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marin [14]
3 years ago
10

Martha and Rob, a married couple, under 50 years of age, have adjusted gross income on their 2019 joint income tax return of $45

,000, before considering any IRA deduction. Martha and Rob have no earned income. What is the amount of Martha’s maximum deductible IRA contribution?
Business
1 answer:
olchik [2.2K]3 years ago
5 0

Answer: $0

Explanation:

In the United States tax law, there exists 2 principal types of IRAs. They include: the traditional IRA and the Roth IRA.

Annual contributions are deductible when made to a traditional IRA, and in which case tax is paid on the retirement distributions.

But annual contributions made to a Roth IRA aren't deductible, and in which case taxes are not paid on retirement distributions.

Martha’s maximum deductible IRA contribution is $0 because taxes are not paid in the current year on earnings in both types of IRAs.

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On January 1, 2021, Kendall Inc. began construction of an automated cattle feeder system. The system was finished and ready for
beks73 [17]

Answer:

The correct answer is "$21490".

Explanation:

The given expenditures are:

January:

= $205000

September:

= $306000

December:

= $306000

Now,

January average will be:

= 205000\times \frac{12}{12}

= 205000 ($)

September average will be:

= 306000\times \frac{4}{12}

= 102000

December average will be:

= 306000\times \frac{0}{12}

= 0

The total average will be:

= 205000+102000+0

= 307000 ($)

Hence,

The Interest capitalized for year 2021 will be:

= Interest \ rate\times Weighted \ average

On substituting the estimated values, we get

= 7 \ percent\times 307000

= 21490 ($)

3 0
2 years ago
Jean, a geologic specialist, agreed to accept an overseas assignment for her company after the company agreed to store her yacht
Crazy boy [7]

Answer:

The answer is Assistance programs.

Explanation:

Because Assistance programs  are benefits that are offered to employees to helps manage several challenges they might have to accomplish the job. In this case, the company offered Jean several benefits such as bringing the pet, storing the yacht,  it is a way to motivate Jean to accept the offer and do the best she can.

5 0
2 years ago
Telecommuters are not key to a business continuity plan (BCP) because they work from remote locations. Therefore, any disruption
Marrrta [24]

Answer:

This false

Explanation:

A telecommuter is a remote worker that does his or her job from home and when it is time to have communications with their office, they do so through emails, fax, phone or the internet. the BCP is the ability of the organization to continue with its services and production even after a disruption occurred in the business.

A disruption in the business is capable of affecting the telecommuter too. Working remotely does not make their job less important

8 0
3 years ago
Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500 Cash Allowance straight off
Ksivusya [100]

Answer: $3000

Explanation:

Based on the information given, the amount of loan that Milly needs will be the addition of the down payment and the cash allowance and this will be:

= Down payment + Cash allowance

= $2500 + $500

= $3000

Molly needs a loan of $3000

4 0
3 years ago
Read 2 more answers
Under what circumstances might Costco have to start paying its workers less?
Oksi-84 [34.3K]

Answer:

If for some reason Costco was to suffer from a lawsuit then it would have no choice but to cut the pay rates of their employees. Also, if there was a depression in the economic that caused a dramatic decrease in the stores profit.

3 0
2 years ago
Read 2 more answers
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