1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
My name is Ann [436]
3 years ago
9

Bob Brain files a single tax return and decides to itemize his deductions. Bob's income for the year consists of $75,000 of sala

ry, $3,000 long-term capital gain, and $1,500 interest income. Bob's expenses for the year consist of $800 in investment advice fees and $250 in tax return preparation fees. What is Bob's investment expense deduction?
Business
1 answer:
emmasim [6.3K]3 years ago
5 0

Answer:

Given:

Bob's income for the year:

Salary = $75,000

Long-term capital gain = $3,000

Interest income =  $1,500

Bob's expenses for the year:

Investment advice fees = $800

Tax return preparation fees = $250

This should be duly noted that there have been changes in the tax law, therefore several investment-related expenditure are not deductible.

General enumerated tax write-off included disbursal such as investment advice fees, IRA protective fees, and accounting costs essential to collect dutiable income. Tax year 2018 to 2025, the following deductions have been obviated.  

<u><em>Therefore  Bob's investment expense deduction will be $0.</em></u>

You might be interested in
Please label the following statements regarding child labor as true or false. International trade is a key cause of child labor.
Nataliya [291]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

4 0
3 years ago
The second stage of the consumer buying process is?
zubka84 [21]
Well i suppose the second stage involves the information search of the consumer buying process.<span />
3 0
3 years ago
Given Table 12-6 below, fill in the values for saving. Assume taxes = $800.
Tanya [424]

Answer:

Saving =  National Income - Consumption - Taxes

Explanation:

Savings are the part of income that is not spent or paid in taxes. So it can be calculated by subtraction consumption from the national income.

National Income (Y) = C+ T + S

Therefore,

S= Y - C - T

That is the part of income that is not spent or paid in taxes is called savings.

National Income   Consumption  Taxes    Savings

$11,400                        $7,500           $800    $3,100

$11,800                        $7,800           $800    $3,200

$12,200                       $8,100            $800    $3,300

$12,600                       $8,400           $800    $3,400

5 0
3 years ago
Which statement is true about a stock split? Multiple Choice Total shareholders' equity remains the same. Total shareholders' eq
Alex Ar [27]

Answer:

The correct option is total shareholders' equity remains the same

Explanation:

Stock split is about re-denomination of existing shares by splitting for example one share into two whereby the two new shares assume the value of one old share.

It is usually done to boost shares trading by making a share price affordable and within the reach of many potential investors.

All in all, the stockholders' equity remains the same since no cash consideration is paid for stock split

6 0
3 years ago
A new project would require an immediate increase in raw materials in the amount of $1,000. The firm expects that accounts payab
disa [49]

Answer:

b) +$200

Explanation:

Net Working Capital (NWC)  or simply Working capital is the calculation between an organisation's current assets including accounts receivable, inventory and cash and the organisation's current liabilities including payables and advances among others. It simply measures how liquid an organisation is enough to meet its current obligations (liabilities).

Calculate: The Net working Capital if the new project is accepted

=NWC= Current assets - current liabilities

Increase in raw materials is a current asset = $1000

Increase in accounts payable is a current liability= $800

Therefore NWC = $1,000 - $800

=$200

8 0
4 years ago
Other questions:
  • A hostile takeover is a situation in whicha.the management and board of directors of the targeted firm disapprove of the propose
    11·1 answer
  • Consider the following statements about goal congruence:
    8·1 answer
  • A 40-year-old man has consumed a breakfast consisting of cereal, milk, orange juice, and coffee. His blood sugar in 2 hours is l
    15·1 answer
  • Svetlana won $1,000,000 in a contest, to be paid in twenty $50,000 payments at yearly intervals, the first payment paid at the t
    5·1 answer
  • The following is a partial trial balance for the Green Star Corporation as of December 31, 2018: Account Title Debits Credits Sa
    11·1 answer
  • Suppose the market price is $5. The buyer who buys the first unit of output has a willingness-to-buy equal to $10; the buyer who
    12·1 answer
  • How do public goods limit a free market economy?
    10·1 answer
  • Paula, a single woman, transferred $2,000,000 to a GRAT naming her two sons as the remainder beneficiaries, while retaining an a
    15·1 answer
  • French and German farmers wanting to buy equipment from an American manufacturer based in the U.S. will be: A) Demanding dollars
    10·1 answer
  • If the money supply for an economy is $3 trillion and the velocity of money is 4.5, then gdp is: __________
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!