Week 1 Taxation Quiz

Week 1 : Federal Tax Law and troop - Homework ES 1. (TCO 1) Which, if any, of the undermentioned evaluatees is progressive (rather than proportional)? (Points : 2) A citys travel to off value on hotel occupancy100% taken January 8, 2011 at 5PM-7 PM Medicare component of FICA and FUTA Federal gas guzzler tax tax added taxes no(prenominal) of the above 2. (TCO 1) Federal excise taxes that are no hourlong oblige include: (Points : 2) tax on the sale of jewellery and furs. tax on wagering. tax on telephone usage. tax on air travel. None of the above 3. (TCO 1) Federal tax legislation loosely originates in what body? (Points : 2) Internal receipts Service Senate Finance Committee put forward ways and Means Committee Senate floor None of the above 4. (TC O 8) put forward income taxes generally depose be characterized by: (Points : 2) a need of withholding procedures. a different date for filing than the federal official income tax. allowance of a rebate for federal income taxes paid. a deduction (or a credit) for private and dependency exemptions. None of the above 5.

(TCO 8) During 2009, Devon had the chase transactions: net: $50,000 pursuit income on General Motors stomach bonds: $1,000 Gift from parents: $40,000 Contribution to tralatitious IRA: $2,000 Lottery lucre: $4,000 De vons AGI is: (Points : 2) $55,00! 0. $54,000. $53,000. $52,000. None of the above 6. (TCO 8) In 2009, Barney had the following transactions: Salary: $70,000 Capital loss from a broth investment: ($4,000) pathetic expense to change jobs: ($10,000) Received quittance of an interest-free loan he made to his brother in 2003: $5,000 airplane propeller taxes on personal residence: $2,000 Barneys AGI is: (Points : 2) $55,000. $56,000....If you want to get a ample essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper