Answer:
Consider the following explanation
Explanation:
Foreign tax credit allowable is the minimum of Federal Income Tax and Income tax paid in foreign country. Here, Jimenez had paid 40% (2,000,000/5,000,000) income tax in foreign country. So. Jimenez will only be eligible to take foreign tax credit of 1,050,000 i.e. 5,000,000 * 21% and there will be carryover of $950,000 (2,000,000 - 1,050,000) foreign taxes.
There is carryover tax when we cannot use the whole amount of foreign tax credit in the current year and the balance foreign tax is carried over to future years.
Answer:
(E)
Explanation:
Since SwimFit wants to improve the quality of its goggles and other products inorder to achieve better quality than that of its competitor it is termed reverse engineering.
Any reproduction of another manufacturer's product after examination of how it is made is called reverse engineering.
An example of this scenario occurs in real life when a close competitor of a firm invents a new mobile phone with certain features. Within a few weeks the other firm might release their own mobile phone with similar or even better features.
Answer: See explanation
Explanation:
I believe that the main thing here that can favor my company is if there's documentation for every process involved with my dealings with Regina Fabrics.
This could have been solved if she didn't reject the cash that was offered to her company after two months, so there should be a formal documents that shows that she rejected the cash which should be acknowledged and signed by her. Also, the monthly payments received by her should be documented as well.
With regards to the above, if there is a formal documentation in place, then I won't have to pay as the guaranty but if this isn't in place, then I may have to pay since there won't be evidences against her.
Answer: check
Explanation:
A <em>check</em> is drawn on a financial institution and is payable upon demand.
Interest rates would increase since the tax-exempt status of municipal bonds would lose some of its appeal and there would be less of a market for them as a result of the lower income tax rates.
When the income tax rate is reduced for municipal bonds, the value of the bonds will also decline because the tax-exempt status for the bonds will also be reduced as a result of the lower income tax rate. Additionally, it lessens the demand for municipal bonds.
To know more about the municipal bond visit here :
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