The government provides many good and services to tax payers and firms. Name & Explain three...

The government provides many good and services to tax payers and firms. Name & Explain three economic reasons they do this. Support answer with evidence.

Expert Solution

The government provides various goods and services to taxpayers and firms:

1.) The government does this many times to encourage production.

For example when government provides subsidy to industry it encourages the industries to produce more so that they can produce as much as possible which will help government generate further revenue .

2.) Further they provide goods and services like education.

They provide us with quality education services or sometimes free education too so that the literacy rate of the country may increase which will again lead to economic development.

For example when government comes up with free schools or education schemes , it's motto is to increase its literacy rate.

3.) Thirdly, the government provides benefits which would protect their rights and help them to live freely, safely and securely in the country.

For example, the government provides with law and order, infrastructure , health care scheme which protects the rights and interests of the citizens and also help in the development of the nation.

Rahul Sunny answered 1 year ago

1. Name 3 new tax law changes as it relates to Individual Tax Payers? 2. Name...

1. Name 3 new tax law changes as it relates to Individual Tax Payers? 2. Name 3 new tax law changes as it relates to Corporate Tax Payers? 3. What is the new “Pass thru” tax deduction? Which entities does it apply to? 4. Do you think that by reducing the corporate tax rate it will help or hurt the United States?

Bridges and Lloyd, an accounting firm, provides consulting and tax planning services. For many years, the...

Bridges and Lloyd, an accounting firm, provides consulting and tax planning services. For many years, the firm's total administrative cost (currently $250,000) has been allocated to services on the basis of billable hours to clients. A recent analysis found that 65% of the firm's billable hours to clients resulted from tax planning services, while 35% resulted from consulting services. The firm, contemplating a change to activity-based costing, has identified three components of administrative cost, as follows: Staff Support $ 180,000...

COVID 19, an accounting firm, provides consulting and tax planining services. For many years, the firm's...

COVID 19, an accounting firm, provides consulting and tax planining services. For many years, the firm's total administrative cost (currently $270,000) has been allocated services on this basis of billable hours to clients. A recent analysis found that 5596 of the firm's billable hours to clients resulted from tax planning services, while 45% resulted from consulting services The firm, contemplating a change activity-based costing, has identified three components of administrative cost, as follows Staff Support $200,000 In-house computing charges 50,000...

Subject Name: Accounting Theory KKL consultancy Muscat provides tax and financial advisory services to their customers....

Subject Name: Accounting Theory KKL consultancy Muscat provides tax and financial advisory services to their customers. Mazin is one of their new client, who worked as an engineer. Mazin wanted to start a project and contacted KKL consultancy Muscat for advice regarding profitable investment opportunities. KKL have recommended him to invest in finance companies, stock market and insurance. KKL assured him that they will look after his matters relating to tax, and would also invest in the name of the...

Name and explain the benefits of three(3) characteristics of a good strategy.

Principals of healthcare reimbursement. Describe three cost controls used by government payers and insurance companies.

Over the past three decades about half of the public firms were regular dividend payers, while...

Over the past three decades about half of the public firms were regular dividend payers, while the other half were not paying dividends at all. Assuming wealth maximization of shareholders is a primary objective of the management, explain: a) why some firms choose to pay dividends consistently (give at least three possible reasons); b) why other firms choose not to pay any dividends at all (at least three reasons); c) why some other firms choose to combine stock repurchases and...

A country's financial system provides three services to savers and borrowers. One of these services is...

A country's financial system provides three services to savers and borrowers. One of these services is a. the ability of savers to maximize risk. b. the ability of the financial system to buy and sell stocks. c. the ability of savers and borrowers to maintain a sound investment. d. the ability of the financial system to transfer information.

Identify the different accounting periods which tax payers can choose and explain the importance of having...

Identify the different accounting periods which tax payers can choose and explain the importance of having a set accounting period from a tax perspective.

Three taxes: Sales Tax, Property Tax, and Income Tax. Name three types of taxes and analyze...

Three taxes: Sales Tax, Property Tax, and Income Tax. Name three types of taxes and analyze the deadweight loss of each. Which of these taxes do you believe create the highest deadweight loss? Why? Why is deadweight loss disagreed on by experts? Explain.

Question