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ipn [44]
2 years ago
12

A person earns $40,000 per year. She deducts $2,000 for charitable donations. She also receives a $3,000 tax credit. What is the

person's gross income
Business
1 answer:
avanturin [10]2 years ago
8 0

A person's annual income is $40,000. She subtracts $2,000 for donations to charity. If she is also given a $3,000 tax credit, her total income would be $38,000.

<h3>What is the tax credit?</h3>

Tax credits are financial incentives that let some taxpayers deduct their accumulated credits from the total amount they repose on the state.

It can also be called as a “discount” that is offered by the state in some circumstances, or a credit given in recognition of prior tax payments. It is not considered as a part of person's income.

The person's gross income would be $38,000 ($40,000 – $2000), here, the Gross Income does not include the deduction, this is considered in the Net taxable income.

Learn more about the tax, refer to:

brainly.com/question/16423331

#SPJ1

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As a CA employer, in terms of record retention, what three types of records do I need to pay special attention to? Group of answ
ra1l [238]

CA Employers need to pay attention to the following records:

  • Safety and toxin/chemical exposure records, including safety data sheets: keep for 30 years.
  • Pension and welfare plan information: keep for six years.
  • First-aid records of job injuries causing loss of work: keep for five years.

<h3>Which records need to be kept by CA employers?</h3>

The state of California requires that employers in the state should keep certain records.

Pension and welfare records should be kept for 6 years while first-aid records should be kept for 5 years.

Safety and chemical records are placed a high value on and should be kept for 30 years.

Find out more on California employer requirements at brainly.com/question/26463698.

#SPJ12

8 0
2 years ago
How might a college degree serve as a certification, like in the used car market with a car inspection? What effect might this h
Sonbull [250]
In order to get a certification from automobile service excellence to become an automotive appraiser, you need a college degree. This will make your appraisal result more trustworthy for the consumers.

The effect this might have on the market : it will prevent any undersell or oversell  used or damaged automotive products to be sold in the market
6 0
3 years ago
Difference between disposition and sentencing
Vladimir79 [104]
Disposition means: a person's inherent qualities of mind and character.

And sentencing means: declare the punishment decided for (an offender

Hope this helps
5 0
3 years ago
How are issues such as customer theft and spoilage addressed at year-end?
forsale [732]
In accounting, the inventory is always done annually so inventory must always be accounted for at the year end. In order to address issues such as customer theft or spoilage, you have to minus (it's market value) from the beginning inventory. 
7 0
3 years ago
The catalyst for the market revolution was a series of innovations in
lord [1]

The innovation of Transportation and Communication act as catalyst for Market Revolution in the 18th Century.

The term "Market Revolution" describes a fundamental transformation to the U.S. economy in the 18th and 19th Century as a result of widespread mechanization of industry and the expansion of various domestic and foreign economic markets.

The revolution brought about an explosive economic growth and new personal wealth in the country.

The impact of the transportation and communication industry brought about the increased improvement in Market Revolution because its speed and lowered the expense of commerce during the period.

Therefore, in conclusion, the Transportation and Communication are the catalyst for the Market Revolution.

Learn more about Market Revolution here

<em>brainly.com/question/8173033</em>

3 0
3 years ago
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