Tax Accounting Chapter 1 verified test 2023
Progressive tax structure - the tax rate increases as the tax base increases Proportional tax structure - the tax rate remains the same regardless of the tax base Regressive tax structure - the tax rate decreases as the tax base increases Marginal tax rate - the proportion of tax paid on the next dollar of income Average tax rate - the percentage of total tax paid on the amount of the tax base Tax formula - total income - exclusions = gross income - deductions for AGI = AGI - deductions from AGI - exemptions = taxable income x tax rate = tax expense
Written for
- Institution
-
Stanford University
- Course
-
Tax Accounting
Document information
- Uploaded on
- February 20, 2023
- Number of pages
- 11
- Written in
- 2022/2023
- Type
- Exam (elaborations)
- Contains
- Questions & answers
Subjects
- tax accounting
-
tax accounting chapter 1 verified test 2023
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