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Gwar [14]
3 years ago
14

During the current year, Paul, the vice president of a bank, made gifts in the following amounts: To Sarah (Paul's personal assi

stant) at Christmas $36 To Darryl (a key client)—$3 was for gift wrapping 53 To Darryl's wife (a homemaker) on her birthday 20 To Veronica (Paul's boss) at Christmas 30 In addition, on professional assistants' day, Paul takes Sarah to lunch at a cost of $82. Presuming that Paul has adequate substantiation and is not reimbursed, how much can he deduct?
Business
1 answer:
nataly862011 [7]3 years ago
8 0

Answer:

$78

Explanation:

Gifts made to customers or employees are deductible up to $25 per customer or employee:

  • Darryl $25 + $3 in wrapping costs
  • gifts to Darryl's wife is not tax deductible
  • Sarah $25
  • Veronica $25

total tax deductions = $78

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From this theory , as the unemployment increases ,  the wages of the employed candidates tends to remain same or increases very slowly due to to decrease in the demand of the labor .

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Which one of the following is not a primary component of an internal control system?
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The following is not a primary component of an internal control system <u>Control environment .</u>

<u />

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5 0
1 year ago
Melody and Todd are married and have employee wages of $250,000 each in 2019. They have no other income. How much additional 0.9
sasho [114]

Answer:

$1,350

Explanation:

The computation of the amount pay or received as a refund at the time of filing the income tax return for the year 2019 is shown below:

As we know that

The Medicare tax rate is 1.45% till $200,000

And, if it is above $200,000 than 2.35% is charged (1.45% + 0.9%)

Now

For individually calculated,

Melody = ($200,000 × 1.45%) + ($50,000 × 2.35%) = $4,075

Todd = ($200,000 × 1.45%) + ($50,000 × 2.35%) = $4,075

So, the total is

= $4,075 + $4,075

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So, the Total is

= $3,625 + $5,875

= $9,500

Now the refund is

= Joint return - individually return for each one

= $9,500 - $8,150

= $1,350

4 0
3 years ago
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