Answer:
the inflation rate was 8 percent and the nominal interest rate was 11 percent
Explanation:
Nominal interest rate is the rate without considering the inflation.
The awnser is A.)
I have done research and all ive seen is to get the court to file bankruptcy
Answer:
a. "Not deductible"
b. "Not deductible"
c. "Not deductible"
d. "Deductible"
e. "Not deductible"
f. "Not deductible"
Explanation:
Expenses to be deductible ( especially for tax purposes) must pass the WREN test where;
W stands for wholly
R stands for reasonably
E stands for exclusively
N stands for necessarily
Looking at the expenses incurred and paid for by Doug during the year, the $50 ticket for running a red light is not a necessary expense as an adherence to traffic signs would have prevented such an expense. it can also be said that the expense was not reasonably incurred. This also applies to options b and c. Parking at the handicapped space is completely avoidable (necessity test) and as such the $100 would not have been incurred. While the $200 paid to the attorney for representation in court is an offshoot of options a and b. This would not have been incurred if the first two incidences were avoided.
Option c is deductible as the $500 paid is wholly for the business, reasonable, exclusive and necessary. As such, the expense is deductible or allowable. Options e and f are not related to business and are incurred on personal grounds which are avoidable hence, these expenses would not pass the WREN test.
The correct option is A.
Both paying with a check and paying with a debit card is accepted by most business as means of payment. The two methods allows you to draw money from your account to settle your funds needs.
Although, both means can be used to pay for purchases, there are some basic differences between the two method. For instance, a PIN is needed for you to utilize your debit card, but check does not required this. Also, an overdraft check can be drawn from a bank, but with debit card, you can only spend the money you have in your account.
Answer:
$775
Explanation:
Calculation for Amy's tax basis in the stock received in the exchange
Using this formula
Tax basis in the Stock received Exchange = Tax basis - Liability on property transferred
Let plug in the formula
Tax basis in the Stock received Exchange=$970-$195
Tax basis in the Stock received Exchange = $775
Therefore Amy's TAX BASIS in the stock received in the exchange will be $775
