Answer:
Tony is a 45-year-old psychiatrist who has net earned income of $300,000 in 2020. What is the maximum amount he can contribute to his SEP for the year? 300,000x.25= 75,000 or $57,000
$57,000
Explanation:
Answer:
C expense meaning cost money
Answer:
0.4868%
$615.47
Explanation:
Given that
a. EAR = 6%
Thus,
Equivalent monthly rate = (1 + r)^n - 1
Where r = EAR
Therefore
= (1 + 0.06)^1/12 - 1
= 1.0048675 - 1
= 0.0048675 × 100
= 0.4868%
b. Given that
Monthly rate = 0.4868%
Future value = 100,000
Time = 10 years
Recall that
FV annuity formula = C × (1/r) × ([1 + r ]^n - 1)
Where
C = payment
Therefore
100000 = C (1/0.004868) × ([1 + 0.004868]^120 - 1)
C = 100,000/(1/0.004868) × ([1 + 0.004868]^120 - 1)
C = $615.47 per month
Answer:
enterprise resource planning.
Explanation:
Enterprise resource planning involves management of main business processes and usually involves use of software. ERP supports similar processes based on the department it is deployed to.
For example ERP can be set up in a company to define various functions of human resources, accounting, amd operations.
The software used for each division will be tailored to their needs. Operations will be more towards everyday processes of production and customer service, while for human resources it will support more of data analysis for effective people management and performance related activities.
Answer:
B) False: since it is still a closely held C corporation, it cannot reduce its ordinary income through passive losses. If it hadn't been a closely held C corporation then it could have made the deductions.
Explanation:
Passive losses are losses resulting from financial activities, i.e. investments in other corporations where the investor doesn't participate in.
Passive losses cannot offset ordinary income, they must be matched against passive gains only. If passive losses exceed passive gains, they can be carried forward without limitation.
The only exception applies to C corporations that are not;
- closely held corporations or
- personal service corporations.
Qualifying C corporations can actually deduct passive losses from certain ordinary income.
Closely held C Corporations are corporations where during the last 6 months, 50% or more of its stock is owned by 5 or fewer investors.
