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xz_007 [3.2K]
3 years ago
11

Dan is a single, self-employed carpenter who earned $120,000 this past year in self-employment income. Dan paid the following ex

penses this year. Which of the expenses are deductible for AGI.
1. The cost of health insurance.

2. The employer portion of self-employment tax paid

3. Penalty on early withdrawal of funds from a certificate of deposit

A.
All of the choices are deductible for AGI.

B.
Numbers 1 and 2 only.

C.
Numbers 2 and 3 only.

D.
None of the choices is deductible for AGI.

E.
Numbers 1 and 3 only.
Business
1 answer:
GalinKa [24]3 years ago
4 0

Answer:

The correct answer is A)

All choices are deductible for Adjusted Gross Income (AGI)

Explanation:

Other items which are deductible "above the line" are:

  1. Contributions to a Retirement Account
  2. Alimonies (excludes child support)
  3. deductions from health savings account

etc

Cheers!

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"Which type of report would help the company study available options and how should it be organized?"
oksian1 [2.3K]

a yardstick report would be used. it would be organized indirectly, describing the problem, explaining alternatives, establishing criteria for comparison, evaluating each alternative in terms of the criteria, and making recommendations.

6 0
3 years ago
1. The interest tax shield (tax deductibility of interest) is a key reason why: the required rate of return on assets rises when
Ivanshal [37]

Answer:

the net cost of debt to a firm is generally less than the cost of equity.

Explanation:

If we assume both, investor in firms and lender to firms want's a certain return x

because the lender return (the interest) are tax deductible the net cost of debt will be:  x ( 1 - t)

where t is the tax rate being rate beteen 0 and 1

as 1 less a fraction will be less than 1 we can stablish that:

x > x(1 - t)

x is the cost of equity

while x(1-t) is the net cost of debt

therefore, the cost of debt is lower than cost of equity.

7 0
3 years ago
Year 1 total cash dividends $ 20,000
velikii [3]

Answer:

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Explanation:

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6 0
2 years ago
1-a. how much will net operating income increase (decrease) per month if the monthly advertising budget increases by $8,100 and
diamong [38]

Net operating income will increase/decrease per month if the monthly advertising budget increases by $8,100 and monthly sales increase by $14,400, the net operating income will decrease by $(1620)

Net operating income determines the revenue and profitability of invested actual property assets after subtracting essential operating fees. The system works by using succinctly considering all profits a property makes minus all of the general prices. for instance, a assets might also earn money from tenant rents and a coin laundry system.

To calculate net operating income increase/decrease follow the following steps:

First, calculate the current net operating income

Sales = ( 80*2500 ) = $200000

Variable expenses = (44 * 2500) = $110000

Contribution margin = 90000

Fixed expenses = 76000

Net operating income ( 90000 - 76000 ) = 14,000

Now, calculate the proposed net operating income

Sales = ( 200000 + 14400 ) = $214400

Variable expenses = ( 214400 * 55% ) = $117920

Contribution margin = 96480

Fixed expenses = ( 76000 + 8100) = 84100

Net operating income ( 96480 - 84100 ) = 12380

Therefore net operating income decreased by ( 14000 - 12380 ) = $(1620)

Net operating income measures an income-producing asset's profitability before including any prices from financing or tax. To calculate Net operating income, subtract all running prices incurred on a property from all sales generated at the belongings.

Learn more about tax here brainly.com/question/26316390

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8 0
1 year ago
Marketability is the ability of an investor A)to sell a security quickly, at a low transaction cost, and at a price close to its
insens350 [35]

Answer:

to sell a security quickly, at a low transaction cost, and at a price close to its fair market value.

Explanation:

Marketability can be described as a measure of the rate at which a particular product will be purchased by potential customers. Marketability helps to evaluate the value of the product in the market.

Marketability helps marketing managers to determine if customers will be willing to purchase their products in the market. It helps them to know at what price a particular product can be sold to maximise profit. The quality of a product determined how well It will appeal to potential customers.

7 0
3 years ago
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