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4 years ago

How can homeowners lower their income tax?

Business

1 answer:

Svetach [21]4 years ago

4 0

Answer:

homeowner can deduct all interest on 2 homes on first lien up to 1 million mortgage amount accumulated

also deductible is a home eq line of credit/second mortgage on both homes up to 100,000 dollars, can borrow more than 100k if its for medical

Explanation:

HOPE THIS HELPS.

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When an organization has a diverse set of employees that can provide insight and cultural sensitivity, this should improve the c

Elena L [17]

Answer:

Since the question is an open-ended one, the possible answers are,

A Variety of Perspectives about any matter, business conflict or situation

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Reduced tension among work groups and therefore, Improved Performance. .

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4 years ago

Honi is not a resident of Iowa although her website can be accessed by residents of that state. Jean files a suit against Honi i

Slav-nsk [51]

Answer:

Option "C" is the correct answer to the following statement.

Explanation:

If a Person Files a suit Against another person, there will be some relation must be held between these people.The relation between two people may be direct or indirect.

In the case of Honi and Jean, Jean has must be related to Honi's website or website business to files a suit against Honi.

The court will judge decision after knowing that substantial relation.

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3 years ago

Jane is having difficulty deciding whether to put her savings in the Mystic Bank or in the Four Rivers Bank. Mystic offers a 12%

Viefleur [7K]

Answer:

The answer is option (C). Four Rivers Bank

Explanation:

a). The total amount Jane will receive after 5 years after investing $40,000 in the Mystic Bank can be expressed as follows;

A = P (1 + r/n) (nt)

where;

A = the future value of the initial investment

P = initial investment amount/principal amount

r = the annual interest rate

n = the number of times that interest is compounded per unit t

t = the time the money is invested for

In our case;

P=$40,000

r=12/100=0.12

n=interest is compounded quarterly which is four times a year=4

t=5 years

Replacing values in the formula;

A=40,000(1+0.12/4)^(4×5)

A=40,000(1+0.03)^20

A=40,000×1.806

A=72,244.45

The total amount Jane will receive after 5 years if she chooses to invest with the Mystic Bank is $72,244.45

b). The total amount Jane will receive after 5 years after investing $40,000 in the Four Rivers Bank can be expressed as follows;

A = P (1 + r/n) (nt)

where;

P=$40,000

r=14/100=0.14

n=interest is compounded semiannually which is two times a year=2

t=5 years

Replacing values in the formula;

A=40,000(1+0.14/2)^(2×5)

A=40,000(1+0.07)^10

A=40,000×1.967

A=78,686.05

The total amount Jane will receive after 5 years if she chooses to invest with the Four Rivers Bank is $78,686.05

c). The best deal would be to invest with Four Rivers Bank for 5 years since the total amount Jane will receive after 5 years will be $78,686.05 which is greater than $72,244.45, which is the total amount she will receive if she chooses to invest with Mystic Bank

6 0

3 years ago

The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, where 260 ar

scZoUnD [109]

Answer:

Ending Inventory= $1603 and Cost of goods sold= $2087.

Explanation:

Here is the complete question: The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, where 260 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.'

Determine the cost assigned to ending inventory and to cost of goods sold using Specific identification method.

First, lets find out Ending Inventory:

Value of units taken as per the date of purchase.

Ending Inventory= $(260\times \$ 5.60)+ (5\times \$ 6.60)+(15\times \$7.60)$