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What else can I help you with?
Does sales return and allowances go on the statement of earnings?
--> another term for Statement of Earnings is Income Statement --> in income statement, you deduct the Sales Return & Allowances from the Gross Sales to come up with Net Sales --> in presentation purposes, usually it is only the Net Sales account that is shown
How much annual income will you earn on 1 million dollars?
It depends on the interest rate that you can get. If you can get 3% return: $30,000 'income' without touching the million principal. 5% return would earn $50,000 per year.
A musical statement followed by a contrasting statement and then a return of the original statement would be called?
it is ternary form
How much income tax should you get back making 4000 dollars?
How much income tax you get back will all depend on your filing status and deductions. Take your tax information to a tax preparer who can go through your return to help you maximize your return.
What kind of an account are sales return and allowances?
Sales Returns and Allowances is a contra income account.
What can change a taxpayer's adjusted gross income when filing a federal income tax return?
Educator expenses
Does sales return and allowances go on the statement of earnings?
--> another term for Statement of Earnings is Income Statement --> in income statement, you deduct the Sales Return & Allowances from the Gross Sales to come up with Net Sales --> in presentation purposes, usually it is only the Net Sales account that is shown
Which of these could change a taxpayer's adjusted gross income when filing a federal income tax return?
Student loan interest paid
Can I deduct medical expenses for 2017 on my tax return?
Yes, you can deduct medical expenses for 2017 on your tax return if they exceed 7.5 of your adjusted gross income.
How do you present sales returns in the income statement?
sales+sales return=net sales
Do I have to to file income tax returns for state of Maine if i filed a federal tax return and and have 0 adjusted gross income?
If you are a residentof Maine who is required to file a federal income tax return, you must file a Maine income tax return. If you are not required to file a federal return, but do have income subject to Maine income tax resulting in a Maine income tax liability, a Maine return must be filed. You do not have to file a Maine income tax return if you meet all of the following requirements: 1) your Maine taxable income is $2,000 or less, 2) you claim yourself as an exemption on your return, AND 3) you are not subject to the Maine Minimum Tax. However, you must file a return to claim any refund due to you.
Difference between retrun on equity and return on capital employed?
return on capital employed (ROCE) is net income/(debt&equity) whereas return on equity is income/equity (without debt).
How much money did Shakespeare make annually?
Unfortunately we do not have his income tax return (they didn't have income tax then) or a financial statement from an accountant so we don't know.
How is adjusted gross income figured for IRS form used for medical expenses?
You adjusted gross income is figured the same way no matter what. When filing Schedule A of your return you will deduct either 7.5% or 10% of your adjusted gross income from your medical expenses depending on your age. You also have to deduct anything paid by your insurance. This only leaves the amount you paid out of pocket for deductibles, copays, and your percentage you actually paid after your deductible.
What is the most your spouse can make without you claiming her on your income taxes?
On your MFJ income tax return you do not have a choice about claiming your spouse. Your spouse would not be claimed as a dependent exemption on your MFJ income tax return. You have one exemption for each spouse on the MFJ income tax return and all gross worldwide income is combined on the married filing joint income tax return.
Refers to all income but not including exempt income and income subject to final income tax?
Your adjusted gross income (AGI) amount on your 1040 federal income tax return that you are asking about. The amount before you take your deduction amount and your exemption amount to come up with your taxable income on the 1040 tax form.
What is the formula for Adjusted Gross Income?
Start with all of your total worldwide income then subtract the adjustments to your income to come up with your adjusted gross income on the 1040 tax form line 37 and 38.If you can qualify for some of the adjustments to income on the 1040 tax return those amounts would reduce you're your total income to make up your adjusted gross income line 37 and line 38 of the 1040 tax form and in turn reduce your taxable income and your federal income tax liability.Go to the IRS gov web site and use the search box for Instructions 1040 in Adobe PDF Format go to page 29 through page 35 Adjusted Gross income start with line 23 through line 36 of the 1040 tax form.
