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2 years ago

When the government levies taxes to subsidize the producers of corn-based sugar, the subsidies will?

1 answer:

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I would say the subsidies for corn-based sugar will result in more of that sugar being produced and therefore sales should increase and the government should benefit by more tax revenue in the long run to offset the cost of the subsidies.

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Diego, age 28, married Dolores, age 27, in 2017. Their salaries for the year amounted to $88,750 and they had interest income of

viva [34]

Answer and Explanation:

a. What is the amount of their adjusted gross income?

Adjusted Gross Income ( AGI ) = $88,750 + $2,660 - $5,170

= $86,240

Adjusted Gross Income ( AGI ) = $86,240

b. In order to minimize taxable income, Diego and Dolores will in the amount of

From the above box, Here Diego, Dolores both are married so, Standard Deduction in 2017 is $12,700

In order to minimize taxable income, Diego and Dolores will in the amount of $12,700

c. What is the amount of their taxable income?

Taxable income = AGI - Standard deduction - exemptions

= $86,240 - 12,700 - [ 2 * $4,050 ]

= 73,540 - 8,100

= $65,440

Taxable income = $65,440

d. What is their tax liability for 2017?

from Tax bracket for married filling jointly in 2017 table.

Tax liability = [ 18,650 * 10% ] + [ 15% [ 65,440 - 18,650 ] ]

= 1,865 + [ 15% * 46,790 ]

= 1,865 + 7,018.5

= $8,883.5

Tax liability = $8,883.5

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3 years ago

What is Benartzi's solution to all of these behavioral challenges that effect personal finance? How does improved personal finan

prohojiy [21]

A leading behavioral economist shows how businesses can improve consumer thinking and decision making on screens. acclaimed behavioral economist shlomo bernatzi reveals a toolkit or interventions for the digital age. using provocative case studies and engaging reader exercises.

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2 years ago

What are Logistics careers?

mixer [17]

Crucial to the supply chain of any business, logistics involves the timely delivery of freight and goods from one place to another, as well as the unloading and unpacking of this cargo. Logistics workers may perform duties including inventory control, pricing and ticketing, and merchandise assembly.

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2 years ago

The business market consists of all the organizations that acquire goods and services used in the production of other products o

RideAnS [48]

Answer:

The major types of industries that make up the business market are agriculture industry, forestry industry, mining industry, manufacturing industry ; construction industry and transportation industry; communication industry, banking, finance and insurance industry.

Explanation:

a) Agricultural industry entails group of firms involving in rearing of animal and growing of both cash crop or food crop either majorly for commercial purpose / use

b) Forestry industries are group of firm who specialize in afforestation and deforestation of trees with a goal of maintaining environmental well-being, majorly for commercial purpose

c) Mining industry are industry who specialize in extraction from the soil raw materials required by other industries. Extraction like crude oil, Coal

d) Manufacturing industry are group of firm whose main objectives is to process raw material into finish good for use by the market and for commercials industry.

e) Transport industry are industry that specialize in movement of people and cargo from one destination to another through land, rail, sea or road

f) Construction industry specializes in buildings of building, roads, bridges and other structure for commercial

and personal use.

g) Communication industry specializes in enabling individual to transmit information from his end to another end.. It ranges from Media to Internet and Phone as all these fall under communication community.

h) Banking, Finance and Insurance industry are industry who accept deposit, gives loans to organisation, provide insurance cover over a particular risk, offers organisation financial advice, offers audit.

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3 years ago

Clampett, Incorporated, converted to an S corporation on January 1, 2020. At that time, Clampett, Incorporated, had cash ($40,00

lana [24]

Answer:

$2,100

Explanation:

Particulars Fair market value Basis Differences

Inventory $60,000 $30,000 $30,000

Account receivables $40,000 $40,000 $0

Equipment $60,000 $80,000 ($20,000)

Taxable gain $10,000

Tax rate 21%

Built in gains tax $2,100 

So therefore, the built-in-gains tax that Clampett (Incorporated) will pay in 2021 is $2,100.

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2 years ago