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Tasya [4]
3 years ago
14

Brandon and jane forte file a joint tax return and decide to itemize their deductions. the forte's income for the year consists

of $120,000 in salary, $1,000 interest income, $1,500 nonqualifying dividends, and $1,000 long-term capital gains. the forte's expenses for the year consist of $3,000 investment interest expense and $900 tax preparation fees. assuming that the forte's marginal tax rate is 30%, what is the amount of investment interest expense deduction for the year?
Business
1 answer:
netineya [11]3 years ago
8 0
The interest income for the year is $1000. The investment interest expense is $ 3000. As per the provision the investment income expenses deduction is allowed to the extent of investment income. The amount which could not be deducted can be carried forward for next year. So the investment interest expenses allowed as deduction is limited to $1000 for Forte for the year. Since the dividend income is non qualifying income no expense is allowed on such income.
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Even though the united states has an unemployment compensation program that provides income for those out of work, should we sti
Margaret [11]

Yes, as the unemployment compensation scheme only provides the unemployed with enough money to meet their basic necessities.

Payments provided to unemployed persons by authorised authorities are known as unemployment benefits, sometimes known as unemployment insurance, unemployment payment, unemployment compensation. Benefits are paid for in the US through a mandatory government insurance programme, not through individual citizen taxes. Those amounts may be little, merely covering the most basic requirements, or they could make up for the lost time proportionate to the prior earned wage, depending on the jurisdiction and the individual.

Only individuals who register as becoming unemployed due to no fault of their own are often eligible for unemployment benefits, and frequently only on the condition that they actively seek employment.

To know more about unemployment compensation refer here:

brainly.com/question/13946370

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5 0
2 years ago
You have recently found a location for your bakery and have begun implementing the first phases of your business plan. Your budg
kvasek [131]

Answer:

$118250

Explanation:

You have $118250 at your disposal to spend; regardless of it being a loan or not.

Cheers

8 0
4 years ago
Read 2 more answers
Entry for Jobs Completed; Cost of Unfinished Jobs
frosja888 [35]

Answer:

a. Journal Entry to record the jobs completed:

Debit Finished Goods Inventory $178,710

Credit Work in Process $178,710

To record the jobs completed.

b. The cost of the unfinished jobs at August 31 is:

= $23,080

Explanation:

a) Data and Analysis:

Work in Process

Account Titles        Debit      Credit

Balance, August 1  $8,920

Direct materials     72,520

Direct labor            78,230

Factory overhead   41,120

Finished goods inventory   $178,710

Balance (unfinished jobs)     23,080

Total                  $201,790 $201,790

Jobs finished during August are summarized as follows:

Job 210  $36,140

Job 216   22,090

Job 224   42,170

Job 230   78,310

Total     $178,710

a. Journal Entry Analysis to record the jobs completed:

Finished Goods Inventory $178,710 Work in Process $178,710

b. The cost of the unfinished jobs at August 31 is:

= Total of work in process Minus Finished Goods

= $201,790 - $178,710

= $23,080

5 0
3 years ago
Making small talk at a meeting is a bad idea because ______.
faltersainse [42]

Making small talk at a meeting is a bad idea because it wastes a tremendous amount of time. Correct answer: B  It is critical to ensure that meetings are well-organized, planned, and beneficial to the participants. The less time spent in meetings, the more productive and revenue-generating employees can be. Making small talk will only decrease the effcient time for the meeting.

7 0
3 years ago
Read 2 more answers
Jove is a chocolate manufacturing company in Harrington City. While most of its competitors produce not more than three basic va
Lunna [17]

Answer:

<em>c. Sustainable Competitive Advantage</em>

Explanation:

<em>Sustainable competitive advantages</em> are business assets,  characteristics, or capabilities that are hard to replicate or achieve ;  and provide a long-term superiority or favorable role over competitors.

Types of Sustainable Competitive Advantage include:

  • <em>Reduced cost provider / Fair pricing </em>
  • <em>Market or Pricing Power </em>
  • <em>Strategic assets </em>
  • <em>Excellent management / employees </em>
6 0
3 years ago
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