Which account would you have a debit card linked to?

Scott and Laura are married and file a joint tax return. Laura owns a sole proprietorship (not a "specified services" business)

ehidna [41]

Solution :

QBI 300000 W-2 wages 40000

Taxable 3814000 QBP 10000

income

W-2 limit

Phase greater of

out MFJ

Start 315000 50% of W-2 20000

Finish 415000 or 25% of W-2 10250

+ 2.5% of QBP

Selected 20000 Being higher As part 1

Taxable income above phase out

$\frac{381,400-315000}{100000}$ 66%

Now applying gross deduction and phase out

Gross deduction Being 20% of QBI = 66000

Less : wage limit of QBI - 20000

Phase out % x 66%

Phase out amount 30,360

Final deduction = gross deduction- phase out amount

= 66,000 - 30,360

= 35,640

8 0

3 years ago

When bonds are sold at a premium, if the annual straight-line amortization amount is compared to the annual effective interest a

Tasya [4]

Answer:

When a company uses the straight line amortization of bond premiums, the total amount of interest expense will be equal to the expense calculated using the effective interest method.

The advantage of using the straight line amortization is that it is a much simpler method. Under this method, the bond's premium is amortized over the life of the bond.

8 0

3 years ago

There is a 20 percent probability the economy will boom, 70 percent probability it will be normal, and a 10 percent probability

kenny6666 [7]

The answer is B because I don’t some calculations and got that answer

4 0

3 years ago

Ivanhoe Corporation has fixed costs of $507,200. It has a unit selling price of $9.00, unit variable cost of $7.35, and a target

nika2105 [10]

Answer:

Break-even point in units= 1,248,000

Explanation:

Giving the following information:

Unitary contribution margin= 9 - 7.35= $1.65

Fixed costs= $507,200

Desired profit= $1,552,000

<u>To calculate the number of units to be sold, we need to use the following formula:</u>

Break-even point in units= (fixed costs + desired profit) / contribution margin per unit

Break-even point in units= (507,200 + 1,552,000) / 1.65

Break-even point in units= 1,248,000

6 0

3 years ago

When a reduction in the price of a good allows a consumer to purchase more of all goods, this effect is called the a. elasticity

kogti [31]

Answer:

The correct answer is b. income effect.

Explanation:

The income effect describes how the change in the price of a good can change the quantity that consumers will demand of that good and related goods, based on how the price change affects their real income.

7 0

4 years ago

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