Answer:
correct option is a.$0
Explanation:
given data
passive activity losses = $150,000
active business income = $120,000
portfolio income = $30,000
to find out
how much passive activity loss can White Corporation deduct
solution
as per given we know that here white corporation is a Personal Service Corporation
so that it is not deduct the passive loss against the portfolio income
so correct option is a.$0
Answer:
D. Deflation
Explanation:
"Consumer Price Index" <em>(CPI)</em> measures the changes in the weighted average of prices of a market basket (consisting of consumer goods and services). It tells the<u> cost of living for every consumer. </u>
"Inflation" refers to the sustained increase of prices of goods and services while "deflation" refers to the sustained decrease of prices of goods and services.
In the situation above, the CPI is considered lower than before, thus <u>deflation</u> must have occurred during the second six-year period. It shows a <u>negative inflation rate.</u>
So, this explains the answer.
Answer:
Encouraging saving by allowing workers to set aside a portion of their earnings in tax-free retirement
Imposing restrictions on foreign ownership of domestic capital
Explanation:
Answer: $15,060
Explanation:
From the question, we are informed that Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares.
We are further told that Ben sold his shares to Joe for $10,000 on March 31, 1998 and that the corp. reported a $50,000 loss at the end of 1998. The loss that will be allocated to Joe will be:
= $50,000 × 40% × 9/12
= $50,000 × 0.4 × 0.75
= $15,000
The closest figure we have close to that is $15,060 which is option B