Taxes and Tax Preparation

What are the direct taxes?

Be the first to answer!

Related Questions

1. The allocative effects of direct taxes are superior to those of indirect taxes. 2. Direct taxes are progressive and they help to reduce inequalities. 3. The administrative costs of direct taxes are more than that of indirect taxes. 4. Direct taxes are more flexible than that of indirect taxes. 5. Indirect taxes are more growth oriented than direct taxes.

There are several different types of direct taxes. Some of these types of taxes include the taxes that are deducted from your paycheck, and your property taxes.

The difference between direct taxes and indirect taxes with examples is that direct taxes come directly from a person's income or personal property taxes. Indirect taxes comes from sales and excise taxes.

Direct Taxes- Income tax, Wealth tax, Gift tax, Corporation taxThese taxes are considered as direct taxes because such taxes are borne by the person on whom it is imposed and the burden of such taxes cannot be shifted from the payer to the bearer.Indirect Taxes- Sales tax, Excise duties, Custom duties, Entertainment taxThese taxes are considered as indirect taxes because the burden of such taxes can be shifted from the payer to the bearer

Direct tax is taxes that you pay directly to the government out of your paycheck. Indirect tax is when you pay taxes to someone else and they turn it into the government.

Direct taxesNo, direct taxes are allowed..specifically in fact.In the United States, Article I, Section 9 of the Constitution requires that direct taxes imposed by the national government be apportioned among the states on the basis of population. After the 1895 Pollock ruling (essentially, that taxes on income from property should be treated as direct taxes) this provision made it difficult for Congress to impose a national income tax that applied to all forms of income until the 16th Amendment was ratified in 1913. After the Sixteenth Amendment, no Federal income taxes are required to be apportioned, regardless of whether they are direct taxes (taxes on income from property) or indirect taxes (all other income taxes)

They had never paid direct taxes in the past.

advantages of direct taxes: 1. get a life

A direct tax is one that is taken directly from the individual, such as income tax. Indirect taxes, such as sales tax, are collected by merchants and taken from the consumer. Indirect taxes also lead to inequalities while direct taxes do not.

The most direct effect of poll taxes and literacy tests on African Americans was to prevent them from voting. Poll taxes were part of Jim Crow laws.

Central Board of Direct Taxes (CBDT) advises the Central Finance Minister

Direct taxes are illegal in the united states unless everyone is taxed at the same rate.

As many people know, the state and federal government level taxes are the direct form of taxation;for example, corporate taxes are another form of direct tax--those taxes levied against income earned by corporations. soc sec , medicare, estate and gift taxes are more types of direct tax, as is the income tax charged by the state you live in. The simple definition of a direct tax is one that you have no choice in paying.

Disadvantages of Direct TaxInconvenient:Direct taxes are inconvenient because there are very complicated procedure for filling of returns and the taxes to be paid by the taxpayer in lump sum.Disliking:The taxpayers do not like direct taxes. They feel that their hard earned money is going to government.Lump Sum:Direct taxes are to be paid in lump sum in every year. So it is very difficult for taxpayer to pay a large so of money in one installment.Evasion:Direct tax can easily be evaded. The taxpayers often submit false statements of his income and thus tries to evade tax and the revenue of state may be reduced.Reduction in Savings:Due to direct taxes, rate of savings is reduced because a large part of income goes to the government.Arbitrary:The direct taxes are arbitrary as the state of taxes is changed arbitrary by the government. The rate of tax is changed from time to time.Protest:The tax payer may protest against any rise in the tax.Category: Tax

type of taxes, when/how is this applied, how to calculate thisProperty taxes are taxes imposed by the cities in your state, income tax is imposed by the Internal revenue Service, where the amount is cintigent upon your income

Direct taxation is defined as the tax which is directly levied on the citizens of a country. All individuals and business concerns have to pay direct taxes to the government on a regular basis. These direct taxes are calculated on every source of income that accrues to the business of individual.On the other hand, the citizens of a country are charged certain levies indirectly as well. These indirect levies are known as indirect taxes. These are the taxes payable on an activity or a commodity. Some common examples of indirect taxes are sales tax and excise tax.

central board of direct taxes

A direct tax is a tax that is paid directly to the government by the person who is working. An indirect tax is when a person pays taxes to a store and then the store has to pay the taxes to the government.

direct taxes and indirect taxes(includes customs) -- both at state level and federal level.

If you're referring to income taxes, direct costs are easier to allocate.

Yes, as long as you have not consolidated through Direct previously.

Indirect taxes are a form of cost that goes into the final cost of the end product. Direct taxes paid would be sales taxes and such, but indirect taxes would be taxes paid by the manufacturer of goods that ultimately goes into the cost of goods sold.

Direct taxes cannot be shifted from one individual to another. These are taxes that are imposed on an individual person like the income tax. Such taxes cannot be passed on.