Key Difference – W9 vs 1099 Tax filing can often be confusing with an abundance of related paperwork that bears various names and identifiers. W9 and 1099 are such two forms used for tax filing under the regulations of Internal Revenue Service (IRS). The key difference between W9 and 1099 is that W9 is […]
Difference Between I9 and W9
Key Difference – I9 vs W9 Employee verification and tax collection are two vital elements that governments are interested in. Governments in many countries have specified a number of rules and regulations for tax collection and employee verification. I9 and W9 are two forms used for such activities in the United States to ensure […]
Difference Between W2 W4 and W9
Key Difference – W2 vs W4 vs W9 Since tax amounts to a major source of revenue to the government, it is important to ensure that sufficient amounts are deducted from each taxpayer. W2, W4, and W9 are three tax-related documents in the United States that must be filled by employers, employees and independent […]
Difference Between ITIN and SSN
Key Difference – ITIN vs SSN ITIN (Individual Tax Identification Number) and SSN (Social Security Number) are two country-specific forms of identifications in the United States that are used for tax collecting purposes by the government. Knowledge regarding both ITIN and SSN makes it easier to distinguish between the two, especially for foreign nationals […]
Difference Between TDS and TCS
Key Difference – TDS vs TCS Indirect tax is a main source of income for governments since it often amounts to a major portion of the revenue that will be used in a number of development projects. TDS (Tax deducted at source) and TCS (Tax Collected at Source) are two terms given for types of […]
Difference Between Foreign Exchange Risk and Exposure
Key Difference – Foreign Exchange Risk vs Exposure Foreign exchange risk and exposure are two terms that are confused to be the same since they are often used interchangeably. However, their meanings are different in nature, though closely related. Foreign exchange risk and exposure are experienced by companies that have business operations in multiple […]
Difference Between Transaction and Exchange
Key Difference – Transaction vs Exchange Transaction and exchange are two terminologies that are often used interchangeably due to the similarities between them. Furthermore, both these terms are used in various contexts and subject matter where their meanings are different depending on the circumstances in which they are used. The key difference between transaction […]
Difference Between Monetary and Nonmonetary Assets
Key Difference – Monetary vs Nonmonetary Assets An asset is a resource with economic value that is owned or controlled by a company. Monetary and nonmonetary assets are one important classification of assets. The key difference between monetary and nonmonetary assets is that monetary assets can be readily converted into a fixed amount of […]
Difference Between TIN and TAN
Key Difference – TIN vs TAN Rules and regulations for tax payments should be effective in nature in order to avoid tax evasion. Governments continuously attempt to improve the ways of collecting tax efficiently since tax payments by the individuals and corporates is a main source of income for governments. TIN (Taxpayer Identification Number) […]
Difference Between Transaction and Translation Risk
Key Difference – Transaction vs Translation Risk Transaction and translation risks are two major types of exchange rate risks faced by companies that engage in foreign currency transactions. The key difference between transaction and translation risk is that transaction risk is the exchange rate risk resulting from the time lag between entering into a contract and […]
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