English, 16.05.2021 16:50 almasahagung

PLEASE PLEASE I NEED HELP NOW PLEASE Please please I need help with the question please Video Questions

https://youtu. be/GShKBkv2xY8
1. a) If someone makes $95 000 a year, what will be the total federal tax paid (according to the 2019 federal tax rates given in the video)? Show all your calculations!

b) What will this person’s net income be? Show all your calculations!
2. a) If someone makes $105 000 a year, what will be the total federal tax paid (according to the 2019 federal tax rates given in the video)? Show all your calculations!
b) What will this person’s net income be? Show all your calculations!
3. What are some other ways to make money besides your full-time job?

4. What are two ways you can reduce the tax amount you owe?

5. What is the difference between a Tax Credit and Tax Deductible?
6. Give an example of the difference between a Tax Credit and a Tax Deductible?

7. What is the most common Tax Deductible?

8. List the six most common tax deductions he talks about in the video.

9. If you own your own business, why are you taxed more favourably than a full-time job?

10. List the seven business expenses that can he has deducted from is income on his taxes.

11. Is it beneficial to own your own business for tax purposes? Explain your answer.

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