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Ross Martin arrived at the following tax information Gross salary 52145 Interest earnings 205 Dividend income 65 One personal exemption 3900 Itemized deductions 9250 Adjustments to income 1200. What a?
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What is the difference of gross salary between net salary?
Gross salary is the headline salary that an employee is paid prior to any deductions. Net salary is what is actually paid into the employees bank account after deductions, the deductions could include some of the following: * Taxation * National Insurance * Pension Contributions * Union Subscriptions * Student loan repayments For exmple a job might be advertised as paying £20,000 pa, this is the gross salary, however after deductions the employee might receive £14,000 pa, this is the next salary
Which of the following types of taxes paid are not allowable deductions on your tax return?
Any other taxes not included in the below list would NOT be allowable deductions on your individual 1040 income tax return.There are five types of deductible nonbusiness taxes:State, local and foreign income taxesReal estate taxesPersonal property taxesState and local sales taxes, andQualified motor vehicle taxesTo be deductible, the tax must be imposed on you and must have been paid during your tax year.For more information on nonbusiness deductions for taxes, use the search box at the IRS gov website for Publication 17 go to Chapter 22. Taxes
What is the journal entries for salary is paid to him?
The journal entries for salary payments are (Dr = debit, Cr = credit): Dr Salary Expense (P&L) - Gross Salary Cr Expense Deduction A/c (Bal Sheet) - Salary Deductions Cr Cash (Bal Sheet) - Net Salary paid to employee Then when the salary deductions are paid over, usually the following month the entries are: Dr Expense Deduction A/c (Bal Sheet) - Salary Deductions Cr Cash (Bal Sheet) - Salary Deductions
How do you determine how many dependents to claim?
Depends on for what use your speaking of. The amount used on your W-4 may well be different than the amount used on your 1040 filing. You are allowed one exemption for each person you can claim as a dependent. You can claim an exemption for a dependent even if your dependent files a return. The term "dependent" means: * A qualifying child, or * A qualifying relative. The terms "qualifying child" and "qualifying relative" are defined by following the link provided. You can claim an exemption for a qualifying child or qualifying relative only if these three tests are met. # Dependent taxpayer test. # Joint return test. # Citizen or resident test. These three tests are explained in the information in the link.
Who are the user of accounting information system?
Following are the users of accounting information systemmanagementemployees etc.
What you earn from a PGA tour win?
A two year exemption on the tour, an exemption to the following year's Masters and obviously, anywhere from $800,000 to $1.3 million in winnings.
When driving at highway speeds you must make adjustments to what?
The distance behind the car you are following
When was the law repealed that prohibited Congress from raising their own wages?
The following information was furnished to me by Senator Cantwell: The 1989 Ethics Reform Act created automatic adjustments to the salaries for Members of Congress based on the Employment Cost Index.
What can you deduct on your tax return?
Go to www.irs.gov and use the search box for Tax Topics - Topic 500 Itemized Deductions The following topics are found in the category of Itemized Deductions. Each topic is followed by a corresponding number. To access your topic, select the three-digit number.http://www.irs.gov/taxtopics/tc500.htmlPublication 529 (2009), Miscellaneous Deductions
Receiving Deductions as an Artist?
If you are an artist, then do not forget to take certain deductions in the following year. Artists are able to enjoy great savings on the supplies they purchase for their business. Also, an artist should be sure to inquire about any deductions he or she can enjoy at the state level. There are plenty of deductions one can enjoy, such as the cost of buying canvas or paint brushes. Artists will also be able to deduct a substantial portion for the expenditures they have on painting supplies. Painting supplies are a major expense that artists face and can have reimbursed.
Us taxpayers are allowed to deduct certain expenses from their total income before paying federal incometaxes?
Go to the IRS.gov website and use the search box for Tax Topics - Topic 500 Itemized Deductions the following topics are found in the category of Itemized Deductions. Each topic is followed by a corresponding number. To access your topic, select the three-digit number.Publication 529 (2009), Miscellaneous Deductions
What is the difference of gross salary between net salary?
Gross salary is the headline salary that an employee is paid prior to any deductions. Net salary is what is actually paid into the employees bank account after deductions, the deductions could include some of the following: * Taxation * National Insurance * Pension Contributions * Union Subscriptions * Student loan repayments For exmple a job might be advertised as paying £20,000 pa, this is the gross salary, however after deductions the employee might receive £14,000 pa, this is the next salary
FOUO information can include the following except what?
Finance information
Which of the following types of taxes paid are not allowable deductions on your tax return?
Any other taxes not included in the below list would NOT be allowable deductions on your individual 1040 income tax return.There are five types of deductible nonbusiness taxes:State, local and foreign income taxesReal estate taxesPersonal property taxesState and local sales taxes, andQualified motor vehicle taxesTo be deductible, the tax must be imposed on you and must have been paid during your tax year.For more information on nonbusiness deductions for taxes, use the search box at the IRS gov website for Publication 17 go to Chapter 22. Taxes
What is the journal entries for salary is paid to him?
The journal entries for salary payments are (Dr = debit, Cr = credit): Dr Salary Expense (P&L) - Gross Salary Cr Expense Deduction A/c (Bal Sheet) - Salary Deductions Cr Cash (Bal Sheet) - Net Salary paid to employee Then when the salary deductions are paid over, usually the following month the entries are: Dr Expense Deduction A/c (Bal Sheet) - Salary Deductions Cr Cash (Bal Sheet) - Salary Deductions
Which one of the following best describes volcanism in the Andes Mountains of South America?
When the following information is not given people will not be able to know which describes the volcanism. The information on what the following is should be included.
How do you determine how many dependents to claim?
Depends on for what use your speaking of. The amount used on your W-4 may well be different than the amount used on your 1040 filing. You are allowed one exemption for each person you can claim as a dependent. You can claim an exemption for a dependent even if your dependent files a return. The term "dependent" means: * A qualifying child, or * A qualifying relative. The terms "qualifying child" and "qualifying relative" are defined by following the link provided. You can claim an exemption for a qualifying child or qualifying relative only if these three tests are met. # Dependent taxpayer test. # Joint return test. # Citizen or resident test. These three tests are explained in the information in the link.
