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velikii [3]
3 years ago
15

Problem 13-46 (LO. 6) In 2018, Maria records self-employed earnings of $135,000. Using the format illustrated in the text, compu

te Maria's self-employment tax liability and the allowable income tax deduction for the self-employment tax paid. Do not round intermediate computations. Round your final answers to the dollar. Maria's self-employment tax liability is $ , and the allowable income tax deduction for the self-employment tax paid is $ 9,154 .
Business
1 answer:
kifflom [539]3 years ago
3 0

Answer:

Payable tax 9.154, equal to the tax deduction 9,154

Explanation:

Net earnings from self-employment is $135.000

Multiply earnings by 92.3%

= 135.000 * 0.9235

= 124.672,5

If the amount after multiplication is in excess of $118.500, in such case the excess of amount over 118.500 should be multiplied by 2.9%

= 124.672,5 > 118.500

The difference between both amounts is 179.

Add: to the above amount tax on social security portion and medicare portion 15.3%$ on 118.500 which is the ceiling limit.

118.500 * 15.3%

=18.130.5 + 179

=18309.5

Therefore, the tax is 18309.5

Deduction of 50% on the tax can be claimed

Therefore, deduction is 9.154.

Thus, the tax payer can be benefited from the self-assessment tax deduction.

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Omega Custom Cabinets produces and sells custom bathroom vanities. The firm has determined that if it hires 10 workers, it can p
adell [148]

Answer:the correct answer is A. For the 11th worker, the marginal profit is $600.

Explanation:

10 men             20  vanities per week

11   men            22 vanities per week

1 man more       2 vanities more

If the company uses 1 man more produces 2 vanities more, so the company spends $1000 on the extra man and makes 2*$800= $1,600 (for two extra vanities). For the 11th worker, the marginal profit is = $1600-$1000= $600

6 0
3 years ago
Which of the following statements best describes a difference between HR
Rainbow [258]

The option that best describes the difference between HR planning and a staffing plan is this:

B. Unlike HR planning, a staffing plan identifies only the company's present hiring needs.

<h3>What is the difference between HR planning and staffing?</h3>

The difference between the two mentioned concepts lies in the fact that HR planning is a long-term plan that is aimed at trying to understand how the staffing needs of the company can be improved for better success.

Unlike HR planning, a staffing plan is aimed at identifying the immediate employment needs of the company and filling them up. In businesses, HR planning is very vital to building sustainability. Staffing is also important but it only considers the interim.

So, the difference between these two concepts can be pinned down to the time factor. While one satisfies a need immediately, the other looks at the future and makes reasonable plans that ensure sustainability.

Learn more about HR planning here:

brainly.com/question/13761208

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8 0
2 years ago
Resources are:
MariettaO [177]

Answer:

b.Scarce for households and scarce for economies

Explanation:

  • A resource is a source of supply form which benefit is produced and has some utility and is broadly classified in there availability. The resources are those that are scare in terms of the households and the economies and depends on the availability of the factors.
4 0
3 years ago
An entrepreneur founded his company using $200,000 of his own money, issuing himself 200,000 shares of stock. An angel investor
nikitadnepr [17]

Answer:

the post money valuation of the company is $1,750,000

Explanation:

The computation of the post money valuation is shown below:

Given that

Value of 400,000 shares is  $1 million.

So,

The Value of 1 share is

= $1 million ÷ 400,000

= $2.5

And,  

Total number of shares is

= 400,000 + 200,000 + 100,000

= 700,000

Now  

Total value of shares is

= $2.5 × 700,000

= $1,750,000

hence, the post money valuation of the company is $1,750,000

6 0
3 years ago
The following information is provided for Slickers, Inc. for year 2016: • Preferred stock, 5%, $20 par value, 1,500 shares issue
gayaneshka [121]

Answer:

The amount of dividends paid to common stockholders in 2016 is $4000

Explanation:

The cumulative preferred shares are the shares that accumulate dividends in case the dividends on these shares are not paid or paid partially in a year. The accumulated dividends will need to be paid first whenever the company declares dividends.

The amounts of dividends on preferred share for one year is,

Dividends - Preferred shares = 20 * 0.05 * 1500  =  $1500

Thus, the accumulated dividends on these preferred shares at start of 2016 is,

Accumulated dividends - Preferred shares = 1500 * 3 = $4500

The common shares holders are paid after the preferred share holders have been paid. This means that we will deduct the amount of accumulated dividends on preferred shares and the dividends for this year on preferred shares from the total dividends to calculate the amount to be paid to common share holders as dividends.

Common stock dividends =  10000 - (4500 + 1500)   = $4000

3 0
3 years ago
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