What is the tax marriage penalty and when does it apply? Under what circumstances would a couple experience a tax marriage benefit?
Describe the order in which different types of tax credits are applied to reduce a taxpayer’s tax liability.
The tax marriage penalty is the case where two people having separate incomes marry and thus pay higher taxes as a couple with more income. Filing tax returns as single is considerably low than of the people who marry and earn equal income. A tax benefit is experienced by a couple when the individuals that marry have disparate incomes.
The types of tax credits that are applied to reduce a taxpayer's tax liability are non-refundable tax credits, refundable tax credit and partially refundable tax credit. The nonrefundable tax credits are deducted from the tax liability until it becomes zero. The tax credit that is not utilized is not refundable. This tax credit is suitable for low-income individuals. refundable tax credits are ones that are fully refundable. Even if the tax liability becomes zero this tax credit is refunded. The partial tax credit is where the tax credit is partially refundable. This helps in decreasing tax liability and taxable income.
What is the tax marriage penalty and when does it apply? Under what circumstances would a...
Under what circumstances can a state impose a tax on goods that are improted from other nations? A. negligence per se B. if the tax does not conflict with any federal law C. if the tax is also applied equally to the same type(s) of goods produced domestically D. in no circumstances
1. What does a tax preparer need to show to avoid the penalty for understatement of tax liability (knew of or should have known)? A. The avoidance was not willful or reckless. B. The understatement was not shown to be caused by the preparer's negligence. C. The preparer had completed all due diligence requirements. D. There was reasonable cause and the preparer acted in good faith. 2. Generally, all the same tax principles applicable to ________ will apply to virtual...
What are the different types of volumetric glassware and equipment, and the circumstances under which each would be used?
Under what circumstances does a single-market analysis of tax incidence give a good approximation of the multimarket incidence?
Under what circumstances may a court pierce the corporate veil and what happens when it does?
What is meant by “respondeat superior” and how and when does it apply in the law of agency? Under what circumstances can the principal be held liable for the torts of his or her agent? Give at least two hypothetical fact situations to illustrate when “respondeat superior” will apply.
Under what circumstances would a perfectly competitive firm continue to produce even when it is losing money? Why would this be better than shutting down?
A trader buys a European call option and sells a European put option. The options have the same underlying asset, strike price, and maturity. Describe the trader’s position. Under what circumstances does the price of the call equal the price of the put?
Describe the convexity of a bond. When pricing bonds under what circumstances is convexity a problem?
Under what energy circumstances does an electron tunnel through a potential barrier? A when the potential energy is greater than the total energy B when the potential energy is less than the total energy C when the kinetic energy is greater than the potential energ