Answer:
B. $24,000
Explanation:
The pass-through deduction or the section 199A deduction as it is officially called is a reduction by 20 percent of your income tax provided by the new tax law set in place for the 2018 tax year. It is eligible for small business owners who run a pass-through business and whose tax income doesn't exceed $157,500 for singles and $315,000 for married couples.
To calculate the figure, you simply need to find 20% of your business profit. Jennifer has a taxable income of $150,000, which is less than the $157,500 limit to qualify for the pass-through deduction. So her pass through deduction becomes
20% of $100000 + $20,000
= 20/100 x $120,000
= $24,000
Note: Real Estate Investment Trust (REIT) dividend income and qualified Publicly Traded Partnership (PTP) income also are eligible for the pass-through deduction by law, hence the addition of the $20,000.
I would say that the last answer is the most likely to occur
it's b (: it's simply regular butter but with the milk solids removed.
The journal entry for the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
The government levies a consumption tax known as a sales tax on the purchase of goods and services. At the point of sale, a standard sales tax is imposed, collected by the retailer, and paid to the government. Companies must first apply for a sales tax permit from their state's department of taxation in order to be able to collect sales tax from customers. Every time a customer makes a purchase, businesses collect sales tax, which they subsequently monthly or quarterly send to the state.
As the selling price of the merchandise is $2,600 and the state sales tax is 6%, this means that 6% of $2,600 has to be paid to the state governing body.
Sales tax = 6% of 2600
Sales tax = 6/100 × 2600
Sales tax = 0.06 × 2600
Sales tax = $156
Therefore; the entry to journalize the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
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Answer:
A. low; low
Explanation:
Value stocks usually exhibit low price-to-book ratios and low price-to-earnings ratios