Orie and jane, husband and wife, operate a sole proprietorship. they expect their taxable income next year to be $450,000, of which $250,000 is attributed to the sole proprietorship. orie and jane are contemplating incorporating their sole proprietorship. (use the tax rate schedule).
a. using the married-joint tax brackets and the corporate tax rate of 21 percent, find out how much current tax this strategy could save orie and jane.
b. how much income should be left in the corporation?

The following cost data relate to the manufacturing activities of chang company during the just completed year: manufacturing overhead costs incurred: indirect materials $ 15,800 indirect labor 138,000 property taxes, factory 8,800 utilities, factory 78,000 depreciation, factory 150,600 insurance, factory 10,800 total actual manufacturing overhead costs incurred $ 402,000 other costs incurred: purchases of raw materials (both direct and indirect) $ 408,000 direct labor cost $ 68,000 inventories: raw materials, beginning $ 20,800 raw materials, ending $ 30,800 work in process, beginning $ 40,800 work in process, ending $ 70,800 the company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. a total of 20,500 machine-hours were used during the year. required: 1. compute the amount of underapplied or overapplied overhead cost for the year. 2. prepare a schedule of cost of goods manufactured for the year.

Select the correct answerwhat is the responsibility of each of the twelve federal reserve's banks in their districts? a.they set the prime rateob.they monitor functioning of banks in their through onsite and offsite reviewsc.they assess taxes in their destnictd.they write fiscal policies

What is the state tax rate for a resident of arizona whose annual taxable income is $18,000?