Mark and Mary are a married couple who will file a joint return in 2021. They have $350,000 in Box 1 wages and $100,000 in long term capital gains income. Assuming they use the standard deduction, what is their tax on Line 16 of the 1040 form?
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- Income taxes have the effect of Select one : a decreasing the cost of capital for the firm. B. None of these c. decreasing the cost of debt. D. increasing the cost of debtJosh has a health insurance policy with a $2,500 deductible, $5,000 out of pocket limit, and 80/20 coinsurance clause. He had total medical bills of $20,000 for the policy period. How much does the insurer have to pay? $5,000 $14,000 $6,000 $15,000Under federal law, a tax exempt Health Savings Account can only be opened for an individual who is Ο Α. covered by a qualified High Deductible Health Plan covered by Long Term Care Insurance entitled to Medicare benefits eligible to be claimed as a dependent on another person's tax return B. OC. O D.
- Explain in detail the similarities and differences between the following types of annuities: a.SPIA b.SPDA c.FPDA d.Why no FPIA?what does it means to be a “remainderman” of a life estate interest. Can this interest be sold?What are the advantages and limitations of residual income (RI) as a performance measure?
- Chord Motor Company Chord traces its roots back to 1896 when Harry Chord built and marketed his first quadricycle, a 4-wheel vehicle with a 4-horsepower engine. It was not until 1901, however, that Chord started his own car company, named the Henry Chord Company. He started Chord Motor Company in 1902 with 12 investors and $28,000 in cash. Interestingly, two of Chord’s first investors in his new company were Jenny and Hudge Kodge, who later would start their own car company, called Kodge. Chord had spent nearly the entire initial investment when his first car was sold in July 1903. It did not take the Chord Motor Company long, though, to start making large profits. By October 1903, Chord had turned a profit of $37,000, indicating just how popular this new equipment was going to become. The company was incorporated in 1903. Henry Chord is world famous for his assembly line but for the first 10 years of the company, two to three men worked on each car, and the parts were supplied by…In 2019 Lisa and Fred a married couple had taxable income of $312000, if they were to file seperate returns Lisa would have reported taxable income of $129,000 and Fred would have reported taxable income of 183,000. What is the couple's marriage penaty or benefit?A Delaware LLC wanted to acquire a 300,000 square foot class “A” office building in Philadelphia for $150 per square foot that was 77% leased. Wells Fargo agreed to fund a purchase money mortgage loan with a maximum LTV of 60%. What is the minimum amount of equity that would be needed to close the acquisition? a. $45,000,000 b. $9,000,000 c. $18,000,000 d. $27,000,000
- 82) Which of the following is an example of an action done by a firm to conduct structuring? a) Stock buy-back b) Leveraged buy-out c) Either A and B d) Neither A nor bBill Matthews is investing $13,200 in the Washington Mutual fund. The fund charges a 5.75 percent commission when shares are purchased. Calculate the amount of commission Bill must pay.H5. Gabriella was in the business of purchasing sculptures from Brazil and selling them in Toronto at her boutique. On one consignment listed at $2,400, she received trade discounts of 9.00%, 7.00%, and 8.00%. The overhead expenses were 16.00% of her costs and she wanted to make a profit of 34.00% on cost. a. What is the regular selling price of the sculptures? b. Calculate the profit she will make if she decides to markdown the selling price by 16.00%. c. Calculate the maximum rate of markdown that she can offer so that she breaks even on the sale.