The statements are:
Because Dazzle is not a separate tax entity, all the owners declare revenue earned through the company on their personal federal tax returns.
The $5 million dollar villa is protected from business liabilities unless the liability is incurred through wrongful acts.
Answer: $40,000
Explanation:
Kline brings in equipment that is worth $60,000 but has a basis of $45,000.
The equipment however is subject to a loan of $10,000.
This loan will have to be deducted from the basis. The partnership however is assuming the loan and Kline is only 50% liable in the partnership so Kline's basis will only be affected by half of the loan.
Basis = 45,000 - 5,000
= $40,000
Answer:
$1,057.86
Explanation:
Payroll taxes include:
- Social security tax withholdings 6.2% (on the first $132,900 of wages paid) = 6.2% x $8,338 = $516.96
- Medicare tax withholding 1.45% = 1.45% x $8,338 = $120.90
- Federal unemployment taxes (FUTA) 0.6% = $7,000 x 0.6% = $42
- State unemployment taxes (SUTA) 5.4% = $7,000 x 5.4% = $378
total payroll taxes = $1,057.86
Answer:
The correct statement is expressed by option B - Firms with a low-cost position can reduce the threat of rivalry in an industry.
Explanation:
Firms with a low-cost position can reduce the threat of rivalry in an industry based on these reasons:
Firstly, these firms can decide to set their prices to be the same as the prices of higher-cost competitors.
Secondly, low-cost firms can decide to price their goods or services a little bit below the prices of their high-cost rivals.
