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Tcecarenko [31]
1 year ago
5

Which is more valuable a tax credit or deduction?

Business
1 answer:
Brilliant_brown [7]1 year ago
5 0

A tax credit will reduce your tax bill more than a tax deduction for the same amount, if all other factors are equal.

<h3>Which is more valuable, tax credits or deductions?</h3>

A tax deduction lowers the amount of your taxable income, which is used to compute your tax responsibility, whereas a tax credit lowers your tax liability dollar for dollar. Because they lower your tax burden by one dollar for every dollar of the credit, tax credits are typically more valuable.

<h3>What distinguishes a tax credit from a tax deduction?</h3>

Dollar per dollar, tax credits lower taxable income. Tax credits are typically more beneficial than tax deductions because they directly and dollar-for-dollar lower a taxpayer's gross tax liability.

To know more about tax credit or deduction visit:-

brainly.com/question/28265848

#SPJ4

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Issues $10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2018. Interest is paid on June 30 and December 31. The proceed
igomit [66]

Answer:

B. $784,249

Explanation:

The effective interest amortization is an accounting practice used for discounting a bond. This method isused for bonds sold at a discount; the amount of the bond discount is amortised as interest expense over the bond's life

Interest expenses for 6 months from Jan 1st to Jun 30th is $392,083 = $9,802,072* 8%/2

Amortization of Discount is $2,083= $9,802,072* 8%/2 - 10,000,000*7.8%,/2

Carry Amount of Bond on June 30 $9,804,155= bond proceed of $9,802,072 + Amortization of Discount is $2,083

Interest expenses for 6 months from Jul 1st to Dec 31st is  $392,166 = Carry amount of Bond $9,804,155 x effective rate 8%/2

Total interest expense will be recognized in 2018 is $784,249 = $392,083 + $392,166

8 0
3 years ago
Robert's credit card has a balance of $645.42, but the amount that he needs to pay to bring the card to a $0 balance is $1235.18
TEA [102]

Answer:

Robert's interest rate is 91.46%.

Explanation:

Given that Robert has $ 645.42 on his credit card balance, but the payment he needs to make to bring his balance to $ 0 is $ 1235.18, the interest rate for non-payment that he has in his account is as follows:

645.42 = 100

1235.18 = X

((1235.18 x 100) / 645.42) = X

191.46 = X

Therefore, since 191.46 - 100 is equal to 91.46, the interest rate that this account has is 91.46%.

7 0
3 years ago
i make new beat every months and i record at least three songs in a month. how many beat i make in six months and how many song
Lady_Fox [76]

Answer:

36 songs.  12 beats.

Explanation:

7 0
3 years ago
Mary, Ann, and Beth are partners. Their capital balances​ are, ​; ​; and ​, respectively. As per the partnership​ agreement, Mar
77julia77 [94]

Complete Question:

Mary, Ann, and Beth are partners. Their capital balances are $23,000, $41,000 and $30,000 respectively As per the partnership agreement Mary receives a profit share of 2/9, Ann has 4/9, and Beth has 39 Beth withdraws from the partnership by receiving $23.000 What will be the impact of this transaction on the journal entries?

A. Cash will be debited for $30,000

B. Mary. Capital will be debited for S 7,000

C. Ann, capital will be credited for $7,000

D. Beth, Capital will be debited for $30,000

Answer:

D. Beth, Capital will be debited for $30,000

Explanation:

The entry would be reduction in capital by $30,000 because his investment is sold for $23,000 and the remainder $7,000 would be profit for two remaining partners and would be shared with their respective ownership.

The entry is as under:

Dr Beth Capital Account $30,000

Cr               Mary Capital A/c              $2,333            (1/3) of $7,000

Cr               Ann Capital A/c                $4,667            (1/3) of $7,000

Cr              Cash Account                    $23,000

Hence the option D is correct here.

Option A is incorrect because cash wasn't debited with.

Option B is incorrect because Mary capital wasn't debited, it was credited.

Option C is also incorrect because Ann's capital was credited but with (2/3) share.

5 0
3 years ago
Select two ways of becoming a business owner. compare the advantages and disadvantages and decide which of the two you would pre
ankoles [38]
1. Start your own business; your independent but usual the business will fail
2. Take over a family-owned business - might not get alone with your family but you would be working with people your comfortable with  
 
i really hope this helps 
8 0
3 years ago
Read 2 more answers
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