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
The catapult systems repair crew on an aircraft carrier is responsible for repairing the system that launches the aircraft from
Dima020 [189]

Answer: Organic Structure

Explanation: Organic Structure may be explained as a type of organizational structure which often promotes creativity, being proactive and flexible decision making due to the unstable and dynamic nature of the work environment and problem the organization has to solve. In the scenario above, due to the risky nature of the task at hand, catapult repair crews do not posses the luxury of time to follow rigid orders, rules or follow a centralized model of problem solving. Therefore, a decentralized model is often adopted in other to afford the repair crew to use their tactical nous, experience and creative ability to approach, tackle and provide quick and quality solutions to lingering problems.

7 0
4 years ago
The establishment of lobster fishing season in the state of Florida is an example of:
SashulF [63]

Answer:

Government intervention in the economy.

Explanation:

The government in some cases take actions that affect the economy to have an impact and address inefficiencies. In this case, the intervention takes the form of a regulation that establishes a lobster fishing season in the state of Florida. Because of that, the answer is that this is an example of government intervention in the economy.

5 0
3 years ago
A loan officer states, "Thousands of dollars can be saved by switching to a 15-year mortgage from a 30-year mortgage." Calculate
Lynna [10]

Answer:

$113,465

Explanation:

Calculation to determine difference in total dollars that will be paid to the lender under each loan

First step is to Calculate the difference in payments on a 30-year mortgage at an interest rate of .75% a month

$100,000 = PMT([1 / (0.0075)] − 1 / {(0.0075)[(1.0075)]^30 × 12})

PMT = $804.62

Second step is to Calculate the difference in payments on a 15-year mortgage at an interest rate of .7% a month

$100,000 = PMT([1 / (0.007)] − 1 / {(0.007 )[ 1.007)]^15 × 12})

PMT = $ 978.87

Now let determine the Total difference

Total difference = ($804.62 × 12 × 30) − ($978.87 × 12 × 15)

Total difference= $113,465

Therefore difference in total dollars that will be paid to the lender under each loan is $113,465

6 0
3 years ago
The combination of the degree of complexity and the degree of change existing in an organization's external environment is/are c
Marat540 [252]

Answer:

D. environmental uncertainty.

Explanation:

This could be explained to be a condition or situation when an organisation in form of a firm is said to have little or no information about its external environment and in this condition, making it unpredictable; especially when not expected. In other words, the term environmental uncertainty can be easily explained to be unpredicted, unexpected uncertainties that are said to happen in an external environment.

Global warming can be capitalized to be one of the physical and major environmental uncertainties that occurs in such a place.

8 0
3 years ago
True/ false you cannot eliminate all risk but you can reduce and manage it .
Ganezh [65]
True. If you are a responsible co- worker you can watch out for others.
hope this helps you.=)
4 0
4 years ago
Read 2 more answers
Other questions:
  • Primara corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours
    10·1 answer
  • The graphical representation that summarizes the steps a consumer takes in making the decision to buy your product and become a
    12·1 answer
  • An individual's definition of self changes with age because
    12·2 answers
  • Operating budgets are a.a forecast of operating expenses and related revenues. b.a forecast of units of production. c.concerned
    9·1 answer
  • Consider a game in which three players must decide how much to contribute to fund a holiday party. Each player i ∈ {1, 2, 3} sel
    5·1 answer
  • Mới ra trường nên làm công ty nhỏ của người quen lương 8 triệu, hay công ty lớn lương 7 triệu
    7·1 answer
  • Ramone's Drones Inc. makes local deliveries using small drones. Ramone is looking to hire an additional pilot to help with incre
    5·1 answer
  • Question 1: Special order Sales volume in units 120 Revenue $8,400 Variable costs $2,400 Contribution margin $6,000 Fixed costs
    8·1 answer
  • You are hired as a consultant for Skater Boys Incorporated, a firm with over five years
    15·1 answer
  • explain sustainable income. what relationship does this concept have to the treatment of discontinued operations on the income s
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!