Answer:
a. Ted paid $30 rent on a safety deposit box at the bank. In this box he kept the few shares of stock that he owned.
Is not a business expense nor it can be itemized.
b. Tyler paid $154 for minor repairs to the fence at a rental house he owned.
Repairs and maintenance expenses of rental property decrease your AGI.
c. Timmy paid $775 for health insurance premiums this year. Timmy is employed full-time and his employer paid the remaining premiums as a qualified fringe benefit.
If Timmy's medical expenses were more than 10% of your AGI, then you can deduct the difference. But I doubt Timmy earns less than $7,750.
d. Tess paid $1,880 of state income taxes on her consulting income.
If you itemize deductions, you can deduct up to $10,000 in state or local taxes.
Answer:
Yes, I feel like anyone can be taught what charitable means and what it is. Its all about helping..and anyone could learn that without being taught
Explanation:
Federal Government collects excise taxes
I think! not 100% sure
Basically I don’t know the answer but it wants me to put something
Answer:
differing opinions on the point we are on the Laffer Curve
A
Explanation:
The Laffer Curve is a supply side economic theory developed by Arthur Laffer in 1974.
The curve depicts the relationship between tax rates and tax revenue
According to this theory, higher income tax rate reduces the incentive of labour to work and invest due to the fact that labour would have to pay higher tax. This means that at some point, increase in the tax rate would decrease government revenue rather than increase it.
The theory submits that there is an optimal tax rate at which tax income is maximised. Once this point is surpassed, increase in tax rate would reduce government revenue
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Effects of a binding price ceiling
1. It leads to shortages
2. it leads to the development of black markets
3. it prevents producers from raising price beyond a certain price
4. It lowers the price consumers pay for a product. This increases consumer surplus
A rent ceiling would lead to shortage of houses and a reduction of the quality of available housing.
