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3 years ago

Who is responsible for payment of self-employment tax on fees received by a professional fiduciary?

1 answer:

8 0

<span>If a person is self employed, they are responsible for paying their own taxes. There are tables available on line to calculate the amounts. They should be paid no less than quarterly. If the income is significant, an account should be set up, or they should be paid more frequently. There are fees for late payments.</span>

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The town of Harmonia gives away all 500 tickets to its annual Founder's Day Free ConcertminusinminustheminusPark to local resid

Novosadov [1.4K]

sold 500 tickets therefore it is not economically efficient

4 0

3 years ago

Suppose the state of Wyoming passes a law that increases the tax on cigarettes. As aresult, smokers who live in Wyoming start pu

fomenos

Answer:

a. People respond to incentives.

Explanation:

Assuming the state of Wyoming passes a law that increases the tax on cigarettes thereby causing smokers who live in Wyoming to start purchasing their cigarettes in surrounding states.

Consequently, an increase in the tax on cigarettes altered the behavior of the smokers in Wyoming, it made them to purchase from neighboring states.

This illustrates or reflect the fact that people respond to incentives.

6 0

3 years ago

You are the Accounting Director for SpaceX based in New York. Your department is implementing new accounting software (called Fi

soldier1979 [14.2K]

Answer:

The change will impact all 300 locations. The letter should be written to entire staff of the SpaceX.

Explanation:

To: All Staff SpaceX Team

Subject: Change over details (First Launch)

As you all are already aware about the implementation of new software named First Launch . The software installation run will start from March 1, 2021 at 9:00 a.m. Every accountant receiving the new product will require to install the software within 48 hours. Failure to do will result in expiry of the password which will require resending the software. After installation all accountants must restart the computer.

This change will affect all 300 locations across the United States. The changeover will result in improved efficiency, increase in security and there will be more transparency.

If there is any concern or query regarding this change feel free to write the team implementing the change.

Regards,

Director Accounts.

8 0

2 years ago

Atlantic Fisheries has an EBIT of $3,280, depreciation of $1,850, cost of goods sold of $6,920, dividends paid of $750, interest

WARRIOR [948]

Answer: $2420

Explanation:

The following can be deduced from the question:

EBIT = $3,280

Depreciation = $1,850

Cost of goods sold = $6,920

Dividends = $750

Interest expense = $860,

Taxable Income will be calculated as:

= EBIT - Interest Expense

= $3280 - $860

= $ 2420

6 0

3 years ago

Ian has five years of managerial experience with a shopping center. However, he quit his job to attend to his ailing mother. He

vovikov84 [41]

Ian is a uniquely good position here: the truth happens to be one of the best explanations he could possibly give. The fact that he quit his job to look after his sick mother, assuming that his former employer has positive things to say about him, is a solid reflection of his character and a sign that he was out of the job market not due to a lack of options, but a need to take care of a sick family member.
Ian should tell the truth, and explain the decision thoroughly to demonstrate the kind of person he is to the prospective employer, and what his priorities are.

3 0

3 years ago