How do you reduce taxes by contribution to a define contribution plan?

Q: The additional tax on top of the standard tax?

A: Tax is a compulsory financial charge levied by government for finding the source of public…

Q: Discuss the different types of taxpayers.

A: there are different types of taxpayer in the Philippines it often times causes public confusion…

Q: Define tax effect theory

A: Tax effect theory explains the impact of taxes on revenue or expense of a company. This theory is…

Q: What distinguishes an income tax from other taxes?

A: A tax is a governmental entity's required financial charge or other kind of levy put on a taxpayer…

Q: What is intraperiod tax allocation?

A:

Q: Write a short reflection on taxes, who should carry the burden and who benefits from it?

A: Taxes Taxes which are considered to be one of the important source of revenues for the government…

Q: what are the characteristics of a good tax system?

A: Tax system is designed by the government of every country which is imposed on the individual’s…

Q: How do you calculate withholding taxes?

A: Federal income tax withholding:  The amounts which the employer withheld from employees’ gross pay…

Q: tax

A:

Q: Which of the following taxes would be deducted in determining an employee’s net pay? a. FUTA taxes…

A: Net pay: It can be defined as the amount that is taken by an employee to its home in the form of…

Q: Illustrate what is incremental tax rate?

A: Definition: Tax: Tax is the compulsory legal payment that is imposed by the government.…

Q: Why are payroll taxes and sales taxes consideredliabilities?

A:

Q: What is the difference between a progressive tax, a proportional tax, and a regressive tax?

A: Tax is an important concept in the area of finance. The United states has three types of taxes…

Q: Discuss the various effects of income taxes on the ability to work, save and invest

A: Income Taxes- Individuals, entities/corporations/firms, and entities/corporations/firms are taxed on…

Q: Discuss the importance or role of taxes in decision

A: The Government of each nation expects financing to help it in doing its important capacities and…

Q: Discuss how a sales tax is regressive.

A: 1. Regressive Tax - Regressive Tax is a tax on the amount which decreases subject to the amount…

Q: What features of a tax-free savings account (TFSA) allow it to be considered a very flexible savings…

A: A tax-free savings account is the one in which the income earned is not chargeable to tax. The…

Q: What are the additional income taxes?

A: Income tax: Income tax is a tax levied on an individual’s income (taxable income). It is a direct…

Q: How to calculate Value-added tax

A: Value added tax is a type of tax that is charged by the central government on the sale of…

Q: What are the features of final income tax?

A: Introduction:- Final tax is one of the exemptions to the extent of the regular income tax. An…

Q: How to calculate taxable social security earnings?

A: Social security:   It is the protection that a society will provide towards individuals and…

Q: What is the Net Income After Tax?

A:

Q: final tax and income tax

A: Tax is a form of compulsory payment made to the government of the country. The amount that is…

Q: What is the amount of the plan assets available to pay benefits? What are the factors that can cause…

A:

Q: What is a defined Contribution Pension Plan?

A: A defined contribution pension plan It is an arrangement where  there is a contribution by employer…

Q: What is the Effect on Deferred Income Taxes?

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: How is the Self-Employment (SE) tax calculated?  What types of income are subject to the SE tax

A: Self-employment tax is a combination of Social Security and Medicare taxes The self-employment tax…

Q: How do defined-benefit plans differ from defined contribution plans?

A: For long, pension has been taking care of post-retirement needs of a large section of retirees.…

Q: What is personal income tax and it's use?

A: Income tax is a type of tax that governments impose on income generated by businesses and…

Q: Compare the bases of the Hall-Rabushka flat tax, a broad-based general sales tax, and a…

A: Hall-Rabushka flat tax: This concept was brought by Hall and Rabushka because flat tax would be…

Q: what is an example of value added taxes

A: Value-added tax (VAT) refers to the consumption tax which is imposed on a commodity once the value…

Q: Determine the tax payable or overpayment if:

A: Tax is the expense over the individual or the earning body to pay the portion of their income to the…

Q: d Tax (VAT

A: Value Added Tax (VAT) is a broad tax that is levied on practically all products and services sold.…

Q: compute for the after tax cost of debt.

A: 12   Calculate cost of equity using CAPM model as shown below:     Cost of equity Risk free…

Q: Define tax savings due to interest (TSt )

A: Tax savings are the amount saved in form of tax payable to the government. Tax savings due to…

Q: What are taxes ? Explain types of Taxes Both Direct and Direct.

A: To run a nation judiciously, the government needs to collect tax from the eligible citizens; paying…

Q: What is marginal tax rate?

A:

Q: Fringe benefit tax is computed based on the monetary value of the fringe benefit. TRUE OR FALSE?

A: Fringe benefit tax (FBT) is defined as the tax which employers pay on the benefits paid to the…

Q: what is the special consumption tax?

A: Consumption can be briefly defined as the spending by individuals and households on final goods and…

Q: What is Percentage Tax?

A: Tax:- A tax is the compulsory payment which is imposed by the government on income and capital gain…

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.