understand by advance tax payment did government provide any special bonus on advance payment of tax?

Advance tax payment is paying of tax to the government in advance, before the year ends. The government do not provide special bonuses.


How do you treat interest on advance payment of tax in financial statements?

there is no interest on advance payment of tax


What are the effects of advance payments?

Advance payment of tax means to pay tax along with the earning of his income this tax is paid on the current year income in the same year .In fact, it is paid as advance and it is called advance To juxtapose is to bring two items together. In a novel they use this in character dynamics. For example by juxtaposing the protagonist of the book with the antagonist it create Advance payment of tax means to pay tax along with the earning of his income this tax is paid on the current year income in the same year .In fact, it is paid as advance and it is called advance... To juxtapose is to bring two items together. In a novel they use this in character dynamics. For example by juxtaposing the protagonist of the book with the antagonist it creates tension, interest,... If you meet the rules under Who can get the advance payment of the earned income credit , give your employer a Form W-5, Earned Income Credit Advance Payment Certificate, for 2010.After you have read... I assume it means that the landlord would like a months rent up front. So, for example, you move into a house in March, and he would want you to pay March twice, once for the actual month, and...