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photoshop1234 [79]
2 years ago
14

Toby kirkland’s parents claim him as a dependent on their tax return. Toby had earned income in the amount of $2,897. What is to

by’s standard deduction?
Business
1 answer:
labwork [276]2 years ago
4 0

When we use the IRS rule which states the standard deduction amount should be greater than $900 or the income earned by the taxpayer  for the year in addition with $300 (should not be exceeding the regular standard deduction). Income earned by Toby is $2,897, then add

$300 into it.

The correct standard deduction amount would then be $3,197 ($2,897 +300)=$3197.

Standard deduction is the deduction given by the income tax authorities  to the tax payer.

Internal revenue bulletin is the instrument used by the IRS for announcing all the rules.

To know more about Standard deduction here:

brainly.com/question/3158031

#SPJ4

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7 0
2 years ago
Root and Vine is a gardening collective and local delivery service started by two friends. Their clientele has grown, and they w
Zanzabum

The best and most correct answer among the choices provided by your question is the second choice or letter B. They could put up a partnership which <span>might best suit their growth.

</span>
A partnership<span> is a single business where two or more people share ownership. Each </span>partner<span> contributes to all aspects of the business, including money, property, labor or skill. In return, each </span>partner<span> shares in the profits and losses of the business.</span>


I hope my answer has come to your help. Thank you for posting your question here in Brainly.
3 0
3 years ago
Read 2 more answers
If ________ fails and cannot pay its​ liabilities, creditors can force the owners to pay the​ business's debts from the​ owners'
Gwar [14]

Answer:

partnership; least

Explanation:

In partnership, two or more people join together to form a firm called partnership firms for the motive of earning profits. The partners have unlimited liability which means they are responsible for meeting debt from their personal assets in case partnership defaults.

This feature of partnership offers assurance to the creditors that their investment is safe.

So, if partnership fails, the least an investor can expect to lose on his investment.

6 0
3 years ago
Establishing the structure of a portfolio to meet specific financial goals is called:
photoshop1234 [79]

Answer:

A I believe

Explanation:

4 0
3 years ago
If the absence of an agreement to the contrary in partnership, what are the all partners entitled?
Ne4ueva [31]

Answer:

d) All of above​

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A partnership agreement provides guidelines on how two or more partners will manage their partnership business. It is the contract that dictates each partner's roles,  profit and loss sharing formula, and personal liability of each in case of insolvency.

In the absence of a partnership agreement, the law prescribes that partners share profits and losses equally. All partners assume equal rights to responsibilities and liabilities.

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3 years ago
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