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solmaris [256]
1 year ago
9

How does gross taxable income and adjusted gross income differ between the two?

Business
1 answer:
Ierofanga [76]1 year ago
6 0

Gross taxable income is the total income a person earns before any deductions or credits.

What is Tax?
Tax compliance refers to policy actions as well as individual behaviour aimed at ensuring that taxpayers pay the right amount of tax just at right time and securing the correct tax allowances as well as tax reliefs. A tax is a mandatory financial charge or another type of levy imposed on the a taxpayer by a governmental organisation in order to fund government spending as well as various public expenditures (regional, local, or national). Around 3000–2800 BC, the first recorded taxation was enacted in ancient Egypt. Non-compliance with the law includes failing to pay on time as well as evading or resisting taxation. Taxes can be paid in cash or in the labour equivalent and can be either direct or indirect.

Adjusted gross income is the amount of income a person earns after subtracting certain deductions that are allowed by the Internal Revenue Service, such as certain business expenses, student loan interest payments, or alimony payments. In other words, adjusted gross income is the amount of income that is actually taxable.

To learn more about Tax
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In 2016, due to a change in marketing forecasts, Barney Corporation reduced the projected life of its patent for producing round
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(C) Unaffected.

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This is a change in estimate. No prior period adjustment is needed.

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Tesla wanted to break into the electric vehicle (EV) marketplace with a luxury sports model. At that time, economic value was mo
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B. attribute

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Reece is trying to increase the number of products he sells every week so he will get a promotion this year. What are accurate w
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Answer:

intermediate goal

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Explanation:

A goal is a desired result am individual wants to achieve in the future. Goals are usually time bound, that is they are meant to be achieved in a given time frame.

In the given instance Reece is trying to increase the number of products he sells every week so he will get a promotion this year.

With regards to duration goals can be short term, intermediate, or long term.

His goal of increasing weekly sales is an intermediate one.

Career goals are those that are measured by level of achievement on one's job. Reece is looking at getting a promotion in this year.

5 0
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Which label appears on the button when you write the code snippet >undo
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According to the given code snippet, a "button" would be created with the label "cancel".  

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Explain whether each of the following will cause a shift of the AD curve or a movement along the AD curve. a. Firms become more
Aleks04 [339]

Answer:

a. AD curve will shift to the right

b. AD curve will shift to the left

c. Movement along the AD curve.

Explanation:

a. When firms become more optimistic and increase their spending on machineries,this brings about changes in investment and it will cause a shift to the right in the aggregate demand curve.

b. When The federal government increases taxes in an attempt to reduce a budget deficit. This will cause a change in consumption as people will have less money to spend since disposable income has been reduced, and it will cause the aggregate demand curve to shift inwards to the left.

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