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it is equitable

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12y ago

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The largest proportion of federal revenues comes from A excise taxes B borrowing C personal income taxes D social insurance taxes?

Personal income taxes


Define earned income taxes and personal income taxes?

An individual taxpayer using the 1040 federal income tax return earned income worked for income and the related income taxes and the personal income taxes would be the same thing on the 1040 income tax return.


To calculate disposable personal income you take personal income and subtract what?

individual income taxes


Which two sources of state revenue are taxes on income?

The two primary sources of state revenue that involve taxes on income are personal income taxes and corporate income taxes. Personal income taxes are levied on the earnings of individuals, while corporate income taxes are imposed on the profits of businesses. Both types of taxes contribute significantly to state budgets, funding essential services and programs.


To calculate disposable personal income you take personal income and subtract which of the following?

To calculate disposable personal income, you take personal income and subtract personal taxes. Disposable personal income represents the amount of money individuals have available for spending and saving after accounting for taxes. It reflects the income that can be used for consumption or saved for future use.


Can you defer personal income taxes?

No...of course not.


How are payroll taxes distinct from personal income taxes in terms of their impact on an individual's financial obligations?

Payroll taxes are taxes that are deducted from an individual's paycheck by their employer to fund programs like Social Security and Medicare. These taxes are separate from personal income taxes, which are paid by individuals directly to the government based on their income. Payroll taxes are typically a fixed percentage of an individual's income, while personal income taxes are based on a person's total earnings and can vary depending on deductions and credits. Payroll taxes are specifically earmarked for certain programs, while personal income taxes go into the general fund of the government.


Derice Personal income from national income?

Personal Income = National Income - undistributed corporate profits - corporate profit taxes - earnings not paid out - social insurance taxes + transfer payments So basically, national income is what is earned by a person and personal income is what they actually get


Do I have to pay taxes on a personal loan?

No, you do not have to pay taxes on a personal loan because it is not considered taxable income.


What happens to a net personal income with the government lowers taxes?

If the government lowers your taxes your NET income increases.


Which U.S Treasury bureau assesses and collects taxes on business and personal income?

which U.S. Treasury bureau assesses and collects taxes on business and personal income


Do You know how to reduce personal taxes?

lower your income