In order to meet the "test for deducting an expense, everything necessary to establish the liability giving rise to the deduction" must have occurred, and the business must be able to determine the of the liability with reasonable accuracy.

At the end of the year, blossom co. has pretax financial income of $561,000. included in the $561,000 is $73,000 interest income on municipal bonds, $25,000 fine for dumping hazardous waste, and depreciation of $64,400. depreciation for tax purposes is $48,300. compute income taxes payable, assuming the tax rate is 30% for all periods.

Which statement is true of both presidential and parliamentary systems of government? a. the executive branch operates independently from the legislative branch. b. the members of the legislative branch are directly elected by the people. c. the head of government is chosen by members of his or her political party. d. the head of government is directly elected by the people

If a seller prepaid the taxes of $4,400 and the closing is set for may 19, using the 12 month/30 day method what will the buyer owe the seller as prorated taxes?