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Katena32 [7]
3 years ago
7

Kim works for a clothing manufacturer as a dress designer. She travels to New York City to attend five days of fashion shows and

then spends three days sightseeing. Her expenses are as follows;Airfare $1,500Lodging (8 nights) $1,920Meals (8 days) $1,440Airport transportation $120Assume that lodging/meals are the same amount for the business and personal portion of the trip (e.g., $180 per day for meals).A) Presuming no reimbursement, how much can kim deduct as to the trip?B) Would the tax treatment of Kim's deduction differ if she was an independent contractor (rather than an employee)? Explain.
Business
1 answer:
Anuta_ua [19.1K]3 years ago
3 0

Answer and Explanation:

a. The computation of the amount deducted as if there is no reimbursement is

= Airfare charges + lodging for 5 days + meals for 5 days at 50% limit + full airport transportation

= $1,500 + $1,920 × 5 days ÷ 8 days + $1,440 × 5 days ÷ 8 days × 50% + $120

= $1,500 + $1,200 + $450 + $120

= $3,270

The unreimbursement travel expenses for an employee is 2% of adjusted gross income

b. The tax treatment in case of the independent contractor

= Airfare charges + lodging for 5 days + meals for 5 days at 50% limit + full airport transportation

= $1,500 + $1,920 × 5 days ÷ 8 days + $1,440 × 5 days ÷ 8 days × 50% + $120

= $1,500 + $1,200 + $450 + $120

= $3,270

It would remain the same in case of the independent contractor also.

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At GetHelp Inc., after customer service representatives complete training, their phone calls are monitored to determine if they
Ahat [919]

Answer:

This evaluation best exemplifies a "behavior-level" measure.

Explanation:

Donald Kirkpatrick proposed a Four-level training evaluation model for evaluating the impact of training on employees.

The four levels are; Reaction, Learning, Behavior and Results.

The behavior level of Kirkpatrick's model is the third stage and it comes after employees have undergone learning/training. At this stage, the behavior is measured through monitoring and observation to determine if they are implementing what they have learnt.

This gives some insight into how effective the training was.

Therefore GetHelp Inc. by monitoring the phone calls of their customer service representatives are carrying out a "behavior-level" measure.

6 0
3 years ago
In 2016, Saratoga Company had the following financial data: Operating income $320,000 Interest received $50,000 Interest paid $9
ololo11 [35]

In 2016, Saratoga Company had the following financial data: Operating income $320,000 Interest received $50,000 Interest paid $90,000 Dividend received $100,000 Dividend paid $150,000 Dividend of $100,000 was received from Findlay Inc. which is one of the companies that Saratoga company invest. As of the end of 2016, Saratoga Company owns 35% of Findlay, Inc.

Using the corporate tax rate table given below, what was the company’s tax Liability (just federal corporate income tax) for the year 2008?

335,000 - 10,000,000 34% 113,900 + .34x(inc>335,000)

Answer:

$78,200

Explanation:

From the given information:

Operating income = $320,000

Interest received = $50,000

Interest paid = $90000

Dividend received = $100000

Dividend paid        = $150,000

Therefore:

Saratoga Company Total Income = Operating income + Interest Received + Dividend Received  - Interest Paid - Dividend paid

Saratoga Company Total Income = $320,000 + $50,000 + $100,000 - $90,000 - $ 150,000

Saratoga Company Total Income = $470000 - $ 240000

Saratoga Company Total Income =  $230,000

According to the table given ;

The table tax percentage = 34 %

= $230,000  × 0.34

= $78,200

7 0
3 years ago
Why does a comma need to follow the word rain in this sentence?this is the following question, The weather guy said that it was
Strike441 [17]

Answer:

Eng grammar

Explanation:

Comma is Basically a 1 second pause after the word so when you say the above mentioned sentence then a one second pause is required after the word rain..

Hope I Helped

Pls mark as Brainliest.

8 0
3 years ago
Consider an offer to supply 5 paintings per year to an art gallery in Rome for the next five years. The contract is exclusive, m
IceJOKER [234]

Answer:

I will accept the offer if the price per painting is $56,312.41 or higher.

Explanation:

We will calculate the present value of the other option which is, selling our painting as a freelancer.

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C 315,000.00

time 5

rate 0.2

315000 \times \frac{1-(1+0.2)^{-5} }{0.2} = PV\\

PV $942,042.8241

Now, we subtract the signing bonus of 100,000

942,042.83 - 100,000 = 842,042.83

And solve for the annual proceeds from the painting we need to equalize the opportunity cost:

PV \div \frac{1-(1+r)^{-time} }{rate} = C\\

PV 842,042.83

time 5

rate 0.2

842042.83 \div \frac{1-(1+0.2)^{-5} }{0.2} = C\\

C  $ 281,562.03

Now, we divide by the 5 painting per year:

$281,562.03 per year / 5 painting per year = $56,312.41

3 0
3 years ago
The required volume of output to produce the motors will not require any incremental fixed overhead. Incremental variable overhe
Ludmilka [50]

Answer: Income will increase by $16 per unit

Explanation:

Your question isn't complete but the completed question was gotten online and would be used in answering the question accordingly.

The effect on income if Derby decides to make the motors will be calculated thus:

In-house:

Direct material = 38

Direct labor = 50

Overhead (Incremental) = 21

Total variable cost = 109

Outside:

Cost of supply = 125

Therefore, the income per unit will increase by (125 - 109) = 16.

3 0
3 years ago
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