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What are differed taxes?
I think you mean "deferred taxes." These are taxes that do not have to be paid immediately but can be put off to a future time.
Do you pay taxes on 401k?
Generally, your contributions aren't taxed (put in before taxes), and your withdrawals are taxed.
How do you take taxes out of tip money?
You will need to deduct your own taxes from cash tips. You can do this by picking a certain percentage to take out and then put it in a safe or a bank account in case you have to pay in taxes for the year.
Can you put yourself as a dependent in your taxes?
In effect, that is what you are doing when you take the exemption for yourself when you pay taxes. You are "dependent" upon yourself. You are expected by the IRS to take your personal exemption.
What are the objectives and importance of tax planning?
It optimizes how you pay taxes. It will put your money where it actually belongs
What are the three why countries put up trade barriers?
1. Shipping Quotas 2. Subsdizing goods made in their own country 3. Import Taxes (Tarrifs)
How did the colonies respond to new taxes?
Many of the British taxes mad the colonists angry. One tax that really made the colonist angry was the stamp act which put a tax on all paper goods such as newspapers. The taxes were a causing factor of the American Revolution.
What are the advantages and disadvantages of evat in the Philippines?
The manufacture of goods and exploitation of resources in the Philippines for sale to other country's put it in a position to be able to trade with other country's for goods that are not available locally.
How did president Hoover try to slow down the sale on foreign goods?
He tried to put taxes on european goods, so that the consumption would raise, within US, so that the money didnt leave US, but stayed within. But it was a failure to do so, cause Europe fought back, by raising the taxes on US goods, which lead to no one wanting to import goods from the US.
What was the townshead act?
When the British put taxes on all imported goods. Also the British could check up on the colonist when ever they wanted to.
What is a punishment put on another country that stops trade?
Taxes increase how much things cost from a different country, thereby slowing trade. But completely refusing to trade with another country is an embargo. Such as the U.S put on Cuba
What countries does australia export goods to?
Australia will export goods to any country in the world that has not had some sort of embargo put on it by the UN. or in some cases the USA.
How did great Britain try to control the American colonies after the french and indiain war ended?
They put taxes to pay off war debit and when that happened colonist got angry and protested therefore they took the taxes off but years later they put taxes on paper goods leading to the colonist throwing tea off the Boston Harbor
Why should you not buy smuggled goods?
Lots of reasons:You don't want to put your money in the hands of crooksThey are often stolen to begin withThe goods can be confiscated if the appropriate taxes have not been paidIn most cases the law makes it illegal to sell or to buy smuggled goods.
Why were colonies so important to a mercantilist economy?
The goal of a mercantilist economy was to support the parent country and make them more money. Colonies were used to get raw materials shipped back to the parent country so they could produce goods and sell them for money. The parent country also made money on the taxes they put on everything that had to be shipped to them from the colonies before they could be shipped somewhere else.
What is the difference in the Townsend Act and The Stamp Act?
The Townshend Act put taxes on goods, like tea, glass, lead, and paints, that are imported from Britain. The Stamp Act put a tax on anything that is printed on paper.
Can you be put in prison for not filing taxes?
That would depend on the laws in your country and the reason why taxes were not filed. Most legislatures will sanction people for not paying the correct taxes and may imprison people if non tax payment is fraudulent or willful.
