Monday, May 18, 2015

77 Free Test Bank for Concepts in Federal Taxation 2015 22nd Edition by Murphy

77 free test bank for Concepts in Federal Taxation 2015 22nd Edition by Murphy multiple choice questions seamlessly lead you through efficiently formatted questions on federal income taxation without overwhelming you with too many advertisements and distractions. This powerful textbook test bank freedisplays the difficulty based quizlets in two pages for user friendliness and the ‘submit’ button is readily accessible at the end of page 2 for your checking answers and score. Aside from multiple choice questions, you will stand an ample chance to practice more with free text and true false types by accessing the related links. Overall, they are all helpful ones that will aid you in knowledge revision and study, reasoned thinking growth and understanding the pattern of exam questions.
Please visit the link below to get full questions and answers:
The Federal income tax is a
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If a taxpayer has a choice of receiving income in the current year versus the following year, which of the following tax rates is important in determining the year in which he should include the income?
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Marie earns $80,000 as a sales manager for Household Books. How much Social Security and medicare tax does Marie have to pay?
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Bob and Linda are married and have a 2014 taxable income of $280,000. They also received $20,000 of tax-exempt income. Their marginal tax rate is:
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A tax provision has been discussed that would add an additional marginal tax rate of 39% to be applied to an individual's taxable income in excess of $800,000. If this provision were to become law, what overall distributional impact would it have on our current income tax system?
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Which of the following are included among Adam Smith's criteria for evaluating a tax? I. Convenience. II. Fairness. III. Neutrality. IV. Economy.
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Taxpayer A pays tax of $3,300 on taxable income of $10,000 while taxpayer B pays tax of $6,600 on $20,000. The tax is a
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Shara's 2014 taxable income is $42,000 before considering charitable contributions. Shara is a single individual. She makes a donation of $5,000 to the American Heart Association in December 2014. By how much did Shara's marginal tax rate decline simply because of the donation?
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Employment taxes are
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Pay-as-you-go withholding is consistent with Adam Smith's criteria of
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Vertical equity: I. means that those taxpayers who have the greatest ability to pay the tax should pay the greatest proportion of the tax. II. means that two similarly situated taxpayers are taxed the same. III. is reflected in the progressive nature of the federal income tax system. exists when Avis, a single individual with 4 dependent children, and Art, a single. IV. individual with no dependents, both pay $2,400 income tax on equal $26,000 annual salaries.
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Horizontal equity: I. means that those taxpayers who have the greatest ability to pay the tax should pay the greatest proportion of the tax. II. means that two similarly situated taxpayers are taxed the same. III. is reflected in the progressive nature of the federal income tax system. exists when Avis, a single individual with 4 dependent children, and Art, a single. IV. individual with no dependents, both pay $2,400 income tax on equal $26,000 annual salaries.
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Which of the following payments meets the IRS definition of a tax?
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Katie pays $10,000 in tax­deductible property taxes. Katie’s marginal tax rate is 25%, average tax rate is 24%, and effective tax rate is 20%. Katie's tax savings from paying the property tax is:
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