1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ruslelena [56]
3 years ago
9

Scott owns a welding business in alabama. every year, when he meets with his accountant to file his tax returns, he claims that

he should be able to show a loss on his tax returns. his accountant always shows a profit on his tax returns. fully explain what scott's claim is based on.
Business
2 answers:
kykrilka [37]3 years ago
8 0
For a loss to be shown on his tax return, the total expenses (prices of goods, supplies, transportation and so on) must be larger than the sale or revenue. 
Since he's always showing profit, this means that his revenue his more.

Scott may be including some illegitimate factors (factors that are not usually included in the calculation) in his calculations. These factors may lead to hypothetical loss for him.
Mice21 [21]3 years ago
7 0

For a misfortune to be appeared on his government form, the all out costs must be bigger than the deal or income. Since he's continually indicating benefit, this implies his income his more. Scott might incorporate some ill-conceived factors in his estimations. These components may prompt theoretical misfortune for him.  

Further Explanation:  

Example 1:  

Expecting that the bookkeeper is right all things considered, Scott is ascertaining his misfortune on costs or different elements that that would not be real conclusions or costs. A typical Example is vehicle mileage the citizen wishes to guarantee as business mileage yet by principle would be viewed as driving mileage.  

Example 2:  

Another Example would be things that Scott may wish to cost completely in this assessment year however by guideline they should be devalued. Scott could need to take a business utilization of his home yet have a misconception of what the standards are. There are many such regular issues when doing a business return and the customer does not comprehend the expense rules.

Subject: business

Level: college

Keywords: Example 1, Example 2.  

Learn more about evolution on:

brainly.com/question/8599868

brainly.com/question/9627273

You might be interested in
When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying
Umnica [9.8K]

When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying, the company was modifying the distribution.

Heinz has launched a color ketchup product for toddlers called EZ Squirt. The product was available in compressible containers and was eventually discontinued by him in 2006.

After six years of creatively decorating food, the novelty wore off and a young fan of the whimsical Heinz grew tired of tattooing hot dogs with his tribal tattoos. The company has discontinued the EZ Squirt color due to declining sales.

Squeeze Bottles became so popular that Heinz eventually stopped making glass bottles, until 2011 when he released a limited edition bottle with his original label.

Learn more about distribution here: brainly.com/question/12892403

#SPJ4

6 0
9 months ago
Which is the most liquid form of money?
dalvyx [7]
The answer is A - I just took the test!
8 0
2 years ago
Read 2 more answers
Advice entrepreneurs on the advantages of a public company​
Ad libitum [116K]

Explanation:

<h2>Advantages</h2><h2>Ability to raise funds by selling stock. ... </h2><h2>Availability of financial information. ... </h2><h2>Increased government and regulatory scrutiny. ... </h2><h2>Strict adherence to global accounting standards. ... </h2><h2>Due diligence. ... </h2><h2>Prospectus. ... </h2><h2>SEC approval.</h2>
5 0
2 years ago
Read 2 more answers
Digital Solutions Inc. uses flexible budgets that are based on the following data:
jeyben [28]

Answer:

Digital Solutions Inc.

Selling and Administrative Expenses Budget for October:

Sales volumes                   $500,000    $750,000     $1,000,000

Selling expenses:

Sales commissions 6%         $30,000       $45,000         $60,000

Advertising expense 14%       70,000        105,000          140,000

Customer support expenses:

Fixed                                        18,000          18,000             18,000

Variable 32% of sales          160,000       240,000          320,000

Total selling expenses      $278,000    $408,000        $538,000  

Administrative expenses:

Miscellaneous administrative expense:

Fixed                                         8,500           8,500              8,500

Variable 5% of sales             25,000         37,500            50,000

Office salaries expense       54,000         54,000            54,000

Research and

 development expense      75,000          75,000            75,000

Total administrative exp. $162,500      $175,000        $187,500

Total                                $440,500      $583,000       $725,500

Explanation:

a) Data and Calculations:

Sales commissions 6% of sales

Advertising expense 14% of sales

Miscellaneous administrative expense $8,500 per month plus 5% of sales

Office salaries expense $54,000 per month

Customer support expenses $18,000 per month plus 32% of sales

Research and development expense $75,000 per month

Sales volumes of $500,000, $750,000, and $1,000,000

Sales volumes                   $500,000    $750,000     $1,000,000

Selling and administrative expenses:

Sales commissions 6%       $30,000       $45,000         $60,000

Advertising expense 14%     70,000        105,000          140,000

Miscellaneous administrative expense:

Fixed                                       8,500           8,500              8,500

Variable 5% of sales           25,000         37,500            50,000

Office salaries expense     54,000         54,000            54,000

Customer support expenses:

Fixed                                    18,000          18,000             18,000

Variable 32% of sales      160,000       240,000          320,000

Research and

 development expense   75,000          75,000            75,000

Total                             $440,500      $583,000       $725,500

3 0
3 years ago
Owners of the restaurant in A. anticipate that in one year their demand will double as long as they can provide good service to
Bumek [7]

Answer:

The service capacity will be multiplied by two to escape critical zone

Explanation:

If they anticipate that the demand for their products will double , and we want to know how much we are going to increase the service capacity in order to stay out of critical zone.

Critical zone is the zone where there is no enough service to render to demand.

So to get the actual amount..we multiply the already Service , let's assume it's x, by the number of times the demand of product will increase.

In this case , it's increasing by two.

The service will be multiplied by two to escape critical zone

5 0
2 years ago
Other questions:
  • After 8 years of working for a company that installed underground sprinkling systems for golf courses, Trevor was ready to ventu
    9·1 answer
  • Favorite Memories is a small company that specializes in serving women over the age of 50 who are special occasion gift shoppers
    8·1 answer
  • You have been offered a job with an unusual bonus structure. as long as you stay with the firm
    15·1 answer
  • Two currently owned machines are being considered for the production of a part. The capital investment associated with the machi
    13·1 answer
  • Christoph Hoffeman of Kapinsky Capital believes the Swiss franc will appreciate versus the U.S. dollar in the coming​ 3-month pe
    5·1 answer
  • 2. Which currency is not in the top 5 of the world?
    11·1 answer
  • Vega corporation expects to pay a 4​% bonus on net income after deducting the bonus. assume the corporation reports net income o
    9·1 answer
  • The Production Department of Hruska Corporation has submitted the following forecast of units to be produced by quarter for the
    13·1 answer
  • Bob Jensen Inc. purchased a $650,000 machine to manufacture specialty taps for electrical equipment. Jensen expects to sell all
    15·1 answer
  • The Quaint Quilt produces and sells handmade quilts. Variable manufacturing costs total $140 per quilt. Fixed manufacturing over
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!