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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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Everfi: Module 3Budgeting for NeedsSelect the items that are needs from your bank statement. the Available Balance$230.00 Cell p

erastova [34]

Answer: car insurance electric bill cell phone plan

Explanation: thats the amount it came out to

5 0

4 years ago

Pina Colada Furniture factors $670000 of receivables to Sheffield Factors, Inc. Sheffield Factors assesses a 2% service charge o

Reika [66]

Answer and Explanation:

The journal entry is shown below;

Cash $656,600

Factoring charges (2% of $670,000) $13,400

To Trade Receivables $670,000

(Being recording these receivables)

Here cash and factory charges is debited as it increased the assets and expense while the trade receivable is credited as decreased the assets

3 0

3 years ago

Fixed vs Variable cost preference. Bates operates a kiosk at a local mall, selling duck calls for $30 each. The variable cost to

GuDViN [60]

Answer:

Option 2 should be selected

Explanation:

Using a rational approach which option most benefit and have a minimum cost. We will use the break-even level here to decide which option should be selected.

Option 1

Price per call = $30

Variable cost per call = $18

Contribution = Sales - Variable cost = $30 - $18 = $12

Fixed Cost = $15,000

Break-even point = Fixed cost / Contribution per call = $15,000 / $12 = 1,250 calls

Option 2

Price per call = $30

Variable cost per call = $18 + ( $30 x 10% ) = $18 + $3 = $21

Contribution = Sales - Variable cost = $30 - $21 = $9

Fixed Cost = $9,000

Break-even point = Fixed cost / Contribution per call = $9,000 / $9 = 1,000 calls

Difference = 1,250 calls - 1,000 calls = 250 calls

Option 2 is better option because it take 250 less calls to reach at break-even in the month. It should be selected.

8 0

3 years ago

In a perfectly competitive market with 50 firms, output is zero at prices less than $20. At prices of $20 to $29.99, each firm w

Jobisdone [24]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

In a perfectly competitive market with 50 firms, output is zero at prices less than $20.

At prices of $20 to $29.99, each firm will produce 1 unit of output.

At a price of $27, the industry produces 50*1= 50 units.

At any price of $30 or more, each firm will produce 3 units of output.

At a price of $35, the industry produces 50*3= 150 units.

8 0

3 years ago

The Superior Insurance Company of Maine recently advertised the following discounts for qualified drivers: 6 percent discount t

Vladimir [108]

Answer:

$630

Explanation:

Calculation for her new premium if she transfers to the Superior Insurance Company

First step

Drivers aged 24 to 49 0.05

Discount for cars with antitheft device 0.11

Driving Course 0.03

Accident Free 0.06

TOTAL 0.25

Second step is to Calculation for her new premium

New premiun=$840*(1-0.25)

New premium =$840*0.75

New premium =$630

Therefore her new premium if she transfers to the Superior Insurance Company will be $630

6 0

3 years ago