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ElenaW [278]
3 years ago
8

A sole proprietor in the 37% tax bracket pays her 16-year-old son a reasonable salary of $14,000 for services performed for the

proprietorship. Compute the family's income tax savings if the son has no other income and takes a $12,400 standard deduction.
Business
1 answer:
Daniel [21]3 years ago
3 0

Answer: $5020

Explanation:

The family's income tax savings if the son has no other income and takes a $12,400 standard deduction will be calculated as:

Explanation:

Tax savings from deduction = ($14,000 × 37%) = $5180

Less: Tax on child's taxable income = 10% × ($14,000 - $12,400) = 10% × $1600 = $160

Family's income tax savings = $5180 - $160 = $5020

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When the overhead cranes crashed into each other for the third time, Joe formed a team to look into ways to avoid future crashes
Dominik [7]

Answer:

The team has completed 'developing alternatives' step in decision making process

Explanation:

Decision making is a very crucial activity carried out by a manager. Various strategies are adopted in the decision making process so as to to come arrive at an appropriate decision.

One of the stages in decision making process is 'developing alternatives' as a prospective course of action. Out of these alternatives, the best one is chosen based on various analysis.

Here, after brainstorming session, the team came up with three ideas to avoid future crashes. These three ideas represent alternatives. Out of these three ideas, the best idea or alternative would be selected.

So, team has completed 'developing alternative' stage in decision making process.

7 0
3 years ago
A Notary Signing Agent has been providing signing services will no incidents for over 10 years without having undergone a backgr
ohaa [14]

he or she don't make any mistakes

4 0
3 years ago
A movie ticket cost $0.5 in 1970. The CPI (1970) and the CPI (2011) was 38.8 and 218.8 respectively. How much money would you ha
adelina 88 [10]

Answer:

$2.82

Explanation:

The CPI is the measure of the average changes in prices of consumer goods and services. The CPI compares current prices and prices at the base year.

CPI is expressed as a percentage. It represents the cost of goods in a given year divided by the cost of goods in the base year multiplied by 100.

In 1970, the movie price was $0.50, and CPI was 38.8%

in 2011, CPI was 218.8%; the movie price will be?

in 1970: $0.50 =38.8%

in 2011: ? = 218.8%

?= 218.8/38.8 x $0.50

?=5.6392 x 0.50

=$2.81896

=$2.82

4 0
3 years ago
Tara purchased a machine for $40,000 to be used in her business. The cost recovery allowed and allowable for the three years the
Nana76 [90]

Answer:

The answer is "$11,480".

Explanation:

Calculate the benefit as illustrated below:  

               Recovery of costs approved                      Recovery costs approved

Year-1                    $16,000                                            $8,000

Year-2                   $9,600                                             $12,800

Year-3                   $5,760                                             $7,680

Total cost                                                                                                $40,000

Making a reference to:  Cause great costs allowed or permitted

Year-1                                            $16,000      

Year-2                                           $12,800

Year-3                                           $7,680                                             $36,480

Adjusted basis                                                                                       $3,520

Formula:

Recognized Gain = Residual value - Adjusted basis

                             = \$ \ 15,000 - \$ \ 3,520 \\\\ = \$ \ 11,480

8 0
3 years ago
Comprehension Que<br>1. What was the occupation of Husni before he relocated to the city?​
rodikova [14]

Answer:

Egyptian military and political leader

6 0
3 years ago
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