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labwork [276]
3 years ago
6

Brady recently graduated from SUNY–New Paltz with his bachelor’s degree. He works for Makarov & Company CPAs. The firm pays

his tuition ($10,000 per year) for him so that he can receive his Master of Science in Taxation, which will qualify him to sit for the CPA exam. How much of the $10,000 tuition benefit does Brady need to include in gross income?
Business
2 answers:
klemol [59]3 years ago
4 0

Answer:$4,750

Explanation:

Taxable amount is given as  = Tuition benefits - Excludable amount

where,

Tuition fees benefits by company  = $10,000

Employer Tuition Assistance = $5,250 exclusion from income per student Tuition for oneself  (Employee) based on  graduate or doctoral classes  taxed on the dollar amount over and above the first $5,250.00 of tuition benefits paid per calendar year.  (source https://www.irs.gov/newsroom/tax-benefits-for-education-information-center)

therefore, Taxable amount = $10000-$5250

Taxable amount = $ 4750

Brady need to include$ 4750 in gross income.

GalinKa [24]3 years ago
4 0

Answer:

Mr. Brady can embrace $4,750 as Education Benefits

Explanation:

As per the Section 127(a)(2), any taxpayer can eliminate up to $5.250 of education aids from his/her yearly revenue.

Taxable amount = Education aids - Excludable expanse

Taxable amount = $10,000 - $5,250

Taxable amount = $4,750

Therefore, Mr. Brady can embrace $4,750 from his revenue as education benefits.

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3 years ago
One year ago, you purchased a stock at a price of $43.20 per share. The stock pays quarterly dividends of $.18 per share. Today,
gizmo_the_mogwai [7]

Answer:

Capital gain = $2.16

Explanation:

The return on equity is the sum of the dividends earned and capital gains made during the holding period of the investment.  

Dividend is the proportion of the profit made by a company which is paid to shareholders.  

Capital gains is another type of the return made on an equity investment as a result of increase in the value of the shares. It is difference between the cost of the share and the value at the time of disposal.  

Therefore, capital gain  as follows:  

Capital gain = $45.36-43.20

Capital gain = $2.16

8 0
3 years ago
A linear production possibilities curve indicates which of the following?
lilavasa [31]

Answer:

I think ur answers are A, B, and C.

Explanation:

Hope this helps!

6 0
2 years ago
Junkman Autos uses a separate checking account to pay their employees. The gross pay for the period was $1,000. However, after d
STALIN [3.7K]

Answer:

journal entry are given below

Explanation:

given data

gross pay for the period = $1,000

net pay for the period =  $820

to find out

journal entry to record the issuance of payroll checks

solution

journal entry are as

Account Name                       Debit                      Credit

Labor Expenses                        $1000

payroll taxes Payable                                                  $820

Net Payroll Payable                                                     $180

( $1000 - $820 )

6 0
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diamong [38]

Answer:

The correct answer is option B,the business portfolio is the one that best fits the company's strengths and weaknesses to opportunities in the environment.

Explanation:

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The best a company can offer its customers in terms of products and services is that combination that maximizes it strengths and opportunities while also minimizing its weaknesses and threats.

8 0
3 years ago
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