The three main sources of federal tax revenue are individual income taxes, payroll taxes, and corporate income taxes. Other sources of tax revenue include excise taxes, the estate tax, and other taxes and fees.
Answer:
$102,000
Explanation:
According to 26 US code Section 704(c) - Partner's distributive share :
Taxable gain to be recognized from sale = Sale value - ( Partner's share * Fair market value )
Brooke contributed the land, the gain realized before the land was contributed = $120,000 - $90,000 will be allocated entirely to her. She will also be allocated 40% of the gain after the contribution was made = ($150,000 - $120,000) x 40% = $30,000 x 40% = $12,000.
So the total gain recognized by Brooke will be $90,000 + $12,000 = $102,000.
Partnerships are pass through entities, the partners are taxed, not the partnership itself.
Answer:
Personal
Explanation:
Personal related currencies refers to the currencies that deals with the insipitration and the morality, vision, strength. It basically shows the needs of the person nd the value that actually what person could do
Since in the question it is mentioned that the if the tasks are shared that rise the skills and ablities of the person than this would represent the personal related currencies and hence the same is to be considered
Answer:
$570,000
Explanation:
Missing question: <em>"On December 31, 2022,50,000 SARs are exercised by executives. What amount of compensation expense should Korsak recognize for the year ended December 31, 2020"</em>
Amount of compensation expense = [(33-20)*120,000*3/4] - [(30-20)*120,000*2/4]
Amount of compensation expense = [13*120,000*3/4] - [10*120,000*2/4]
Amount of compensation expense = 1,170,000 - 600,000
Amount of compensation expense = $570,000
So. the amount of compensation expense that Korsak should recognize for the year ended December 31, 2020 is $570,000.
Answer:
10.52 years
Explanation:
We can work out the number of years using this relationship
V =P× (1+r)^n
V= tribe valeu = 3×3.5 = 10.5
r-growth rate -11%
n- number of years- ?
10.5 = 3.5× (1.11)^n
<em>dividing both sides by 1.11^n</em>
1.11^n = 10.5/3.5
<em>taking the log of both sides</em>
n log 1.11 = log 3
n = log 3/log 1.11
n =10.52
