Explain formula for individual’s income tax and business entities.Contrast concepts of Income from accounting , economic and tax perspectives.

Assignment 2
Deadline: 12/11/2022 at 23.59 pm

Course Name: Tax AND Zakat Accounting Student’s Name:
Course Code: ACCT 422 Student’s ID Number:
Semester Summer Semester CRN:
Academic Year: First Semester 1444 H

For Instructor’s Use only
Instructor’s Name: Dr. Salah Oraby
Students’ Grade: Marks Obtained /Out of 15 marks Level of Marks: High-Middle-Low

Notes:
The Assignment must be submitted on Blackboard  via allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented; marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman  font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.

Q1. Explain formula for individual’s income tax and business entities.

Q2. Arrange relative tax liability by filing status from lowest to highest?

Q3. Contrast concepts of Income from accounting , economic and tax perspectives.

Q4. Idinify Items that are not Income under US income tax law. ?

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