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slega [8]
3 years ago
12

Margo has $2,100 withheld from her wages for state income taxes during 2014. In March of 2014, she paid $400 in additional taxes

for her 2013 state tax return. Her state income tax liability for 2014 is $2,600 and she pays the additional $500 when she files her 2014 state tax return in April of 2015. What amount should Margo deduct as an itemized deduction for state income taxes on her 2014 federal income tax return, assuming she elects to deduct state and local income taxes?a. $2,100b. $2,500c. $2,600d. $3,000e. None of the above
Business
1 answer:
inn [45]3 years ago
5 0

Answer:

b. $2,500

Explanation:

amount that Margo should deduct as an itemized deduction for state income taxes on her 2014 federal income tax return, assuming she elects to deduct state and local income taxes$2100 + $400 = $2500

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maxonik [38]

Umm... I can't find the choices... So, those are the choices I made up that are correct to your question.


  • Spills covering grounds or falling hazards, such as blocked paths or cords going over the ground.
  • Working from heights, including ladders, scaffolds, roofs, or an elevated workspace.
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6 0
3 years ago
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Although the Chen Company’s milling machine is old, it is still in relatively good working order and would last for another 10 y
SCORPION-xisa [38]

Keeping the appropriate cash flow in the cash flow register, using a financial calculator, NPV should be calculated for taking the decision.

Answer: According to the NPV calculated, Chen should buy a new machine.

<u>Explanation:</u>

Cash outflow = $40000

Increase in annual after-tax cash flows : CF = $9000

Place the cash flow on a time line:

0 1 2 10

I 10 I I . . . I

-110000 19000 19000 19000

With a financial calculator, input the appropriate cash flow into the cash flow register, input I/YR = 10, and then solve for NPV. The answer for NPV is $6746.78.

Thus, Chen should buy a new machine.

5 0
3 years ago
Which person(s) should decide upon the problem statement the team will be working toward? The team’s leader
Basile [38]
<span>Which person should decide upon the problem statement the team will be working toward? All group members. All group members should be working towards the problem statement, problems, and anything resulting a team project. The project is in a team format for a reason, so that everyone works together.

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8 0
3 years ago
Which option best completes the following sentence? Every decision you make is a(n) ______________ decision because you are choo
Ivenika [448]

First blank: economic

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6 0
3 years ago
APV and WACC are similar in that they reflect the tax benefit of Blank______. Multiple choice question. leverage relocation equi
bixtya [17]

APV and WACC are similar in that they reflect the tax benefit of leverage.

<h3>How to illustrate the information?</h3>

It should be noted that the adjusted present value (APV) is used to value a project.

The weighted cost of capital (WACC) implies the rate at which a company is expected to pay all its security holders in order to finance its assets.

In conclusion, APV and WACC are similar in that they reflect the tax benefit of leverage.

<u>Complete question:</u>

APV and WACC are similar in that they reflect the tax benefit of ...........

a. leverage

b. relocation

c. equity

d. waiting

Learn more about WACC on:

brainly.com/question/25566972

#SPJ1

3 0
2 years ago
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