Answer: False
The ICS which stands for Incident Command System is the standard procedure to be applied to all types of incidents. These incidents range from small emergencies up to the large and complicated situations or events. Some of the incidents that ICS can tackle are medical emergencies, both natural and unnatural disasters, terrorist attacks, chemical spills, traffic incidents, and so on.
Answer: c. Sydney can diversify 50% of her WillCo stock.
Explanation:
Employee stock ownership plan (ESOP) is simply referred to as an employee benefit where the employees of a particular company are given ownership interest as long as some certain criteria are met.
Once the workers become qualified participants, they can diversify certain percentage of their stocks. From the 1st-5th year, a qualified participant is allowed to diversify about 25% of his or her stock account and about 50% in the 6th year.
Based on the explanation, since Sydney has worked for WillCo for the last 20 years, Sydney can diversify 50% of her WillCo stock.
Answer:
Qualified business income deduction= $20,000
Explanation:
Section 199A of the Internal Revenue Code gives numerous citizens a conclusion to qualified business salary from a certified exchange or business worked straightforwardly or through a go through substance. People, trusts and bequests with qualified business salary, qualified REIT profits or qualified PTP pay may meet all requirements for the finding. QBI is the net measure of qualified things of salary, addition, derivation and shortfall from any certified exchange or business. The reasoning will be % of QBI.
Tammy shall get deduction of 20% of $ 100,000 = $ 20,000
Answer:
a. $293,000
b. $203,000
Explanation:
a. What is Robert's qualified business income?
Robert's qualified business income is the net income minus Robert's salary. Since the salary of $87,900 has already been deducted, $293,000 is Robert's qualified business income.
b. What is Robert's qualified business income if you determined that reasonable compensation for someone with Robert's experience and responsibilities is $177,900?
Extra deductible salary = $177,900 - $87,900 = $90,000
New Robert's qualified business income = $293,000 - $90,000 = $203,000
If Evelyn Chang is self-employed and that she was able to do
various types of accounting in different organizations and she is a certified
accountant, she is probably or considered to be a certified public accountant
in which this type of accountant may be able to do various types of services in
accounting and can be done in different organizations in which Evelyn Chang is
capable of doing.
