Answer:
The allowance can be taken based on:
a reduction (production) of the oil and gas reserves.
Explanation:
A limited partnership's allowance for depletion is a special form of depreciation used to account for the gradual reduction in the value of natural resources based on their usage or consumption. There are two methods for recognizing depletion of natural resources. They are the cost depletion method, which is based on usage, and the percentage depletion method, which is a percentage of gross earnings. Then, depletion is different from depreciation, in that depreciation is for tangible assets, while depletion is for natural assets.
Answer:
b. If the employer accepts Turner's counteroffer, Turner will recognize as gross income $55,000 per month [($480,000 + $180,000)/12].
Explanation:
Given that
Turner annual salary = $600,000
Counteroffer to received a monthly salary = $40,000 or $480,000 annually
And, $180,000 bonus in 5 years at the age of 65
So the benefit he will be getting would be after accepting the counter offer is
= ($480,000 + $180,000) ÷ 12 months
= $660,000 ÷ 12 months
= $55,000
Parents may claim a $2,000 child tax credit for a dependent child who is 22 years of age at the end of the year if the child is a full-time student. The Child Tax Credit is a refundable tax benefit claimed by filing Form 1040 claim a tax credit of $2,000 per qualifying dependent child under age 17
<h3>What is
Child Tax Credit?</h3>
Different nations offer parents with dependent children a tax advantage known as the child tax credit (CTC). The credit is frequently correlated with the number of dependent children a taxpayer has, as well as occasionally with their income. For instance, only families in the United States who earn less than $400,000 year are eligible to get the entire CTC. Similar to the United States, only families earning less than £42,000 a year are eligible for the tax credit in the United Kingdom.
The federal child tax credit (CTC) in the United States is a tax credit that is only partially refundable for parents of dependent children. Subject to an earned income level and phase-in, it offers $2,000 in tax relief per eligible kid (with up to $1,400 of that amount being refundable).
To learn more about Child Tax Credit from the given link:
brainly.com/question/17395659
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Answer:Highlight celebrities who use Sumac e-readers.
Explanation:
According to the question, due to tough competition in market regarding the e-reading product , Sumac industries wants that they can have superior position in e-reader market than other e-reader business organizations.Thus,they want a secure position for their company.
A good strategy for maintaining their position can be done through putting spot-light on the celebrity users of Sumac e-reader.This will be highlighted among celebrity fans or followers and general customers. It will promote or inspire people to purchase Sumac e-reader more as celebrities are using their product.
