Question

DIFFERENCE BETWEEN NEW TAX CODE & OLD TAX CODE IN USA ?

DIFFERENCE BETWEEN NEW TAX CODE & OLD TAX CODE IN USA ?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Answer : their are certain rules in case of old tax rate credit is allowed qualified research and development expenses in current tax tatr it is retained

In slab rate of individual old tax rate such as 10,15,25,38,33,35,39.6

In new slab rate these slab rates are

10,12,22,24,32,35,37

In bonus depreciation concept in old tax rate

Only 50% allowed on qualified new property purchase

However in new law it is fully qualified for exemption

Certain other changes had taken place

Thank you hope this helps you

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Compare tax deductions and tax credits: a. What is the difference between tax deductions and tax...
Compare tax deductions and tax credits: a. What is the difference between tax deductions and tax credits in determining the amount of taxes one owes to the government? Explain. b. When do deductions produce more efficient outcomes than credits? Explain. c. Which is more vertically equitable in the context of the U.S. tax code – deductions or credits? Explain.
Acct 3404 What is difference between an inheritance tax and estate tax
Acct 3404 What is difference between an inheritance tax and estate tax
Explain the difference between tax free and tax deferred investment vehicles.
Explain the difference between tax free and tax deferred investment vehicles.
What is the difference between tax free and non-taxable?
What is the difference between tax free and non-taxable?
The “tax gap” is the difference between the amount of tax the government actually collects and...
The “tax gap” is the difference between the amount of tax the government actually collects and the amount they could have collected if all of the tax rules had been complied with. Group of answer choices True False
Discuss the difference between tax evasion and tax minimization. Consider when will the tax office deny...
Discuss the difference between tax evasion and tax minimization. Consider when will the tax office deny a deduction based on a taxpayer’s subjective purpose or intention in incurring the expenses.
1.  What is the primary difference between tax evasion, tax avoidance, and abusive avoidance? A. The means...
1.  What is the primary difference between tax evasion, tax avoidance, and abusive avoidance? A. The means used to minimize one’s taxes. B. The amount of the difference between the proper calculation and the improper calculation. C. The timeframe needed for each. D. Tax evasion only relates to state-level taxes while tax avoidance and abusive avoidance relates to federal level.
What is the difference between effective tax rate, cash tax rate and structual cash rate?
What is the difference between effective tax rate, cash tax rate and structual cash rate?
Discuss the difference between tax evasion and tax minimization. Consider when will the tax office deny...
Discuss the difference between tax evasion and tax minimization. Consider when will the tax office deny a deduction based on a taxpayer’s subjective purpose or intention in incurring the expenses Explain in around 500 words and refer to Australian law
Explain in your own words the difference between a tax credit and a tax deduction. Which...
Explain in your own words the difference between a tax credit and a tax deduction. Which one of the two is preferable? Please, include an example with your answer.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT