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3 years ago

What are tax credits?

Business

1 answer:

stepladder [879]3 years ago

7 0

Answer: Refundable Tax Credit

Explanation:

When a tax credit is able to reduce your tax liability to below zero and then the remainder is returned to you, that is a Refundable Tax Credit. For Instance, if you get a Refundable tax credit from the IRS of $300 and your Tax Liability is $250 then not only do you not have to pay the liability but the IRS will give you $50 which is the remainder after the tax credit reduced the liability to $0.

If you have $0 in Liability, you can still apply for a Refundable Tax Credit which means that you will be paid the whole thing.

Some people therefore first calculate their taxes and then remove the deductions and apply for Non-refundable tax credits and then when their liability is at the lowest, they apply for a Refundable Tax Credit which then means that they can stand a chance to get something from the IRS.

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You are trying to listen to instructions your boss is giving you about a new method for keeping expense accounts. But you find i

alexandr402 [8]

Answer:

Psychological barrier

Explanation:

The type of barrier that you are experiencing is psychological. Psychological barriers result when your personal values are not aligned with the message being received, be it by cultural or ethical values or even by preconceived thoughts. In this situation, since you do not agree with the task at hand of changing the method for keeping the accounts, you find it difficult to focus on the task.

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3 years ago

Read 2 more answers

The amount of the outstanding checks is included on the bank reconciliation as a(n) deduction from the balance per company's rec

Sphinxa [80]

Answer:

D) deduction from the balance per bank statement

Explanation:

A bank reconciliation statement is a document that matches the cash balance on a company’s balance sheet to the corresponding amount on its bank statement. Reconciling the two accounts helps determine if accounting changes are needed. Bank reconciliations are completed at regular intervals to ensure that the company’s cash records are correct. They also help detect fraud and any cash manipulations.

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3 years ago

After you send in your FAFSA form, what will you receive back

goldenfox [79]

<span>After you submit the Free Application for Federal Student Aid (FAFSA), you will be sent a Student Aid Report (SAR). If they have a valid e-mail address on file for you, they will send you an e-mail, within 3 to 5 days, with instructions on how to access an online copy of your SAR.</span>

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3 years ago

Which of the following costs is a mixed cost?

koban [17]

Answer:

3. Rental costs of $5,000 per month plus $.30 per machine hour of use

Explanation:

Mixed cost is the one which has both the factors, variable and fixed.

Sometimes, the segregation is also difficult, when the total cost is given.

In the chosen option also, there is a fixed cost involved that is monthly expense of $5,000.

Further for each hour of machine used the cost increases and is $0.30 per hour.

That is variable as the total will depend upon the number of hours the machine is used.

All the other three are either completely fixed like salary, and depreciation, or either completely variable like electricity cost.

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3 years ago

Pine Corp. produces three products, and currently has a shortage of machine hours since one of its two machines is down. The sel

yulyashka [42]

Answer:

product B

Explanation:

The computation is shown below;

<u>Particulars Product A Product B Product C </u>

Selling Price $5.00 $3.00 $5.00

Less: Variable cost per unit ($3.50) ($2.00) ($2.00)

Contribution per unit $1.50 $1.00 $3.00

Machine hours per unit 0.75 0.25 1

Contribution per machine hour $2.00 $4.00 $3.00

($1.50 ÷ 0.75) ($1.00 ÷ 0.25) ($3.00 ÷ 1)

The product B should be produced as it has the highest contribution per machine hour

6 0

3 years ago