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Serhud [2]
3 years ago
11

Martha, who is single, has a main home in Houston. In the current year, she rented it for 10 days, receiving $5,000 in rental in

come. Martha paid $20,000 in mortgage interest and $10,000 in real estate taxes on her home in the current year. What is the net effect of these items on her adjusted gross income g
Business
1 answer:
uranmaximum [27]3 years ago
6 0

Answer:

$5,000 increase

Explanation:

As Martha has the main home in Houston and in the current year she rented it for only 10 days, this means that house is rented for less than 14 days and will be still treated as her personal residence, therefore, no deduction will be available for Martha against her rental income. Martha's Adjusted gross income will be increased by an amount of $5,000.

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Sam, age 35, and kathy, age 33, are married and have a son, age 1. sam is employed as an accountant and earns $60,000 annually.
shusha [124]

Sam, age 35, and Kathy, age 33, are married and have a son, age; The Financial stands resolve will be

  • To the extent that Sam's wife qualifies for OASDI payments in the event of his death due to an automobile accident, she will receive them.
  • Kathy's vocal cord is a significant contributor to her income since she is a teacher, but she can only get disability benefits if she has been selected for them.
  • Kathy will be eligible for temporary disability benefits under the United States' social insurance program since she was injured on the job and has opted into the program.
  • Sam's benefits will be reduced by $1 for every $2 he earns over the $17040 level in 2018; however, he will not see a decrease in his benefits if his income is between $45,306 and the maximum allowable amount of $45,306.
  • Sam's desire for a greater salary is not a qualifying cause for unemployment insurance.

<h3>Who is a  financial planner?</h3>

Generally, a financial planner is simply defined as one form of a financial adviser, the financial planner, focuses on helping clients develop and implement strategies for achieving their long-term financial objectives.

In conclusion, Finance is managing substantial resources, as practiced by governments or major corporations.

Read more about finances

brainly.com/question/10024737

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6 0
1 year ago
Suppose that the total revenue received by a company selling basketballs is $600 when the price is set at $15 per basketball and
SVETLANKA909090 [29]
I think the answer is <span>unit-elastic over this price range.  This happens  when a company earns the same revenue even with some slight changes on the prices. It means that slight increase or even decrease in price does not affect the revenue of the company.</span>
6 0
2 years ago
Lloyd is a divorce attorney who practices law in Florida. He wants to join the American Divorce Lawyers Association (ADLA). The
Rasek [7]

Answer:

13 years

Explanation:

Note that, if we add the annual interest rate of 7.9% to $8000 [(0.079*8000)+8000] we get a total value of $8632. We perform random division of the 8632 with 11 12, 13 years we note that at 13 years the total annual payment is lowest.

Such that 8632/13 years= $664 lower than paying $750.

8 0
3 years ago
At its $60 selling price, Atlantic Company has sales of $15,000, variable manufacturing costs of $4,000, fixed manufacturing cos
mash [69]

Answer:

$36

Explanation:

The contribution margin per unit is calculated by subtracting the variable cost per unit from the selling price.

Selling price is $60

Contribution margin per unit?

The total sales in dollar value are $15,000, The sales in units equal to

=$15,000 /60

=250 units

Total variable costs will include variable manufacturing cost plus variable selling and administrative costs

=$4000 + $2000

=$6000

variable cost per unit will be the total variable cost divide by units produced

=$6000/250

=$24

Contribution margin per unit = $60- $24

=$36

6 0
3 years ago
People pay taxes for many reasons. Which of the following is NOT one of those reasons? A) civic duty B)moral reasons C)fear of I
Mice21 [21]
I feel the answer is B I really hoped this helped have an amazing day
6 0
2 years ago
Read 2 more answers
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