Give an argument in favor of taxes on wealth like the estate tax. What potential problems would there be in trying to enforce a new wealth tax on living individuals?

Q: Explain the difference between an individual and a corporation or society when filling taxes.

A: Individual Taxpayer: A taxpayer is someone who owes money to the federal, state, or municipal…

Q: A progressive tax system encourages individuals to work harder.Is it true or false? and why?

A: Progressive tax system is the system under which a lower rate of tax is imposed on an individual…

Q: What are some of the effects of the crypto-related activities on an individual's tax payable?

A: Answer:-  Cryptocurrency meaning:- A cryptocurrency is a kind of digital or virtual currency that is…

Q: What are child tax credits and payroll taxes? Explain the advantages and disadvantages. which…

A: Child Tax Credits  In America, child tax credits are given to every family in which dependent child…

Q: Which of the following is subject to the creditable withholding tax system?

A: Creditable withholding tax is an advance income tax of the particular tax payee. This would mean…

Q: Tax experts believes that tax planning tools puts the control of when to pay in the hands of…

A: Introduction Tax Planning is an act of arranging and managing transactions in such a way that, tax…

Q: Should wealthy American taxpayers pay inheritance and gift taxes in order to give their money to…

A: According to a recent New York Times investigation, Donald Trump’s father, Fred Trump, gave the…

Q: Why does the Social Security system face a crisis? Are there real assets in the Social Security…

A: Social security system is a mechanism which works on "pay-as-you-go" may face crisis when the inflow…

Q: II. How Sin taxes help the health of the people?

A: II.  Sin tax are imposed on the goods which are harmful for health ( such as alcohol, tobacco etc. )…

Q: Is it right to avoid taxes as much as you can?

A: Taxation- The laws and regulations that govern the financial services industry are referred to as…

Q: Explain the main differences between tax evasion and tax avoidance and list the main actions taken…

A: Tax evasion is the use of illegal methods of concealing income or information from the IRS or other…

Q: 1) Class, what are transfer taxes? What is the purpose? When and how might they apply? 2) Share…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Which of the following is the best definition of tax planning? Oa. Planning taxpayers' financial…

A: Tax planning refers to financial planning for tax efficiency to reduce tax liability and optimally…

Q: Is estate tax a type of debt? What happens if a person doesn't pay estate tax?

A: The estate tax is a tax imposed after a person's death on the transfer of property and other assets.…

Q: How can tax law changes create incentives for investors to sell their properties to other investors?

A: Income property can be described by different means, including such leasing, as the asset bought or…

Q: In tax management, using the effective tax rate is better than using the nominal tax rate. What…

A: Using the effective tax rate rather than the nominal tax rate is preferable in tax management.

Q: What are the taxes and tax rates for individual taxpayers? Hope you can help me, thank you

A: Taxpayers are referred to as those individuals, or organizations who are obliged to pay the taxes to…

Q: What do you think about estate taxes at the state level? How do we see this play out with retirees?

A: The estate tax is a financial levy on an estate, based on the current value of its assets.

Q: Should the IRS and the Department of the Treasury consider alternative tax systems, such as Flat…

A: Taxes refers to the money or amount of sum that the government requires people or businessman as…

Q: What is an estate tax and donor tax? Give example how to compute estate and donor taxes

A: Taxes are mandatory payments placed on individuals or businesses by a government agency, whether…

Q: Rich Americans have already paid income tax on the earnings that made them rich in the first place.…

A: Rich Americans are taxed on their wealth as well as their incomes. it should be noted that wealth is…

Q: What is a tax return? brief explain

A: Tax return in a form designed by designated tax authorities which helps taxpayers to disclose their…

Q: Why do you think the Tax Reform Act of 1986 affected the desirability of investing in real estate…

A: The question is based on the impact of tax reform on long term investment in real estate.

Q: Do you thinks taxes are moral? Explain your answers

A: Taxable income is the amount of income computed to measure the amount of taxes to be paid to the…

Q: What is the tax rate range for Social Security benefits received? How is the deductible amount of…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following best reflects the ability-to-pay philosophy of taxation?         a tax on…

A: The tax obligation levied on the residential property under capital taxation if the owner detains…

Q: Do you think

A: these are the following drawbacks of property taxes: Lower incentive to buy a home High property…

Q: Distinguish between Tax Exemption and Tax Amnesty?

A:

Q: Which of the following is not considered a purpose of taxation?    A. To regulate B. To make the…

A: Tax means the mandatory payment made by tax payer to the government without expecting anything…

Q: Do you think taxes affect the value of real estate versus other investments?

A: Tax:   A tax is a compulsory charge or a levy imposed upon a taxpayer by a government organization…

Q: Marco Polo, How much is the total income not subject to tax?

A: Answer: The part of income that are exempted becomes the part of income which are not subject to…

Q: Tax amnesty allows absolute forgiveness to give tax evaders a chance to reform with a clean slate.

A: Tax amnesty is the option given to taxpayers to clear their prior period dues or debts to…

Q: Are progressive taxes the most equitable for all people?

A: Tax structure is based on how income of individual must be taxed. It could be based on certain slab…

Q: 1. What do you think about estate taxes at the state level? How do we see this play out with…

A: Disclaimer: Since you have posted a question with multiple questions. We will solve the first…

Q: Assume that the United States Congress passes a tax law that provides for a "rebate" to taxpayers.…

A: In the United States, Article I, Section 8 of the Constitution gives Congress the power to "lay and…

Q: What is the advantage of Making versus Buying? Give a scenario and explain the effect focusing on…

A: A make-or-buy decision is an act of choosing whether the product manufacture in-house or…

Q: In the case of property tax, government costs are low but taxpayer cost are high

A: Property tax levy is imposed primarily on land and buildings and also imposed on business,farm…

Q: Does the concept of a progressive (and fair) tax system become undermined by the ability to tweak…

A: Progressive tax system The concept of progressive tax system is simple to collect more taxes from…

Q: How will the Filipino people benefit from the The Tax Reform for Acceleration and Inclusion Law

A: The Tax Reform for Acceleration and Inclusion Law is also known as TRAIN law. It is an initial tax…

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.