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
Alona [7]
3 years ago
14

Tim is a single, cash-method taxpayer with an AGI of $50,000. In April of this year, Tim paid $1,100 with his state income tax r

eturn for the previous year. During the year, Tim had $5,050 of state income tax and $17,850 of federal income tax withheld from his salary. In addition, Tim made estimated payments of $1,190 and $1,880 of state and federal income taxes, respectively. Finally, Tim expects to receive a refund of $465 for state income taxes when he files his state tax return for this year in April next year. What is the amount of taxes that Tim can deduct as an itemized deduction?
Business
1 answer:
Ivan3 years ago
8 0

Answer:

The amount of taxes that Tim can deduct as an itemized deduction is $7,340

Explanation:

The computation of the itemized deduction is shown below:

= State income tax for the previous year + state income tax from his salary + estimated payments of state income tax

= $1,100 + $5,050 + $1,190

= $7,340

The other item values which are mentioned in the question are not considered and not affect the deductions for current year So, we do not take in the computation part. Hence, ignored it

You might be interested in
Ivan is the founder of a firm producing self-driving vehicles. Because the industry is so new and chaotic, Ivan favors a top-dow
mina [271]

a. The self-driving vehicle industry is changing too much for the top-down approach to be effective.

b. The top-down approach can only be applied to specific business functions.

c. The top-down approach leaves other employees uncertain about their roles in the company.

d. The top-down approach is expensive to maintain, leaving the company at a competitive disadvantage.

Answer:

a. The self-driving vehicle industry is changing too much for the top-down approach to be effective.

Explanation:

The top-down approach is a model in which there is a hierarchical style and the decisions are made by the manager and then informed down the organizational chart and the lower levels have to accept the decisions. In this approach, people in the lower levels have low participation and influence on the decisions and as the firm's industry is changing too much, this people would posses crucial information and specialized knowledge that the top level might not have and because of that, this approach might not be effective. According to that, the answer is that this scenario is wrong because the self-driving vehicle industry is changing too much for the top-down approach to be effective.

3 0
4 years ago
Nordstrom sells designer suits made in italy in its stores in the united states. nordstrom is ____ suits. a. importing b. taxing
erica [24]

Importing

What is Importing?
An import is an item or service that is purchased outside of its nation of origin. International trade is made up of imports and exports. A country has a negative trade balance, or a trade deficit, if the value of its imports exceeds the value of its exports. Since 1975, the US has had a trade imbalance. The U.S. Census Bureau estimates that in 2019, the deficit was $576.86 billion.

To learn more about Importing
brainly.com/question/24473707
#SPJ4

8 0
1 year ago
In order to have a high confidence level in a customer survey, what should the sample size accurately reflect?
Damm [24]

In order to have a high confidence level in a customer survey, the sample size accurately reflects the entire population.

A discrete collection of entities with identifiable characteristics, such as humans or animals, for the purposes of analysis and data collection is called a population. It consists of a group of similar species that can inhabit a specific geographical location and interbreed.

A group of people, things, events, organizations, etc. Use populations to draw conclusions. Figure 1: Population. An example of a population is the entire student body of a school. Includes all students studying at the school when the data was collected.

Learn more about population here:brainly.com/question/1437549
#SPJ4

7 0
2 years ago
Economic capital is productive, so it does not include______? money buildings & equipment tools
katrin2010 [14]
Economic capital is productive, so it does not include Money.Economic capital is the amount of risk capital held by a financial services company to enable it to survive any difficulties such as market or credit risks. Money is used to purchase various factors such as raw materials, machinery, labor which help in the production of goods, but money itself does not directly help in the production of goods. The real capital consists of machinery, buildings, tools, factories, tractors, etc, which directly assist in the production of goods
7 0
3 years ago
AutomatedFry Inc. is the leading manufacturer of ventless deep fryers. It has developed a new high-capacity fryer. To identify t
Tems11 [23]

Answer:

Lead generation.

Explanation:

Selling process can be defined as the steps which must be taken by a sales representative when selling a particular product. The selling process begins with identification of potential customers that are willing to purchase the product.

Lead generation is the process of getting customers to buy a product, It involves creating an awareness of the product. This is the initial stage of a selling process.

Lead generation begins with identifying the group of customers to sell to, marketing your products through different mediums, maintaining constant communication with the customers.

4 0
3 years ago
Other questions:
  • Verizon's implementation of a Web-based digital dashboard to provide managers with real-time information, such as customer compl
    11·1 answer
  • Please help!!!!
    12·1 answer
  • When a certain competitive firm produces and sells 100 units of output, marginal revenue is $80. when the same firm produces and
    10·1 answer
  • When bic introduced disposable​ razors, the product and market met several criteria for using​ ________ pricing. the market was
    7·1 answer
  • What is a good solution for Pedro if he cannot afford to buy a home in Austin, but still wants to live there, when he starts his
    6·1 answer
  • The law of comparative advantage explains why a nation will benefit from trade when
    6·1 answer
  • Osage Corporation issued 3,350 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit acco
    13·1 answer
  • Identify which of the following opening adjusting entries should be used when setting up in QuickBooks an existing company with
    9·1 answer
  • The marginal revenue product schedule is: * 1 point A) the same whether the firm is selling in a purely competitive or imperfect
    11·1 answer
  • Which inventory report best shows non- turning items?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!