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3 years ago

11

Which of the following taxes is not deductible as an itemized deduction?a. Property tax on second residenceb. Sales tax in a sta

te with no income taxc. Federal income taxd. State income tax

1 answer:

Rudiy273 years ago

3 0

Answer:

<u>b. Sales tax in a state with no income tax</u>

Explanation:

Under the laws of the united states, itemized deductions are eligible expenses that an individual taxpayer can claim on federal income if available.

Based on there taxable incomes the taxes can be deduced and the sales taxes with no income tax do not come under the deductible tax.

The list of expenses can also be itemized by there are limited to the tax year.

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Groupware provides computer-mediated communication systems, allowing different viewpoints and ideas to be compared and discussed

melomori [17]

Answer: True

Explanation:

Groupware is a set of programs that makes it possible for people to work together on a common course even though they are at different locations from each other. In this way, they can work together remotely.

Computer programs that makes work collaboration to be possible real time are known as synchronous groupware.

Groupware provides computer-mediated communication systems, allowing different viewpoints and ideas to be compared and discussed in real time.

6 0

3 years ago

D.v.g. (a minor) was injured in a one-car auto accident in hoover, alabama. the vehicle was covered by an insurance policy issue

diamong [38]

Answer:

Yes, the court ruled in favor of D.V.G.'s mother, because of the principle that contracts entered by minors are not void, but voidable, and that they do have an effect on the parties, but if voided, they cannot be enforced.

In this case, the minor died before the contract was ratified by the court, but the minor hadn't voided the contract, so it was still good at the moment of his death. The minor had the chance of either approving or rejecting the contract while still living, and decided not to revoke it.

Explanation:

NATIONWIDE MUTUAL INSURANCE COMPANY and State Farm Mutual Automobile Insurance Company v. Barbara Walker WOOD, as administratrix of the estate of D.V.G., a minor, deceased, and K.C.T., a minor, by and through Earnest T., his father and next friend. 1111486. Decided: February 22, 2013

As this Court has stated, <em>“ ‘[i]t is well settled by the authorities that infants are not liable on any of their contracts, except for necessaries. With the exception, all other contracts of infants, whether executory or executed, may be avoided or ratified at the election of the infant.’ ”</em>

The final ruling was:

<em>"Under Alabama law, an insurance company is bound to a settlement agreement negotiated on behalf of an injured minor, even if that minor dies before the scheduling of the court hearing that all parties agreed was necessary to obtain approval of the settlement agreement. In accordance with the parties' understanding, such a hearing is still required, and the minor's death does not render that hearing impossible. We thus answer in the affirmative the question certified to this Court."</em>

6 0

3 years ago

The process of preventing exceptions from causing runtime errors is called

Molodets [167]

The process of preventing exceptions from causing runtime errors is called exception handling.
This type of handling deals with exceptions in particular, which are all anomalies that will prevent the computer from doing its usual job. So those exceptions will be handled even before they get the chance to cause errors which will disturb the operations that the computer is carrying out.

4 0

4 years ago

Which of the following is true?

Sloan [31]

d if work is for school you mau

6 0

3 years ago

Read 2 more answers

An investment costs $152,000 and has projected cash inflows of $71,800, $86,900, and −$11,200 for Years 1 to 3, respectively. If

Radda [10]

Answer:

No; The IRR is less than the required return.

Explanation:

Calculation of IRR is given by the formula: Lr x NPVL / NPVL - NPVH x (Hr - Lr)

where

Lr = Lower rate of discount

Hr = Higher rate of discount

NPVH = NPV at Higher discount rate

NPVL = NPV at Lower discount rate

Assume a low discount rate of 1% and a high rate of 20%

<u>NPV at 1%</u>

<u>Particulars Year 0 Year 1 Year 2 Year 3</u>

Cash flows 152,000 71,800 86,900 (11,200)

DCF 1% 1 0.99 0.98 0.97

Present values (152,000) 71,082 85,162 (10,864)

NPV = $6,620

<u />

<u>NPV at 20%</u>

<u>Particulars Year 0 Year 1 Year 2 Year 3</u>

Cash flows 152,000 71,800 86,900 (11,200)

DCF 20% 1 0.83 0.69 0.58

Present values (152,000) 59,594 59,961 (6,496)

NPV = ($38,941)

Substituting values in the IRR formula we have:

1% x [($6,620 / ($6620 - (38,941))] x (20% - 1%) = 2.06%

Therefore we reject the project because it gives an IRR lower than the required rate of return of 15.5%

8 0

3 years ago