Answer:
Assuming Simon’s AGI is $40,000.
Gambling losses are only deductible to the extent of gambling winnings. Thus,Simon cannot deduct any of the $4,300 gambling losses. The $3,160 transportation expenses are also nondeductible as they are deemed to be personal expenses. The $2,650 broker management fees are deductible as investment fees (miscellaneous itemized deductions subject to the 2% AGI floor), and the $1,030 tax return fees are also deductible as miscellaneous itemized deductions subject to the 2% AGI floor.
Thus, $2,650 + $1,030 – (2% x $40,000 AGI) = $2,880 deduction
$13,422.62 will be in the account in 15 years by compounding continuously.
<h3>Compound interest rate</h3>
Formula: FV =PV * e^(i*t),
where FV =Future value,
PV=Present Value,
e =Euler’s number,
i =nominal rate per year,
t =Number of years.
Answer:
$13,422.62
that is why
FV =PV * e^(i*t),
A=?
P=$8,000
r=0.0435
t=15 years
A=8,000e0.0345*15
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<h2>A business action that has been widely adopted within an industry or occupation is known as
Standard Business practice</h2>
Explanation:
Standard business practice tells you how to operate and manage your business.
The operation includes:
Goals, objectives: Mentioning about the goal and objective of the organization and creating process to achieve those.
Sales: Sales are the most important aspect which brings revenue to any kind of industry starting from education industry to MNC industry. Sales can bring business and one of the crucial department for success of the organization.
Back office work: Which needs to work at the background to monitor, to track, develop the operations or process
