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Nastasia [14]
3 years ago
7

In 2019, Carlos filed his 2018 state income tax return and paid taxes of $800. Also in 2019, Carlos's employer withheld state in

come tax of $750 from Carlos's salary. In 2020, Carlos filed his 2019 state income tax return and paid an additional $600 of state income tax due for 2019. How much state income tax can Carlos deduct on his 2019 federal income tax return for state income tax?
Business
1 answer:
irga5000 [103]3 years ago
6 0

Answer:

He can deduct on his 2019 federal income tax return for state income tax $1,550

Explanation:

According to the given data, we can conclude that Carlos cannot deduct the addition of $600 of state income until next year.

Therefore, in order to calculate how much state income tax can Carlos deduct on his 2019 federal income tax return for state income tax we would need to make the following calculation

income tax to deduct on 2019 federal income tax return= Taxes paid+ withheld state income tax from salary

income tax to deduct on 2019 federal income tax return= $800 + $750 income tax to deduct on 2019 federal income tax return=$1,550.

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Ken just bought a house. He made a $25,000 down payment and financed the balance with a 20-year home mortgage loan with an inter
Rudiy27

Answer:

$163,104

Explanation:

loan principal = monthly payment x PV annuity factor

monthly payment = $950

PV annuity factor, 0.4583%, 240 periods = 145.3726

loan principal = $950 x 145.3726 = $138,104

the price of the house = down payment + loan = $25,000 + $138,104 = $163,104

6 0
2 years ago
​Nguyen's Sporting Goods is having difficulty obtaining the credit it needs to expand. What should the company do in order to al
WINSTONCH [101]

Answer:

Work out a plan with its financial intermediaries.

Explanation:

As mentioned in the question that Nguyen's Sporting Goods is having difficulty obtaining the credit, it needs to expand. The company should <u>work out a plan with its financial intermediaries</u>, in order to alleviate its financial situation. Because as we all know that a  financial intermediary is a financial institution as well. So the company has to create a plan with there financial institution.

8 0
2 years ago
Julia's is an upscale women's clothing store. prices are based on customers' beliefs about the value of the clothing. the store
Elis [28]
The answer to the question is "Customer- Oriented".

<span>Julia's is an upscale women's clothing store. prices are based on customers' beliefs about the value of the clothing. the store focuses on a limited target market and provides excellent customer service.Julia's is using a CUSTOMER ORIENTED pricing strategy.</span>
3 0
2 years ago
Underfoot Constructions is an organization with a distinct division of labor and a consistent set of rules. Managers conduct bus
polet [3.4K]

Answer:

Bureaucracy best describes this firm

Explanation:

4 0
3 years ago
Joe must pay liabilities of 1,000 due one year from now and another 2,000 due three years from now. There are two available inve
kari74 [83]

Answer:

1. 2,584

Explanation:

future payments: $1,000 in 1 year and $2,000 in 3 years

the present value of alternative I (one year bond):

$1,000 / 1.06 = $943.40

the present value of alternative II (first 2 years and then 1 year):

$2,000 / 1.065 = $1,877.93 ⇒ PV at year 2

PV at year 0 = $1,877.93 / 1.07² = $1,640.26

the total present value of both options = $943.40 + $1,640.26 = $2,583.66 ≈ $2,584

4 0
2 years ago
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