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zysi [14]
3 years ago
6

This year Mary received a $600 refund of state income taxes that she deducted on her tax return last year. Mary included a total

of $8,450 of state income taxes when she itemized deductions last year. What amount of the refund, if any, should Mary include in her gross income this year?
Business
1 answer:
Mariulka [41]3 years ago
5 0

Answer:

$600

Explanation:

If instead of itemizing, Mary had elected the standard deduction last year, then she wouldn't have to include any state income tax refund on her current gross income. But since she itemized her deductions and actually deducted these $600 from her gross income last year, she must include them in he current gross income.

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Mary, a CPA, prepared Gordon’s tax return for the current year. In preparing his return, she took a deduction that is contrary t
Trava [24]

Answer: YES, marry is in conflict.

Explanation: As being a certified public accountant it is responsibility of mary to correctly prepare the tax return for the client. However, she took a deduction that is contrary to the code hence she failed to do her work properly. Now, gordon would have to bear the additional tax in case of correction of the error in deduction made by his CPA.

4 0
3 years ago
considering remodeling the office building. The costs are estimated at $2.8 million. After the building is remodeled, Delta expe
fomenos

Answer:

the benefit of carrying out the project is $119,666 in today's $

Explanation:

initial outlay = -$2,800,000

cash flow 1 = $820,000

cash flow 2 = $820,000

cash flow 3 = $820,000

cash flow 4 = $820,000

cash flow 5 = $820,000

discount rate = 12.5%

NPV = -$2,800,000 + $820,000/1.125 + $820,000/1.125² + $820,000/1.125³ + $820,000/1.125⁴ + $820,000/1.125⁵ = $119,666

5 0
3 years ago
Job interviewers often say to job applicants, "tell me about yourself." the purpose of this request is to:
Aleks [24]
The purpose of this question is to:
1) Assess the personal values of the individual.
2) Assess the interviewee's command of language.
3) Assess if the interviewee is witty enough to answer the questions.
4) Assess if the interviewee is able to carry himself well to impress.

Hope this helps you.
5 0
3 years ago
What is global standardization strategy​
Mashcka [7]
What is Global Standardization? ... The general definition of global standardization is the ability to use standard marketing internationally. In other words, it's the ability for a company or business to use the same marketing strategy from one country to the next, and across various cultures.
5 0
3 years ago
What types of new products could be targeted at low-income customers in emerging economies?
mel-nik [20]

The question is about demand in a low income consumer emerging economies.

In an Emerging Economies various types of products can be sold but we are targeting low-income customers, for which we can have a limited types of products.

The products that can be sold in an emerging economy to low income customers are;

- Low priced foods, which may include instant noodles, cheap canned foods etc.

- Low priced beauty products which may include cheap makeup, and herbal skin products.

- Low priced clothes which may include cheap t-shirts and pants.

Learn more about Business at brainly.com/question/15146590

4 0
2 years ago
Read 2 more answers
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