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2 years ago

Why might you complete a 1040 instead of a 1040ez? everfi?

2 answers:

6 0

In general, if you have more types of deductions on your tax, the 1040 forms maybe more appropriate for you because it provide you with various options to claim deductions or credit.
The 1040Ez on the other hand only offer a simple format that only beneficial for taxpayers who made certain conditions.

Dmitry_Shevchenko [17]2 years ago

5 0

Self-employed individual cannot file federal tax using 1040EZ. They have to use form 1040.

Further Explanation:

Form 1040EZ:

This form is filled by the individuals in order to file their federal tax return. It is used when the individual does not plan to claim any deduction and credits. It is the easiest form out of the three forms (1040, 1040A and 20140EZ). Form 1040EZ will allow help you in taking the standard deduction but it will not help in taking the deduction item wise.

Form 1040:

This form is filled by the individuals that have high level of earnings and complex forms of income. This form is filled to claim the deduction and credits. It is the most complex form out of the three forms.

Difference between form 1040 and 1040EZ:

Following are the difference between form 1040 and 1040EZ:

1040EZ is used when the taxable income is less than $100,000 and 1040 is used when the taxable income is more than $100,000.
1040 is used to claim the deductions and credits. 1040EZ cannot be used to claim the deductions and credits.
Self-employed individual cannot file federal tax using 1040EZ. They have to use form 1040.
1040 is used to file the income earned from the sale of the property. 1040EZ cannot be used for that purpose.

Learn more:

1. Learn more about the capital gain tax

brainly.com/question/2617534

2. Learn more about the state income tax

brainly.com/question/2996312

3. Learn more about the personal tax

brainly.com/question/1762937

Answer details:

Grade: Senior School

Subject: Taxation

Chapter: Income Tax

Keywords:Complete, 1040, instead, 1040EZ, income tax, personal tax, filling the return.s

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Theodosia was laid off from her last job. What should she put on her next application as her reason for leaving that job?

OleMash [197]

Answer:

O Downsizing

Explanation:

A lay off happens when the employer has closed down, has changed locations, or when there is not sufficient work for all the employees. A layoff is not caused by an employee's fault.

Downsizing refers to scaling down of operation. When a company downsizes, some of the employees will be laid off. Theodosia should mention she was laid off in her next application. The potential employer will realize that she wasn't at fault at her previous workplace.

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3 years ago

Identify the risks exist in the conversion cycle of Central Production Limited.

11111nata11111 [884]

Answer:

Authorization of transactions:- Because of unclear subjugation, there is a potential risk of entering a money transfer again and again. To minimize this, all workers should adopt the rules for specific purchases, such as maintaining a set pricing list and guarantee a limited error distance.

Explanation:

The following are the risks which currently exist in the Central Production Limited conversion cycle:-

Lack of a "Maker and Checker" concept:- It is important because it executes the role of a sort account executive to check that the instructions and demands presented are correct and are not replicated. It would be extremely effective that someone in a position of power and authority might supervise certain rates and with certain operations.

Use of Hard-copies:- The production center supervisor will temporarily suspend the use of such hard copies for each production process. It is not only a resource loss, but risks being lost or duplicated as well. It really would give them a better chance if all online requests could be collected which would be far more effective and could be seen by all stakeholders. It will also lead to better leadership and faster distribution of information.

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3 years ago

Sylvia's annual salary increases from $102,300 to $109,500. Sylvia decides to increase the number of vacations she takes from th

Vinvika [58]

Answer:

4.20 and normal good

Explanation:

The computation of the income elasticity of demand is shown below:

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in income ÷ average of quantity income)

where,

Change in income would be

= Q2 - Q1

= 109,500 - 102,300

= 7,200

And, average of income would be

= (109,500 + 102,300) ÷ 2

= 105,900

Change in quantity demanded would be

= 4 - 3

= 1

And, average of quantity demanded would be

= ($4 + 3) ÷ 2

= 3.5

So, after solving this, the income elasticity of demand is 4.20

Since the elasticity comes in positive which means the good is a normal goods

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3 years ago

On December 31, 2019, Spearmint, Inc., issued $450,000 of 9 percent, 3-year bonds for cash of $461,795. After recording the rela

cluponka [151]

Answer:

Interest expense 18,284.17 debit

Premium on BP 1,965.83 debit

Cash 20,250 credit

Explanation:

procceds 461,795

face value 450,000

premium on bonds payable 11,795

As the cash received exceed the face value then, the bonds were isued at premium.

This will be amortized over the bonds life

3-year bonds with semiannual payment: 6 payment in total

amortization per payment:

11,795 / 6 = 1.965,83

The will post:

the cash disbursement in favor of the bondholder:

450,000 x 9%/2 = 20,250

amortization (1,965.83)

interest expense: 18.284,17‬

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3 years ago

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What activities can a person participate in to be considered actively looking for a job?

zubka84 [21]

job postings. Sending resumes and doing interviews

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