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Papessa [141]
3 years ago
14

Samir is a self-employed marketing consultant. He had no income from January through March 2020. His April through December 2020

income subject to SE tax is $55,000. Samir's SE tax for 2020 is $7,771 [$55,000 x 0.9235 x 0.153 = $7,771]. Samir may reduce his estimated tax payments by how much? Hint: USE Form Schedule SE to help you find the answer. $2,849 $3,886 $3,149 $6,298
Business
1 answer:
babunello [35]3 years ago
6 0

Answer:

$3,886

Explanation:

A self employed taxpayer can deduct the employer portion of self employment taxes that he/she pays during the year. In this case, total self employment taxes are $7,771 x 50% = $3,885.50 corresponding to employer taxes (the other 50% are not deductible since they correspond to employee taxes).

Self employment taxes include Medicare and Social Security taxes (FICA taxes basically).

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A mutual fund that invests in stocks that provide a predictable source of dividend income and the potential for dollar appreciat
Umnica [9.8K]

Answer: Equity funds

Explanation: This type of mutual fund invest in stocks,the risk of losing your investment is high in this type of mutual fund,these funds are usually expected to grow faster than fixed income funds and money market funds.

There are different types of Equity funds which includes mid-income stocks,value stocks,high-cap stocks,growth stocks and income stocks.

The potential for Dollar appreciation is high with these types of stocks with predictable source of dividend.

5 0
3 years ago
The three common types of checking accounts are basic, interest-bearing, and lifeline?
otez555 [7]

Answer:

True

Explanation:

Quizlet: Name three common types of checking account? basic checking account, interest-banking checking account, and Lifeline checking accounts.

3 0
2 years ago
A project's operating cash flow will increase when the: Group of answer choices depreciation expense increases. interest expense
kkurt [141]

The correct option is (a) depreciation expense increases.

A measure of the amount of money made by a company's regular business operations is called operating cash flow (OCF). Operating cash flow shows if a business can produce enough positive cash flow to support and expand its operations; if not, it may need outside finance for capital growth.

While cumulative depreciation is the overall amount of wear and tear to date, depreciation expense is the amount that a company's assets are depreciated for a specific period (such as a quarter or the year). Accumulated depreciation is neither an expense, nor is it a depreciation expense.

Learn more about operating cash flow (OCF) here

brainly.com/question/735261

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4 0
1 year ago
The clientele effect for dividends states that ___________.
Bogdan [553]

Answer:

Option E

Explanation:

In simple words, Dividend clientele relates to the identity of such a group in shareholders of a corporation who have a common opinion of the dividends policies of the firm. Shareholders of a customer base with dividends typically base their expectations on equivalent income status, tax factors or maturity on a given dividend distribution ratio.

Thus, from the above we can conclude that the correct option is E.

6 0
2 years ago
In spring 2012, Mainline Engineering Company signed an $80 million contract with the city of Duluth, to construct a new city hal
aniked [119]

Answer:

Mainline should recognize a revenue of  $32 million in 2012.

Explanation:

percentage-of-completion method:

Total Expenses = $60 million

Expenses during the Year 2012 = $24 million

Percentage of complition = 24/60

                                           = 40%

Revenue can be recognised = $80 million*40%

                                                = $32 million

Therefore, Mainline should recognize a revenue of  $32 million in 2012.

8 0
3 years ago
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