Answer: A. limited liability company.
Explanation:
A Limited Liability Company (LLC) is a type of company that is operated and taxed like a partnership for instance, profits that flow to the partners are taxed on the partner's income but not on the firm to prevent double taxation. This is called Flow-Through Taxation.
They operate with limited Liability for the owners because the owners are only personally liable for the debts and liabilities the company has up until the capital they invested. Anything past this and they cannot be held liable.
Answer:
According to Maslow's hierarchy of needs, self esteem consists of an individual striving for importance.
Explanation:
- Maslow's hierarchy of needs suggests that people have various needs, and they must satisfy the basic needs before moving on to satisfy advanced needs.
- There are five different levels of needs according to Maslow.
- Physiological needs-
- Security and safety needs
- Social needs
- Self esteem
- Self actualization
- The lower four needs are deficiency needs that arise due to deprivation. Satisfying the physiological,social,security and esteem needs is important to feel content.
- The highest level of need is growth need.They arise from the desire to grow as an individual.
Answer:
Assuming Simon’s AGI is $40,000.
Gambling losses are only deductible to the extent of gambling winnings. Thus,Simon cannot deduct any of the $4,300 gambling losses. The $3,160 transportation expenses are also nondeductible as they are deemed to be personal expenses. The $2,650 broker management fees are deductible as investment fees (miscellaneous itemized deductions subject to the 2% AGI floor), and the $1,030 tax return fees are also deductible as miscellaneous itemized deductions subject to the 2% AGI floor.
Thus, $2,650 + $1,030 – (2% x $40,000 AGI) = $2,880 deduction
