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2 years ago

If you cannot make a tax payment in full, what is the BEST next step to take?

Business

1 answer:

alexira [117]2 years ago

8 0

Answer:

Contact the IRS to see if there is a payment plan that works for you.

Explanation:

In a situation where someone determines that they cannot pay the tax liability, it is advisable to still file the tax return by the stipulated deadline. Additionally, contact the Internal Revenue Services(IRS) and explain your situation; they most likely have other payment plans that would work for you. Ignoring the tax bill and hoping that IRS will overlook it can lead to penalty; this might be very costly.

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Belinda is in charge of both accounting and investments and all of the employees involved with these functions at her firm. Beli

Andrej [43]

Belinda is in charge of both accounting and investments and all of the employees involved with these functions at her firm. Belinda is "Financial Manager".

<h3>Who is financial manager?</h3>

Financial manager examine financial information compiled by accountants, keep track of the company's financial situation, and create and carry out financial strategies.

The roles of financial manager are-

creating reliable financial information and reports
cash flow statements being created
estimating a profit
controlling credit
giving guidance on financial decision-making
investing guidance
generating financial projections
Budgeting

Therefore, one of the most crucial duties of business owners and managers is financial management.

To know more about accounting, here

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3 0

1 year ago

The income statement of Whitlock Company is presented here.

bazaltina [42]

Answer:

$1,146,800

Explanation:

Preparation for the operating activities section of the statement of cash flows for the year ended November 30, 2020

WHITLOCK COMPANY

Partial Statement of Cash FlowsFor the Year Ended November 30, 2020

Cash flows from operating activities

Net income $1,366,800

Adjustments to reconcile net income to net cash provided by operating activities..

Activities

Depreciation expense $70,000

Decrease in inventory $500,000

Decrease in accrued expenses payable ($100,000)

Increase in prepaid expenses ($150,000)

Increase in accounts receivable ($200,000)

Decrease in accounts payable($340,000)($220,000)

Net cash provided by operatingActivities $1,146,800

($1,366,800-$220,000)

Therefore the operating activities section of the statement of cash flows for the year ended November 30, 2020 is $1,146,800

3 0

3 years ago

Executive interview have essentially the same advantages and disadvantages as _____. mall intercept interviews clt interviews ma

MrMuchimi

The correct option is in-home interviews.
Executive interview have essentially the same advantages and disadvantages as in-home interviews.
In-home interviews are comprehensive sessions which join perception and meetings to produce profound logical comprehension.

4 0

3 years ago

"_____ are groups of concerned citizens who band together to try to influence the business practices of specific industries, bus

Nastasia [14]

Advocacy groups are groups of concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions.

Explanation:

Advocacy groups are important components of consumer rights in the capitalistic market and are essential for maintaining good business practices in the capitalistic society where competition can take a hold over the moral situation that should in a sense dominate.

The advocacy groups that work this way are the ones who are a group of concerned citizens who band together to try to influence the business practices of specific industries, businesses, and professions. This is important for consumer rights for this sector to be strong.

5 0

2 years ago

What is the maximum amount a firm should pay for a project that will return $15,000 annually for 5 years if the opportunity cost

vampirchik [111]

Answer:

The firm should pay $46907.57 for the given project.

Explanation:

Given information:

Return = $15000 annually

Time = 5 years

Opportunity cost = 18%

The formula for payment is