Progressive tax rates versus flat tax

Assignment Help Accounting Basics
Reference no: EM1365345

How would applying a flat tax decrease errors, when the progressive tax rates is just a simple formula? How would you measure gross income? Do you think that deductions should be eliminated? Which ones and why?

Reference no: EM1365345

Questions Cloud

Explain a bottle cap manufacture with four machines : Explain A bottle cap manufacture with four machines and six operators wants to see if variation in production is due to the machines
What is the magnitude of the passengers acceleration : What is the magnitude of the passenger's acceleration.
Evaluate time required to install : How long do you estimate the time required to install the second pool and fourth pool
Explain how is the activity reflected on the balance : Explain how is the activity reflected on the balance on current (BCA) account different from the activity reflected on the capital and financial accounts (BFA).
Progressive tax rates versus flat tax : How would applying a flat tax decrease errors, when the progressive tax rates is just a simple formula? How would you measure gross income? Do you think that deductions should be eliminated? Which ones and why?
What is the net electric force acting on particle : What is the net electric force acting on particle.
Calculating value of common stock : The last dividend paid by Klein Company was $2. Klein's growth rate is expected to be a constant 5 percent for next three years, after which dividends are expected to grow at a rate of 10 percent forever
Elucidate what resources does he have at his disposal : Within the next year? Over the long term. Elucidate what resources does he have at his disposal to enhance the reputation of the firm and turn it round.
Determine amount of teller in total : Determine amount of teller in total and teller cost per branch, assuming the startup is operates 10,20,15, 25 branches. In this case is the teller cost fixed or variable?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Explaining complex methodology

Describe a business situation where you have had to explain a complex problem or solution to a client or colleague. Describe the situation, your approach, and the outcome:

  Which of the following are government transfer payments

Which of the following government transfer payments is included in the recipient's gross income? Which of the following expenditures is not a medical expense for federal tax purposes?

  Phillips company investment account

Phillips Company bought 40 percent ownership in Jones Bag Company on January 1, 20X1, at underlying book value. In 20X1, 20X2, and 20X3, Jones Bag reported net income of $8,000, $12,000, and $20,000

  Computing land and building cost

On February 10, 2013, Rims Corporation purchased a parcel of land as a factory site for $250,000. An old building on the property was demolished, and construction began on a new building which was completed on September 30, 2013. Salvaged material..

  International differences in accounting

Compare the accounting systems in 2 countries with differing legal systems. Explain why each country's system is the way it is.

  Determining straight-line depreciation

In 2013, it is determined that the total estimated life should be 10 years with a salvage value of $5,490 at the end of that time. Assume straight-line depreciation.

  Manipulating the value of the yuan

Describe the principles on which the Big Mac Index is built and how it might help you as an international manager.

  Plant assets-depreciation-disposal and depletion

Illustrate journal entries required and demonstrate the calculations necessary. How to calculate a change in the periodic rate is also shown. Plant asset disposal slides illustrate the following situations: retirement, loss on sale, and gain on sa..

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Internal controls differences

What is the difference between a general control and an application control? What internal controls can be implemented using information systems to safeguard an organization's electronic assets?

  Prepare journal entries of sigfried company

Sigfried Company borrows $60,000 on July 1 from the bank by signing a $60,000, 10%, one-year note payable. Prepare the journal entry to record the proceeds of the note.

  What is the accounting equation

What is the Accounting Equation? Does it always have to balance, if so why? Are there exceptions to this general rule? If so, what are they?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd