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Tax is a compulsory payment imposed by government on every citizen of a country.Every one have to pay different taxes to government.there are two basic type of taxes.
1=Direct tax.
2=Indirect tax.
(Direct Tax)Taxes imposed and collected by the same person,are called direct taxes e.g. Income tax,property tax,wealth tax.
(Indirect Tax)Taxes imposed on one person but collected by some other person are called indirect taxes e.g. Sales tax,Central excise duty.
What else can I help you with?
What are the various types of tax planning?
One is hiring someone to do it for you which I recommend
What is annual tax?
Annual tax can be define as the amount of money that you are being taxed per year.
what kind of test questions are asked on a tax test qualify as tax preparer?
You should be given real tax forms and case studies of various types of tax returns to be done on the tax forms with paper and pencil and a calculator. Even though you will be doing actual returns on the computer using tax software, they want want you to learn the theory behind the tax software. How do I know this? I am a tax preparer.
What kind of tax forms are there?
There are several types of tax forms, primarily categorized into individual, business, and informational forms. Individual tax forms include the IRS Form 1040 for personal income tax returns, while business forms such as Form 1120 are used by corporations. Informational forms like 1099 report various types of income other than wages, salaries, and tips. Additionally, there are state-specific forms and forms for different types of tax situations, such as self-employment or capital gains.
Define deferred tax?
Deferred tax is the future tax liability or assets. It could either be tax liability or tax assets totally depending on the temporary difference which means the difference between book value and tax valued.
What is a statutory exemption?
An exemption is something that is excluded. In taxes, there are various tax exemptions and types of income that are exempt from tax. There are also certain types of organizations that are exempt from tax.
What are the various types of tax planning?
One is hiring someone to do it for you which I recommend
What is tax regime in oracle EBS R12?
In Oracle EBS R12, the tax regime refers to the set of rules and regulations governing how taxes are applied to transactions within the system. It allows organizations to configure tax rules based on jurisdiction, product types, and business operations, ensuring compliance with local tax laws. The tax regime includes features for managing various tax types, calculating tax amounts, and generating tax reports, making it essential for effective financial management and reporting. Users can define multiple tax regimes to accommodate different business units or geographical locations.
The types of Taxes Explain the tax implications under each 19 of them?
you dont have to pay taxes if you sell weed
What types of tax are levied on the citizens of South Africa?
VAT - Value added tax Personal Income Tax Company Tax Capital Gains Tax
What are the positive purposes of having a(n) tax class?
A tax class is a class that will teach you about different types of taxes and all the tax laws. The positives of a tax class are to make people aware of the various taxes and laws in our country.
What is annual tax?
Annual tax can be define as the amount of money that you are being taxed per year.
Which of these is NOT a type of tax?
Please mention the types here that you want to know are not a tax. There are many types of taxes such as property tax, income tax, sales tax and road tax.
Using Forbes Tax Software?
Using Forbes Tax Software can help give you power when it comes to filing and preparing your tax returns. It has options and templates to help you file everything from personal tax, partnership tax, payroll, corporation tax and trust and estate tax. You no longer have to wonder how to file various types of taxes.
How do economists define saving?
That part of after-tax income which is not consumed.
What are the types of tax audit?
from my view and what i learned, there is only two types of tax audit that includs (a) desk tax audit (b) field tax audit
What is the maximum sales tax on a used car in Illinois?
explain type of tax
