I believe the answer is C
Parker is a dog whisperer who has consulted with some of the most famous Hollywood stars and their canine friends. He issued an invoice on December 1st and received a check in the mail on December 30th. The following doctrines requires that he includes the income as taxable in the current year and not defer it to the following year
<u>b. The economic benefit doctrine</u>
Explanation:
- The Economic Benefit Doctrine requires that any benefit granted to an individual that has economic or financial value be included as compensation for income tax purposes in the year the benefit is granted.
- The money in the trust was for the sole benefit of the employee, and non-forfeitable.
- A tax doctrine that applies to cash basis taxpayers who receive compensation for services. It provides that a taxpayer is taxed when the taxpayer receives an "economic benefit" from an absolute right to receive property in the future.
- Economics is important for many areas of society. It can help improve living standards and make society a better place. Economics is like science in that it can be used to improve living standards and also to make things worse.
Answer:
He needs to deposit each year $747.38
Explanation:
Giving the following information:
To help you reach a $5,000 goal in five years from now, your father offers to give you $500 now. You plan to get a part-time job and make five additional deposits, one at the end of each year for 5 years. Your first deposit will be made at the end of the first year. The money is deposited in a bank that pays 7% interest.
First, we need to calculate the final value of the first $500 that the father gave him:
FV= PV*(1+i)^n
FV= 500*(1.07)^5=
FV= 701.28
Now, we have to calculate the annual deposit required:
Difference= 5,000 - 701.28= 4,298.72
We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (4,298.72*0.07)/[(1.07^5)-1]
A= $747.38
Answer:
d. His net pay will increase by $22.61.
Explanation:
The more "allowances" you claim on your W-4 the more you get in your take-home pay.
So he definitely will have an increase effect of $22.61 if Luis has a biweekly gross pay of $770 and increases the number of claims from 2 to 3 federal withholding allowances.
they are supposed to provide a gas card
