Answer:
The maximum business interest deduction that George will be eligible to claim this year is $522,000
Explanation:
For computing the maximum business interest deduction, first, we have to compute the adjusted taxable income. So, the computation of adjusted taxable income is shown below:
= Allocable taxable income + business interest + depreciation amount
= $1,250,000 + $240,000 + $250,000
= $1,740,000
Now the business interest deduction is 30% of adjusted taxable income
So, the maximum business interest deduction would be
= Adjusted taxable income × deduction rate
= $1,740,000 × 30%
= $522,000
A lease is renting something, and a loan is lend money from the saving bank.
Answer:
Option A
Explanation:
In simple words, Maurice is confused that if he should work with animals or not. Working voluntary in an animal shelter would give him a first hand experience and will definitely clarify his doubts to a very good extent.
The ice cream parlor option do not provide him with any exposure. And researching is baseless s he is not sure if he even wants to work with animals. Last question is also incorrect as the case did not given any fact about his Monterey ambitions.
Answer:
The maximum price is $1.6
Explanation:
Giving the following information:
Down Hill’s annual costs related to the production of 100,000 wheels are as follows: Direct Materials $30,000 Direct Labor $50,000 Variable Overhead $20,000 Fixed Overhead $70,000 An outside supplier has offered to sell Down Hill similar wheels for $1.25 per wheel. If the wheels are purchased from the outside supplier, $15,000 of annual fixed overhead could be avoided and the new facilities now being used could be rented to another company for $45,000 per year.
Make in house:
Variable costs= 100,000
Avoidable overhead= 15,000
Rent lost= 45,000
Total= 160,000
Unitary cost= 160,000/100,000= $1.6
The maximum price is $1.6