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Helga [31]
3 years ago
15

Mike and Jane Lewis, a married couple filing a joint return, paid funeral expenses of $10,000 for their dependent child in the c

urrent year. Select the appropriate tax treatment of the funeral expenses.
Business
1 answer:
ser-zykov [4K]3 years ago
4 0

Answer:

Funeral expenses are not tax deductible for any type of individual.

According to IRS, funeral and burial expenses can be deducted only if they are paid by the dead person's estate. In other words, no living person can deduct funeral expenses. Only in case you die, the executor of your estate can deduct funeral expenses form your estate taxes.

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Anastasy [175]

Answer:

Safety signs and symbols are important safety communicating tools, they help to indicate various hazards that present in plant site or workplace. At the same time, they warn workers to always keep watching out for those hazards by giving required information and safety instructions.

Explanation:

hope this helps you

7 0
3 years ago
A corporation is:_________
NemiM [27]

Answer: A business legally separate from its owners.

Explanation:

A corporation is an organization which is seen legally as being separate from the owner(s). Legally, a corporation is seen as being on its own and therefore can: obtain loans, be Sue, pay taxes etc.

6 0
3 years ago
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Investor Palmer has a diversified portfolio consisting of equity and debt valued at $365,000 at the start of the year. During th
garri49 [273]

Answer:

The return after taxes is 7.9%

Explanation:

At the start of the year the portfolio is valued at $365,000.

At the end, his portfolio has returns by dividends ($3,579), interests ($2,783) and portolio's valuation (389,648-365,000=$24,648).

The tax is applied to the dividends and interests, as:

Tax = 0.35 * (3579+2783) = 0.35*6362 = $2,226.70

We can then calculate the investor's return as

R = profit after taxes / initial portfolio valuation

R = ((3579 + 2783 - 2226.70)+24648)/365000

R= 28,783.30 / 365,000 = 0.079 = 7.9%

5 0
3 years ago
Unlike​ wholesalers, _______ do not own the goods that they distribute to​ customers; rather, they serve as independent sales re
fomenos
Agents of a business
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Question 2 of 10
11111nata11111 [884]

Answer:c

Explanation:

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