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Kaylis [27]
3 years ago
13

How much can Jeff claim as an itemized deduction for taxes paid if he paid the following in 2019: (state income tax withheld of

$5000; real estate taxes of $3500; personal property taxes based on value of his car of $1000, state income tax owned for 2016 of $450; and gas tax of $675)
Choose one answer.
a. None of these
b. $10,625
c. $10,000
d. $9,625
e. $9,950
Business
1 answer:
Vilka [71]3 years ago
4 0

Answer: $10,000

Explanation:

First and foremost, we need to calculate the total amount of itemized deductions which will be:

= $5,000 + $3,500 + $1,000 + $450 + $675

= $10625

We should note that taxpayers can deduct taxes for up to $10,000. Therefore, in this scenario, the amount that Jeff can claim as an itemized deduction for taxes paid will be $10000

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Gelneren [198K]

Airlines that offer lower fares on seats shortly before a flight's departure date to fill empty seats are utilizing dynamic strategy which is a form of dynamic pricing. Real-time pricing, often known as dynamic pricing, is a highly adaptable method of determining a product's or service's price.

Dynamic pricing aims to enable businesses who offer products or services online to quickly modify prices in response to consumer demand. A pricing approach called "dynamic pricing" substitutes variable prices for fixed ones.

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8 0
1 year ago
Which of the following statements is true?
OlgaM077 [116]

Answer:

These statements are true:

A) The Federal Reserve does not set the Federal funds rate, but it influences it through the use of open market operations:

For example, at the very moment the Fed funds rate is 1.75%. If the Fed wanted to raise it to 2%, it would have to do so through the use of open market operations (in this case, because it wants to raise the rate, it would have to sell securities in order to reduce the money supply).

C) The Federal Reserve sets the target for the Federal funds rate, and then uses the reserve ratio to push banks toward that target.

Reserve requirements are perhaps the most powerful, and least often used, monetary policy tool that the Fed has at its disposal. It is very powerful because it directly increases or decreases the money supply.

For example, if the Fed wants to increase the fed funds rate, it can raise the reserve ratio so that banks keep more money in reserves, have less money to loan, and in consequence, create less money, causing the money supply to shrink and the fed funds rate to rise accordingly.

D) The Federal Reserve sets the Federal funds rate.

Correct. More specifically, the Federal Open Market Committee, which meets eight times a year to set the target for the fed funds rate.

3 0
2 years ago
Which of the following are advantages and characteristics of hot working relative to cold working (three correct answers):
Rashid [163]

Answer:

(a), (e), (f)

Explanation:

A)Fracture of workpart is less likely

E) Lower deformation forces are required F). More significant shape changes are possible

8 0
3 years ago
Lorenzo is self employed with an s corporation. he is unmarried and had a net profit for the tax year. what are the tax ramifica
ziro4ka [17]
<span>Lorenzo would be required to pay all of his premiums regardless since he is self employed. Since he is self employed he should be able to deduct these premiums at the end of the year</span>
7 0
3 years ago
A number of activities that are a part of a company's quality control system are listed below.
Karolina [17]

Answer:

Following is the classification of  the costs associated with each of these activities that is prevention cost, appraisal cost, internal failure cost, or external failure cost.

(a) Product testing  - Appraisal Cost

(b) Product recall  - External Failures

(c) Product design  - Prevention cost

(d) Quality circle  - Prevention cost

(e) Inspection of goods - Appraisal Cost

Explantion cost:

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Internal failure costs are costs incurred to remove defects found before the customer receives the product or service. External failure costs are costs incurred to remove defects found after the customer receives the product or service.

8 0
3 years ago
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