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explain personal and business taxation

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What are the roles of taxation system in business?

role of taxation in business


What is the nature and scope of business taxation?

The nature and scope of business taxation spreads across all the business sectors. Taxation in business is imposed so as business owners can get the privilege of doing business.


How are sole propietorships taxed?

Sole proprietors must report all business income and losses on their personal tax returns. The IRS calls this "pass-through" taxation because the business profits and loss pass through the business to the personal tax return.


What legal form of business organization is most common?

The most common legal form of business organization is the sole proprietorship. This structure is favored for its simplicity, ease of formation, and full control given to the owner. Sole proprietorships also benefit from pass-through taxation, where profits are taxed as personal income, avoiding double taxation. However, this form does expose the owner to unlimited personal liability for business debts and obligations.


That information appliances like PDAs will replace personal computers in business application?

Do you think that information appliances like PDAs will replace personal computers (PCs) in business applications? Explain.


What has the author James C Forman written?

James C. Forman has written: 'Business assessments as a substitute for personal property' -- subject(s): Tax assessment, Taxation


What are the different taxation levels?

This question requires more context. Which country? As different countries have different taxation systems and laws. Personal taxation or company taxation? Here again there are normally different levels of taxation.


Why has the Australian Taxation Office stipulated specific taxation requirements for business documents?

Because they're Gay.


What are limitations of business entity concept?

The business entity concept, which treats a business as a separate legal entity from its owners, has several limitations. Firstly, it may not adequately reflect the personal financial situations of owners, especially in small businesses where personal and business finances are often intertwined. Additionally, this concept can lead to complexities in accounting and taxation, particularly when owners withdraw funds for personal use. Lastly, it may obscure the financial risks associated with owner liabilities in certain business structures, such as partnerships where personal assets can be at risk.


Explain what representation has to do with taxation?

representation has to do with taxation because ,if u want to speak out against a tax law you would have to speak out first


Influence of taxation on a business firm?

its influence by love


Which form of business incurs double taxation?

Corporation