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denis-greek [22]
3 years ago
8

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

Business
1 answer:
alexira [117]3 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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Mika has borrowed $5,000 from her cousin Jun and not repaid it. Now, Mika is selling her house to Jun’s nephew, Cheong. As Mika
hram777 [196]

Answer:

Jun's pressure and influence has invalidated Mika's consent.

Explanation:

By threatening Mika with prosecution if she doesn't set a discount for the sale of her house on the grounds of her debt to her, she has influenced Jun's consent or rather coerced it and therefore Mika's consent is invalidated in the agreement. Consent is free under law if contract and should be given under undue influence, duress or any other vitiating factor that will render the contract null and void such as the example above

3 0
3 years ago
When a company expands by entering new business areas, it is called growth through __________?
garri49 [273]
When a company expands by entering a new business area, it is called growth through diversification. 

Diversity is the means of being different, new, exciting.. something not like another. When a business enters something new, it's called diversification because it's not like what they've done before. With this comes risk but huge growth potential.
7 0
2 years ago
A local jacket distributor expects to sell 9,000 black fleece jackets in a year. Assume that EOQ model assumptions are valid. Ea
torisob [31]

Answer: $4,800

Explanation:

First find the Annual holding cost:

= Average inventory * Cost of holding a unit

= 500/2 * 1 * 12 months

= $3,000

Then find the Annual ordering cost:

= Expected units to be sold/ Units ordered * Ordering cost

= 9,000/500 * 100

= $1,800

Annual Inventory cost = Annual holding cost + Annual ordering cost

= 3,000 + 1,800

= $4,800

4 0
2 years ago
Magicia Multiplex Inc. charges its customers $2 for any movie before 12 p.m. on weekdays, and charges $6 for the same shows on w
Rainbow [258]

Answer:

The correct answer is C: off-peak pricing

Explanation:

Off-peak pricing is a way of stimulating demand by charging less than "normal" in periods of low demand. In this exercise, it changes the price differentiating by weekdays and time. It expects to attract costumers to days and hours of low demand. The opposite is Peak pricing which is a way of congestion pricing where customers pay an additional fee during periods of high demand.

6 0
3 years ago
During the year, Belyk Paving Co. had sales of $2,275,000. Cost of goods sold, administrative and selling expenses, and deprecia
ycow [4]

Answer:

a. -$210,000

b. $455,000

Explanation:

a. Company's net income

Sales. 2,275,000

Less:

Cost of goods sold

1,285,000

Administrative and selling expenses

535,000

Depreciation expense

420,000

EBIT

35,000

Less interest

245,000

Taxable income

-$210,000

Taxes 21%

Nil

Net income

-$210,000

b. The operating cash flow for the year

OCF = EBIT + depreciation - taxes

OCF = 35,000 + 420,000 - 0

OCF = $455,000

c. Net income was negative due to the deductibility of interest expense and depreciation.

The actual operating cash flow was positive due to the fact that depreciation is a non cash expense, and also interest is a financing and not an operating expense.

5 0
3 years ago
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