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Leona [35]
3 years ago
13

One reason Congress expanded the exclusion of gain on the sale of a principal residence and eliminated the deferral provision wa

s to eliminate the need for many taxpayers to keep records of capital improvements that increase the basis of their residence. Why might taxpayers still need to maintain such records to substantiate the ad-justed basis of their principal residence?
Business
1 answer:
posledela3 years ago
8 0

Answer:

The answer is:

If the gain resulting from selling their principal residence exceeds $500,000 for a married couple or $250,000 for a single filer.

The taxpayer doesn't qualify for the capital gains exclusion (e.g. maybe sold another property during the last year)

The taxpayer uses his principal residence for rental or commercial uses and depreciation may be allowed.

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Labor economists have recently begun focusing on a new area referred to as personnel economics. Describe what personnel economic
Tems11 [23]

Answer:

The correct answer is letter "A": the effects of labor unions on wages.

Explanation:

Personnel economics is applying economic and mathematical approaches and econometric and statistical strategies to traditional human resource management issues. Personnel economics deals with employees' employment, compensations, training, and management.

8 0
3 years ago
Raw materials inventory was $27,000 at the beginning of the year and $25,000 at the end of the year. During the year, $100,000 i
tatuchka [14]

Answer:

c. $74,000

Explanation:

Raw Material Ending Inventory = Raw Material Beginning Inventory + Purchases - Cost of material for the year

Raw Material Ending Inventory = Raw Material Beginning Inventory + (Total Purchases- Indirect material purchased) - Cost of material for the year

$25,000 = $27,000 + ( $100,000 - $28,000 ) - Cost of material for the year

$25,000 = $27,000 + 72,000 - Cost of material for the year

$25,000 = $99,000 - Cost of material for the year

Cost of material for the year = $99,000 - $25,000

Cost of material for the year = $74,000

4 0
3 years ago
Disposable income is the money paid to creditors after paying necessities <br> a. True <br> b. False
Gekata [30.6K]
Disposable income is the remaining amount after the deduction of taxes and social security charges etc... you can then spend this money however you want. So the answer is A.
Hope this helps. 
7 0
4 years ago
Anne Lockwood, manager of Oaks Mall Jewelry, wants to sell on credit, giving customers 3 months to pay. However, Anne will have
Alja [10]

Answer:

15.18%

Explanation:

Calculation for the nominal annual rate

First step is to find EFF% using this formula

EFF%=[1+(Nominal rate percentage/Numbers of months in a year )]^Numbers of months in a year

Let plug in the formula

EFF%=[1+(15%/12)^12

EFF%=(1+0.0125)^12

EFF%=(1.0125)^12

EFF%=1.1608×100%

EFF%=116.08%

Second step is to find Rnom compounding quarterly of 116.08% using this formula

Rnom compounding quarterly = (1+(R/4)^4

Let plug in the formula

Rnom compounding quarterly= (116.08%)^(1/4) Rnom compounding quarterly= 1+ R/4

Hence,

Rnom compounding quarterly = 15.18%

Therefore Anne Lockwood should quote her customers with Rnom compounding quarterly of 15.18%

6 0
3 years ago
When a partnership is terminated, the assets are turned into cash, and obligations are paid .dissolution. termination. realizati
insens350 [35]
The correct option is NONE OF THE ABOVE.
When a partnership is terminated, the assets are are turned into cash and obligations are paid, the partnership is said to be WIND UP.
A partnership refers to a business relationship that involves two or more persons. A partnership dissolution is said to occur when one of the partners leaves the business. A partnership is said to be terminated when it stop operations. Partnership winding up involves the sales of the assets of the business, the payment of their business debts from the proceeds and the sharing of the remaining proceeds.
6 0
4 years ago
Read 2 more answers
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