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Musya8 [376]
3 years ago
6

Tawana owns and operates a sole proprietorship and has a 37 percent marginal tax rate. She provides her son, Jonathon, $8,000 a

year for college expenses. Jonathon works as a pizza delivery person every fall and has a marginal tax rate of 15 percent. a. What could Tawana do to reduce her family tax burden?
Employ her son in her sole proprietorship
Ask Jonathon to find a new job
Start a new enterprise
Business
1 answer:
kumpel [21]3 years ago
8 0

Answer:

The answer is: Employ her son in her sole proprietorship

Explanation:

If Tawana employs her son, she can deduct he $8,000 she gives him from her adjusted gross income. She would save $2,960 ($8,000 x 37%) from her income taxes. Sh would probably have to pay her son's taxes which are lower and add up to $1,200.

At the end Tawana would be saving $1,760 ($2,960 - $1,200) which is the difference between her tax rate and her son's tax rate.  

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What was the result in the Lucy v. Zehmer case (referenced in the textbook) involving whether allegations of joking regarding th
iogann1982 [59]

Answer:

The Supreme Court ruled in favour of the Complainants, enforcing the contract.

Explanation:

The Lucy Vs Zehmer case was one of decision on if a contract was binding or not on the basis of the undisclosed intentions of the parties involved in the contract. Zehmer alleged that he had jokingly sold and transferred title to Lucy while drunk. However the court ruled that contract for the sale of land to Lucy was valid on the basis that the secret intentions of Zehmer was not known or disclosed in the sale of the land and only his actions count for the contract to be binding.

5 0
3 years ago
An accounting system must be able to a.collect and classify information. b.summarize information. c.report information. d.All of
Vikentia [17]

Answer:

The answer is D.

Explanation:

The chronological order of Accounting System is:

Collecting of information

Classifying of information

Summarizing of information

Reporting a business financial

and operating information.

You can see all the options are in the chronological order of accounting system. Therefore, all of the above is correct.

5 0
3 years ago
In a market with 1,000 identical firms, the short-run market supply is the
kompoz [17]

Answer: Option(a) is correct.

Explanation:

Correct Option : Marginal cost curve above average variable cost for a typical firm in the market.

In a market of perfect competition, the shutdown price of the firms will be minimum point of average variable cost. So, there is supply of goods by the firms if the price is equal or above the shutdown point of the firm.

Therefore, the supply curve of the firm is the above part of the MC curve from the minimum point of average variable cost.

8 0
3 years ago
Which of the following is NOT one of the core capabilities that span across all five mission areas?
Andreas93 [3]

Answer:

D. Health and social services. fall into the Recovery mission area only

Explanation:

Health and social services. fall into the Recovery mission area only

8 0
3 years ago
1. The period of time a person is expected to be in the work force is referred to as: a. Retirement life expectancy. b. Work lif
NeX [460]

Answer:

Work life expectancy

Explanation:

Work life expectancy can be defined as the period of time than an l individual is expected to be actively involved in the workforce. An individual's work life is greatly influenced by a number of different factors including educational height, health, marital and family responsibilities, economic opportunity, and additional sources of income.

Work life expectancy could also influenced by the high rate of unemployment in the economy and an individual's voluntary or involuntary withdrawal from the workforce.

6 0
3 years ago
Read 2 more answers
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