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The corporate tax rate as well as the tax amortization period are defined by country-specific tax legislations. The tax amortization period might be different from the useful life used in accounting. For example, while trademarks can have an indefinite useful life for accounting purposes, the tax legislation of the United States establishes a ...
Taxable income refers to the base upon which an income tax system imposes tax. [1] In other words, the income over which the government imposed tax. Generally, it includes some or all items of income and is reduced by expenses and other deductions. [2] The amounts included as income, expenses, and other deductions vary by country or system.
Under the U.S. tax code, businesses expenditures can be deducted from the total taxable income when filing income taxes if a taxpayer can show the funds were used for business-related activities, [1] not personal [2] or capital expenses (i.e., long-term, tangible assets, such as property). [3]
The tax calculation of Afghanistan are as below. Currency used AFN according to Afghanistan Tax law. Salary Tax calculation of Afghanistan. From 0 to 5000 AFN Exempted. From 5001 to 12500 2% Tax will be deducted, From 12501 to 100000 10% Tax will be deducted and, From 100000 and Above 20% Tax will be deducted or imposed
The result is a gap between tax expense computed using income before tax and current tax payable computed using taxable income. This gap is known as deferred tax. If the tax expense exceeds the current tax payable then there is a deferred tax payable; if the current tax payable exceeds the tax expense then there is a deferred tax receivable.
If your after-tax income is $3,000 a month, for example, this is what you’d have for needs, wants and savings according to the 50/30/20 rule: 50% for needs — $1,500 (or $3,000 x 0.50) 30% for ...
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