Tag: income

CB Passive Income 4.0 | Truth Exposed

CB Passive Income 4.0 | Truth Exposed

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Where Do Your Tax Dollars Go?

Politicians have their own ideals and plans for how America should be run. And it may not sound like they’re talking about money when they are campaigning, but the whole Democrat versus Republican thing is really about where American tax dollars should be going. So, before you dive in on either side, it might be …

Trump’s Tax Plan Explained

Trump’s Tax Plan Explained

IF YOU HAVE FOUND OUT ABOUT TRUMPS PROPOSED TAX PLAN YOU MIGHT THINK THAT THE TAX CUTS ARE GOING TO BE GIVEN TO THE RICHEST AMERICANS ARE THE BIGGEST WAY YOU ARE GOING TO BE SCREWED. IT TURNS OUT THERE ARE OTHER WAYS YOU MIGHT BE SCREWED IN A WAY THAT COULD THEORETICALLY HURT PROGRESSIVES …

Income Tax Declarations

Income Tax Declarations

Your employer is responsible to deduct income tax from your salary. The income tax calculation is affected by factors such as: income other than salary, house rent, investment in certain funds, housing loan interest, and so on. In the beginning of a financial year, you have to make declarations to the employer on, what investments …

BOD 7-3: Income Statement

BOD 7-3:  Income Statement

NOW THAT WE UNDERSTAND THE BALANCE SHEET, LET’S LOOK AT THE INCOME STATEMENT AND UNDERSTAND HOW IT RELATES TO THE BALANCE SHEET. THE INCOME STATEMENT IS A SUMMARY OF INCOME AND EXPENSES OVER A PERIOD OF TIME. FOR EXAMPLE A MONTH, QUARTER, OR FULL YEAR OF ACTIVITY. ANNUALLY, THE NET INCOME OR LOSS IS ADDED …

Marginal tax rate

Marginal tax rate

Marginal tax rate and average tax rate explained. How does a marginal tax rate apply to your taxable income, and how do you calculate your average tax rate. Let’s work through those questions with some examples. Many countries in the world use tax brackets and a progressive tax rate system. A tax bracket system means …