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xz_007 [3.2K]
4 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]4 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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Joetz Corporation has gathered the following data on a proposed investment project (Ignore income taxes.): Investment required i
dimulka [17.4K]

Answer:

16.7%

Explanation:

The simple rate of return is the annual net income divided by the initial investment in the proposed investment project.

The annual net income is the annual cash flow of $8,400 minus annual depreciation charge.

annual depreciation=cost -salvage value/useful life=($36,000-$0)/15=$2400

annual net income=$8,400-$2,400=$6000

simple rate of return =annual net income/initial investment

initial investment is $36,000

simple rate of return=$6,000/$36,000=16.7%

The second option,16,7% is the correct answer

8 0
4 years ago
Capital budgeting is: the process of finding the cost to start a new project. the process of deciding which project to do to inc
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Answer:

the process of deciding which project to do to increase the firm’s value.

Explanation:

Some of the Capital budgeting methods include:

1. internal rate of return- internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

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3. Net present value: net present value is the present value of after tax cash flows from an investment less the amount invested.

I hope my answer helps you

6 0
3 years ago
QUESTION 9 of 10: Which of the following is not part of the process of passion transference?
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Answer:

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Explanation:

Trust :)

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A negative credit report may impact an individual’s ability to receive all of the following EXCEPT?
Luba_88 [7]
The answer would be D. a traffic ticket
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4 years ago
A. what is the gdp per capita of longhornland in u.s. dollars? (express your answer rounded to one decimal place.)
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<span>GDP per capita = 18.8 millions US Dollars</span>

5 0
3 years ago
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