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Tax Act

カード 56枚 作成者: JS star (作成日: 2013/11/29)

  • Who cares about taxes?

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  • カード表 : 英語
  • カード裏 : 英語
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  • 1

    Who cares about taxes?

    補足(例文と訳など)

    答え

    • businesses, politicians, individuals

    解説

  • 2

    What Qualifies as a Tax?

    補足(例文と訳など)

    答え

    • A tax is a payment required by a government agency that is unrelated to any specific benefit or service received from the government agency.

    解説

  • 3

    Key components of a tax:

    補足(例文と訳など)

    答え

    • 1. Payment required.

    解説

  • 4

    Key components of a tax:

    補足(例文と訳など)

    答え

    • 2. Payment imposed by government agency (federal, state, local).

    解説

  • 5

    Key components of a tax:

    補足(例文と訳など)

    答え

    • 3. Payment not tied directly to benefit received by the taxpayer.

    解説

  • 6

    To calculate a tax, a taxpayer must know:

    補足(例文と訳など)

    答え

    • Tax Rate: level of taxes imposed on the tax base and is usually expressed as a percentage.

    解説

  • 7

    To calculate a tax, a taxpayer must know:

    補足(例文と訳など)

    答え

    • Tax Base: defines what is actually taxed and is usually expressed in monetary terms.

    解説

  • 8

    To calculate a tax, a taxpayer must know:

    補足(例文と訳など)

    答え

    • Tax = Tax Base * Tax Rate

    解説

  • 9

    Different Ways to Measure Tax Rates

    補足(例文と訳など)

    答え

    • Marginal tax rate: the tax rate that applies to the next additional increment of a taxpayer's taxable income.

    解説

  • 10

    Different Ways to Measure Tax Rates

    補足(例文と訳など)

    答え

    • Average tax rate: the taxpayer's average level of taxation on each dollar of taxable income.

    解説

  • 11

    Different Ways to Measure Tax Rates

    補足(例文と訳など)

    答え

    • Average tax rate = total tax ÷ taxable income

    解説

  • 12

    Different Ways to Measure Tax Rates

    補足(例文と訳など)

    答え

    • Effective tax rate: the taxpayer's average rate of tax on each dollar of total income (both taxable and nontaxable).

    解説

  • 13

    Different Ways to Measure Tax Rates

    補足(例文と訳など)

    答え

    • Effective tax rate = total tax ÷ total income

    解説

  • 14

    Different Ways to Measure Tax Rates

    補足(例文と訳など)

    答え

    • Relative to the ATR, the ETR provides a better depiction of a taxpayer's tax burden because it includes all income earned.

    解説

  • 15

    Bill and Mercedes have $140,000 of taxable income and additional $10,000 of nontaxable income. Using the 2011 MFJ rates, what is their:

    補足(例文と訳など)

    答え

    • Tax due = 27,269.50.

    解説

  • 16

    Average tax rate.

    補足(例文と訳など)

    答え

    • $27,269.50 = $27,087.50 + 28% x ($140,000 - $139,350)

    解説

  • 17

    Marginal tax rate.

    補足(例文と訳など)

    答え

    • Average tax rate: 19.48% (27,269.50/140,000)

    解説

  • 18

    Marginal tax rate.

    補足(例文と訳など)

    答え

    • Effective tax rate: 18.18% (27,269.50/150,000)

    解説

  • 19

    Marginal tax rate.

    補足(例文と訳など)

    答え

    • Marginal tax rate: 28%

    解説

  • 20

    Tax Rate Structures

    補足(例文と訳など)

    答え

    • Proportional tax rate (flat tax): imposes a constant tax rate throughout the tax base.

    解説

  • 21

    Tax Rate Structures

    補足(例文と訳など)

    答え

    • Progressive tax rate: imposes an increasing marginal tax rate as the tax base increases.

    解説

  • 22

    Tax Rate Structures

    補足(例文と訳など)

    答え

    • Regressive tax rate: imposes a decreasing marginal tax rate as the tax base increases.

    解説

  • 23

    Examples of proportional, progressive, regressive tax rate structures

    補足(例文と訳など)

    答え

    • Proportional tax rate:-Sales tax.

    解説

  • 24

    Examples of proportional, progressive, regressive tax rate structures

    補足(例文と訳など)

    答え

    • Progressive tax rate:-Federal and state income taxes. -Average tax rate will always be less than or equal to 

    解説

  • 25

    Examples of proportional, progressive, regressive tax rate structures

    補足(例文と訳など)

    答え

    • the marginal tax rate. Regressive tax rate:-Social Security.

    解説

  • 26

    Types of Taxes

    補足(例文と訳など)

    答え

    • 1. Federal Taxes, 2. State and Local taxes

    解説

  • 27

    Federal taxes (types of taxes)

    補足(例文と訳など)

    答え

    • 1. Income taxes: (largest)

    解説

  • 28

    Federal taxes (types of taxes)

    補足(例文と訳など)

    答え

    • 2. Employment and unemployment taxes:

    解説

  • 29

    Federal taxes (types of taxes)

    補足(例文と訳など)

    答え

    • 3. Excise taxes.

    解説

  • 30

    Federal taxes (types of taxes)

    補足(例文と訳など)

    答え

    • 4. Transfer taxes.

    解説

  • 31

    Federal taxes-largest group

    補足(例文と訳など)

    答え

    • Income Taxes:-Represents approximately 51.6% of all tax revenues collected in the United States.-Levied on individuals, corporations, estates, and trusts.

    解説

  • 32

    Federal taxes-2nd largest group

    補足(例文と訳など)

    答え

    • Employment and unemployment taxes:Second largest group of taxes imposed by the U.S. government.

    解説

  • 33

    Federal taxes-2nd largest group

    補足(例文と訳など)

    答え

    • Employment taxes include the:1.OASDI (Social Security tax)2. MHI tax (Medicare tax). 

    解説

  • 34

    Federal taxes-2nd largest group

    補足(例文と訳など)

    答え

    • Unemployment taxes fund temporary unemployment benefits for individuals terminated from their jobs without cause.

    解説

  • 35

    Federal taxes-3rd largest group

    補足(例文と訳など)

    答え

    • Excise Taxes:Third largest group of taxes imposed by the US government. Levied on the retail sale of particular products. Tax depends on quantity of products purchased. -->Gasoline, alcohol, diesel fuel, telephone services. Producer of product pays the tax.

    解説

  • 36

    Federal taxes-smallest group

    補足(例文と訳など)

    答え

    • Estate and gift taxes:Levied on the fair market values of wealth transfers upon death or by gift.

    解説

  • 37

    State and local taxes

    補足(例文と訳など)

    答え

    • 1. Sales and use taxes.

    解説

  • 38

    State and local taxes

    補足(例文と訳など)

    答え

    • 2. Property taxes.

    解説

  • 39

    State and local taxes

    補足(例文と訳など)

    答え

    • 3. Income taxes.

    解説

  • 40

    State and local taxes

    補足(例文と訳など)

    答え

    • 4. Excise taxes.

    解説

  • 41

    State and local taxes-sales and use taxes

    補足(例文と訳など)

    答え

    • Tax base for a sales tax is the retail sales of goods and some services.  Tax base for the use tax is the retail price of goods owned, possessed or consumed within a state that were not purchased within the state.

    解説

  • 42

    State and local taxes-property taxes (2 types of property taxes)

    補足(例文と訳など)

    答え

    • Property taxes are ad valorem taxes, meaning that the tax base for each is the fair market value (FMV) of the property.  1. Real property taxes: consists of taxes on land and structures permanently attached to land.

    解説

  • 43

    State and local taxes-property taxes (2 types of property taxes)

    補足(例文と訳など)

    答え

    • Property taxes are ad valorem taxes, meaning that the tax base for each is the fair market value (FMV) of the property. 2. Personal property taxes: includes taxes on all other types of property, both tangible and intangible.

    解説

  • 44

    Property taxes (state and local taxes) are

    補足(例文と訳など)

    答え

    • ad volorem taxes: meaning that the tax base for each is the fair market value (FMV) of the property

    解説

  • 45

    State and local taxes-income taxes

    補足(例文と訳など)

    答え

    • Most state taxable income calculations largely conform to the federal taxable income calculations, with a limited number of modifications.

    解説

  • 46

    State and local taxes-excise taxes

    補足(例文と訳など)

    答え

    • States typically impose excise taxes on items subject to federal excise tax.

    解説

  • 47

    Sufficiency (evaluating different tax systems)

    補足(例文と訳など)

    答え

    • assessing the size of the tax revenues needed and making sure that the tax system provides these revenues. need sufficient revenues to pay for governmental expenditures for a defense system, social services, etc.

    解説

  • 48

    Equity: 2 types (evaluating different tax systems)

    補足(例文と訳など)

    答え

    • Equity="Fairness", how should the tax burden be distributed across taxpayers; a tax system is considered fair if the tax is based on the taxpayer's ability to pay. 1. horizontal equity, 2. vertical equity

    解説

  • 49

    Horizontal Equity

    補足(例文と訳など)

    答え

    • 2 taxpayers in similar situations pay the same tax.

    解説

  • 50

    Vertical Equity

    補足(例文と訳など)

    答え

    • taxpayers with greater ability to pay tax pay more tax than taxpayers with less ability to pay.

    解説

  • 51

    Evaluating Different Tax Systems: A good tax system should? (3 things)

    補足(例文と訳など)

    答え

    • 1. certainty

    解説

  • 52

    Evaluating Different Tax Systems: A good tax system should? (3 things)

    補足(例文と訳など)

    答え

    • 2. convenience

    解説

  • 53

    Evaluating Different Tax Systems: A good tax system should? (3 things)

    補足(例文と訳など)

    答え

    • 3. economy

    解説

  • 54

    Certainty (evaluating different tax systems)

    補足(例文と訳など)

    答え

    • taxpayers should be able to determine when to pay the tax, where to pay the tax, and how to determine the tax.

    解説

  • 55

    Convenience (evaluating different tax systems)

    補足(例文と訳など)

    答え

    • tax system should be designed to facilitate tax collection without undue hardship to the taxpayer.

    解説

  • 56

    Economy (evaluating different tax systems)

    補足(例文と訳など)

    答え

    • should minimize the compliance and administration costs associated with the tax system.

    解説

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