The Tax Preparation Blog

Posts Tagged ‘taxes’

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Question: tax calculator in salary income??????????

Answer: Download from http://prrajan-tax.blogspot.com/2008/03/indian-income-tax-calculator-for-fy2008.html – this is in MS-Excel. This is for FY2008-09 with new budget proposals incorporated.

Greg Wood answers insurance questions

Greg Wood serves as a principal owner for The Catalyst Group. He specializes in deferred compensation plans, estate planning, key-person life insurance, buy-sell agreements and premium financing. Wood …

Home Mortgage Interest Income Tax Deduction 2009, 2010

Question: How do you solve normal distribution problems?

I’m having trouble setting up this word problem. Will someone please help me and show me how to set this problem up/or how to solve it? I have a test in two weeks and I have no idea how to solve normal distributions. I’m taking online classes and my professor isn’t very responsive when it comes to emailing questions! Thanks

The average charitable contribution itemized per income tax return in Pennsylvania is $792. Suppose that the distribution of contributions is normal with a standard deviation of $103. Find the limits for the middle 50% of contributions.
How did you find the z-score?

Answer: I assume that you have a normal distribution table available to you in your course. Using this table, find the z-scores corresponding to an area under the normal curve of 0.7500 and 0.2500. Multiply these z-scores by $103 and then add $792 to convert the z-scores into the contribution amounts.

Baidu Announces Third Quarter 2010 Results

BEIJING , Oct. 21 , /PRNewswire-Asia/ — Baidu, Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, today announced its unaudited financial results for the third quarter ended September 30, 2010 . Third Quarter 2010 Highlights — Total revenues in the third quarter of 2010 were RMB2.256 billion ($337.2 million), a 76.4% increase from the corresponding period in 2009 …

Basic Income Tax – Part 12

Question: what do u think about the Progressive method that used to calculate the income tax ?

whats the advantages and the disadvantages of the Progressive method that used to calculate the income tax in the world , and i want to know if it is a fair method from an economic and accounting
perspectives ?
what do u think about the idea of Unification of the income tax rate in all the economic sectors .?
thanks
i mean to make the income tax rate constant for all the sectors no matter of the amount of income that generate .

Answer: Consider that a single mother with a crap $8.50 hour job supporting 2 kids — and there are millions of women in that situation in the US today — would lose upwards of $9,000 per year with a flat 25% tax rate and no deductions, exemptions, or credits and the current progressive rate structure is imminently fair!

Also consider that the top 5% of earners in the US may pay 90% of all taxes, they control over 98% of all wealth. They’re getting a pretty sweet break as things are!

South Korea aims at $4b in defense exports by 2020

South Korean President Lee Myung-bak on Tuesday (October 19) discussed with related ministers ways to further develop the defence industry based on a blueprint to reach US$4 billion in annual defence exports.

FA 9 8 Partial years, Tax Methods, Rate Revisions

ERICSSON REPORTS THIRD QUARTER RESULTS

STOCKHOLM, SWEDEN–(Marketwire – October 22, 2010) -

FHA 203k Streamline Financing Rehab Loan Program

Question: Didn’t high top-tier tax rates end the depression, win WWII, and build the post-war middle-class boom?

Extremely high government spending on manufacturing of armaments, starting in 1942, ended The Great Depression, in 1943. In 1944 and ’45, top-tier tax rates (the highest in U.S. history) above 90% helped end the war and build the post-war middle-class boom. Top-tier tax rates remained above 50% until 1981 when tax rates were lowered from the 70% level by Reagan. They’ve remained below 50% (and often below 40%) to this day.

Did this mid-century tax policy not help create the America many still remember that existed until the ’70s? High real family incomes? Little or no family debt with higher savings? No financial market panics from 1937 to 1987? The “rich” weren’t even “hurting”, then! Were they?

Answer: Correlation does not prove causality but anyone who wants to convince me that high taxes on the rich will stop economic growth will have to explain why it did not during the post WWII period.

White House Not Budging on Tax Hikes for Wealthy

Obama administration continues to push for Congress to let the Bush tax cuts expire for the wealthiest Americans, teeing up a lame-duck standoff in Washington once lawmakers return from the campaign trail. Control of Congress Unknown on Nov. 3? Tea Party 2010 Wrap-Up Tour Kicks Off White House: Chamber OK to Help Dems OPINION: For WH, It’s All Propaganda Full Coverage: America’s Election HQ

History of income tax vlog-BTW, did you pay your taxes? I did!