answersLogoWhite

0

Math and Arithmetic

User Avatar

Jenifer Carter

Lvl 10
2y ago
No Reviews
Leave the first rating

Rate this Study Guide:

Cards in this guide (13)
Statements that are true for any number

Identities are statements that are true for any number.

How do you work the math question for how much will an employee will earn per hour if a job is for 35 hours per week and an employee can earn 542.50 per week

15.50

How much will you pay the cashier for a candy bar that originally costs 79 cents and is now marked 15 percent off Sales tax is 5.5 percent

0.71 or .71

(A+)

How much will you pay the cashier for a candy bar that originally costs 79 cents and is now marked 15 percent off Sales tax is 5.5 percnet

You will pay 71 cents.

What best describes the person who oversees the reading of your will and ensures your last wishes are followed

executor

Which of these is not required of the company by the FTC when you order something by mail phone fax or computer

Issue a store credit within 7 days if the order is canceled or not shipped on time.

What occurs when a producer is unable to meet the demand of a certain product

asswhole

What legal guarantee that the manufacturer will provide certain repairs should portions of the car wear out earlier than expected

Warranty.

Income tax is considered to be which type of tax

Income Tax is a DIRECT TAX. The Supreme Court has made this point very clear in 1916 only 3 years after the 16th Amendment, commonly referred to as the Income Tax amendment, was ratified. The 16th Amendment confirms that the Income Tax can ONLY be imposed under the category of Indirect. The 16th amendment is a moot point in the scheme of things anyway. All it did was to confirm Congress' taxing power by the US Supreme court concerning income tax as an indirect tax and nothing else! 
Income Tax is an INDIRECT tax by it's very nature. It is NOT a direct tax as others here have suggested. The 2 US Supreme Court Cases in 1916 settled that this very question are as follows: 

BRUSHABER v. UNION PACIFIC R. CO., 240 U.S. 1 (1916) 

AND 

STANTON v. BALTIC MINING CO, 240 U.S. 103 (1916) 

The Court said specifically in the Stanton case the following: 
" it manifestly disregards the fact that by the previous ruling it was settled that the provisions of the 16th Amendment conferred no new power of taxation, but simply prohibited the previous complete and plenary power of income taxation possessed by Congress from the beginning from being taken out of the category of indirect taxation to which it inherently belonged, " So here we can see, beyond ANY shadow of a doubt, that the court confirms that Congress can lay an income tax but ONLY as an indirect tax. 

And as a side note, most tax professionals do NOT read the law to determine who is liable for the tax. Most tax professionals read IRS publications and just ASSUME anyone who makes money now owes an Income Tax. The most important aspects are glossed over like whom is subject to the tax, whom is liable for the tax (yes, it's different than whom the subject is), under what circumstances domestic US source income becomes taxable. So the who what when where and why are for the most part discarded as important by practically anyone whom works in the tax industry. 

IRS Publications tell the story a bit different than a tax "professional" would. IRS Publications are sort of like "New Letters" put out by the IRS to the tax industry, including mostly ALL CPA's and Tax "Professionals". The IRS has a manual available on their website which any one can go read. Here's what THEIR OWN manual says about their own publications: 

4.10.7.2.8 (01-01-2006) 
IRS Publications 

"IRS Publications explain the law in plain language for taxpayers and their advisors. They typically highlight changes in the law, provide examples illustrating Service positions, and include worksheets. Publications are nonbinding on the Service and do not necessarily cover all positions for a given issue. While a good source of general information, publications should not be cited to sustain a position." 

The IRS has plainly stated in their OWN manual that Publications are NOT to be cited to sustain positions about the LAW even though that is what all tax professionals do anyway. This is because IRS publications and pamphlets are NOT the law. The IRS has already vindicated themselves from people who WRONGLY use publications like law. 

So hopefully this has gotten you on the proper path to actually understanding what the "Income Tax" actually is and especially what it ISN'T! And, this is just the tip of the Iceberg of the mis-understandings the general public have about Income Tax law. So next time somebody says it's an direct tax, you can confidently re-correct them and confirm that it is, beyond a shadow of a doubt, an indirect tax.

If nancy pays her bank 465.23 a month for 48 months how much will she have paid on her installment loan-

If Nancy pays her bank 465.23 a month for 48 months, the amount paid on every installment would be 116.3075/n where n is the amount.

Angela wants to calculate her take-home pay. She earns 1377 monthly. She pays federal tax of 200 state tax of 41.31 and 7.65 in FICA tax. What is Angela's monthly net pay

1030.35

This is the Reed family budget. How much discretionary income does the family have each month

474

Which of these is not part of the Preamble

The answer is Which of these is not part of the Preamble?

Related study guides

Who is the Illinois state attorney general

How to Calculate income tax on the income statement

What is the smallest unit of local government

Which of these does not have an excise tax

➡️
See all cards
No Reviews

How to Calculate income tax on the income statement

What is the highest court in your state

Is a airplane considered real property or personal property

What is the smallest unit of local government

➡️
See all cards
No Reviews

Which state has a nonpartisan legislature

How to Calculate income tax on the income statement

What is the highest court in your state

How were the colonies transformed into sovereign states

➡️
See all cards
No Reviews

What is a bureaucracy

How to Calculate income tax on the income statement

What is the highest court in your state

How were the colonies transformed into sovereign states

➡️
See all cards
No Reviews

What is a bureaucracy

How to Calculate income tax on the income statement

What is the highest court in your state

How were the colonies transformed into sovereign states

➡️
See all cards
No Reviews