1) They are young and not so smart o( just a saying), 2) They think they will be rich forever and forever be on top of the world, 3) Ignorance or following the wrong financial advice, 4) Instead of them wisely taking care of their finances, they put it in other people's hands, who of course abuse it as well or take advantage. :)
The position that describes Karl Marx's view of religion and society is his power with the connection to religion. Karl Marx as one of the most influential people in the history for he implemented various revolutionary actions which were condemned and criticized.
Answer:
$607
Explanation:
Data provided in the question:
Date of closing of sales transaction = April 15
Expected tax for the year = $2,110
Number of days in an year = 365
Now,
Per day tax = [ Expected tax for the year ] ÷ [ 365 ]
= $2,110 ÷ 365
= $5.781 per day
Time period from January 1 to April 15 in days = 105 days
Therefore,
The seller's share of the tax bill
= Per day tax × Time period from January 1 to April 15 in days
= $5.781 × 105
= $606.98 ≈ $607
Answer:
a. $118,000
Explanation:
When preparing a cash flow statement, using indirect method we add decrease in current assets and we deduct increase in current assets.
Here it is provided that income reported = $110,000
Opening balance of accounts receivables = $40,000
Closing balance of accounts Receivables = $32,000
Change in Accounts receivables = Closing - Opening = $32,000 - $40,000 = - $8,000
Therefore there is decrease in accounts receivables which is a current asset.
Thus Cash Flow from operating activities
Net Income = $110,000
Add: Decrease in current assets = $8,000
Net cash flow from operating activity = $118,000
Correct option is
a. $118,000
Answer:
Qualified Business Income Deduction is $9,800
Tax liability = $4,564
Explanation:
Qualified business income is calculated by subtracting an individual's ordinary deduction from a qualified business or trade from the individual's ordinary income.
Net income = $61,000
Standard deduction = $12,000
Modified taxable income;
$61,000 - $12,000 = $49,000
QBI Deduction (Sec 199A) is the lesser of:
[0.2 × 49,000 < 0.2 × 61,000]
$9,800 < $12,200
Therefore Qualified Business Income Deduction is $9,800
Taxable income = $(49,000 - 9800) =$39,200
