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goldfiish [28.3K]
3 years ago
5

What type of tax system does the United States government use to collect income taxes?

Business
2 answers:
olganol [36]3 years ago
7 0

Answer:

The answer Is the Third Option.

Explanation:

Korolek [52]3 years ago
5 0

Answer:

The answer is option 3:

Progressive  

Explanation:

The overall federal tax system is progressive, with total federal tax burdens a larger percentage of income for higher-income households than for lower-income households.

Individual income taxes are an example of progressive tax structure.

Progressive tax are the tax for which the percentage of income paid in taxes increases as income increases.

A tax determined by an individual's income from all sources are called Individual income tax.

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Sophia Martin's goal has been to travel around the world. She has now been traveling for six months and she has decided she is a
Usimov [2.4K]

Answer:

Identifying alternative course of action

Explanation:

In this scenario Sophia made an initial financial plan in which she would travel around the world.

As she gets tired of this line of action she can identify other activities that will better suit her. So when she decides to go home, look for a part time job, and take shorter trips to locations around the world that appeal to her. She is identifying alternative course of action.

This new action will eventually have financial implications when implemented. In this case coming home and making only short trips will save her more money. She will also get money from her job.

3 0
3 years ago
Is the sole shareholder of a corporation. for the past five years, has reported little or no taxable income as a result?
OleMash [197]

For the past five years, Logan has reported little to no taxable income because he paid Graham a salary of $500,000 a year.

Multiply that result by the number of shares held for each individual shareholder. Complete Appendix K, the form companies must submit to list the amount of income attributable to each shareholder for the tax year.

The gross S Corporation income (or loss) reported in Appendix E is included in the income from rentals, royalties, partnerships, S Corporations, trusts, etc. section of an individual's Form 1040.

S corporation tax rate refers to the federal, state, and local personal income taxes an S corporation must pay. S Corporation owners must pay state and local income taxes ranging from 0% to 13.3% and a maximum federal income tax of 39.6%.

Learn more about shareholder at

brainly.com/question/25686394

#SPJ4

5 0
2 years ago
John borrows $10,000 for 10 years at an effective interest rate of 10%. He can repay the loan using the amortization method with
Ierofanga [76]

Answer:

The balance in the Sinking Fund immediately after repayment of the loan will be $2,133.19

Explanation:

Hi, John will pay the loan by paying the yearly interest and the rest is going to go to the sinking fund, so, if he has $1,627.45 and the annual interest of the loan are $1,000, he will be depositing $627.45 into the sinking fund for ten years. Therefore, the future value of the annual deposits of the sinking can be found by using the following formula.

FutureValue=\frac{A((1+r)^{n} -1)}{r}

Where:

A = equal annual savings into the sinking fund (that is $627.45)

r = effective rate of the sinking fund (14%)

n = 10 years

Everything should look like this.

FutureValue=\frac{627.45((1+0.14)^{10} -1)}{0.14}

Future Value=12,133.19

Now, this is the balance after 10 years, but remember that John has to pay the loan, which is $10,000 (not $11,000 because John pays the interest of the loan and then deposits the balance into the sinking fund). Therefore, the balance after repaying the loan is $12,133.19 - $10,000 = $2,133.19.

Best of luck.

8 0
3 years ago
Sheffield Corporation incurred the following costs in 2020. Cost of laboratory research aimed at discovery of new knowledge $145
Stells [14]

Answer: Debit Research and Development expense $477,000

Credit Cash $477,000

Explanation:

The journal entry simply refers to the recording of transactions that a company makes and it should be noted that the total amount that's gotten in the debit column must be equal to the total amount that us gotten in the credit column.

Based on the information given in the question, the journal entry for Sheffield Corporation will be:

Debit Research and Development expense $477,000

Credit Cash $477,000

8 0
2 years ago
As blogs and celebrity testimonials have proliferated across the media landscape, so have efforts by businesses and manufacturer
alexira [117]

Answer:

Over the last few years the blogging is utilized as an incredible internet based life instrument to affect business and related financial matters. In many nations organizations that exist take the assistance of a few or the other type of online life, as a result of its regularly growing job in making positive brain research for the clients. Subsequently empowering better deals and surveys for the organization.  

Bloggers will in general big affect buy choices by regular open which normally will in general partner this as an indication of pre-dominance of the item or brand where they put the resources.  

Morally, the most concerning issue in big names and bloggers drawing in themselves in paid audits or tributes is that they themselves will in general have practically no information on the contribution and individuals purchase this simply out of the way that their preferred blogger has bought a thing and can be trusted upon  

The greatest case of this in the ongoing occasions is the Festival which was facilitated by a youthful business visionary and wound up being a calamity in which individuals lost a huge number of dollars. Models for this was employed for advancements which surely looked obviously superior to the last item which the clients wound up in buying.  

This features the very substance of moral issues related with monetary understandings for paid audits and tributes that as a rule big names or bloggers simply work for the cash they get without irritating a lot about the net consequence of such a course of action. Without having appropriate understanding about the item or administration being offered, they aimlessly offer the item to shoppers who don't will in general know this plan.  

Through this methodology, the organizations will in general influence consideration on explicit items for the end buyer and put abusing bloggers under control.  

7 0
3 years ago
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