None Edward began operating his own landscaping business as a teenager, learning about costs on day 1: lawnmowers require gas and oil,and they also require maintenance! In time, he used his experience to adjust his rate of pay to $17/hour, to better cover his costs. Heworked a total of 460 hours this year in his business and recognized expenses of $4,100.(a1) How much profit did Edward earn this year?Profit$(a2) Would part of his expenses include COGS/cost of sales?His expensesinclude COGS.

Question (a1)Step 1:Edward earned $17 per hour and worked 460 hours in total. Therefore, his total…

Answered: Edward began operating his own…

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter6: Deductions And Losses: In General

Section: Chapter Questions

Problem 46P

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If you are able to please explain each step and bold the answers.
This year Evan graduated from college and took a job as a deliveryman in the city. Evan was paid a salary of $78,300 and he received $700 in hourly pay for part-time work over the weekends. Evan summarized his expenses as follows: Cost of moving his possessions to the city (125 miles away) Interest paid on accumulated student loans Cost of purchasing a delivery uniform Contribution to State University deliveryman program $1,200 3,000 1,600 1,400 Calculate Evan's AGI and taxable income if he files single. Assume that interest payments were initially required on Evan's student loans this year. Evan's AGI Taxable income
What is her return on investment for this General Accounting Question?
What is her return on investment for this financial accounting question?
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate Seiko's current salary is $98,500. Her marginal tax rate is 32 percent and she fancies European sports cars. She purchases a new auto each year. Seiko is currently a manager for Idaho Office Supply. Her friend, knowing of her interest in sports cars, tells her about a manager position at the local BMW and Porsche dealer. The new position pays only $87,100 per year, but it allows employees to purchase one new car per year at a discount of $17700. This discount qualifies as a nontaxable fringe benefit. In an effort to keep Seiko as an employee, Idaho Office Supply offers her a $12.400 raise. Answer the following questions about this analysis. b-1. Financially, which offer is better for Seiko on an after-tax basis? Car dealer's offer O Current employer's offer OBoth offers b-2. By how much is the offer better for Seiko on an after tax basis (Assume that Seiko is going…
Income Profile Adjusted Budget Employment Income Interest/Dividends Other TOTAL INCOME Essential Expenses Mortgage/Rent Utilities Telephone Groceries Child Care Pet Care Clothing Transportation Gas/Fuel Insurance Health club dues Life Insurance Medicine Veterinarian Savings Non-Essential Expenses Entertainment Dining Out Vacation Subscriptions Other TOTAL Expenses Surplus/Shortage
During the current year, Jobul Krist has the following costs: Utilities Maintenance And Repairs Property Taxes House Insurance Interest On Mortgage Repainting And Rewiring The Work Space In The Home Home Internet Service Fees Home Telephone: Monthly Charge Employment/Business Related Long Distance Charges $2,400 4,600 5,200 A. He is an employee with $250,000 in income (no commissions). He is an employee with $250,000 in commission income. B. C. He is self-employed and earns $250,000 in business income. 2,300 7,800 1,000 960 600 390 Mr. Krist is a workaholic with no family, friends, pets, or personal interests. He estimates that he uses 25 percent of his residence and 95 percent of his home phone and home internet service for employment/business related purposes. Maximum CCA on 100 percent of the house would be $12,000. Determine the maximum deduction that would be available to Mr. Krist assuming:
gross income?
please help me
Please Correct answer With Explanation
Consider the following scenario in relation to your Notary, Loan Signing Agent and Marriage officiant practice in Hawaii and determine the opportunity cost of leaving your job to become an entrepreneur. You currently make $90,000 per year at your job plus benefits (equal to 30% of your salary). On January 1 of the New Year, you start your own business. After the first year, your accountant informs you that you made $45,000 and out of that you paid $6,000 for health insurance. What was your opportunity cost? If your opportunity cost is higher than you would like, how can you lower your opportunity cost in the future years?
LaMont works for a company in downtown Chicago. The firm encourages employees to use public transportation (to save the environment) by providing them with transit passes at a cost of $270 per month. a. If LaMont receives one pass (worth $270) each month, how much of this benefit must he include in his gross income each year? b. If the company provides each employee with $270 per month in parking benefits, how much of the parking benefit must LaMont include in his gross income each year?

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