Answer:
$300
Explanation:
California tax law continue to allow miscellaneous itemized deductions subject to 2% of Federal AGI
Tax preparation fees $1,000
Less: AGI limit of 2% <u>$700 </u>(35,000*2%)
Deduction on his/her California <u>$300</u>
income tax return
Answer: C. A decrease to assets for $45,000.
Explanation:
When shareholders redeem their stock, the company pays them for the redeemed stock at a certain price which in this case is $45.
The total cost of redemption is therefore:
= 45 * 1,000
= $45,000
The company uses cash to pay for this which is an asset. Assets will therefore reduce by $45,000 which is the amount of cash paid.
1. If I am in charge of developing a tax system for my country, I will structure the tax rate in such a way that, the rich will pay a higher percentage of tax than the poor. This type of tax system is called progressive tax. The income tax for instance will be based on the amount of income that each person earns, thus, those earning higher incomes will pay more tax than those earning lower incomes. Thus, the rich will always pay the greater percentage of taxes.
2. Tax payments should be used for the following:
a. To fund health programs.
b. To fund national defense and security programs.
c. To fund social security programs.
d. To pay interests on national debts.
e. To pay war veterans.
f. To fund educational program.
g. To fund assistance agricultural programs.
Answer: C. a minor in psychology
Explanation:
A troubled teens are those children who exhibit behavioral, emotional, and learning problems. They become habitual of risk behaviors and practices that includes the drinking, sex, violence, drug use, self-harming, and other criminal acts. These children are affected by depression, eating disorders, and anxiety.
A minor in psychology will help Landon to understand the psychology of these troubled teens. The subject emphasis over the strategies to reduce the mental stress, anxiety, and different kinds of delinquent behaviors.
