Sources of Income of tour operator

1. Variable mark-up - based on contracted rates from suppliers: the tour operator makes or adds his own mark-up, which should not be higher than the rate of his suppliers.

2. Use of cost savers and concessions: Example: 15+1=16 free of charge. A maximum of 4 concessions is allowed. For a group of 64 persons, suppliers pay for 60 only and the 4 is income for the tour operator.

3. Use of advance deposits and cancellation fee: money can be used for other services

4. By selling optional tours: selling services outside the tour package

5. Foreign exchange earning: tour operators can gain or lose on this facet, depending on the exchange rate.

The tax rate for retirees varies depending on their income and the specific tax laws of their country or state. Generally, retirees may be subject to income tax on their retirement income, such as pensions and withdrawals from retirement accounts. Some countries or states may have special tax provisions for retirees, such as lower tax rates or exemptions for certain types of retirement income. It is recommended to consult a tax professional or review the tax laws applicable to your situation for accurate information.

There are several organizations throughout the US that offer free tax return help for senior citizens or disabled individuals. Some options include AARP Foundation Tax-Aide, which provides assistance at local tax preparation sites, the Volunteer Income Tax Assistance (VITA) program, available at various community centers and libraries, and the Tax Counseling for the Elderly (TCE) program, which specifically caters to individuals aged 60 or older. These resources offer free tax preparation services, often provided by trained volunteers.

You can find forms and instructions to file your state tax return on the official website of your state's department of revenue or taxation. These websites typically provide downloadable forms and instructions, as well as information on electronic filing options. Alternatively, you can also visit your local tax office or library to obtain the necessary forms and guidance.

For tax year 2007 there were, call it 140 million individual tax returns filed. http://www.irs.gov/taxstats/article/0,,id=102886,00.html There are no stats on how many of that 140 mil actually had a tax liability, but if stats remain consistent 60% actually "PAID" taxes.

Yes, as a U.S. citizen, you are generally required to report and pay taxes on your worldwide income regardless of where you live. However, there are certain provisions, such as the Foreign Earned Income Exclusion and the Foreign Tax Credit, that may help reduce or eliminate U.S. tax liability on income earned in Australia. It is advisable to consult a tax professional for personalized advice based on your specific situation.

The specific start time for tax free weekend in 2012 will vary depending on the state or jurisdiction in which you are located. Generally, tax free weekends or sales tax holidays begin at the start of business on the designated day, which is typically a Friday or Saturday. It is recommended to check with your local government or tax authority for the exact start time.

You can find the forms and instructions to file your federal tax return online on the official website of the Internal Revenue Service (IRS) at www.irs.gov. Look for the "Forms & Instructions" section, where you can search for the specific forms you need based on your circumstances and access the downloadable PDF versions. Additionally, the IRS offers free online filing options through their Free File program, which provides step-by-step guidance and electronic versions of the necessary forms.

Income taxes affect payroll, because it is the amount of money that is taken out of each check. Income tax must be paid by every working citizen.

The last day to file federal income taxes is typically April 15th. However, if this date falls on a weekend or holiday, the deadline may be extended to the next business day. It's important to check the current year's tax filing deadline to be certain.

The earned income for an 80-year-old before paying federal taxes would depend on their specific financial situation, such as employment status, sources of income, and deductions. Generally, earned income refers to wages, salaries, tips, and self-employment income. It is recommended to consult with a tax professional or refer to the IRS guidelines to determine the specific earned income and tax obligations for an individual in this age group.

FICA includes two separate taxes: Social Security tax and Medicare tax. Social Security tax is used to fund retirement, disability, and survivor benefits, while Medicare tax pays for healthcare benefits for those aged 65 and older.

You can learn about the 1040 federal form by visiting the official website of the Internal Revenue Service (IRS) at www.irs.gov. On the IRS website, you will find resources such as the instructions for Form 1040, publications, and frequently asked questions that can provide you with detailed information about this form and how to fill it out correctly for your federal tax return.

For the 2021 tax year, the minimum income required to file federal taxes depends on your filing status. If you are single and under 65 years old, you generally must file if your income is at least $12,550. The thresholds vary for other filing statuses, such as married filing jointly or head of household. It is always a good idea to check the IRS guidelines or consult a tax professional for accurate and up-to-date information.

The length of time 1,400,000 will last in retirement depends on several factors including the individual's spending habits, lifestyle, investment returns, and any other sources of income such as pensions or Social Security. However, if we assume a conservative withdrawal rate of 4% per year, this amount could potentially provide an annual income of $56,000 for around 25 to 30 years in retirement.

Whether or not you are required to file federal income tax forms depends on a few factors, including your income level, filing status, and age. Generally, if your income meets certain thresholds set by the IRS, you are required to file a federal tax return. It is best to consult with a tax professional or use online tools like the IRS's Interactive Tax Assistant to determine if you have a filing requirement.

Income taxes may be assessed at both the federal level and the state level. The federal government has the authority to levy income taxes on individuals and corporations across the country, while state governments have the power to impose their own income taxes within their respective jurisdictions.

Any individual who earns income above a certain threshold, typically determined by filing status and age, is required to file a federal tax return (Form 1040) and potentially pay federal income tax. These individuals include US citizens, resident aliens, and certain nonresident aliens who meet specific criteria outlined by the Internal Revenue Service (IRS).

The amount of income tax you pay on Social Security and retirement income depends on your total income and filing status. Generally, if your combined income exceeds a certain threshold, a portion of your Social Security benefits may be subject to income tax. It is advisable to consult with a tax professional or refer to IRS guidelines for specific information regarding your situation.

Social Security retirement checks are subject to FICA taxes (Social Security and Medicare taxes) unless an individual has already reached the maximum taxable earnings limit for the year. Once the maximum limit is reached, no further FICA taxes are deducted from the retirement checks.

Paying company tax involves several steps and is subject to the tax regulations of the country in which the company operates. Here's a general guide on how to pay company tax:

Know Your Tax Obligation: Understand what taxes your company owes by reviewing your financial records, including income, expenses, and deductions.

File a Tax Return: Complete your company's tax return, providing all relevant financial information, and follow your country's tax filing process.

Select a Payment Method: Choose a convenient payment method accepted by your tax authority. Options usually include electronic transfer, checks, or credit cards.

Timely Payment: Pay your taxes on time to avoid penalties and interest charges. Meet the filing and payment deadlines to stay in compliance.

Utilize Tax Benefits: Explore available tax deductions and credits to lower your tax liability, ensuring you don't overpay.

Keep Records: Maintain organized financial records, including tax returns and supporting documents, as per your country's retention requirements.

Consider Estimated Payments: Depending on your location and business size, make estimated tax payments throughout the year to meet tax obligations as you earn income.

Professional Guidance: For expert advice, consult a certified accountant or tax professional specializing in corporate taxes.

Employee Tax Withholding: If you have employees, ensure correct income tax withholding and timely submission to tax authorities.

Plan Ahead: Prepare for future tax payments, considering quarterly or annual obligations based on your business structure and location.

Remember, tax laws can vary by jurisdiction, so stay informed about local regulations. Seeking guidance from a tax professional can simplify the process and ensure you're following the right steps.

Your investment income must be limited to $2,900. If you are single with no qualifying child, at least 25 yrs old but less than age 65 = maximum income range is Single/Head of Household/Qualifying Widow = 12590; Married Filing Joint = 14590. If you are single with one qualifying child, the maximum income range for Single/Head of Household/Qualifying Widow = 33,241; Married Filing Joint = 35,241. If you have more than one qualifying child the maximum income range for Single/Head of Household/Qualifying Widow = 37,783; Married Filing Joint = 39,783. http:taxresolutionaries.blogspot.com

Amounts received as workers' compensation for an occupational sickness or injury are exempt from tax if paid under a workers' compensation act or a statute like one.act. The exemption also applies to your survivors. The exemption, however, does not apply to retirement plan benefits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury.

If part of your workers' compensation reduces your social security or equivalent railroad retirement benefits received, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. For a discussion of the taxability of these benefits, see Other Income under Miscellaneous Income, later.

Go to the IRS gov web site and use the search box for Publication 525 Taxable and Nontaxable income