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KiRa [710]
2 years ago
14

William (71), a retired single taxpayer, received a monthly pension of $2,500 ($30,000 annually). He did not contribute any afte

r-tax dollars to the plan while he was working; his employer paid all the costs. William received a 2020 Form 1099-R reporting a gross distribution of $30,000 in box 1, but box 2 of the form is blank. How much of William's pension distribution is taxable
Business
1 answer:
IceJOKER [234]2 years ago
4 0

Based on the information given, it should be noted that the amount of William's pension distribution that is taxable is $30000.

From the information given, William is a retired single taxpayer and he received a monthly pension of $2,500 ($30,000 annually). He did not contribute any after-tax dollars to the plan.

It should be noted that pension is counted as a regular income for tax purposes. Therefore, the pension that'll be received by William will be a taxable income

Therefore, the taxable amount will be $30000.

Learn more about taxes on:

brainly.com/question/1657264

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A firm will exit a competitive market when A. costs force the marginal cost curve to shift to the left. B. the longrun profit wo
kakasveta [241]

Answer:

B. the longrun profit would be negative.

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

A firm would shut down in the short run if price is less than average variable cost and exit if it  is making a loss

4 0
3 years ago
Personal selling requires the ________ flow of communication between a buyer and a seller, often in a face-to-face encounter, de
Free_Kalibri [48]

Answer:

Two-way flow

Explanation:

Personal selling is one of the methods used by salespeople to drive sales. It involves face-to-face interaction with customers who are persuaded to purchase the product.

This method relies heavily on effective communication mostly the two-way flow of communication.

Two-way flow of communication means that when a message is conveyed to the customer there is feedback to the salesperson. The feedback is used to decide the best course of action to be taken in order to complete the transaction

7 0
3 years ago
__________ is a type of segmentation in which the company strategically focuses on targeting a smaller market with particular ne
ludmilkaskok [199]

Answer:

niche marketing

Explanation:

Niche marketing -

It refers to as one of the subset of the market , which focus on certain products , is referred to as niche marketing . It is also known as small market segment .

It tries to focus on some specific needs of the market , the production and quality of the goods and services .

It tries to support smaller companies in order to live with the highly competitive market .

Hence , from the given scenario of the question ,

The correct answer is niche marketing .

7 0
3 years ago
Which is an example of a positive incentive for consumers
alex41 [277]

The answer is:  coupon clip from a newspaper.

The rest of the choices are not advantageous for the consumers. A sales tax is a portion of the company's sales deducted. For compensation, the company may increase their prices. A steady rise in profit could also mean high prices which bring in cash flow. Lastly, an increased price is not desirable for consumers.

8 0
3 years ago
Read 2 more answers
Cash receipts should be deposited on the day of receipt or the following business day. What is the most appropriate audit proced
BartSMP [9]

Answer:

The correct answer to the following question is option C) compare the daily cash receipts totals with the bank deposits.

Explanation:

When cash receipts are received by a company, it is often deposited in bank on the bank the same day they are received or they should be deposited the following business day. If a auditor or a manger or owner wants to make sure that the cash is promptly deposited everyday, then one way in which he or she can make sure that this is happening promptly is by comparing the daily cash deposits with the bank deposits or bank statements, through this procedures a person comparing them would come to know of any discrepancy in cash deposit, if it exist.

4 0
3 years ago
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