Business, 23.01.2020 06:31 princessmaddiegigi

Timing of deductions. virginia is a cash-basis, calendar-year taxpayer. her salary is $20,000, and she is single. she plans to purchase a residence in 2017. she anticipates her property taxes and interest will total $7,200. each year, virginia contributes approxi- mately $1,000 to charity. her other itemized deductions total approximately $800. for purposes of this problem, assume that 2017 tax rates, exemptions, and standard deduc- tions are the same as for 2016.

a. what will her gross tax be in 2016 and 2017 if she contributes $1,000 to charity in each year?

b. what will her gross tax be in 2016 and 2017 if she contributes $2,000 to charity in 2016 but makes no contribution in 2017?

c. what will her gross tax be in 2016 and 2017 if she makes no contribution in 2016 but contributes $2,000 in 2017?

d. alternative c results in a lower tax than either a or b. why?

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 21:10

Match the terms with their correct definition. terms: 1. accounts receivable 2. other receivables 3 debtor 4. notes receivable 5. maturity date 6. creditor definitions: a. the party to a credit transaction who takes on an obligation/payable. b. the party who receives a receivable and will collect cash in the future. c. a written promise to pay a specified amount of money at a particular future date. d. the date when the note receivable is due. e. a miscellaneous category that includes any other type of receivable where there is a right to receive cash in the future. f. the right to receive cash in the future from customers for goods sold or for services performed.

Answers: 1

Answer

Business, 22.06.2019 22:30

Upper a report about the decline of western investment in third world countries included this: "after years of daily flights comma several european airlines halted passenger service. foreign investment fell 400 percent during the 1990 s." what is wrong with this statement? choose the correct answer below. a. if foreign investment fell by 100 % comma it would be totally eliminated comma so it is not possible for it to fall by more than 100 %. b. the actual amount of the decrease in foreign investment is less than 100%. c. if foreign investment fell by 100%, it would be cut in half. thus, a decrease of 200% means that it would be totally eliminated, and a decrease of more than 200% is impossible. d. the statement does not mention the initial amount of foreign investment.

Answers: 3

Answer

Business, 22.06.2019 23:50

Analyzing operational changes operating results for department b of delta company during 2016 are as follows: sales $540,000 cost of goods sold 378,000 gross profit 162,000 direct expenses 120,000 common expenses 66,000 total expenses 186,000 net loss $(24,000) suppose that department b could increase physical volume of product sold by 10% if it spent an additional $18,000 on advertising while leaving selling prices unchanged. what effect would this have on the department's net income or net loss? (ignore income tax in your calculations.) use a negative sign to indicate a net loss answer; otherwise do not use negative signs with your answers. sales $answer cost of goods sold answer gross profit answer direct expenses answer common expenses answer total expenses answer net income (loss) $answer

Answers: 1

Answer

Business, 23.06.2019 07:50

Aeuropean aircraft producer has spent 15 years in developing a new aircraft that would potential threaten long-lasting boeing's dominance (monopoly) in the same class of aircrafts. the new european aircraft gets high marks on all performance measures except noise. because of the noise, the european producers management is concerned that the us government may impose restrictions which would forbid their aircraft to land in some of the american airports. without restrictions the estimated (present discounted) profit would be 125 million usd. with the restrictions the profit would only be 25 million usd. the chances of both outcomes are estimated to be 50-50. management must decide now whether to the cost of redesign program problem and a 60% chance it will fail. should the european aircraft producer start the noise redesign program if they do not have any redesign parts of the aircraft to solve the noise problem. is 25 million usd. there is a 40% chance that redesign will solve the noise additional information than mentioned above? draw the decision tree, indicate probabilities and outcomes of the events * imagine that the company could find out in advance the outcome of the u.s. government's e find the expected value of perfect information about the u.s. government's decision. decision. draw a new decision tree, indicate probabilities and outcomes of the events.

Answers: 3

Answer

You know the right answer?

Timing of deductions. virginia is a cash-basis, calendar-year taxpayer. her salary is $20,000, and s...

Questions