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Andrew [12]
4 years ago
15

Laura is a single taxpayer living in New Jersey with adjusted gross income for the 2019 tax year of $35,550. Laura's employer wi

thheld $3,410 in state income tax from her salary. In April of 2019, she pays $550 in additional state taxes for her prior year's tax return. The real estate taxes on her home are $1,800 for 2019, and her personal property taxes, based on the value of the property, amount to $400. Also, she paid $80 for state gasoline taxes for the year.
Prepare the taxes section to report Laura's 2018 deduction for taxes assuming she chooses to deduct state and local income taxes.

Business
1 answer:
Montano1993 [528]4 years ago
4 0

Answer:

All the figures are provided in the table in picture attached. Taxpayers are allowed itemized deduction for local, state and other foreign tax paid during the year.

Explanation:

See the attached picture for detailed explanation.

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Answer:

See the whole business. Business planning done right connects the dots in your business so you get a better picture of the whole

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Explanation:

6 0
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How can you know if it's a good time to start your business?
Sonbull [250]

Answer:

The  good time to start your business is when When the economy is strong

<u>Explanation:</u>

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6 0
3 years ago
Denver Company, a calendar year corporation, had the following actual income before income tax expense and estimated effective a
lara [203]

Answer:

Denver Company

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Tax Expense = $140,000 x 24%

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Explanation:

a) Data:

Quarter    income before tax        estimated tax rate

first                 $100k                          30%

second           $140k                          24%

b) Denver's quarter second income tax expense is the product of the pretax income for the second quarter and the estimated income tax rate for the quarter.  The resulting calculation shows the estimated income tax expense that has to be settled by Denver.  If it is not settled in the quarter second period, it has to be carried forward to the next quarter as a liability under the heading, Income Tax Payable.

7 0
3 years ago
Curzon International is a hospitality chain that has a wide range of hotels and motels. The company provides luxurious and outst
Mariana [72]

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In the given case, the hotel chain has the sole purpose of providing best services to its customers. They are not ready to forego their dedication towards service even if it results in loss of their market share.

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