Answer:
d. All of the last 12 payments he received are taxable.
Explanation:
In the case when the life expectancy is 180 months and collected 192 payments prior he died
So according to the question, all the 12 payments would be received are taxable
Here the payment that received for 180 months would not be involved in the gross income and the remaining 12 payment would be taxable
Therefore the option d is correct
<span>The answer to this
question is False. Sanctions do not only rarely achieve their goal of forcing
change in the targeted country, but they also tend to produce collateral
economic damage in the nations that do apply them.</span>
Answer:
$4,760
Explanation:
The value a company will record for the dishwasher will be the amount that was used to purchase the dishwasher plus the associated cost of transporting and installing the dishwasher.
The price of the dishwasher to be used is the actual amount it was bought and not the fair value.
Amount recorded for dishwasher= Price + Transportation + Installation fees
Amount recorded for dishwasher= 4,200 + 330 + 230
Amount recorded for dishwasher= $4,760
Note the fee for illegal parking is not considered because it is not a direct cost related to purchase of the dishwasher
Answer:
Deductible depreciation = $2,660
Explanation:
Given:
Amount of car = $14,000
Personal use = 30%
Business use = 70%
Total depreciation = $3,800
Deductible depreciation = ?
Computation of Deductible depreciation:
Deductible depreciation = Total depreciation × Business use percentage
Deductible depreciation = $3,800 × 70%
Deductible depreciation = $2,660
Answer:
As people earn higher incomes during an expansion, the progressive tax system requires them to pay higher average tax rates
Explanation:
Automatic stabilizers are stabilizers that adjust the economy automatically without the intervention of external agents . examples include progressive tax and transfer payments
In an expansion, progressive tax increases the tax paid and this reduces disposable income
In a contraction, tax paid is reduced and this increases disposable income
