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SCORPION-xisa [38]
3 years ago
13

Jasmine started a new business in the current year. She incurred $18,000 of start-up costs. How much of the start-up costs can b

e immediately deducted (excluding amounts amortized over 180 months) for the year?
Business
1 answer:
liq [111]3 years ago
5 0

Answer:

$5,000

Explanation:

According to the Internal Revenue Service, the amount of deduction for startup costs would be limited to $5,000 if the startup costs are $50,000 or less

However, if the start-up costs were more than $50,000, the deduction would be decreased by the dollar amount.

Since in the given scenario, the $18,000 is the startup cost so she is eligible for the deduction of $5,000

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What is the maximum amount a 45-year-old taxpayer and 45-year-old spouse can put into a Traditional or Roth IRA for 2016 (assumi
tangare [24]

Answer:

$5,500 USD

Explanation:

Since traditional Roth IRA accounts cannot be owned jointly, then both individuals must have their own account. That being said they can still contribute to each other's Roth IRA accounts on behalf of their spouse. You can contribute a total of 100% of your earned income up to a limit of $5,500 USD. Pensions are not allowed as contributions. Individual's over the age of 50 have a limit of $6,500

6 0
3 years ago
The United States and many other countries often impose trade sanctions on other countries. These sanctions A. tend to decrease
Pavel [41]

Answer:

The correct answer is option D.

Explanation:

Sanctions can be defined as penalty levied on other countries or citizens of other countries. There are a number of trade sanctions such as

  1. Tariffs
  2. Quotas
  3. Non-tariff barriers
  4. Embargoes

These trade sanctions affect both the sanctioning country as well as the sanctioned country. The imposition of trade sanctions on a country affects exports of the country. As the producers are able to supply less, there will be a reduction in producer surplus.

The imports for the consumers in the sanctioning country will decline. There will be less choice for them. This will cause a reduction in consumer surplus.

6 0
3 years ago
All of the following are cash and cash equivalents, EXCEPT *
Veseljchak [2.6K]

Answer:

money maker placements

4 0
3 years ago
What activity is part of personal financial planning?
AfilCa [17]

A) Setting multiple budgets

3 0
3 years ago
Kleister Company issues bonds for $100 million and repays a long-term notes payable of $10 million. The company also sells its o
antoniya [11.8K]

Answer:

$97 million cash inflow from financing activities.

Explanation:

Given: Company issue bonds for $100 million

           Repay long term notes payable is $10 million.

           Company sell its own shares= $12 million

           Pay cash dividend= $5 million.

Now, lets calculate the cash inflow from financing activities (CFF)

∴ Formula; Cash inflow from financing activities= \textrm{cash inflow from issuing equity or debt -(cash paid as dividend +repurchase of debt and equity)}

Cash inflow are the item through which cash is flowing in the company.

∴ cash inflow= (\textrm{(cash inflow issuance of bonds and selling own shares)}

Cash inflow= (100+12)= \$ 112\ million

Cash inflow from financing activities= 112-(10+5)= 112-15

Cash inflow from financing activities is $97 million

6 0
3 years ago
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