<u>Answer:</u>
Excise tax :$0.30 tax on a gallon gasoline
Consumption tax : 20% tax on wages earned
Income tax : 9% tax on the sale of luxuries
<u>Explanation:</u>
Excise tax are the taxes charged to individuals on purchase of certain goods. Excise taxes are included with the price of the product. One of the major excise tax is charged on the gasoline for vehicles.
Consumption tax are the indirect taxes that are charged on usage of goods and services. They are collected in the form of sales tax and value added tax.
Income tax is the tax collected by the government for earning money through business or work.
Answer: Option E
Explanation: The difference between a partnership firm and a corporate firm is the extent of liability of the owners. In case of partnership firm the extent of liability of the partners are unlimited and their personal assets could be sold to pay off the debt in case of any default.
On the other hands, in case of corporate firm the extent of liability of owner is limited to their capital investment. In case of a company structure, the company and the owner are considered to be separate.
Hence from the above we can conclude that the correct option is E.
The document is known as W-4 Form. You fill this form when you are claiming your allowances, but it also helps to guide your boss on how much money should be withheld from your paycheck for federal taxation.
Answer:
an abbreviation for people
Explanation:
hope it helps
Answer: traditional = $6000, Roth IRA= $5,200
Explanation:
jOEY IS 49years old earning $124,000
For traditional IRA. He will contribute $6000 since in traditional IRA, The Contribution limits exist as $6,000 for 2019 for those under age 50, $7,000 for those 50 and older.
For a Roth IRA,
IF single an income falls between $122,000- #136,999, the following calculations wil;l be made since joey earns $124,000 and is single
$124,000-$122,000= $2,000
2000/15,000=0.13333
which will now be multiplied by the maximum amount he can contribute which is $6,000
0.13333x $6000= $799.99
$6,000- $799.99= $5,200
