Tax code changed from 489L to BR, what does it mean in terms of whether it will increase or decrease tax paid?
343727
BR is basic rate - it means that you will pay tax at the basic rate of 22% on all taxable income. It is also known as the emergency tax code.  If you have changed jobs recently you need to provide your new employer with your P45 from your previous employment as this will let your current employer know how much tax & NICs you paid in your previous job and lets them tax you at the correct rate rather than 22%.  \n\n489L is the standard allowance for a person under the age of 65 for the tax year 6 April 2005 - 5 April 2006, it basically means that the first £4,895 employment income that you receive is not taxed and the subsequent £2,090 is taxed at 10%, ie on the first £6,985 income you would only pay £209 tax.  Any earnings between £6,986 to £37,295 is taxed at 22% and above £37,296 is taxed at 40%.  This does not take into account any savings or dividend income which are taxed at 20% and 10 or 32.5% respectively.\n\nWhen your employer receives your tax coding they will normally apply a rate of tax from a special table meaning that your tax for the full year on your salary will be worked out and then you will pay the same amount of tax in each payment period.
867790
According to the IRS.....\nhttp://www.irs.gov/newsroom/article/0,,id=108331,00.html
213731
Its not clear, which limits you are referring to but still -\n\nif you are referring to taxable limit it is Rs.4 Lakhs and if you are referring to rate of tax it is 12%
787195
If we have incurred an expense, then we owe the money to someone.\nAs we are making an adjustment, it means we have not yet received and posted an invoice, so the liabilty has not yet been registered.\nWe therfore need to increase the balance of a liability account.\n\nB is the correct answer.
1036960
Except for the fact that there will be no Standard Deduction from the salary for the A Y 2006-07 all other matters remain same., \ni.e. all provision of HRA, Perquisites etc., remain same\n\nplease note that basic slab has increased to Rs. 100,000 and section 80 L (interest benefit) has been withdrawn
328840
Well, make certain you check this with your tax professional because mine has always said this is only for specific types of items such as an automobile.\n\nIt was certainly not my intention to insult anyone, I thought I was making a light joke. I apologize if I hurt your feelings.\n\nBut I do know in the past that we had asked about deducting sales taxes at H & R and were told that this had very strict limitations. She could have been wrong because they use a lot of temp help around tax time. Conversely, there is a person who asked a question because they now owe an additional $4400.00 to the IRS because of mistakes.\n\nThat really was all I meant.
294648
You will have to make the adjustment on the balance sheet, and a amended return on your taxes. The adjustment will show up on the balance sheet as an adjustment.
511733
Depends.  There should be an explanation as to what those details are (interest payments, fees).  Call your bank and ask for an explanation if you still don't understand.
123671
Impossible.  It is a percentage of whatever the product is.  For example the tax here is 5.5%.  If I buy something for 19.99, with tax it is 21.09.
449856
Tax laws change from year to year ... best get a new copy and write it off on your taxes. \n\nMake sure the shortcut points to the correct folder. You might have to re-install it but save last year's return first.
349187
After deductions the percentage taken out on the second job is higher than the first, and due to income tax brackets, the marginal tax rate for the third job will be higher than for the second.  However, it's impossible to know for certain without more information.  However, the total rate will be the same, even if you increase your hours and make the same amount on your first job.
777479
Depriciation is what the government allows a business to deduct from one's income taxes.   It is like for usage or wear and tear.   A building can be depriciated over 20 years.   Example; it cost $100,000 to purchase the bldg, over 20 years you can take 1/20 each year off your or the companys taxes ie $5,000.   There are other depriciation factors that can be used.   This is called straight line and is a simple way to explain it.   To answer your question, it would appear that one of two things have happen.   A number of expenditures were purchased over the year and therefore, would "increase the amount of depriciation" or depriciation rates have been changed, which is not a good thing to do.
851031
It means they paid you back...but, they paid you too much!  So, you still owe again!!!\n\nI would get with my Accountant or whom ever is paying your taxes and tell them to get on the ball and straighten this thing out... \n\nApparently they are not paying attention if your paying 2 - 3 times what you should be.. Or I would be seeking a different Accountant  PDQ!!!\n\nI wish you well..\n\nJesse
268238
I think your asking how can you have paid out more than your share of taxes.  If so then it means that either your employer has put you in the wrong tax bracket or your being taxed at a higher rate than what you should be for your income.  There is nothing wrong with doing this as you will get the difference back, just a question of money now or money later.
368414
Nope you ned to see the people @ the jobcentre UNLESS you prepared to break the law & do it illegaly - which aint right.  They will give you a temp N.I number to use for employment until you are issued your new one - you pay more tax for a while - which is refunded but looks like you going to have to suffer the wait mate.
1073261
% increase = 126000-120000/120000 *100\n\n= 6000*100/120000 = 5%
119769
If the money values are the same there is no problem. \n\n If the money values changed then you will need to file an admendment.