I think the answer is E. both supply and demand would increase.
I think this because the decrease in making would lower the price of the golf clubs. Therefore making people more likely to buy (demand increasing). The supply would also increase also because with a higher demand, the people buying the golf clubs would cause their supply of golf clubs to increase.
Answer:
Assuming Simon’s AGI is $40,000.
Gambling losses are only deductible to the extent of gambling winnings. Thus,Simon cannot deduct any of the $4,300 gambling losses. The $3,160 transportation expenses are also nondeductible as they are deemed to be personal expenses. The $2,650 broker management fees are deductible as investment fees (miscellaneous itemized deductions subject to the 2% AGI floor), and the $1,030 tax return fees are also deductible as miscellaneous itemized deductions subject to the 2% AGI floor.
Thus, $2,650 + $1,030 – (2% x $40,000 AGI) = $2,880 deduction
Answer:
The correct option is D
Explanation:
A key characteristic of pandemic influenzas is that they have the ability to mutate rapidly. When the immunity of human increases the pandemic virus changes.
Shaquille bought new cars for five of his friends. Every car cost $70,000. $280,000 is the sum of Shaquille's taxable gifts.
<h3>What gifts are not chargeable to tax?</h3>
It can contain Cash, movable property, immovable property, jewelry, etc. If such offerings are received from a close relative, it is not taxable. If obtained from others, the value is equal to less than Rs. 50,000 no tax is levied on the recipient.
5 × ($70,000 - $14,000) = $280,000
If you give any one individual gifts valued at more than $10,000 in a year, it is required to report the total grant to the Internal Revenue Service.
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