In 2018, Gray Corporation, a calendar year C corporation, has a $75,000 charitable contribution carryover from a gift made in 2013. Gray is contemplating a gift of land to a qualified charity in either 2018 or 2019. Gray purchased the land as an investment five years ago for $100,000 (current fair market value is $250,000). Before considering any charitable deduction, Gray projects taxable income of $1,000,000 for 2018 and $1,200,000 for 2019. Should Gray make the gift of the land to charity in 2018 or in 2019?
a. If Gray makes the gift of the land to charity in 2018:
The amount of the deduction would be $ and the corporation is able to use $ of the $75,000 carryover. Therefore, Gray has a $ carryover to 2019, of which $ would be used in 2019,
b. If Gray waits and makes the gift of the land to charity in 2019:
The corporation would have $ carryover from 2013 and $ carryover from 2018. In 2019, the amount of the deduction would be $ and the excess of $ would carryover to 2020.
c. Therefore, Gray should make the gift of the land to charity in .

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall

Josie just bought her first fish tank a 36 -gallon glass aquarium, which she’s been saving up for almost a year to buy. for josie, the fish tank is most likely what type of purchase

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