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Masja [62]
3 years ago
10

During the current year, Tucker had the following personal casualty gains and losses (after deducting the $100 floor):

Business
1 answer:
Montano1993 [528]3 years ago
5 0

Answer:

$22,355 will be taxed as long term capital gains

Explanation:

First of all, casualty gains or losses result from events that are not business related, e.g. your house burnt down. Casualty gains occur when an insurance company or another third party pays for the damage that resulted from a casualty loss. If the reimbursement is larger than the asset's basis, an involuntary conversion gain results. Involuntary conversion gain or net casualty gains are taxed as long term capital gains if the holding period is more than 1 year.

Tucker's net casualty gains = ($15,780 + $32,875) - $26,300 = $22,355

Since capital gains taxes are lower than ordinary income taxes, Tucker will have to pay between either 0%, 15% or 20% as capital gains tax rate.

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The standard unmodified audit report A. is sometimes called a clean opinion. B. can be issued only with an explanatory paragraph
TEA [102]

Answer:

A. is sometimes called a clean opinion.

Explanation:

The standard unmodified audit report is the report where the auditors said the financial statement of the company are prepared by keeping all material aspects and it is complied with the accounting standards

It is also known as a clean opinion

Therefore as per the given situation, the option A is correct

hence, the same is to be considered

4 0
3 years ago
Melissa is an automobile owner. What will most likely occur if she misses a car payment?
Vika [28.1K]
Late fee or even repo
5 0
3 years ago
Validated changes and validated deliverables are the outputs of the ____________________ subprocess of project quality managemen
Usimov [2.4K]

Confirmed modifications and verified deliverables are the outputs of the tracking and controlling subprocess of the quality management manner of mission great management.

Design of experiments is a method that allows identifying which variables have the most impact on the general outcome of the manner. you can also practice the layout of experiments to project control troubles such as value and timetable trade-offs.

Products that can be established via task stakeholders are considered to be demonstrated deliverables. A run chart is a bar graph that depicts facts points and their order of incidence. the usage of Six Sigma principles is a business enterprise-wide commitment and all employees must embrace its concepts. The time period sigma means median.

Manner modifications correct or save you similarly fine issues based totally on first-rate control measurements. process changes regularly result in updates to the satisfactory baseline, company method property, and the assignment management plan.

Learn more about project quality management here: brainly.com/question/15088255

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5 0
2 years ago
Why would multinationals be interested in setting up operations in mexico? give two reasons. would cultural differences be a maj
Darina [25.2K]
I would say that multinationals especially Canadian mining companies are anxious to set up operations in Mexico due to cheap labour, a government that favors foreign investment and rich mineral resources.
8 0
3 years ago
The first step in problem solving is to:
schepotkina [342]

Answer:

The correct answer is B

Explanation:

Problem solving is the act which states or defines the problem, identifying, determining the problem cause, choosing the alternatives for the solution, prioritizing and executing the solution.

The problem solving involves or comprise of the four stages of the team which are performing, storming, forming and norming. And the first or basic step comprise of the discussing as well as documenting the views of the individual until everyone agrees the problem nature.

5 0
4 years ago
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