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Rom4ik [11]
3 years ago
8

Max, a single taxpayer, has a $270,000 loss from his sole proprietorship. How much of this loss is deductible after considering

the excess business loss rules?a. $270,000.b. $250,000.c. $20,000.d. $0.e. None of the choices are correct.
Business
1 answer:
Lunna [17]3 years ago
6 0

Answer:

Option "B" is the correct answer to the following statement.

Explanation:

According to excess business loss rules, $500,000 is deductible to joint return and $250,000 deductible for a single taxpayer or single return.

In this situation, Max is a single taxpayer so, he would receive a maximum $250,000 loss deduction under excess business loss rules.

Therefore, Max's maximum deductible amount is $250,000.

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Research indicates that high-performance project teams are much more likely to develop under certain conditions. One of these conditions is that members are assigned to the project manager.

High performance teams are composed of individuals with specialized expertise and complementary skills who are hyper focused and goal oriented on achieving clear and outstanding results

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4 0
2 years ago
In a sales mix situation, at any level of units sold, net income will be higher if more fixed expenses are incurred. more higher
svet-max [94.6K]

Answer:

at any level of units sold, net income will be higher if more higher contribution margin units are sold than lower contribution margin units.

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4 years ago
Which of the following is an example of a variable cost?
valentinak56 [21]
A. Rent for a warehouse

Hope this helped. Good luck!
3 0
3 years ago
Read 2 more answers
Describe 2 reasons why many Midwest farmers and ranchers are welcoming wind farms and becoming developers.
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Explanation:

*Free fuel

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*Advance of technology

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8 0
2 years ago
Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts
sineoko [7]

The amount of the bad debts expense adjusting entry is:$7665.

<h3>Bad debt expenses</h3>

Using this formula

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Let plug in the formula

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Therefore the amount of the bad debts expense adjusting entry is:$7665.

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2 years ago
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