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oee [108]
3 years ago
14

During 2019, Jacob, a 19 year old full-time student, earned $4,500 during the year and was not eligible to participate in an emp

loyer-sponsored retirement plan. The general limit for deductible contributions to an IRA during 2019 is $6,000. How much of a tax-deductible contribution can Jacob make to an IRA?
Business
1 answer:
Rudiy273 years ago
7 0

Answer:

the tax-deductible contribution would be $4,500 made to an IRA

Explanation:

The computation of the tax deductible contribution make to an IRA is as follows:

It could be the lower amount of the earned income or the general limit

The earned income is $4,500

And, the general limit is $6,000

So the lesser amount is $4,500

Therefore the tax-deductible contribution would be $4,500 made to an IRA

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The opportunity cost of attending college is likely to be highest for a high school graduate Choose one: A who is very intellige
Valentin [98]

Answer:

B. who can immediately take over the family business

Explanation:

<em>Option A</em> is wrong because opportunity cost is not related to intelligence.

<em>Option C</em> is not correct because a high school graduate and a college attending student can access to student loans.

The family's wealth can not be a factor in terms of opportunity cost of attending college or a high school graduate. Therefore, <em>option D</em> is incorrect.

Option B is correct as a college attending student cannot take over the family business. So, it is his opportunity cost. On the other hand, a high school graduate can take over the business.

8 0
3 years ago
An initial decreasedecrease in a​ bank's reserves will decreasedecrease checkable deposits A. by an amount less than the decreas
svlad2 [7]

Answer:

The correct answer is B

Explanation:

Bank reserve is the minimum cash which is required to kept on hand through the financial institutions so that could meet the requirements of central bank.

Checkable deposits is a kind of any demand deposit account in anticipation of the checks or the drafts in any form which will be written. In short, it means that the owner of the account could withdraw funds on demand.

So, if the primary decrease in bank reserve will also decrease the checkable deposit as there would be no cash with bank to provide to customers by the amount that is greater than the decrease in the reserve.

8 0
3 years ago
What skills does being an accessory designer require that being a sales representative does not?
FinnZ [79.3K]
The accessory designer is required to actually design accessories with their knowledge of fadhion, while the sales representative only needs the ability to sell the accessory.
5 0
4 years ago
What do you need to file your taxes?
Burka [1]

Answer:

w-2, Form 1040, and possibly Schedule (1... etc. )

Explanation:

3 0
3 years ago
What type of tax is import and export?
lubasha [3.4K]

The levy imposed on the import and export of products is referred to as custom taxes.

This is a tactic for limiting international trade as well as a defense or support for domestic customs duties. A tariff is a fee a government charges on goods and services imported from another nation in an effort to sway it. If the service is imported, the person or company who utilizes it is responsible for paying service tax. The importer of these services is therefore eligible to claim the tax credit. Contrary to imports, there is no tax on the exports of goods and services, which makes exports the tax-free alternative to imports.

There are two types of tariffs: fixed (a fixed amount per unit of imported products or a certain percentage of the price) and variable (the amount varies according to the price). People are less likely to purchase imported goods as a result of taxes because they become more expensive.

To learn more about custom taxes please click on the given link: brainly.com/question/18332556

#SPJ4

5 0
2 years ago
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