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Which firm do you refer to?? Reg C corp, S corp, LLC, or LLP???
A regular corporation , I mean a C corporation, is taxed as a separate entity under the tax laws. Income earned by a corporation is normally taxed at the corporate level using the corporate income tax rates shown in the table below, and the corporation must file a Form 1120 each year to report this income.
After the corporate income tax is paid on the business income, any distributions made to stockholders are taxed again at the stockholders' tax rates as dividends. Because of these two levels of tax, a regular corporation may be a less desirable form of business than the other business entities (sole proprietorships, partnerships, limited liability companies, or S corporations). This may be true even though regular corporations are taxed at lower tax rates on their first $75,000 in income.
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What are the Appliance repair firms tax consultants law firms and insurance companies are all business firms that are part of the?
Service Sector
What are some examples of items that cause deferred tax assets or deferred tax liabilities?
Examples of items that can cause deferred tax assets include net operating loss carryforwards, tax credits, and deductible temporary differences such as depreciation or bad debt expense. Examples of items that can cause deferred tax liabilities include taxable temporary differences such as accelerated depreciation or prepaid revenues. Additionally, changes in tax rates can also give rise to deferred tax liabilities or assets.
What are your tax liabilities if you inherited 10000 dollars?
Zero, assuming that the $10,000 is cash.
Can The Agribusiness Statistics data you supply be used to determine tax or levy liabilities of a certain farm owner?
1. can the agribusiness statistics data i supply be used to determine tax or levy liabilities of a certain farm owner?
As an corporation, am I responsible or liable for depositing employment tax?
Yes, you are responsible for depositing employment tax. The liabilities for the tax are split between the corporation and the business owner
A firms long term assets equals 75000 total assets equals 200000 inventory equals 25000 and current liabilities equals 50000?
Assets: Inventory 25000 Other current assets 100000 Long term assets 75000 Total assets 200000 Liabilities: Current liabilities 50000 Long term liabilities 150000
Can you recommend accounting firms that can check my tax record?
There are a few different accounting firms which will double check finances. One of the most famous firms is H & R Block. Not only will they handle finances, but also aid in tax preparation. Ernst & Young is another firm which may help in reviewing finances and tax files.
What is meant by 'deferred tax liabilities'?
Essentially, they are taxes that are 'deferred' to a later time. Tax Liabilities are typically taxes you are required to pay on income, or profit, you have obtained. Being able to 'defer' them is a means by which you are allowed to push them off until a future date when your tax 'status' would place you in a tax bracket that withholds less taxes from your income (as in when you retire).
How does fixed sum tax affect firms fixed cost?
they don't
What are the benefits and risks of firms issuing bonds offshore?
Tax reduction and diversification of investment are the benefits of the firms issuing bonds offshore.
What is common size balance sheet?
A common size balance sheet is a type of standardized financial statement that completely lists all of a firms specific assets, liabilities, and equity claims as a percentage of a firms total assets.
Why a company issue a debit note or credit note?
The debit note is an asset it comes to the firms in the result of providing services and get a promise to settle this amounts later. The firms issues debit note for: 1- facilitate and increased sales 2- competitions. 3- to get new customer. The credit note is a liabilities the firm should be payed. The firm issued credit note for several reasons: a- to finance activities b- for tax purposes witch's , the firm will pay less tax when he borrow from out side.
