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Irina18 [472]
2 years ago
8

Ray and Chuck own 50 percent capital and profits interests in Alpine Properties LLC. Alpine builds and manages rental real estat

e, and Ray and Chuck each workspercent capital and profits interests in Alpine Properties LLC. Alpine builds and manages rental real estate, and Ray and Chuck each works full time (over full time (over 1,000 hours per year) managing Alpine. Alpineâs debt (at both the beginning and end of the year) consists of $1,570,000 in nonrecourse mortgages obtained from an unrelated bank and secured by various rental properties. At the beginning of the current year, Ray and Chuck each had a tax basis of $250,000 in his respective LLC interest, including his share of the nonrecourse mortgage debt. Alpineâs ordinary business losses for the current year totaled $532,000, and neither member is involved in other activities that generate passive income. Assume CARES Act applies.
Required:
If both Ray and Chuck are single and Ray has a current-year loss of $16,000 from a sole proprietorship, how much trade or business loss can each deduct on their tax returns?
Business
1 answer:
Dovator [93]2 years ago
7 0

Answer:

Ray = $200,000

Chuck = $250,000

Explanation:

<u>Determine how much trade or business loss can each deduct on their tax returns </u>

Total loss of Ray = $16000 + $250000 = $266000

since Ray suffered a loss of $16000 from his sole proprietorship and a loss of $250,000 . the total loss suffered from the partnership will not be deductible because it will lead to excessive business loss for the partnership

For RAY : the partnership loss can be calculated as : $250000 - $16000     =$234000

chuck can deduct $250000 loss on tax returns

this is because the threshold is not exceeded as no other loss is created

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Road Hazards has 12-year bonds outstanding. The interest payments on these bonds are sent directly to each of the individual bon
Alexeev081 [22]

Answer:

At par

Explanation:

From the question we are informed about Road Hazards with has 12-year bonds outstanding. The interest payments on these bonds are sent directly to each of the individual bondholders. In this case these direct payments are a clear indication that the bonds can accurately be defined as being issued at par. A par bond can be regarded as bond that is been sold at the exact face value, most mind sells at the face value of $1000, that $1000 is the face value, any par bond usually give an investor a yield which matches the amount of coupon that is associated to the bond.

.

7 0
3 years ago
HELP!!! Marketing
Harrizon [31]

Answer:

1. ANSWER: 20,000

2. ANSWER: $400,000

3. ANSWER: $28.45

Explanation:

1. If the average price for a new disposable cell phone is $20, and the total market potential for that product is $4 million;and Topco, Inc. has a planned market share of 10 percent. Then, Topco have the potential to sell in this market 10% * $4 million / $20 = 20,000 units of the proposed cell phone.

2. The planned market share in dollars is 10% * $4 million = $400,000

3. If Atlantic Car Rental charges $29.95 per day to rent a mid-size automobile. Pacific Car Rental, Atlantic's main competitor, just reduced prices on all its car rentals. In response, Atlantic reduced its prices by 5 percent.

Now Atlantic's new cost of rental for mid-size cars is: 95% of $29.95 =  $28.45

5 0
3 years ago
The following information is taken from the production budget for the first quarter: Beginning inventory in units 1000 Sales bud
olga2289 [7]

Answer:

The correct answer is 408,000 units

Explanation:

Computing the finished goods units to be produced during quarter is as:

= Desire units - Beginning inventory units

where

Desire units is 3,000

Beginning inventory units is 1,000

So,

=3,000 units - 1,000 units

= 2,000 units

Now, computing the finished goods units as:

Finished goods units = 2,000 units + Sales budgeted for the quarter

Finished goods units = 2,000 units + 406,000 units

Finished goods units = 408,000 units

NOTE: It should be 408,000 not 40800.

7 0
3 years ago
Under which circumstances must an employer provide a guardrail?
Arada [10]

Answer:

A, B and D

Explanation:

Under  OSHA laws, employers must provide a safe workplace for the employees. All the danger areas must be indicated with either painting or signage. Using guard rails is an excellent way of demarcating danger zones. They keep employees away from dangerous spots. In this case, an employer should use guard rails in the following circumstances.

1.Around every floor hole into which a worker can accidentally walk. The guard rails will form a barrier that will prevent accidental falls into the hole.

2.Around every open-sided platform, floor, or runaway that is 4 feet or higher off the ground or next level. The guard rails form a wall that prevents employees in raised levels from falling to the ground.

3. Regardless of height, if a worker can fall into dangerous machines or equipment. In case of an incident, the guard rails will stop an employee from falling into dangerous machines or equipment.

8 0
3 years ago
A code of ethics: a should be kept confidential from a firm's employees. b should be limited to a list of dos and don'ts. c shou
charle [14.2K]
<span>The correct answer is (d) should be in written form to avoid confusion. A code of ethics that is simply verbal can lead to a lot of confusion as employees will not actually know it entirely. Being in written form allows everyone in the company to refer to it and follow it.</span>
6 0
3 years ago
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