A taxpayer paying his 10-year-old daughter $50,000 a year for consulting likely violates the constructive receipt doctrine.
This is further explained below.
<h3>What is
constructive receipt doctrine.?</h3>
Generally, When a money taxpayer receives gross income for federal income tax purposes, the theory of constructive receipt is applied to make this determination.
If a taxpayer has complete discretion over deciding when certain types of income will or should be paid, that person is liable for tax in the current year.
In conclusion, If a taxpayer gives his daughter, who is only ten years old, fifty thousand dollars a year for consulting work, the taxpayer has most certainly violated the constructive receipt law.
Read more about the constructive receipt doctrine.
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Answer:
<em>1) Monthly payments:</em>
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<em>2) Balance in ten years:</em>
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Explanation:
<u><em></em></u>
<u><em>1. What are the monthly payments?</em></u>
The formula to compute the monthly payment of a loan is:
Where:
- Payment is the monthly payment
- r is the monthly interes rate: 8% / 12 = 0.08/12
- n is the number of months: 12 × 30 = 360
- Loan = $190,000
Substitute and compute:
<u><em>2. What would the loan balance be in ten years?</em></u>
<u><em></em></u>
There is a formula to calculate the balance in any number of years:
![Balance=Loan(1+r)^n-Payment\times \bigg[\dfrac{(1+r)^n-1}{r}\bigg]](https://tex.z-dn.net/?f=Balance%3DLoan%281%2Br%29%5En-Payment%5Ctimes%20%5Cbigg%5B%5Cdfrac%7B%281%2Br%29%5En-1%7D%7Br%7D%5Cbigg%5D)
Substitute with n = 10 × 12 and compute:
![Balance=\$190,000(1+(0.08/12))^{(10\times 12)}-\$1,394.15\times \bigg[\dfrac{(1+(0.08/12))^{(10\times 12)}-1}{(0.08/12)}\bigg]](https://tex.z-dn.net/?f=Balance%3D%5C%24190%2C000%281%2B%280.08%2F12%29%29%5E%7B%2810%5Ctimes%2012%29%7D-%5C%241%2C394.15%5Ctimes%20%5Cbigg%5B%5Cdfrac%7B%281%2B%280.08%2F12%29%29%5E%7B%2810%5Ctimes%2012%29%7D-1%7D%7B%280.08%2F12%29%7D%5Cbigg%5D)
Answer:
$4
Explanation:
Perfectly competitive firms are characterised by:
1) Free entry and exit of buyers and sellers.
2) Large number of buyers and sellers.
3) Existence of identical product.
4) Informations are readily available to the customers.
Marginal revenue(MR) refers to a change in revenue as a result of an additional change in output.
At 100 units output, MR=$400
At 101 units output, MR=$404
Change in MR=$404-$400
=$4
Change in output=101 units-100units
=1 unit
Marginal revenue(MR)= change in revenue/Change in output
Marginal revenue (MR)=$4/1 Unit
MR= $4
Answer:
The future economic concerns of other countries will differ from those of the United States, mainly according to the degree of economic development of each nation. Thus, for example, countries like Germany or Canada, which have an economic development similar to that of the United States, will have economic and socioeconomic concerns quite similar to the United States (rational use of natural resources, redistribution of income, efficient allocation of public resources, etc.).
On the other hand, less developed nations such as those of Africa, Haiti or Cuba, for example, will have different concerns, such as guaranteeing access to water, food and sanitation for all their inhabitants, or generating foreign investments that provide jobs for their residents.
