Answer:
A) $ 1,440 deduction
B) $1,056 deduction
C) not allowed
Explanation:
IMPORTANT:
As 2020 student loan became interest-free according to Trump administration and extended by Joe Biden up to September 2021
<u>We are going to work the numbers with 2019 values.</u> Which is the closest year one could claim this deduction.
Below AGI of 70,000 we can have a full deduction.
so A) will be a $ 1,440 deduction
Between 70,000 and 85,000 we have a partial deduction.
so we do:
This is the fraction we are disallowed to deduct.
We take our interest expense and multiply by 1 less this amount:
And that is the deduction we can make.
C) as the tax benefit phase-out above $85,000 AGI if Lionel's AGI is $90,000 there is no possible tax deduction
Answer:
$11,666.67
Explanation:
Data given in the question
Allocated purchase price to a patent = $300,000
Patent expiring period = 20 years
According to the section 197 , Legal life of the patent = 15 years
Since the legal life of the patent is 15 years so it would be amortized in 15 years itself
Now the amortization expense is
= $300,000 ÷ 15 years
= $20,000
Now the total amount for 7 months is
= $20,000 ÷ 12 months × 7 months
= $11,666.67
Prior to the studies of Hawthorne, it has been studied that
the managers had pay little attention of the role in human behavior when it
comes to making decisions because they are likely focus more about their line
of work and the progress rather than having to use their own behavior as a
human and whether which are acceptable and not.
What are the answer choices
Answer:
GDP is less than their GNP
Explanation:
Based on the information provided within the question it is safe to say that the countries GDP is less than their GNP. This is because GNP refers to the value of all the goods and services produced by the citizens of the country regardless where the goods or services are being sold, while the GDP only refers to all production inside of a country including foreign countries products.