1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
GrogVix [38]
3 years ago
5

Doug and Sue Click file a joint tax return and decide to itemize their deductions. The Clicks' income for the year consists of $

89,000 in salary, $1,500 interest income, and $700 long-term capital loss. The Clicks' expenses for the year consist of $1,450 investment interest expense. Assuming that the Clicks' marginal tax rate is 35 percent, what is the amount of their investment interest expense deduction for the year
Business
1 answer:
Yuki888 [10]3 years ago
8 0

Answer:

$1,450

Explanation:

Interest Income = $1,500

Investment Interest expenses = $1,450

Allowed deduction limit investment interest is subject to investment income. So $1,450 is allowed as deduction

You might be interested in
What’s one difference between a checking account and a savings account
lutik1710 [3]
A checking account starts building credit
6 0
3 years ago
Reading from left to right, which list shows the tax types that proportionally increase with a rise in income?
Murrr4er [49]

Answer:

Regressive, proportional, progressive

Explanation:

There are three main tax categories: regressive, proportional, and progressive.

Regressive Tax

Regressive taxes are type f tax accessed as a percentage of the value of an asset purchased or possessed. Under this system, low-income earners tend to pay a higher amount compared to high income earners because it has no correlation with what the taxpayer earns or their income level.

Proportional Tax

In a proportional tax system, everyone irrespective of their income pay the same rate. This tax system affects everyone equally.

Progressive Tax

A progressive tax has it name implies is progressive in nature.The tax rate increases as the income level of the tax payer increases. Therefore high-income earning individuals pay more than low-income earning individuals

3 0
3 years ago
Whitney has an A.A. in early childhood education and wants a full-time job. She is a social person and wants to work in a fun en
sergiy2304 [10]

Answer:

The correct answer is option C.

She wants to work with a different group of adults

Explanation:

As Whitney is a social person and she wants to work in a happy environment with happy people and she notices that the employees all seem uncomfortable and the children are unnaturally quiet.

Therefore, due to these reasons and approach of Whitney the job is unfit for her.

7 0
3 years ago
Dudley Savings Bank wishes to take a position in Treasury bond futures contracts, which currently have a quote of 110 − 100. Dud
djverab [1.8K]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

6 0
3 years ago
Indexation refers to a process of adjusting the nominal interest rate so that it is equal to the real interest rate. O using a l
Bond [772]

Indexation is the process of using a statute or contract to automatically adjust a dollar amount for the impacts of inflation to bring the nominal interest rate into line with the actual interest rate.

<h3>What is Indexation?</h3>

Indexation refers to the process of changing a price, wage, or other value in response to changes in another price or a group of related values. Indexation can be used to account for changes in prices and costs across regions, as well as to account for the effects of inflation, cost of living, and input prices over time. Deindexation is the unwinding of indexation, which is a mechanism to adjust income transfers using a price index in order to maintain the public's purchasing power after inflation. The purchase price of an investment is modified through indexation to account for the impact of inflation on it. Lower earnings result from a greater purchasing price, which in turn results in a lower tax. 

To learn more about indexation click,

brainly.com/question/4692093

#SPJ1

4 0
1 year ago
Other questions:
  • If Roten Rooters, Inc., has an equity multiplier of 1.27, total asset turnover of 2.10, and a profit margin of 6.1 percent, what
    10·1 answer
  • In _____, the buyer is often the only member of the buying center involved in the process.
    7·1 answer
  • A retired athlete built a gym near his house that could be used for free by all the residents in the neighborhood. However, the
    15·1 answer
  • In the United States, the money supply is determined: A) only by the Fed. B) only by the behavior of individuals who hold money
    9·1 answer
  • Mary is in contract negotiations with a publishing house for her new novel. She has two options. She may be paid $100,000 up fro
    8·1 answer
  • Q: What determines the balance of production and consumption?
    11·1 answer
  • A​ BBB-rated corporate bond has a yield to maturity of 7.7 %. A U.S. treasury security has a yield to maturity of 6.3 %. These y
    8·1 answer
  • Use the following information to prepare the September cash budget for PTO Manufacturing Co. The following informaition relates
    10·1 answer
  • Scott Bartello, a salesperson for Lamkin Golf Products, develops a list of potential customers and evaluates them on the basis o
    13·1 answer
  • Unemployment caused by people voluntarily quitting work in order to seek more attractive employment is called
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!