Solution:
(1) Maximum possible $25,000 deduction before phase-out
(2) Maximum deduction phase-out is $22,500
[($145,000 AGI - 100,000) × 0.5]
(3) Current year overall loss $2,500 (1) - (2)
(4) Rental loss in current year $8,000
(5) Current year leasing deficit of 2,500 dollars, Lesser of (3) or (4)
Passive loss carry forward $5,500 (4) - (5)
Joelle consumes food and garb. for earning near her modern-day income, her earnings expansion direction is negatively sloped. <u>Increasing </u><u>much less of 1 god whilst profits growth implies consuming extra of the opposite three .at the least one proper must be every day.</u>
The term “profits” commonly refers to the quantity of money, property, and different transfers of price acquired over a set time period in change for products or services. there may be no unmarried, preferred definition: earnings are described consistent with the context in which the idea is used.
Three of the main varieties of profits are earned passive, and portfolio. Earned income consists of wages, salary, tips, and commissions. Passive or unearned earnings may want to come from condominium homes, royalties, and restricted partnerships. Portfolio or funding income includes interest, dividends, and capital gains on investments.
Learn more about capital investments here:-
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Answer:
The statement of stockholders’ equity for the month ended October 31 is $18,450,000.
Explanation:
Noric Cruises Inc.
Statement of stockholders’ equity for the month ended October 31
Common stock Paid-In Capital Retained Earnings
Opening balance $150,000 $3,225,000 $12,400,000
Addition 800,000 - -
Net income - - $2,350,000
Cash dividends - - (475,000)
Balance at Oct 31 $950,000 $3,225,000 $14,275,000
Answer:
The answer is below
Explanation:
While different state has different requirements and rates for reporting sales tax. Sales tax items are simply used to know specific rates charged to your customers and the tax authority vendor to which you remit the sales tax.
Hence the information that is needed to set up sales tax in QuickBooks Online for a client who only does business in their home state includes the following: information that is needed to set up sales tax in QuickBooks Online for a client who only does business in their home state includes the following:
1. The company's address
2. Start date of the current tax period.
3. Estimated periodic time to file a tax return
4. Start date of collecting sales tax for the agency
5. Tax rates authority charges.
6. Sales tax item.
7. Sales tax name for the sales tax item
Answer:
paid-up additions
Explanation:
Paid-up additions refers to additional payment that insurance buyers can have above the initial required premiums agreed in initial contract, The additional payment will directly increase the amount of money given to the recipient after Beth died.
Typically, this type of insurance is bought by people who experience a sudden malicious illness with very low chance of survival.
