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2 years ago

Tax rates for propietorships, partnerships, and llcs __________ with the passage of the tax cuts and jobs act of 2017.

1 answer:

3 0

Tax rates for proprietorships, partnerships, and LLCs changed with the passage of the tax cuts and the jobs act of 2017.

Deductions, depreciation, expensing, tax credits, and other business-related tax items have been altered as a result of the Tax Cuts and Jobs Act ("TCJA"). Business owners can use this side-by-side comparison to comprehend the changes and make appropriate plans.

Some TCJA provisions that apply to individual taxpayers may also have an impact on corporate taxes. Reviewing the revisions to the individual tax code will help businesses and self-employed people understand how these provisions may affect their own business position.

For regular updates on tax reform, check IRS.gov/taxreform. Businesses can learn more about the provisions below and access the most recent information at Tax Reform Provisions that Affect Businesses.

To know more about the Tax cuts and job act, visit:

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Amy Lloyd is interested in leasing a new Honda and has contacted three automobile dealers for pricing information. Each dealer o

Ksivusya [100]

Answer:

For 12000, 15000 and 18000 miles per year respectively.

Dealer = Hepburn Honda:

10764 USD, 12,114 USD, 13464 USD

Dealer = Midtown Motors:

11,160 USD, 11,160 USD, 12,960 USD

Dealer = Hopkins Automotive:

11,700 USD, 11,700 USD, 11,700 USD

Explanation:

<em>Payoff Table Construction:</em>

The assumption of miles per year will definitely help to calculate the overall cost. Here we go:

1. Assumption no: 1:

12000 miles = 1 year

24000 miles = 2 years

36000 miles = 3 years

Let's calculate the cost for Hepburn Honda Dealer:

Dealer = Hepburn Honda:

3 years = 36 months

For 12000 miles per year drive

For 3 years = 36000 miles

So, we have:

36(299) + 0.15(36000 - 36000) = 10764 USD

For 15000 miles per year drive

For 3 years = 45000 miles

36(299) + 0.15(45000-36000) = 12,114 USD

For 18000 miles per year drive

For 3 years = 54000 miles

36(299) + 0.15(54000-36000) = 13464 USD

Above are the calculations for dealer Hepburn Honda. Now, let's calculate for the second one.

Dealer = Midtown Motors:

For 12000 miles per year drive

For 3 years = 36000 miles

So, we have:

36(310) + 0.20 x max(36000 - 45000) = 11,160 USD

For 15000 miles per year drive

For 3 years = 45000 miles

36(310) + 0.15 x max(45000-45000) = 11,160 USD

For 18000 miles per year drive

For 3 years = 54000 miles

36(310) + 0.20 x max(54000-36000) = 12,960 USD

Above are the calculations for dealer Midtown Motors. Now, let's calculate for the third one.

Dealer = Hopkins Automotive:

For 12000 miles per year drive

For 3 years = 36000 miles

So, we have:

36(325) + 0.15 x max(36000 - 54000) = 11,700 USD

For 15000 miles per year drive

For 3 years = 45000 miles

36(325) + 0.15 x max(45000-54000) = 11,700 USD

For 18000 miles per year drive

For 3 years = 54000 miles

36(325) + 0.15 x max(54000-54000) = 11,700 USD

Payoff Table:

For 12000, 15000 and 18000 miles per year respectively.

Dealer = Hepburn Honda:

10764 USD, 12,114 USD, 13464 USD

Dealer = Midtown Motors:

11,160 USD, 11,160 USD, 12,960 USD

Dealer = Hopkins Automotive:

11,700 USD, 11,700 USD, 11,700 USD

5 0

3 years ago

Marlena acquired the following new assets during 2017:

Mila [183]

Answer:

(A) Half-year and (D) Half-year

Explanation:

MACRS stands for Modified Accelerated Cost Recovery System and is the most commonly-used tax depreciation method .Without getting into too much detail, MACRS is accelerated depreciation that allows for a larger deduction while the asset is still new. By comparison, straight-line depreciation gives you the same deduction year after year over the asset's useful life. MACRS cannot be used for intangible property, nor can it be used to depreciate. MACRS convention determines the number of months for which you can claim depreciation during a partial year, either when you first placed the asset in service or when you disposed of it. The mid-month convention only applies to residential rental property, nonresidential real property, and railroad grading or tunnel bore. It simply means that you get a half month's worth of depreciation no matter when that asset was placed into (or taken from) service during that month, whether that was at the beginning, middle, or end of the month. The half-year convention works the same way but instead of the month it goes by the year. In other words, you'll get 6 months' depreciation if the asset was placed into service or disposed of during the year, no matter if it was in January or December.

5 0

4 years ago

Monmouth Inc.'s stock has a 30% chance of producing a 20% return, a 30% chance of producing a 10% return, and a 40% chance of pr

otez555 [7]

Answer:

Expected rate of return is 13%

Explanation:

Using the expected values method:

Expected Rate of return = Chance 1 * Outcome 1 + Chance 2 * Outcome 2 + Chance 3 * Outcome 3 + ................... Chance n * Outcome n

So by putting values, we have:

Expected Rate of return = 30% * 20% + 30% * 10% + 40% * 10%

Expected Rate of return = 6% + 3% + 4% = 13%

So the expected rate of return using the expected value method is 13%

3 0

3 years ago

Read 2 more answers

1. Applying Overhead to Jobs, Costing Jobs Gorman Company builds internal conveyor equipment to client specifications. On Octobe

Nezavi [6.7K]

Answer:

Job 877 878 879 880

Beginning 18,640

Materials 14,460 6,000 3,500 1,800

Labor 14,800 8,500 1,750 2,150

<em><u>Overhead 11,840 6,800 1,400 1,720 </u></em>

Total 59,740 21,300 6,650 5,670

WIP 21300 + 6650 + 5670 = 33,620

Job 877 59,740 x (1 + 50%) = 89610

Explanation:

The overhead will be calcualte as 80% of the labor cost as tstated in the assignment

Then, the total cost will be the sum of the three cost component added during the period andthe beginnign WIP is there is any,

as job 877 is complete it will be removed from WIP leaving only the other three jobs.

the markup is 50% of the cost so we simply multiply cost by 1.5

8 0

3 years ago

It is generally accepted that:

Elan Coil [88]

Answer:

b. supply chain management encompass activities that are broader than those of logistics management

7 0

3 years ago