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Ainat [17]
4 years ago
12

Stew Beauf is a self-employed surfboard-maker in 2019. His Schedule C net income is $144,400 for the year. He also has a part-ti

me job and earns $8,664 in wages subject to FICA taxes. Calculate Stew's self-employment tax for 2019 using Schedule SE.
Business
1 answer:
just olya [345]4 years ago
5 0

Answer:

Calculate the self-employment tax for 2019 as follows:

Schedule C net income = $144,400

Less: Self-employment adjustment ($144,400 x 7.65%) = $11,046.6

Taxable self-employment earnings = $133,353.40

Self-employment tax rate = 15.30%

Total self-employment tax = $20,403.10

Therefore: the total self-employment tax is $20,403.10

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4 years ago
This year three manufacturers of mattresses have closed shop and there is only one mattress manufacture left. With few additiona
Rainbow [258]

Answer:

the supply will decrease causing an increase in pricing on mattresses.

Explanation:

Monopolism occurs when only one supplier produces a product with no other competitors. They control the supply and price of commodities.

Since other mattresse sellers have closed shop, the final seller will have monopoly of the mattresse market.

In order to maximise revenue he will reduce supply and increase prices so that customers will have no choice but to buy the scarce mattresse at higher price.

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3 years ago
1. Describe your business idea. (1-5 sentences. 2.0 points) TIP: This should be the same business idea you came up with in the f
Norma-Jean [14]

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Explanation:

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4 0
4 years ago
any of the following could be considered business equipment except: a. buildings b. machines c. tools d. vehicles
polet [3.4K]
Buildings would be the best answer
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3 years ago
If a fisherman must sell all of his daily catch before it spoils for whatever price he is offered, once the fish are caught, the
SpyIntel [72]

Answer:

Zero

Explanation:

Supply is buyers ability & willingness to sell at given price, period of time.

Elasticity of Supply is change in supply by buyers, in response to price change.

Supply Elasticity is as undermentioned in following cases :-

  • Zero (Perfectly Inelastic) - Quantity supplied doesn't change with price change.
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Given : Fishermen must sell all his daily catch before it spoils; means he will have to sell daily produce <u>irrespective</u> of any price change (rise / fall). So, the elasticity of supply is zero.

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