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RoseWind [281]
3 years ago
12

Sam has taxable income of $350,000 dollars. Sam's nephew Adam has taxable income of $3,500. What federal income tax rate applies

to the first taxable dollar of Sam's taxable income and what tax rate applies to the first taxable dollar of Adam's taxable income?a. 0% and 0%.b. 0% and 10%.c. 10% and 10%.d. 10% and 39.6%.
Business
1 answer:
scoundrel [369]3 years ago
4 0

Answer:

c. 10% and 10%

Explanation:

The income tax rate are progressive, this means the rates applies for the amount above the top of the previous bracket

Sam will be taxes with a higher rate in the subsequent dollars and end up with the 39.6% tax for their last part of income

But, as state beore the tax is progressive not all gains are taxes wit hthe same tax-rate

Also is important to notice this makes both making equal contribution when they are equal (below a certain threshold) and then, being treated unequally when their income are different

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Exercise 5-17 (Algorithmic) (LO. 4, 8) Rover Corporation would like to transfer excess cash to its sole shareholder, Aleshia, wh
CaHeK987 [17]

Answer:

The correct answer that a dividend is a better choice is . a. Regarding taxes, which would benefit Aleshia the most? The $114,000 dividend because after taxes she would have $ from the dividend and $ 86,640 from the bonus.

Explanation:

A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits. When a corporation earns a profit or surplus, the corporation is able to re-invest the profit in the business and pay a proportion of the profit as a dividend to shareholders.

A tax (from the Latin taxo) is a compulsory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law.

5 0
3 years ago
In Jackson Jones Company, land decreased $270,000 because of a cash sale for $270,000, the equipment account increased $90,000 a
marin [14]

Answer:

The answer is D. $180,000

Explanation:

Investing activities is about spending on long term asset or long term investments.

Under investing activities in cash flow, what constitutes inflow is the sales of these long term assets like plant and machinery and what constitutes outflow is the purchase of these assets.

In this question, the inflow is the sale of equipment which us $270,000 and outflow is the purchase of equipment for $90,000.

So net cash flow from investing activities is:

$270,000 - $90,000

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5 0
3 years ago
Examples of the bs of our society?
Luba_88 [7]
You don’t ask to be born but are expected to do everything asked of you
6 0
3 years ago
Albert is the manager of a large retail store, with the authority to hire employees. The store does not have a specialized human
anastassius [24]

Answer: An availability bias

Explanation: An availability bias is simply defined as the tendency for people to base their judgments on information that is easier to recall than on those that require extensive use of memory. It is also given as an unrecognized tendency of decision-makers to give preference to recent information, vivid images that evoke emotions, and specific acts and behaviors that they personally observed. Albert by asking questions that come to his mind easily as a result of inadequate preparation which leads to his hiring poor quality employees indicates an availability bias.

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3 years ago
In which situation would an employer be required to pay overtime?
madreJ [45]

Situations in which an employer would be required to pay overtime are:

A salaried employee works on a Saturday

A salaried employee works on a federal holiday

Explanation:

Overtime payments are required b the law to pay to a firm when they make their employees work over the permissible limit of work or hat is allowed int he job contract as the work limit for the company.

The concept is introduced for salaried workers as the work for a salary for the month and not on the hourly basis.

They are to be paid whenever they are made to work over whatever is in their contract which includes Saturday for most workers who do not have an off then and also on federal holidays invariably.

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