Anna bought $410,000 of furniture on August 7, 2014. On December 14, 2014, she purchased $160,000 of used computer equipment. If Anna elects $179, what is the maximum write-off for these purchases for 2014?
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- Sarah purchased a warehouse for £420,000 in September 2020. She sold a retail premises to Bettina for £152,000 in November 2020. How much Stamp Duty is payable on these transactions and by whom? £10,540 by Sarah O £21,000 by Sarah and £3,040 by Bettina O £10,500 by Sarah and E40 by Bettina O £24,040 by SarahLily graduated from UCSD in 2015. Right now she has an excellent job with a take-home income (after taxes) of $5,000 a month. The following is her financial situation: 1. She is single and shares an apartment with a roommate. Her monthly expenses in December 2020 were: Rent: Utilities (including cell phone): Food (including eating out) Car payment Gas Student loan payment Credit card payment Personal loan payment Clothing and personal items TOTAL Net loss of $450.00 As of December 31, 2020, what was Lily's net income for the month of December 2020? Express it in terms of a net gain or a net loss for the month. Net gain of $450.00 $1,400 600 600 No gain or loss No answer text provided. 500 200 1,100 500 300 250 $5,450Jessica spent $5,000 on a new energy-efficient tankless water heater in 2021. She claimed a $400 nonbusiness energy property credit when she replaced an identical unit in 2006. What is the amount of her 2021 non-business energy property borrowing?
- In 2021, Carlos drives from his home in Los Angeles to Oregon to consult with a client. He works for 1 day and spends 3 days enjoying Oregon since the consultation was right before a 3-day weekend. His expenses were $175 to drive to Oregon and back, $600 for lodging, $50 for food from a convenience store on the day that he worked, and $125 for restaurant food on the other 3 days. How much of his travel expenses are deductible? $800 b.$350 c.$0 d.$200 e.$175In 2021, Jeff spends $6,000 on solar panels to heat water for his main home. What is Jeff's credit for his 2021 purchases?How much must Johnson include in her gross income??
- Taryn would like to open a new business as an interior designer, to funds her ambition she sold some of thefollowing assets:1. Taryn sold her Harry Potter’s collection for the amount of $1,500 on 4’th January 2020, she bought itsecond hand on 10’th October 2018 for $350.2. Taryn sold her gold necklace for $2,000 on 20’th March 2020, she bought it for $1,200 on 8’th August20183. Taryn sold a sculpture for $6,000 on 1 January 2020, she bought it on December 1994 for $1500 Q. Identification and analysis of legal issues / legal question and relevant taxation law for each case and Accurate conclusions are reached from each case. Q. Identification of material facts on regard to each caseIn 2021, Luke spent $3,000 to replace the exterior windows of his main home with energy-efficient windows. The windows meet the Energy Star program requirements to qualify for the nonbusiness energy credit. This is the first year Luke has claimed this credit. What is the maximum credit amount he may claim? $200 $300 $500 $3,00020. Kelly runs a small business which she started on 1 May 2016 and draws up her first set of accounts to 31 January 2017. On 1 June 2016, she purchased a car for £12,500 which she uses 30% for business purposes. The car has CO2 emissions of 120 g/km. What are the capital allowances available to her for the period ended 31 January 2017? A £12,500 B £1,688 £675 .D £506
- Rowena is turning 65 in June 01, 2022. She wants to stop paying into CPP. As she gets paid twice a month and her gross pay is $3000 for every paycheck, what is her CPP contribution for 2022? ( well explain all point of question with proper address).Kim works for a clothing manufacturer as a dress designer. During 2020, she travels to New York City to attend five days of fashion shows and then spends three days sightseeing. Her expenses are as follows: Airfare $1,500 Lodging (8 nights) 1,920 Meals (8 days) 1,440 Airport transportation 120 Assume lodging/meals are the same amount for the business and personal portion of the trip ($240 per day for lodging and $180 per day for meals). If an amount is zero, enter "0". a. Determine Kim's business expenses, presuming no reimbursement. Airfare Lodging X Мeals Transportation X Total What amount may she deduct on her tax return? X Feedback b. Would the tax treatment of Kim's deduction differ if she was an independent contractor? The deductible expenses on her tax return would be $ X and the expenses would be classified as a deduction for AGI VThomas travels from his home in Massachusetts and flies to Paris to attend meetings related to his business. He plans to spend 10 days (including 2 travel days) conducting business and 4 days sightseeing for personal pleasure. His trip is primarily for business, Assume he has the following expenses: Airfare and rail pass Lodging per day Meals per day (a) $3,390 $303 $183 Your answer is incorrect. How much can Thomas deduct as a travel expense in 2023? (Round intermediate percentage calculations to O decimal places, eg. 15% and final answer to 0 decimal places, eg. 5.125) Deduction S 7335