Answer:
$3,544
Explanation:
The maximum immediate expenses amount of $5000 phases out for dollar if more than $50,000 of start-up cost are incurred. Thus, the immediate expensing is $3,000
($5000 - ($52,000 - $50,000))
∴ ($5000 - ($2000) = $3000
The amortization is $544
($49,000/180) × 2 months
= $544
The total amount she may deduct = $3000 + $544 = $3544.
Answer:
Javier owes money to the federal government based on his earnings.
Explanation:
Direct taxes are levied directly on the income of an individual or a business. Javier pays income tax on his earnings which is classified as a direct tax. Other examples of direct taxes include corporate tax and property tax.
All other options are examples of indirect tax as they are being levied on goods and services. Such taxes are usually included in the price. For e.g. General sales tax and value added tax.
Answer:
1. Short-term capital gains of $10,000 from the sale of stock.
2. Long-term capital gains of $80,000 from the sale of real property and
3. Interest income from Pete’s savings account.
Explanation:
An income statements shows revenue, expenses and net income over a specified period of time. Revenue (gross revenue or sales revenue) consists of cash inflows and interests both short term and long term such as profits, interest on investments. Expenses consist of cash outflows, using-up of assets and incurred liabilities such as tax, rents and so on. Gifts are not included as part of income statements
Answer:
The correct answer is B.
Explanation:
Giving the following information:
If he does not earn any income, he receives $225 from each program. For each dollar he earns (which his employer is required to report to the welfare agency), his benefit from each program is reduced by 75 cents until the benefit equals zero.
Each program= 225
Combined earnings= 225*2= 450
Answer:
the opportunity cost of going to work on saturday is $32
Explanation:
The opportunity cost of going to work on saturday is as follows:
= Income earned on saturday - psychic cost
= 4 hours × $11 - ($2 × 4 hours)
= $44 - $8
= $32
hence, the opportunity cost of going to work on saturday is $32