Jamal tried to apply for a mortgage. however, he was turned down for the loan because the loan officer noticed that he had made late payments to his credit card and he had not made payments on a loan. what questions should he have asked himself before deciding to buy a home?

a) do you have enough money saved up to cover two to three months of mortgage payments in case you lost your job?
b) do you have a steady income and stable job?
c) do you have a good credit report and credit score?
d) do you have enough money saved for a down payment and closing costs?

Agood for which demand increases as income rises is and a good for which demand increases as income falls is

James jones is the owner of a small retail business operated as a sole proprietorship. during 2017, his business recorded the following items of income and expense: revenue from inventory sales $ 147,000 cost of goods sold 33,500 business license tax 2,400 rent on retail space 42,000 supplies 15,000 wages paid to employees 22,000 payroll taxes 1,700 utilities 3,600 compute taxable income attributable to the sole proprietorship by completing schedule c to be included in james’s 2017 form 1040. compute self-employment tax payable on the earnings of james’s sole proprietorship by completing a 2017 schedule se, form 1040. assume your answers to parts a and b are the same for 2018. further assume that james's business is not a service business, and that it has $155,000 unadjusted basis in tangible depreciable property. calculate james's 2018 section 199a deduction.

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