All categories

3 years ago

Which of the following does not give rise to a business expense for self-employed taxpayer's uniforms or special clothing?

Business

1 answer:

svp [43]3 years ago

4 0

Answer: e. All of these choices are deductible.

Explanation:

All of the above give rise to a business expense for self-employed taxpayer's uniforms or special clothing and as such are deductible.

A lawyer needs to look the part and the option said it was a 'business suit' so that classifies as a work expense.

A clown cannot be a clown without their costume so that is definitely a business Expense as well.

Some scientists need hazmat suits to perform their duties effectively so this counts as a business expense as well and is also deductible.

And a mascot like a clown, cannot be a mascot without their attire so that is a business Expense as well.

You might be interested in

What is a sound recorder used for

VLD [36.1K]

It is used to record sounds that you can hear.

3 0

2 years ago

CrochetCo is considering an investment in a project which would require an initial outlay of $350,000 and produce expected cash

Lelu [443]

Answer:

Ans. A) NPV= -$9306

Explanation:

Hi, the first thing we need to do is to find the after-tax cost of the firm's capital, and since all capital sources are expressed in terms of after-tax percentage, we just multiply each proportion of capital by its costs, I mean

Long term Debt (7%) * 25% +Preffered Stock(11%)*15% + Common Stock(15%)*60%

The answer to this is 12.40%.

Now, we can find the net present value of this project by using the following formula.

$NPV=-InitialOutlay+\frac{CashFlow((1+Cost of Capital)^{n} -1)}{Cost of Capital(1+Cost of Capital)^{n}}$

$NPV=-350,000+\frac{95,450((1+0.124)^{5} -1)}{0.124(1+0.124)^{5}} =-9,306.5$

Since the expected cash flow takes place 5 times form year 1 to 5, and is equal to $95,450, "n" is equals to 5 and "CashFlow" is equal to $95,450.

Therefore, the NPV of this project is -$9,306, which is answer A)

Best of luck.

3 0

2 years ago

Mark, Cal and Aidan have decided to form a business where all owners will share in operating the business and in assuming liabil

Llana [10]

The partnership most likely formed is a general partnership.

<h3>What is a general partnership?</h3>

A general partnership is when two or more people come together to form a business. The people who come together to create the business are referred to as partners.

In a general partnership, all the partners are responsible for the running the company. All the partners have an unlimited liability.

To learn more about partnerships, please check: brainly.com/question/9909227

4 0

1 year ago

If retailers such as walmart and target find that inventories are rapidly being depleted, would it have been caused by a rightwa

Elanso [62]

Answer:

Explanation:

To deplete is to reduce in quantity, so if a product depletes it means the demand of that product has increased, and an increase is represented by a rightward change.

The likely consequence would be to order for new products, there may be stock out costs such as loss of goodwill, loss of sales etc. Investment would increase for that product and period to exploit the sales better and increase earnings, so money would be spent to order, transport and store the product.

6 0

3 years ago

Full-Time Employed = 80 Part-Time Employed = 25 Unemployed = 15 Discouraged Workers = 5 Members of Underground Economy = 6 Consu

Dafna11 [192]

Answer:

a) 12.5%

Explanation:

Labor force = Unemployed labor + Part time employed + Full time employed = 15 + 25 + 80 = 120

Unemployment rate = Unemployed / Labor force *100 = 15/120 *100 = 12.5%

A. 12.5%

3 0

2 years ago

Read 2 more answers