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What else can I help you with?
Are TReasury I bonds taxable?
Treasury Notes, Bonds and such are direct obligations of the US Government. The interest on these is taxable by the Federal government but is exempt from all State and Local taxes. You should receive a form 1099-INT stating the amount of income in box 3 to include on your return. See the link for more indepth info...especially page 11.
Why should you keep records of income tax?
You should keep records of your income tax to prove you did it correctly if questioned later.
Who should create the journal entry for interest income?
debit interest receivablecredit interest income
Do I have to pay taxes on my retirement?
Yes, you have to pay taxes on your retirement at a rate determined by your retirement income, which should be much lower than your working income. Yes, you have to pay taxes on your retirement at a rate determined by your retirement income, which should be much lower than your working income.
What journal entry should be passed when compay purchase shares?
[debit] treasury stock [credit] cash / bank
Why should you track and record you spending and income?
We can do it
Assume the cost method is used to account for treasury stock What should the gain on the sale of treasury stock be classified as?
According to US GAAP, any gains in the sale of treasury stock cannot be recognized as income throught the income statement but must be run through paid in capital.
Should Treasury be capitalized in secretary of the Treasury?
Yes, and so should the word secretary, so it would be "Secretary of the Treasury".
How do you treat unrealised foreign exchange gain or loss?
Unrealized foreign exchange gain or loss should be entered as Earnings Before Interests and Tax. To calculate, subtract operating expenses from operating revenue. Add any non-operating income for the total.
Is xxva benef us treasury 310 1010 taxable?
Yes, benefits received from the U.S. Treasury, such as those labeled as "xxva" or similar, are generally considered taxable income. Recipients should report these benefits on their federal income tax returns. It's advisable to consult IRS guidelines or a tax professional for specific tax implications related to individual situations.
Where should you invest these days to get safe monthly income?
All the financial advisors recommend that you try Municipal bonds. They currently have better yields than Treasury bonds, and money market accounts.
Should Treasury Department be capitalized?
Yes, "Treasury Department" should be capitalized because it is a proper noun referring to a specific government agency.
How should I create a journal entry to record an income tax refund?
To create a journal entry for recording an income tax refund, debit the cash account for the amount of the refund received and credit the income tax refund account. This will accurately reflect the increase in cash and the corresponding decrease in the income tax refund liability.
When do you capitalize the t in treasury?
The "T" in "treasury" is capitalized when it is part of a proper noun, like in the name of a specific treasury department or office (e.g., U.S. Treasury). Otherwise, in general use, "treasury" is written with a lowercase "t."
Are TReasury I bonds taxable?
Treasury Notes, Bonds and such are direct obligations of the US Government. The interest on these is taxable by the Federal government but is exempt from all State and Local taxes. You should receive a form 1099-INT stating the amount of income in box 3 to include on your return. See the link for more indepth info...especially page 11.
The government should eliminate state income taxes.?
The government should eliminate state income taxes.
If the annual rate of interest on a 2 year treasury bond is 10.5 and the rate on a 1 year treasury bond is 12 what rate of interest should you expect on a 1 year treasury bond one year from now?
ANSER=12
