1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
oee [108]
3 years ago
15

Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at

a local university and earns a salary of $64,200. Meg works part-time at the same university. She earns $33,500 a year. The couple does not itemize deductions. Other than salary, the Comers’ only other source of income is from the disposition of various capital assets (mostly stocks). (Use the tax rate schedules,Dividends and Capital Gains Tax Rates.) (Round your final answers to the nearest whole dollar amount.)
Required:
What is the Comers’ tax liability for 2019 if they report the following capital gains and losses for the year?

Short-term capital gains $1,500
Short-term capital losses 0
Long-term capital gains 13,200
Long-term capital losses 10,100
Business
1 answer:
Advocard [28]3 years ago
6 0

Answer:

$8,588

Explanation:

income tax brackets 2019

tax rate         income

10%       $0 to $19,400

12%       $19,401 to $78,950

total ordinary income = $64,200 + $33,500 + $1,500 = $99,200

taxable ordinary income = $99,200 - $24,400 = $74,800

tax liability = ($19,400 x 10%) + ($55,400 x 12%) = $1,940 + $6,648 = $8,588

long term capital gains = $13,200 - $10,100 = $3,100

since their total taxable income is below $78,750, their long term capital gains tax rate is 0.

total tax liability = $8,588

You might be interested in
Why do monopolies engage in price discrimination when possible? Enumerate and explain the nature of possible impediments to pric
TEA [102]
Monopolies engage in price discrimination possible because they can get away with it.

A monopoly is where only one seller sells a particular good. Because of this, the seller has the power to dictate the price of the good to the extend of giving the good the highest price possible that a consumer is willing to pay. 

Consumers must pay the price of said product because they can not get the same product from any other seller.
6 0
3 years ago
When a company owner practices price discrimination, the marginal revenue of an extra unit sold.
Kamila [148]

When a business owner uses price discrimination, the marginal revenue curve and the market demand curve are in line, therefore the marginal revenue is the same as the product's price.

The additional money made by selling one more unit of output is known as marginal revenue. The law of diminishing returns eventually leads marginal revenue to start dropping as output level grows, even though it can stay constant at a certain level of output.

The incremental cost or profit made when producing the following item is referred to as marginal. While marginal cost is the additional expense for producing one extra unit, marginal product is the increased revenue.

To know more about marginal revenue

brainly.com/question/29576816

#SPJ4

5 0
1 year ago
Which of the following statements supports multiple sourcing:
Makovka662 [10]

Answer:

Concerns exist about supplier capacity for future volume.

Explanation:

The multisourcing is a method in which the supplier base is expanded increasing the actual number of suppliers, because the needs of the company are increasing.

Advantages:

-Alternative sources of materials in case of delivery stoppage by a supplier.

-Reduced probability of bottlenecks due to insufficient production capacity to meet peak demand.

- Increased competition mong suppliers leads to better quality, price, delivery, product innovation and buyer´s negociation power.

-More flexibility to reat to unexpected events that could endanger supplier´s capacity.

Disadvantages:

-Reduced efforts by supplier to match buyer´s requirements.

-Higher cost for the purchasing organization (greater number of orders, telephone calls, records, and so on).

3 0
3 years ago
Use the following two links to answer the following questions: Nominal Wages (W) Price index CPI (P) a) (5 points) Calculate the
g100num [7]

Answer:

3.45%

Explanation:

the real wage at the beginning of the recession (12/07) = nominal wage / price index Dec. 2007 = $17.70 / 2.1141 = $8.3721

the real wage at the end of the recession (6/09) = nominal wage / price index June 2009 = $18.53 / 2.14527= $8.6609

% change in real wage = [($8.6609 - $8.3721) / $8.3721] x 100 = 3.44955% = 3.45%

Due to the recession, the price index changed less than the nominal wages since the inflation rate was very low. It is normal that during recessions, specially severe ones, the inflation rate decreases or even turns negative (what happened in Europe in those years).

3 0
3 years ago
The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting prin
kipiarov [429]

Answer:

320 Investments—Debt and Equity Securities

10 Overall

25-4 Recognition

4 0
3 years ago
Other questions:
  • During 2016, Sarasota Corporation spent $164,160 in research and development costs. As a result, a new product called the New Ag
    9·1 answer
  • The multinational corporation exxon/mobil makes close to the same amount as the gross national income of which nation
    7·1 answer
  • In most states, a licensee must provide a(n) _______ of any existing agency relationships to all parties _________ to whom they
    7·1 answer
  • Please help! Will get brainliest
    6·1 answer
  • Why do you think government services are necessary ?
    11·1 answer
  • When the Japanese car maker Toyota expands one of its car factories in the United States, what is the likely impact of this even
    6·1 answer
  • Most major furniture manufacturers affix labels to their wares that explain the products' construction features, such as type of
    11·1 answer
  • After defining the problem that eCompeteUSA wants solved, you need to determine what type of research objective to pursue. What
    6·1 answer
  • In an auction, potential buyers compete for a good by submitting bids. Adam Galinsky, a social psychologist at Northwestern Univ
    5·1 answer
  • NDS Industries is evaluating a project with an initial investment at Time 0 of $640,000. The present value of the levered cash f
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!