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vekshin1
2 years ago
13

Amir, who files single, has AGI of $58,000 and incurred the following itemized deductions this year: Union dues and work uniform

s: $350 Home office expenses: $1,200 Unreimbursed employee expenses: $415 Gambling losses to the extent of gambling winnings: $890. What is Amir's total itemized deduction related to these items?
Business
1 answer:
kari74 [83]2 years ago
7 0

Answer:

$890

Explanation:

With respective to tax perspective, the following items are not available for deductions which are shown below:

1. Union dues and work uniforms

2. Home office expenses

3.  Unreimbursed employee expenses

The gambling losses are extent to the gambling winnings i.e $890 is available for the itemized deductions. The 2% rate is not applicable.

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If the nominal interest rate is 7 percent and the real interest rate is -2.5 percent, then the inflation rate is Group of answer
madreJ [45]

Answer:

Inflation = 9.5%

Explanation:

Inflation can be defined as the persistent general rise in the price of goods and services in an economy at a specific period of time.

Given the following data;

Nominal interest rate = 7 percent.

Real interest rate = -2.5 percent

Real interest rate = Nominal interest rate - Inflation

Inflation = Nominal interest - Real interest rate

Inflation = 7 - (-2.5)

Inflation = 9.5%

4 0
2 years ago
Determine the tax consequences to Euclid from the following independent events. Round the per share answer to the nearest cent.
Levart [38]

Answer:

$100 per share

Explanation:

Complete question: <em>As a result of the stock dividend, Euclid's per share basis is $?</em>

<em />

The Total stock is 500 shares for $50,000 Basis = 50,000 / 500 = $100

Hence, Euclid's per share basis is = $100 per share

8 0
3 years ago
At the beginning of the month, you owned $8,000 of General Dynamics, $7,000 of Starbucks, and $5,000 of Nike. The monthly return
guajiro [1.7K]

Answer:

= $406.6

Explanation:

To calculate return of portfolio we first calculate weight of each asset

this can be done by finding total investment and then dividing each asset by total investment.

Total investment = 8000 + 7000 + 5000 = $20,000

General Dynamics     8000/20000 = 0.4 = W1

Starbucks                    7000/20000 = 0.35 = W2

Nike                             5000/20000 = 0.25 = W3

Now for portfolio return we can use the formula

P(r) = W1 * (Return on W1 asset) + W2 * (Return on W2 asset) + W3 * (Return on W3 asset)

So,

P(r) = 0.4 * (0.0680) + 0.35 * (-0.0152) + 0.25 * (-0.0062)

This gives us

Total Return % = 0.02033 or 2.033%

Simply multiply this cumulative weight to total portfolio worth

Total Return in $ = 0.02033 * 20000  = $406.6

Hope that helps.

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3 years ago
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Semmy [17]

Answer:

Pls refer to the attached file

Explanation:

4 0
3 years ago
What did martin luther king jr do as a call for action in birmingham in 1963
jekas [21]
He wrote a letter describing all the violence African Americans faced.
3 0
2 years ago
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