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Alborosie
2 years ago
12

pJimmy is a client of yours and he has some holdings in U.S. T-Bonds. Over the past year, he received $500 in interest from thes

e bonds. His accountant has informed him that he is in the 28% tax bracket with all sources of income considered. He lives in the State of California, so his State Income Tax Rate is 9%. What kind of tax liability is Jimmy looking at in relation to the interest received from his U.S. T-Bonds
Business
1 answer:
Firdavs [7]2 years ago
5 0

Answer:

Jimmy must pay federal income taxes for the $500 earned in dividends during last year = $500 x 28% = $140

Since interest earned on federal securities are not taxed by state or local governments, there is no state tax liability.

Jimmy's total taxes due from dividends earned = $140

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If inflation is lower than expected, it would benefit the union and it would be a disadvantage to Friendly Airlines because the real wage increase would now be 4%.

<h3>What is inflation?</h3>

Inflation is when there is a general increase in the general price level of an economy. If inflation turns out to be lower than expected, the employers would be at a disadvantage while the employees would be at advantage because there would be an increase in their real wages.

Increase in real wage = real increase in wage + (expected inflation + actual inflation)

3% + (6% - 5%) = 4%

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1 year ago
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No

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3 years ago
1- What is the percentage of people employed by small businesses in the US?
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3 years ago
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Demand decreases

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If the price of a substitute good declines, customers will prefer consuming it instead of the other product. The other product's demand will decrease due to a change in customer preferences as a result of a lower price.

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