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PSYCHO15rus [73]
3 years ago
12

In 2019, Jonathan pays real estate taxes of $18,000 and New York State income taxes of $17,000. Assuming he itemizes, what deduc

tion for taxes can Jonathan claim in 2019
Business
1 answer:
-Dominant- [34]3 years ago
6 0

Answer: $28,000

Explanation:

Jonathan can deduct both the real estate taxes and the state income taxes but the Tax Cuts and Jobs Act cut the deduction one can claim on State and Local taxes to $10,000 from 2018 to 2025.

The total deduction Jonathan can claim is therefore:

= Real estate taxes + Capped state income tax

= 18,000 + 10,000

= $28,000

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If $1,000 is deposited in a certain bank account and remains in the account along with any accumulated interest, the dollar amou
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Answer:

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Given

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<em>Missing part of question</em>

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Required

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Add 1 to both sides

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Take square roots of both sides

\sqrt{1.210} = 1+\frac{r}{100}

1.1 = 1+\frac{r}{100}

Subtract 1 from both sides

0.1 = \frac{r}{100}

Multiply both sides by 100

r = 10

10 > 8

<em></em>

<em>Hence, the rate is greater than 8%</em>

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3 years ago
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GOOD LUCK

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