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Virty [35]
3 years ago
15

Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at

a local university and earns a salary of $68,000. Meg works part time at the same university. She earns $33,000 a year. The couple does not itemize deductions. Other than salary, the Comers’ only other source of income is from the disposition of various capital assets (mostly stocks). (Use the tax rate schedules, Dividends and Capital Gains Tax Rates.) (Round your final answers to the nearest whole dollar amount.) b. What is the Comers’ tax liability for 2020 if they report the following capital gains and losses for the year? Short-term capital gains $ 1,500 Short-term capital losses 0 Long-term capital gains 13,000 Long-term capital losses (10,000 )
Business
1 answer:
babunello [35]3 years ago
8 0

Answer:

$9,379

Explanation:

using the 2020 tax brackets:

the Comer's gross income = $68,000 + $33,000 + $1,500 = $102,500

taxable income = $102,500 - $24,800 (standard deduction for married couples) = $77,700

taxes owed = $1,975 + [12% x ($77,700 - $19,750)] = $8,929

capital gains = $13,000 - $10,000 = $3,000 x 15% capital gains tax rate = $450

total tax liability = $8,929 + $450 = $9,379

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erik [133]

i guess the correct answer is conciseness

Khalida is sending an e-mail message to a client. Before sending it, she wants to make sure that she has made her point in the fewest possible words.

Khalida is checking for conciseness.

4 0
3 years ago
Explain which of the 5 Management Functions is your strength and weakness? Planning, Organizing, Staffing, Implementing, and Org
Aleonysh [2.5K]
Planning is one of my strengths, but it does depend on ones ability to get things together, and be fast and com up with things in the spot , it is a powerful and important duty to uphold , but definitely one of my strengths

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4 0
3 years ago
What is ecotourism? Write a short essay that includes the following information:
Lady_Fox [76]

Explanation:

1. For me, ecotourism seeks to protect the natural resources that we have in the present so that future generations have the opportunity to take advantage of them, while promoting social, cultural and economic growth of the local population.  According to other definitions, ecotourism is an environmentally responsible tourist modality. Its purpose is to visit and enjoy relatively unalterable natural areas as well as any cultural manifestation of the present or past, with the active participation of local populations. Ecotourism includes educational and interpretive content and tries to reduce negative impacts on the natural and socio-cultural environment as much as possible.

-<u>The Ministry of Tourism in Mexico defines Ecotourism in the following way: </u>"they are the trips that have the purpose of carrying out recreational activities of appreciation and knowledge of nature through contact with it." From another perspective, it is a tourist product aimed at those tourists who enjoy natural history, and who want to actively support and participate in the conservation of the environment.

-<u>The environmentalist architect and international consultant of Mexican origin, Héctor Ceballos Lascuráin, popularized in 1993 when he was included in the book “Ecotourism. </u>The Potential and the Pitfalls ”:

"Ecotourism is an environmentally responsible tourist modality, consisting of traveling to or visiting natural areas relatively undisturbed in order to enjoy, appreciate and study the natural attractions (landscape, wild flora and fauna) of said areas, as well as any cultural manifestation ( of the present and the past) that can be found there, through a process that promotes conservation, has a low negative environmental and cultural impact and fosters an active and socioeconomically beneficial involvement of local populations. ”

Ecotourism aims to achieve the preservation and maintenance of  natural ecosystems; tourism plays its role as a supplier of oil  economic that directly benefits local residents. Community  will provide their knowledge and services to tourists and they will benefit  economically.

- Ecotourism provides jobs and income to the local population.

-Provide environmental education to tourists.

-Create funds for purchase and supplies for improvement and protection of  natural areas. This is beneficial to attract future tourism.

- Motivates the preservation of the environment and the creation of new  or larger national parks, biosphere reserve, preservation  of forests, recreation areas, beaches and natural attractions.

Third world countries are important recipients of ecotourism. In  Brazil nature trips have become one of the new and more  great markets of economic income of the country. In south-central Africa, the  Rwanda's ecotourism is the third largest source of resources  economic.

6 0
3 years ago
Suppose the rate of return on a 10-year T-bond is 4.05%, the expected average rate of inflation over the next 10 years is 2.0%,
Keith_Richards [23]

Answer:

1.15%.

Explanation:

This can be calculated as follows:

Yield be on a 10-year TIPS = Rate of return on the 10 year T-bond - Average Inflation - Market Risk Premium (MRP)

Therefore, we have:

Yield be on a 10-year TIPS = 4.05% - 2.0% - 0.9% = 1.15%

Therefore, the yield on a 10-year TIPS should be 1.15%.

6 0
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Board Company has a foreign subsidiary that began operations at the start of 2017 with assets of 134,000 kites (the local curren
Mama L [17]

Answer: Please refer to Explanation

Explanation:

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No entry required as contract not yet exercised

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DR Forward Contract (220,000*(0.67-0.66)) $2,200

CR Translation Adjustment $2,200

(To record change in value of forward contract )

31st December 2017

DR Foreign Currency (Kites) (220,000*0.66) $145,200

CR Cash $145,200

(To record purchase of foreign currency)

31st December 2017

DR Cash ( 145,200 + 2,200) $147,400

CR Foreign Currency (Kites) $145,200

CR Forward Contract $2,200

(To record delivery of foreign currency and forward contract execution)

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