Business, 26.10.2019 04:43, mandilynn22
Dolly is a cash basis taxpayer. in 2018, she filed her 2017 south carolina income tax return and received a $2,200 refund. dolly took the standard deduction on her 2017 federal income tax return, but will itemize her deductions in 2018. molly, a cash basis taxpayer, also filed her 2017 south carolina income tax return in 2018 and received a $600 refund. molly had $12,000 in itemized deductions on her 2017 federal income tax return, but will take the standard deduction in 2018. how does the tax benefit rule apply to dolly’s and molly’s situations? explain.
Answers: 3
Business, 22.06.2019 10:50, iaminu50
Jen left a job paying $75,000 per year to start her own florist shop in a building she owns. the market value of the building is $120,000. she pays $35,000 per year for flowers and other supplies, and has a bank account that pays 5 percent interest. what is the economic cost of jen's business?
Answers: 3
Business, 22.06.2019 14:00, breana758
Bayside coatings company purchased waterproofing equipment on january 2, 20y4, for $190,000. the equipment was expected to have a useful life of four years and a residual value of $9,000. instructions: determine the amount of depreciation expense for the years ended december 31, 20y4, 20y5, 20y6, and 20y7, by (a) the straight-line method and (b) the double-declining-balance method. also determine the total depreciation expense for the four years by each method. depreciation expense year straight-line method double-declining-balance method 20y4 $ $ 20y5 20y6 20y7 total $
Answers: 3
Business, 22.06.2019 15:40, aroman4511
Rachel died in 2014 and her executor is finalizing her estate tax return. the executor has determined that rachel’s adjusted gross estate is $10,120,000 and that her estate is entitled to a charitable deduction in the amount of $500,000. using 2014 rates, calculate the estate tax liability for rachel’s estate.
Answers: 1
Dolly is a cash basis taxpayer. in 2018, she filed her 2017 south carolina income tax return and rec...
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