Net income from sole proprietorship
Sam has $80,000 of net income from his sole proprietorship. What is his deduction for AGI for self-employment taxes?
1. $12,240
2. $11,304
3. $6,120
4. $5,652
5. None of the above.
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John has a 20% stake in the Partnership and receives no distributions from the partnership during the year. He has a $55,000 basis in her partnership interest at the end of the year after all income/loss items have been passed through to her.
Neither has any dependents nor itemized deductions. Based only on tax considerations, what marriage date would you recommend for the loving couple? How much would your choice save in taxes?
Carol owns 40% of CJ Partnership. The partnership reports $170,000 of revenue, $60,000 cost of goods sold, and $70,000 of other expenses that include $1,500 of doctor bills paid for Carol, a $2,000 charitable contribution, and a $5,000 Section 179
Trudi Corporation has a building that it needs to sell or exchange because of growth in its business. If Trudi sells the building, it will have a gain of $450,000. What is the amount of taxes that Trudi will avoid paying if it can exchange the bui
According to national income accounts, investment always equals savings in a closed economy. only in equlibrium would savings be equal to investment. hence, we are always in equlibrium.
Annual administration salaries, fixed selling costs, and planned advertising expenditures are $300,000, $360,000 and $600,000, respectively. Judd's furniture Limited makes these expenditures in equal monthly amounts.
Discuss at least four characteristics of a good business. Identify and talk about at least four companies that you regard as having the characteristics.
What is the intercept value on the Price axis? At what value does the curve cross the Quantity axis? What is the Total Revenue function?
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