The taxable income will Ramon show in 2021 is $89,000
What is taxable income?
The taxable income of a taxpayer means the income upon which tax would be charged in the tax year, it is determined as the adjusted gross income minus the itemized deductions of the taxpayer.
The itemized deductions means those amounts due to legal pronouncements, which have been exempted from taxes, which means , they need to be deducted from the taxpayer gross earnings before tax computation.
It is the tax authority way of providing succor to taxpayers by granting certain exemptions.
Taxable income=adjusted gross income- itemized deductions
Taxable income=$98,000-$9000
taxable income=$89,000
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Answer:
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Explanation:
Answer:
D
Explanation:
Whether you have a loan or a credit card, making late payments or missing payments can cause your credit score to fall.
Answer:
<h2>Under FOB destination contract,the monetary transaction from the shipment delivery of not officially recorded by the seller until it is finally delivered to the buyer at the delivery point.Hence,the correct answer is option a. or True.</h2>
Explanation:
The FOB destination contract does not officially recognize the completion of any shipment or transactions associated with it until it is handed over the to the buyer at the delivery point.While the good/s or shipment is in transit,the tile remains with the seller until it is finally handed over to the buyer,when the tile passes to the buyer.Now,at the delivery point when the buyer actually obtains the product or shipment and officially claims the title,the transaction can be considered to be officially completed and approved.At this point only,the seller can officially record any monetary transaction or revenue generated by the sale of the concerned good or shipment.
Answer:
Business Continuation Plan
Explanation:
Business Continuation plan is a form of agreement developed by partners of a business whereby in a case when one partner dies or is permanently disabled in such a way he/she becomes ineffective, the other partner would buy out the interest of the deceased or permanently disabled at s already predetermined price.
In general business Continuation plan guides against potential threats to a company. It ensures personnel and asset are protective and able function quickly in the case of disaster. In this situation, the potential threat against the company is the death of a partner and the method used in protecting the company is by fixing a price for a partner to by the other partner's interest should in case one dies.
