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4 years ago

With a sole proprietorship, who pays the taxes?

2 answers:

5 0

The individual proprietor. A sole proprietorship is a pass-through entity, which means that all of the revenue and deductions are claimed by the individual who registers as a the sole proprietor. Therefore, this individual pays the taxes on such revenue gains and deducts any losses.

DiKsa [7]4 years ago

5 0

A sole proprietorship (or individual proprietor), is not a legal entity, instead, it refers to someone who owns and operates a business themself and is responsible for any debt that accrues. Regarding taxes with a sole proprietorship, the individual will claim their income and losses on their income tax return. The sole proprietor is responsible for the business entirely an it is labeled as the simplest business entity.

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Candy makers accurately anticipate the increase in demand for candy for Halloween so that the supply of candy and demand for can

ankoles [38]

Answer:

the price of candy is low and the quantity of candy is high

Explanation:

6 0

4 years ago

Quantitative Problem: Jenna is a single taxpayer. During 2018, she earned wages of $113,000. She doesn't itemize deductions, so

noname [10]

Solution :

<u>Item </u> <u>Amount</u>

Income $113,000

Personal exemption for one $ 4,050

Standard deduction $ 6,350

Taxable income $102,600

Therefore the taxable income is $102,600.

Now the tax payable on the taxable income is given by :

<u>Marginal tax rate </u> <u> Amount brackets</u>

10% $0 - $ 9,325

15% $ 9,326 - $ 37,950

25% $ 37,951 -$ 91,900

28% $ 91,901 - $ 191,650

Now according to the above taxable slab, the amount of tax on the wages earned by Jenna is :

Tax payable = $= (0.1 \times 9325)+(0.15 \times (37950 - 9325))+(0.25 \times (91900 - 37950))+(0.28 \times (102600-91900))$ $= (0.1 \times 9325)+(0.15 \times 28625)+(0.25 \times 53950)+(0.28 \times 10700)$

= 932.5 + 4293.75 + 13487.50 + 2996

= $ 21,709.75

There is also a long term capital gain of $ 5,200 that is earned by selling the common stock.

Now as per IRS, the capital gain of a long term tax percentage for an individual single filer is in 28% tax slab category is 15%.

Therefore the tax on the capital gain of $ 5,200 is = 0.15 x 5200

= $780

Thus the total tax payable by Jenna is = $ 21,709.75 + $ 780

= $ 22,489.75

5 0

3 years ago

in one or two sentences explain the role of prices in a market and include distribution, producers and consumers

xenn [34]

<h2>Answer:</h2>

The price of goods represents a crucial role in managing an effective distribution of supplies in a market system. Price serves as a signal for deficits and surpluses which help firms and customers respond to changing market conditions.

8 0

3 years ago

Read 2 more answers

A manufacturer of handcrafted wine racks has determined that the cost to produce x units per month is given by upper c equals 0.

Fantom [35]

Answer:

The cost per month is increasing at a rate $365.

Explanation:

Differentiation Formula

$\frac{d}{dx}(x^n)= nx^{n-1}$
$\frac{d}{dx}(a)=0$ [ where a is a constant]
$\frac{d}{dx}(ax^n)=a \frac{d}{dx}(x^n)= anx^{n-1}$

Given that,

A manufacturer of handcrafted wine racks has determined that the cost to produce x units per month is given by

$c=0.2x^2+10,000$ .

Again given that,

the rate of changing production is 13 unit per month

i.e $\frac{dx}{dt}=13$

To find the cost per month, we need to find out the value $\frac{dc}{dt}$ when production is changing at the rate 13 units per month and the production is 70 units.

$c=0.2x^2+10,000$

Differentiating with respect to t

$\frac{d}{dt}(c)=\frac{d}{dt}(0.2x^2)+\frac{d}{dx}(10,000)$

$\Rightarrow \frac{dc}{dt}=0.2\frac{d}{dt}(x^2)+\frac{d}{dx}(10,000)$

$\Rightarrow \frac{dc}{dt}=0.2\times 2x^{2-1}\frac{dx}{dt}+0$

$\Rightarrow \frac{dc}{dt}=0.4x\frac{dx}{dt}$

Plugging $\frac{dx}{dt}=13$

$\Rightarrow \frac{dc}{dt}=0.4x\times 13$

$\Rightarrow \frac{dc}{dt}=5.2x$

$\frac{dc}{dt}|_{x=70}=5.2\times 70$ [ plugging x=70]

=364

[ The unit of c is not given. Assume that the unit of c is dollar.]

The cost per month is increasing at a rate $365.

4 0

3 years ago

Brent, a waiter at a restaurant, always provides good service to the customers. He believes that his supervisor is fair and hope

Serjik [45]

Answer:

D, Instrumentality

Explanation:

Instrumentality can be defined simply to mean the importance of a person or thing to situations/events.

From the above question, Brent believes in his performance as being great in the restaurant and as such expect that his importance/contribution in the restaurant will be appreciated and noticed enough to expect a salary increase.

Cheers.

4 0

4 years ago