Gross income

Income-tax notices and how to avoid them It is not uncommon to be served with income tax notices because many people may not be aware of what they are supposed to do. Most tax notices alert the recipients about the issue that needs to be addressed or corrected immediately. Whatever reason is behind your notice, never ignore the notice because the tax department can impose fines of up to Rs 10,000 if the concerned party fails to reply to the notice in assessee. The number of people being served…

•Economics Professor Guy Standing explains basic income in his book The Precariat: The New Dangerous Class as follows: “The core of the proposal is that every legal resident of a country or community, children as well as adults, should be provided with a modest monthly payment. Each individual would have a cash card entitling them to draw a monthly amount for basic needs, to spend as they see fit, with add-ons for special needs, such as disability. In most rich countries, it would be less…

Individuals are allowed to deduct itemized deductions from adjusted gross income if their itemized deductions exceed their standard and personal deductions. Itemized deductions are specific deductions that can be taken by a tax payer such as mortgage interest, medical expenditures, charitable contributions, gifts, and many other items. However, some events, such as the death of a relative who leaves an estate behind, can trigger taxation. With current tax law, if someone dies and leaves an…

closer to 22% due to various reasons. Many of america's wealthy have a predominance of investment income taxed at a flat rate of 20%. Wealthy Americans may enjoy tax breaks from mortgage interest payments. Others may donate large amounts to charities. Above all, many wealthy americans are able to deduct state and local taxes from their federal taxable income. Most individuals enjoy an annual income enjoy an effective tax rate of only 23%. Looking what the wealthy really pay in taxes, proposing a…

increase the degree of wealth and comfort that a group of people in a certain geographic area experience by promoting economic growth. The standard of living takes into account many factors, some being; income gap, unemployment rate, poverty level, inflation rate, and gross domestic product. Gross domestic product or GDP is the sum of a country’s consumption, investment, government spending, and net exports. The most common measurement of a country’s standard of living is the average real GDP…

performance of firm was the main goal of time series analysis. Managers can impose actions to firm once they found out that the performance of firm was not “usual” as normal. Gross profit margin is a profitability ratio that measures the proportion of money left from revenue after the firms has paid for its goods. With higher gross profit and higher sales on year 2013, Nestle had perform better the previous year and hold 35.46% as ratio which 1.37% increase from 2012. This means that after the…

45-11 these type of purchase should be stated gross on the investing side of the Cash Flow statement. EAs should be recognized as intangible assets, and the entry for this purchase is known as a cash outflow for the investing activities section according to ASC…

Data At Virtual Lakes Store (2013-2016) 2013 2014 2015 2016 Net Profit Margin -173.58% -47.83% -10.88% 12.56% Gross Profit Margin -188.24% -15.25% 37.86% 69.76% Return on Total Assets -40.52% -35.00% -11.60% 18.35% Return on Owner's Equity -65.86% -58.55% -21.12% 38.79% Analysis: Initially the negative relation briefly shows that Fire Eaters had a greater expense compare to its income. At its most negative Net Profit Margin of -173.58%, the value tells the business has made a loss of $1.74…

and Horizontal Analysis Vertical Analysis A vertical analysis is a measure in which the entry of three of the major categories of the balance sheet are represented as a proportion of the total amount. The main advantage is that the balance sheets, income statements and other financial reports can be compared quite easily. The main idea of a vertical analysis is that it identifies each line item of a financial statement as a percentage of the main focus of the statement. For example, on a…

economy simply due to unfair income distribution. Income inequality is a growing issue today and many economists have noticed that this issue needs to be resolved in order to see steady improvement with the economy. Barack Obama even addressed the issue himself and stated that income inequality is now the main reason why the economy has yet to make a major improvement over the years. Which makes sense in economic terms, in order to spend money, an individual must have the income to do so which…