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Do you have to file a tax return on a business with no money earned?
Yes. Plus in business losses from onw year can be used to offset income in another.
What are some factors affecting the amount of income tax you owe?
the amount you made plus the dependents claimed, amount of interest, charitable donations, medical, business expenses.
Net income is equal to your gross income plus taxes?
That would do it for me, but unfortunately for me my net income is equal to my gross income minus taxes.
Why is depreciation an adjustment to net income in the operating activities section of the standard statement of cash flows?
When you start from net income to calculate the operativ cashflow you have to (1) add (substract) all operativ expenses (income) that appear in the income statement but did not result in cash in- or outflow, and (2) add (substract) all operativ cash inflow (outflow) that were not income (expense) and thus not recorded in the income statement. The net income plus all these adjustments equals the operativ cashflow. Depreciation were recorded in the income statement as an expense but it did not result in an cash outflow. You have to add it therefore to the net income. The method described above is the indirect method to calculate the operativ cash flow.
Does a 401k early withdrawal have to be counted as earned income?
Yes it is income, plus you will be assessed a penalty.
Differentiate between national income at market price and national income at factor cost?
National income at factor cost is the measure of national income or output based on the cost of factors of production.This allows the effect of any subsidy or indirect tax to be removed from the final measure. National income at market prices is the total income receivable plus taxes on production and imports less subsidies.
what national income?
National income is defined as the total value of all the goods and services produced within a country plus income coming from abroad in a particular time period usually 1 year.
Do you have to file a tax return on a business with no money earned?
Yes. Plus in business losses from onw year can be used to offset income in another.
How national income is calculate?
It is the total value of all the goods and services produced within a country plus income coming from abroad in a particular time period
When WE will plus the total goods and services and summed up it is GNI or GDP?
It is called GNI(GROSS NATIONAL INCOME)
What businesses pay this tax on profits earned?
All business operations pay taxes of all kinds plus income taxes on the net profit from the business operation.
If a pregnant woman is married to a business owner can she qualify for Medicaid?
Yes, if the husband is absent from the household (the State will pursue him for medical support) or is present but net income from business plus other household income is less than the Medicaid standard for that State.
What is nominal national income?
National income is defined as the total value of all the goods and services produced within a country plus income coming from abroad in a particular time period usually 1 year.
What are the dollar amounts for determining tax brackets?
It depends on the filing status. For 2008: (Tax Rate Schedule X) * 10% on income between $0 and $8,025* 15% on the income between $8,025 and $32,550; plus $802.50* 25% on the income between $32,550 and $78,850; plus $4,481.25* 28% on the income between $78,850 and $164,550; plus $16,056.25* 33% on the income between $164,550 and $357,700; plus $40,052.25* 35% on the income over $357,700; plus$103,791.75(Tax Rate Schedule Y-1) * 10% on the income between $0 and $16,050* 15% on the income between $16,050 and $65,100; plus $1,605.00* 25% on the income between $65,100 and $131,450; plus $8,962.50* 28% on the income between $131,450 and $200,300; plus $25,550.00* 33% on the income between $200,300 and $357,700; plus $44,828.00* 35% on the income over $357,700; plus$96,770.00(Tax Rate Schedule Y-2) * 10% on the income between $0 and $8,025* 15% on the income between $8,025 and $32,550; plus $802.50* 25% on the income between $32,550 and $65,725; plus $4,481.25* 28% on the income between $65,725 and $100,150; plus $12,775.00* 33% on the income between $100,150 and $178,850; plus $22,414.00* 35% on the income over $178,850; plus$48,385.00(Tax Rate Schedule Z) * 10% on the income between $0 and $11,450* 15% on the income between $11,450 and $43,650; plus $1,145.00* 25% on the income between $43,650 and $112,650; plus $5,975.00* 28% on the income between $112,650 and $182,400; plus $23,225.00* 33% on the income between $182,400 and $357,700; plus $42,755.00* 35% on the income over $357,700; plus$100,604.00
What is the description of the Gross National Product?
the value of all final goods and services produced within a nation in a given year plus income earned by its citizens abroad, minus income earned by foreigners from domestic production
What is the best description of the gross national product?
the value of all final goods and services produced within a nation in a given year plus income earned by its citizens abroad, minus income earned by foreigners from domestic production
What are some factors affecting the amount of income tax you owe?
the amount you made plus the dependents claimed, amount of interest, charitable donations, medical, business expenses.
