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3 years ago

If a schedule c taxpayer does not bring the tax professional documentation to prove income

1 answer:

4 0

If a schedule c taxpayer does not bring the documents to prove the income, one cannot claim the Earned Income Tax Credit. Also the return cannot be prepared by the tax professional however one can make a form 1099 MISC to indicate their own income and lastly they should give other proofs that the income is accurate so that the paper for return can have the sign needed.

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Explain how IT (Information Technology) impacts your career and the positive outlook for IS (Information Systems) management car

iren2701 [21]

Answer:

IT has impacted the career of individuals to great extend. The ease of using softwares and new technology has made life easier. The information system has led the data storage easier. Huge data can be stored and found within seconds when needed.

Explanation:

The management information system has made individuals store data within the storage disk. This data can be found in minutes.

8 0

2 years ago

Suppose you have a balance of $3000 on a credit card. Using the formula from Part G, consider the following scenarios:

Bumek [7]

Answer:

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3 years ago

Juan was considering purchasing an interest in a tax-exempt bond fund for $100,000 when he discovered that the interest must be

myrzilka [38]

Answer:

The double-exempt bond is the preferred investment because it has a higher after-tax return Tax benefit .

Explanation:

Calculatation of the after-tax return on both bonds

1)The double-exempt bond does not pay state or federal income taxes.

After-tax return =

Before-tax return = 4.9%

2)The tax-exempt bond is the state income taxes, but not federal in which the states can decide whether to tax their bonds or not.

Interest Income (100,000 * 5%) 5,000

Less: State taxes at 10% (5,000* 10%) (500)

Tax benefit from deduction of state taxes on federal return (500 * 35%) 175

After-tax Income 4,675

After-tax return = 4,675/100,000 = 4.675%

Therefore the double-exempt bond is the preferred investment because it has a higher after-tax return Tax benefit .

Hence the state income tax will be deductible on Juan’s federal tax return and Juan’s federal taxable income will be lower or lesser by $500 which will produces tax savings at his federal marginal tax rate of $500 * 35% = $175.

4 0

3 years ago

If an automobile manufacturer pays $200 for a car windshield, $400 for four car tires, $100 for a car CD player, and sells cars

elena55 [62]

Answer:

$20,000

Explanation:

GDP is the market value of all final goods and 

services produced within a country in a given period of time.

The GDP includes only the value of final goods, the value of manufactured automobile in this question, not the value of intermediate goods used in it, the windshield, tires, and others.

Reason: The price of intermediate goods (windshield, tires, CD player) is already included in the final price of $20,000.

Hence, GDP discourage to include these intermediate goods value as it will lead to double counting given that they're already included in final price of $20,000.

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3 years ago

A manager wants to determine the number of containers to use for incoming parts for a kanban system to be installed next month.

Gennadij [26K]

Answer:

a. 1.51 containers

b. Fewer

Explanation:

The computations are shown below:

a. The number of containers would be

= Annual demand × time × (1 + inefficiency factor) ÷ holding pieces

= 70 × 0.75 × (1 + 0.15) ÷ 40

= 1.51 containers

The time is converted from minutes to hour i.e 45 minutes ÷ 60 minutes = 0.75

b. If the system improves, the fewer containers are required i.e 2 containers approximate because inefficiency factor got decreased

6 0

3 years ago