distinguish tax base under the donor tax and estate tax. explain
1. distinguish tax base under the donor tax and estate tax. explain
Answer:
merry Christmas
Explanation:
happy new year
Answer:
salamat shö0pee
salamat laZada
2. ibigay ang pagkakaiba ng estate tax at gift tax
Answer:
+The federal estate tax applies to the transfer of property at death. The gift tax applies to transfers made while a person is living. The generation-skipping transfer tax is an additional tax on a transfer of property that skips a generation+ A gift tax is the tax on money or property that one living person gives to another. Items received upon the death of another are considered separately under the inheritance tax. Many gifts are not subject to taxation because of exemptions given in tax laws.3. in your own understanding differentiate donation tax and estate tax
Answer:
A donation tax is any gratuitous (free or at no charge) disposal of property including any gratuitous waiver or renunciation of a right. If the person receiving the donation gives anything in return, that it is not a donation. While the estate tax is a tax on the right of the deceased person to transmit his/her estate to his/her lawful heirs and beneficiaries at the time of death and on certain transfers, which are made by law as equivalent to testamentary disposition.
4. Which of the following taxes is deductible from the gross estate?
Answer:
saan po Yung tinutukoy mo
5. The income of the undistributed estates is subject to income tax? TRUE or FALSE The income of the estate is computed in the same manner as a general commercial partnership? TRUE or FALSE
answer:
True
thanks me later nasa module koyan
6. what was the purpose of train law i estate tax?
it helps the average people. Theres no tax if their income is 20k below
7. Ibigay ang pagkakaiba ng estate tax at gift tax (Tagalog pls)
Answer:
Nalalapat ang buwis sa federal estate sa paglipat ng ari-arian sa pagkamatay. Nalalapat ang regalong buwis sa mga paglilipat na ginawa habang nabubuhay ang isang tao. ... Nalalapat lamang ang buwis sa bahagi ng halaga ng estate na lumampas sa antas ng exemption
Explanation:
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8. Explain how estates are being taxed
It is a tax imposed on the privilege of transmitting property upon the death of the owner. The Estate Tax is based on the laws in force at the time of death notwithstanding the postponement of the actual possession or enjoyment of the estate by the beneficiary.
Explanation:
hope it helps9. Stella has already paid the taxes on the home for the entire year. miguel will pay stella ______ for the advance payment of the real estate taxes.
Stella has already paid the taxes on the home for the entire year. miguel will pay stella Income tax for the advance payment of the real estate taxes.
I HOPE ITS HELPSPA BRAINLEST KUNG PWEDE10. when is the time for filing of an estate tax return.explain
Answer:
The estate tax return shall be filed within six (6) months from the decedent's death. The Commissioner shall have the authority to grant, in meritorious cases a reasonable extension not exceeding thirty (30) days for filing the return11. ano ang pagkakaiba ng estate tax at gift tax
Answer:
The federal estate tax applies to the transfer of property at death.
The gift tax applies to transfers made while a person is living.
Inheritance tax is imposed on the transfer of property’s ownership to the successor, making it another form of real estate transaction. Real estate taxes are among the government’s sources of income, making it mandatory for citizens to pay taxes due to whatever form of transaction it may be. Succession involves transferring ownership and property title, making it necessary for the successor to file the tax and pay it. The commissioner may extend the deadline when it puts inheritors in a difficult situation.
Estate taxes are only imposed on an estate that is above PhP 200,000. Estate less than the minimum amount is exempted from the inheritance tax or any form of taxes under the law on succession.
ccto:TPC
Explanation:
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12. ito ay tax para sa revenue generation?a. donors taxb. estate taxc. sales taxd. inheritance tax
Answer:
C. SALES TAXExplanation:
➡️SALES TAXA SALES TAX IS A CONSUMPTION TAX IMPOSED BY THE GOVERNMENT ON THE SALE OF GOODS AND SERVICES. A CONVENTIONAL SALES TAX IS LEVIED AT THE POINT OF SALE, COLLECTED BY THE RETAILER, AND PASSED ON TO THE GOVERNMENT.➡️INCOME TAX THE TERM INCOME TAX REFERS TO A TYPE OF TAX THAT GOVERNMENTS IMPOSED ON INCOME GENERATED BY BUSINESSES AND INDIVIDUALS WITHIN THEIR JURISDICTION.13. Why do we need to pay estate tax?
MEANING
estate tax is imposed on the transfer of the decedent's estate to his lawful heirs and beneficiaries based on the fair market value of the net estate at the time of the decedent's death. ... It is a tax imposed on the privilege of transmitting property upon the death of the owner.
TRUE ANSWERbecause the money the estate tax raises helps to fund essential programs, from health care to education to national defense.
14. Audit the partnership tax return of a real estate development company.
Answer:
To audit the partnership tax return of a real estate development company, the auditor would need to review and assess the accuracy and completeness of the information reported on the tax return. The audit process may include the following steps:
1. Obtain an understanding of the company's business operations, financial statements, and tax compliance policies and procedures.
2. Review the tax return to identify any areas of potential risk or inconsistency.
3. Test the accuracy and completeness of the information reported on the tax return through various procedures, such as reviewing supporting documents, testing transactions, and re-computing tax calculations.
4. Evaluate the company's compliance with relevant tax laws and regulations.
5. Document the audit procedures and findings in an audit report.
The purpose of the audit is to provide reasonable assurance that the tax return is accurate and complete, and that the company has properly reported its income, deductions, and credits in accordance with relevant tax laws and regulations.
15. Ano ang real estate tax
Answer:
Property (real estate) tax is charged on immovable property—land and structures that are permanently attached to the ground such as a house, building, or land. If you own a home, you pay property (real estate) tax directly to your local tax assessor or indirectly with your monthly mortgage payment
Explanation:
16. when shall the estate tax and donor tax be paid explain
Answer:
The estate tax shall be paid at the time the return is filed by the executor, administrator or the heirs. The Commissioner may grant extension of time not exceeding five (5) or two (2) years depending on whether the estate was settled judicially or extrajudicially
17. what kind of tax was levied in both urban and rural real estates?
Answer:
property tax
Explanation:
i hope it will help
18. it is the tax of the land that required the Third Estate to pay for it.
Explanation:
okay so much for the start up
19. It is a tax on the annual rental value of an urban real estate.
Answer:
Urban Tax;
The Urbana which is a tax on the annual rental value of an urban real estate was replaced known as a land tax that charges both urban and rural real estate Civil Government in the Philippines.
Explanation:
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Sana Makatulong
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20. Solve the following problems. A businessman has a land with an area of 555 square meters (m²). If the land tax rate is 2 pesos per square foot (ft.²), compute the amount of real estate tax the businessman has to pay.
the answer is in the pic ↑
« ctto. »
21. Which of the following is not a requirement in claiming unpaid mortgage as deduction for estate tax purposes?
Answer:
1. Receivable of P750,000 from an insolvent debtor whose ratio of assets to liabilities is 1:4.
Explanation:
22. ano ang ibig sabihin ng estate tax
Answer:isang buwis na ipinagkaloob sa net halaga ng estate ng isang namatay na tao bago ipamahagi sa mga tagapagmana.
23. what is the right formula , solution and answer of tax problems ? =)
the formula is price of the product times tax rate is equal to sales tax
for ex : the product price is $1.00 and the sales tax rate is 10% the formula and the solution would be (1.00)* (10%) (note: that before u multiply them u need to convert percent to decimal so the formula would be (1.00)* (0.10)
24. Which of the following statements is false? Transfer tax is a. Imposed upon gratuitous transfer of property b. Of two kinds estate tax and donors tax c. Classified as national tax d. None of the above
Answer:
C. Classified as national tax
Explanation:
There are four main types of national internal revenue taxes: income, indirect (value-added and percentage taxes), excise and documentary stamp taxes, all of which are administered by the Bureau of Internal Revenue (BIR).
25. ito ay isang halimbawa ng protection tax?a. real estate taxb. income taxc. taripad. vat
Answer:
My answer is letter " B. Income Tax
Explanation:
Hope it helps
Correct me if I'm wrong
Brianlest please I need it
26. research and study the definition of the following taxes1. income tax2. value added tax3. percentage tax4. real estate tax5. estate tax6. donor's tax7. excise tax8. documentary tax9. withholding tax on compensation10. capital gains tax
Answer:
• Income Tax
- Income tax is a type of tax that governments impose on income generated by businesses and individuals within their jurisdiction. Income tax is used to fund public services, pay government obligations, and provide goods for citizens.
• Value Added Tax
- A value-added tax, known in some countries as a goods and services tax, is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer.
• Percentage Tax
- Percentage tax is a business tax imposed on persons, entities, or transactions specified under Sections 116 to 127 of the National Internal Revenue Code of 1997 (also known as Tax Code), as amended, and as required under special laws.
• Real Estate Tax
- Real property tax is a kind of tax levied by the local government on properties and should be paid by property owners. Properties that are taxable include land, building, improvements on the land and/or the building, and machinery.
• Estate Tax
- The estate tax is a financial levy on an estate, based on the current value of its assets. Federal estate taxes are levied on assets in excess of $11.4 million as of 2019, but about one in four states have their own estate taxes, with lower limits. Assets transferred to spouses are exempt from estate tax.
• Donor's Tax
- Donor's Tax is a tax on a donation or gift, and is imposed on the gratuitous transfer of property between two or more persons who are living at the time of the transfer.
• Excise Tax
- An excise tax is a legislated tax on specific goods or services at purchase such as fuel, tobacco, and alcohol. Excise taxes are intranational taxes imposed within a government infrastructure rather than international taxes imposed across country borders. A federal excise tax is usually collected from motor fuel sales, airline tickets, tobacco, and other goods and services.
• Documentary Tax
- Documentary Stamp Tax is a tax on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, right or property incident thereto.
• Withholding Tax on Compensation
- Withholding Tax on Compensation is a tax on an employee's income. Generally speaking, it requires employers to deduct and retain a certain percentage of an employee's salary each cut-off date and then remit this retained amount to the Bureau of Internal Revenue, or BIR.
• Capital Gains Tax
- A capital gains tax is a tax on the growth in value of investments incurred when individuals and corporations sell those investments. When the assets are sold, the capital gains are referred to as having been "realized." The tax doesn't apply to unsold investments or "unrealized capital gains," so stock shares that appreciate every year will not incur capital gains taxes until they are sold, no matter how long you happen to hold them.
HOPE IT HELPS :)27. estate tax of marcoses? do you agree that the heir of ferdinand marcos sr. is liable to pay the estate tax worth 23 billion?
Answer:
yes
Explanation:
In the issue related to the estate tax of MARCOSES I agree that the heir of Ferdinand Marcos Sr. must pay for the remaining tax worth 23 billion pesos. Since the wealth of the Former President was then given by his son and grandchildren they should pay for it.
28. 1. People often refer to taxes in terms of their being much too high. In reality, theyare probably even higher than you think, because in addition to the federal incometax we are now studying, there are many other Federal, State, and local taxes,including sales taxes, inheritance taxes, state income taxes, personal propertytaxes, real estate taxes, and others. These are just some of the most obvious ones.A. Some taxes are hidden.B. Taxes are much too highC. We pay more taxes than we may realize.D. Inheritance taxes and real estate taxes are unfair.
Answer:
c. we pay more taxes than we may realize
Explanation:
thanks sana nakatulong
29. In donor's tax, the exemption is p250,000 while in estate tax, the exemption is p100,000.
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30. Ibigay ang kahulugan Ng mga sumusunod *Sales tax *Excise tax *Sin tax *Value-added tax *Income tax *Estate tax *Capital Gains tax *Properly tax
Answer:
sales tax is a stack.
Explanation:
the sales stack us baligya of manga and damo pa
