In taxation, the term business is generally used to include the exercise of a profession. Self -

Fantastic news! We've Found the answer you've been seeking!

Question:

In taxation, the term business is generally used to include the exercise of a profession. Self - employment is a business but employment is not a business . Why?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

See More Books

Posted Date: Feb 21, 2024 10:02 AM

See More Questions

importance of workalike balance for women as a leader in healthcare. 1. The purpose of the research; 2. Research question/s; 3. Findings and relevant data; 4. Any recommendations and; 5. The...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Not all countries have a dominant legal tradition. Some countries because of their historical circumstances, have both a Roman law root and an English common law root. In this lecture, we'll talk...
Prepare the journal entries for 2, 4, 6, 8, 12 and 14 using the following information 6% bonds $1200000 par value payable in 5 years were issued for cash at 108, any premium is to be transferred to...
Read the article "How Price Discrimination Helps Less-Affluent Countries" conduct some research on patent exhaustion and the upcoming case. Make a decision on how you would rule and then give at...
Milano Pizza is a small neighborhood pizzeria that has a small area for in- store dining as well as offering take-out and free home delivery services. The pizzerias owner has determined that the shop...
Explain briefly how you discover business classes and provide an example.
A brick maker (BM) in Alberta mixes dry ink into its bricks to make them brown. BMs demand for dry ink is 60 tons per year. Currently, BM buys the dry ink from an import merchant that buys the ink...
1. Graph the functions: a. y = 2x (= b. y =
FlyHigh Tech, an early-stage startup, reports to its investors using a balanced scorecard that is prepared at the end of each quarter. During the first and second quarters of the current year, the...
ABC Ltd intends to manufacture two distinct products., Alpha and Beta. While the firm is capable of manufacturing both items, management is uncertain about the probability of either. The following...
What are the effective limits of production and profitability? Explain each briefly.
A firm current ratio is 1.3, and its quick ratio is 1.0. if the current liabilities are 10,500, what is the inventories?
How is inflation an important concept when involving Time Value of Money considerations? Explain
Suppose Economic implications of China s "yuan" devaluation? What are especially the negative impacts to major trading partners like japan and USA?
Should everyone go to college? Name other alternatives for advanced career training? What actions could a person take to have the skills that are in demand? expand your thoughts and explain it well
For each of the seven product categories, compute the average operating profit per unit and unit operating margin (expressed as a percentage of average unit price) under the current system where...
Tell whether the angles or sides are corresponding angles, corresponding sides, or neither. AC and JK
Patty Bayan is a single taxpayer living at 543 Space Drive, Houston, TX 77099. Her Social Security number is 466-33-1234. For 2012, Patty has no dependents, and her W-2 from her job at a local...
Leslie is a single taxpayer who is under age 65 and in good health. For 2012, she has a salary of $23,000 and itemized deductions of $1,000. Leslie is entitled to one exemption on her tax return. a....
Ulysses and Penelope are married and file separate returns for 2012. Penelope itemizes her deductions on her return. Ulysses' adjusted gross income was $17,400, his itemized deductions were $2,250,...
An article on barrons.com observed that the U.S. dollar has been droppingand thats good news for the stock market and companies that get a large chunk of their sales from overseas. a. What does the...
In May 2023, the Bureau of Economic Analysis (BEA) issued a revised estimate of the change in real GDP during the first quarter of 2023. The BEAs news release describing the revisions noted that the...
During the second quarter of 2020, real inventories declined by $274 billion, by far the largest decline on record. During the third quarter of 2020, real GDP increased by 35 percent, by far the...

In taxation, the term business is generally used to include the exercise of a profession. Self -

Question:

Expert Answer:

In taxation the term business is generally used to encompass various economic activities and it includes the exercise of a profession The distinction ... View the full answer

Income Tax Fundamentals 2013

Students also viewed these law questions