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if consumers are receiving a low income then
Progressive
substitution diminishing marginual utility income
The rich do in fact pay a higher percentage of their income in income tax, because we have a progressive income tax based on six different tax brackets, where the higher your income is the higher a percentage tax bracket you will be in. Depends on which country you're in. In the US, this is not the case.
GNP is higher when there is more income generated from Americans on our land and abroad then there is by the income generated domestically alone.
Yes.
Yes even if you do it for cash.
It depends on the business. If the company is in the business of renting apartments, then it would be operating income. But on the contrast if the company is renting out an extra room for some extra cash than no.
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When you are renting it out as a business.
Gross income in normally higher then net income unless there is other income then normal business operations then net income may be higher then gross income.
If you made money on the rent you will need to claim it as income.
Some people forget about the war and buying items
Yes rental income and expenses would be reported on the schedule E of the 1040 tax form.There are special rules relating to the rental of real property that you also use as your main home or your vacation home. For information on income from these rentals, or from renting at an amount less than the fair market value, refer to Topic 415, Renting Residential and Vacation Property (formerly Renting Vacation Property and Renting to Relatives).Go to the IRS gov web site and use the search box for TOPIC 415Click on the below Related Link
The higher your income, the higher percentage you pay.
Taxable income is the income your taxes are based on in your federal and state income tax returns. This website explains it. en.wikipedia.org/wiki/Taxable_income
these are expenses which are deducted from the income of a business and reduce their amount of taxable income. for example, the cost of a renting a store will be deducted from a stores profit.