All categories

3 years ago

Which item(s) are tax deductible for consumers who are buying or renting a home?

Business

2 answers:

castortr0y [4]3 years ago

6 0

A deductible expense is one you can subtract from your taxable gross income.

For consumers who are buying or renting a home deductible tax is the interest and property tax portions of your mortgage payment, medical bills, etc. After you purchase a home, you are allowed to deduct all of your interest payments on any mortgage up to $750 million.

Mumz [18]3 years ago

5 0

You can deduct the interest and property tax portions of your mortgage payment, medical bills, etc.

You might be interested in

If elodea is an aquatic plant, you can conclude that it releases which has into its environment as a result of photosynthesis?

Andre45 [30]

An Aquatic plant also is like other plants which produce photosynthesis. So it releases Oxygen to the environment

3 0

3 years ago

Alice purchased office furniture on September 20, 2018, for $100,000. On October 10, 2018, she purchased business computers for

lana [24]

Answer:

The correct answer is $30,290.

Explanation:

According to the scenario, the computation can be done as follows:

This applies regular MACRs

So, As furniture is the Seven year property,

So, the cost recovery deduction for the furniture = $100,000 × .1429

= $14,290

And The computer is a five year asset

So, the cost recovery deduction for the Computer = $80,000 × .20

= $16,000

So, Total Cost recovery deduction = Cost of recovery deduction for furniture + cost of recovery deduction for computer

= $14,290 + $16,000

= $30,290

Hence, the cost recovery deduction for the business assets for 2019 is $30,290.

8 0

3 years ago

considering synonymthe web 2.0 is not a new and improved version of the internet. which of the following alternate names most ac

Ludmilka [50]

WWW , also referred as Web 1.0 is the traditional World Wide Web and Web 2.0 is the current state of online technologies.
The biggest difference between Web 2.0 and Web 1.0 is the greater collaboration among Internet users, content providers and enterprises (websites that enable community-based input, interaction, content-sharing and collaboration). At Web 1.0 data was posted on Web sites, and users simply viewed or downloaded the content. Web 2.0 offers more dynamic Web that is more organized and is based on serving Web applications to users.

7 0

4 years ago

Evaluate the following investment options by comparing their risk and liquidity: buying a franchise real estate (buying property

Gala2k [10]

Answer:

Buying a franchise: For me, this is the riskiest investment, because the success of the business depends on the product or service it sells. If there is no demand for the product or service, the business will go under. This investment is also highly illiquid—in addition, finding someone willing to buy a business is difficult.

Mutual fund: This is the least risky of the three investment options. It is highly liquid compared to buying a franchise or real estate. Mutual fund investors can easily cash in their investments by selling the units they hold in a fund at the current market price.

Real estate: Real estate is a risky investment. First, property prices can fall in a depressed housing market. Second, real estate properties are illiquid. They can’t be sold quickly for a good price, especially in times of recession in the housing market or in the overall economy.

A mutual fund is the best of the three investment options for me, for the following reasons:

I can invest small amounts of money regularly and get higher returns on the investment than I would from a savings account. Also, this is a highly liquid investment. In case of a financial emergency, I can quickly sell my mutual fund units at their current market price.

Real estate is currently both a risky and illiquid investment, because of poor market conditions.

Buying a franchise is not a good option for me, because I don’t plan to go into business. In any case, I don’t have the money to make this investment.

Explanation: PLATO

8 0

3 years ago

Alma owns fifty shares of common stock in Alpha Corporation. Alma also owns eighty shares of preferred stock in the same corpora

andreyandreev [35.5K]

Given the situation described above, Alma will be able to cast 50 votes.

This is because common stock gives voting rights to shareholders. And given that Alma has 50 shares of common stocks. Therefore, he would be able to cast 50 votes.

On the other hand, preferred stocks give no voting rights to shareholders.

However, preferred shareholders have preference over a company's revenue or earnings, which implies that they are paid dividends before common shareholders.

Hence, in this case, it is concluded that the correct answer is "50 votes."

Learn more here: brainly.com/question/3518273

3 0

2 years ago