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
vovangra [49]
4 years ago
12

Daryl, who had significant itemized deductions for 2018 and therefore was eligible to use Schedule A, purchased a new vehicle in

2018 for $40,000 with a state sales tax of 10%. The allocated deduction amount for other purchases made by Daryl throughout the year, using the IRS state and local sales tax tables, would be $750. He also paid state income taxes of $4,500 for 2018. Daryl's best option to legally maximize his tax savings in 2018, assuming he was under the $10,000 limit for state and local taxes would be to:
a. deduct the amount of state slaes tax for the vehicle purchaase on schedule A
b. take the standard deduction
c. take the deduction for the state income taxes pain on schedule A
d. deduct his total amount of allowable state sales tax deduction on schedule A
Business
1 answer:
postnew [5]4 years ago
3 0

Answer:

D.

Explanation:

Legally, Daryl's best option is to deduct his total amount of allowable state sales tax deduction on Schedule A.

You might be interested in
Will FCC charge you if you are 18 but not older than 18 and you report them because the agent from sprint has told to but your i
Stolb23 [73]
What do you mean 18, but not older than 18?
6 0
4 years ago
What is demand?
dezoksy [38]
The answer is B. the amount of something consumers want
8 0
3 years ago
34+33n=15v. what is thirty-four plus thirty-three n equal fifteen v???
Mariulka [41]

Answer:

n =15v_34=33

Explanation:

34+33n=15v

33n+34=15v

(33n+34)+(-34)=15v+(-34)

33n+34-34=15v-34

33n=15v-34

33n_=15v-34

33 33

n=15v-34=33

4 0
3 years ago
Tedd E. Bear has an annual salary of $48,000 with no other loans outstanding. Using the 25% guideline from class and with a 20%
Kobotan [32]

Answer:

The total loan value would be of $261,825

Explanation:

In order to calculate how expensive of a home can Tedd purchase using a 4%, 30 year mortgage we would have to calculate first the amount of annual payments as follows:

amount of annual payments = $48,000*0.25 = $12,000

PMT = 12,000/12 = 1000

FV = 0

rate = 4%/12

N = 30*12

Hence, use FV function in Excel  amount after down payment = $209,461.24

this represents 80% of the loan , so total loan value = $209,461.24/0.8 = $261,825

The total loan value would be of $261,825

3 0
3 years ago
n investment adviser has 3 managing partners and 3 investment adviser representatives. All of the partners have completed the Ce
dusya [7]

Answer: permitted since it is true

Explanation:

From the question, we are informed that an investment adviser has 3 managing partners and 3 investment adviser representatives and that all of the partners have completed the Certified Financial Planner program and received the designation.

We are further told that the 3 IARs have been enrolled in a CFP preparation course and are scheduled to take the next CFP exam. The IA publishes an advertisement that states: "All of our partners are Certified Financial Planners."

This advertisement is allowed because the advertisement is true. Since, we are already given the information that the 3 partners of the firm have done their Certified Financial Programs, therefore, the statement is true and not a misleading one.

5 0
3 years ago
Other questions:
  • A business firm's interaction with the environment is a characteristic of an open system true or false
    7·1 answer
  • A ________ is owned and managed by a group of individuals who share in decision-making and risk.
    13·1 answer
  • Selected transactions for Alvarado Company during its first month in business are presented below. Alvarado's chart of accounts
    10·1 answer
  • Can anyone help please explanatins included thank u in advance
    7·1 answer
  • Repairing the roof, recoating the driveways, replacing lighting, and cleaning out the gutters on an apartment building are consi
    10·1 answer
  • Simplify:<br><br>a. (-18x2y)/(3x)<br><br>b. (x-4) (x-1) - 4(x-3) (x+2)​
    11·2 answers
  • GDP is the: dollar amount of all sales made in the economy in one year. total market value of all final goods and services produ
    8·2 answers
  • On August 1, Grayson Company bought goods with a list price of $4,800, terms 2/10, n/30. The firm records purchases at invoice p
    11·1 answer
  • K Company estimates that overhead costs for the next year will be $3,600,000 for indirect labor and $950,000 for factory utiliti
    5·1 answer
  • airline tickets may be charged directly to the organization, or the traveler may pay and be reimbursed by the company?
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!