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3 years ago

Taxpayers over 65 can only deduct expenses that are greater than 7.5% of adjusted gross income for

1 answer:

7 0

The answer to this is MEDICAL and DENTAL EXPENSES. This is already a fixed law in terms of expenses deduction which would be based on the adjusted gross income. For individuals below 65 years old, they only have 10%. 65 years old is the temporary threshold and this is an exemption making it 7.5% of their AGI or the adjusted gross income.

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The following data pertains to activity and maintenance costs for two recent years: Year 2 Year 1Activity Levels in units 12,000

iragen [17]

Answer:

Total cost= 0.75x + 6,000

Explanation:

Giving the following information:

Year 2:

Units= 12,000

Cost= $15,000

Year 1:

Units= 8,000

Cost= $12,000

To determine the cost formula, first, we need to calculate the unitary variable cost and fixed cost.

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (15,000 - 12,000) / (12,000 - 8,000)= $0.75 per unit

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 15,000 - (0.75*12,000)= $6,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 12,000 - (0.75*8,000)= $6,000

Now, the cost formula is:

Total cost= unitary variable cost + fixed cost

Total cost= 0.75x + 6,000

7 0

3 years ago

Creating value within business units can happen when a firm tries to find and acquire either poorly performing firms with unreal

Strike441 [17]

Answer:

Parenting.

Explanation:

The complexity of transitional business conditions creates a necessity for creating value through aggregation of various businesses in complex corporate enterprise, which provides it the character of a multi-business firm. Businesses may be defined as being regardless of the enterprise chooses to work as organizationally separate profit-responsible units. this can be primary done to create a fit between ways the business creation is been done.

6 0

2 years ago

Increasing product supply leads to an outward shift the supply curve. TRUE OR FALSE?

harina [27]

Answer:

true

Explanation:

5 0

3 years ago

Vijay Company reports the following information regarding its production costs. Direct materials $9.60 per unit Direct labor $19

solong [7]

Answer:

Unitary cost= $46.4 per unit

Explanation:

Giving the following information:

Direct materials $9.60 per unit

Direct labor $19.60 per unit

Overhead costs for the year:

Variable overhead $9.60 per unit

Fixed overhead $121,600

Units produced 16,000 units

Under absorption costing, the fixed overhead is allocated to the cost of the product. Therefore, we need to calculate the unitary fixed overhead.

Unitary fixed overhead= 121,600/16,000= $7.6

Now, we can calculate the unitary cost of production:

Unitary cost= direct material + direct labor + total overhead

Unitary cost= 9.6 + 19.6 + 9.6 + 7.6= $46.4 per unit

6 0

3 years ago

Current projections indicate that by the year 2030, there will be ______ tax-paying workers for every retiree collecting Social

lakkis [162]

Current projections indicate that by the year 2030, there will be 2.0 tax-paying workers for every retiree collecting Social Security.

A tax is a mandatory fee or financial charge that a government imposes on a person or a business in order to raise money for public projects like building the greatest infrastructure and services. Different public expenditure programs are then funded with the funds that have been raised.
There are two main categories of taxes: direct taxes and indirect taxes. Both taxes are implemented in different ways. Some taxes, like the dreaded income tax and corporate tax, are paid directly by you, while others, like sales tax and service tax, are paid inadvertently.
The government uses taxes to fund a variety of welfare programs, including job initiatives.

Thus this is the answer.

To learn more about Tax, refer:brainly.com/question/25783927

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3 0

1 year ago