69 Best Tax Questions and Answers (Q&A) - ProProfs Discuss

How did new tax plan affect me if I own a small business?

A. Daniels, Professor
Answered: Nov 05, 2018

The new tax plan will benefit small business owners, to a degree. Small business owners will pay less in taxes, which means they have more money to invest into their businesses. However, there...Read More

2 Answers

238 views

How will Trump's tax plan affect my taxes this year?

Anika Nicole, Wordsmith
Answered: Apr 18, 2018

The new Tax plan has only four Tax brackets with rates 12%, 25%, 35% and 37% (earlier the bill maintained 7 brackets). Overall, Trump’s tax plan has increased the standard...Read More

2 Answers

234 views

Will new tax plan go up for the middle class?

A. Daniels, Professor
Answered: Nov 05, 2018

At the moment, it does not look like the taxes for middle-class families are going anywhere in America. Most of the change is being seen at the top of the bracket, with a good sized decrease for...Read More

2 Answers

232 views

Are citizens of US happy with the new tax plan?

Christian Jackson, Content Developer
Answered: Nov 05, 2018

Short term, who knows? Taxes in the United States are complicated as all crap, so what Trump is trying to do is simplify and make it easier to pay to start. Then, he’s got his sights on...Read More

2 Answers

226 views

When is murder considered to be 1st Degree?

Trublu
Answered: Apr 24, 2024

Planned and deliberate
The victim is a police officer, sheriff, warden, jail guard, or prison employee
Person commits an offence under Section 423.1 (Intimidation of Participant in the...Read More

1 Answer

222 views

What is your legal duty to provide necessaries if if you are a parent, foster parent, guardian, or head of a family?

Trublu
Answered: Apr 24, 2024

Children under 16
Your spouse or Common Law partner
Any persons under your charge who are unable to do it for themselves.

Do you have any idea how hard it is to come up with ones...Read More

1 Answer

220 views

What is the difference between Tax Evasion and Avoidance?

T. Lopez, Biology student
Answered: Jul 21, 2020

Foremost, note that tax avoidance and tax evasion are two major methods for minimizing your tax. Now, if your choice is tax avoidance, that means you are trying to reduce the tax amount that you...Read More

2 Answers

145 views

What is the difference between Eclipse GST and GSX?

L. Agate
Answered: Jul 31, 2020

Eclipse GST or Grand Sport Turbo and GSX or Grand Sport X, are two models of the eclipse. The two models of eclipse share a lot of things in common, most especially when you compare their engines...Read More

3 Answers

110 views

What is the difference between Zakat and Tax?

H.Harper
Answered: Feb 27, 2020

Zakat and Tax are two different things entirely because they are not related in terms of what they stand for actually. Zakat is one of the five pillars of Islam, which mandates all Muslims to give a...Read More

2 Answers

88 views

What is the difference between form 940 and form 941?

Matz Lewis Clark, College student
Answered: Jul 12, 2020

Form 941 employment tax is an employer’s federal tax return that indicates what should be paid quarterly. The form is used to report income tax, social security, or Medicare tax withheld...Read More

2 Answers

75 views

What is the difference between Lien and Levy?

W.Willow
Answered: Feb 28, 2020

Lien and Levy are two important parts of taxation. Most times, they are used by the government to make people pay their taxes at the right time. While the end result of the two is to help the...Read More

2 Answers

62 views

What is the difference between 1040 and 1040A Tax Forms?

C. Perez, Writer
Answered: Feb 27, 2020

The main difference between 1040 and 1040A is that the 1040 form is longer than the 1040A form. The 1040 form is more challenging to deal with than 1040A because you must supply more information for...Read More

2 Answers

53 views

What is the difference between HSA and HRA?

Denton Perez, Professor
Answered: Jul 22, 2020

The main difference between HSA and HRA is who funds and administers the account. HSA stands for Healthcare Savings Account, while HRA stands for Healthcare Reimbursement Account. The HRA may be...Read More

1 Answer

47 views

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