You are considering hiring another employee. The market rate for the employee is a $35,000 salary. How much would the company have to pay after-tax for this salary? Assume a corporate tax rate of 21% and Ignore payroll taxes.
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You are considering hiring another employee. The market rate for the employee is a $35,000 salary. How much would the company have to pay after-tax for this salary? Assume a corporate tax rate of 21% and Ignore payroll taxes.
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- Your employer asks you to consult on the better approach to a decision. What should the corporation pay for an asset that will return them $150,000 at the end of year 1, then zero in year 2, then $400,000 in years 3 & 4, then zero in year 5, then $200,000 in years 6-10, assuming their discount rate is 3% (ignoring taxes) ?explain thoroughly why there is no fringe benefit tax expense for the two middle staff or rank and file employeesYou've received two job offers from the same employer. Assume you have a 30% marginal tax rate. Option 1: Work at the corporate office, which provides you with access to the company gym (assume it qualifies as a non-taxable fringe benefit). Equivalent outside gym access would cost $20,000. Option 2: Work at a remote site would involve a reduction to your daily commute of 2 hours. Required: How much would Option 2 have to pay in order for it to deliver an equivalent after-tax payoff to option 1?
- The manager of Pharoah is given a bonus based on net income before taxes. The net income after taxes is $75980 for FIFO and $64500 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO?You are the manager of Coles Supermarkets Australia Pty Ltd that has an equal chance of earning either $20 000 or $40 000 before taxes. Your company is subject to a 20% tax rate on the first $30 000 and 35% on all income earned beyond that point. If you are offered a costless hedge to achieve guaranteed before-tax earnings of $30 000, what is the expected benefit to hedging?Assume XYZ has a marginal tax rate of 21 percent for the foreseeable future and earns an after-tax rate of return of 16 percent on its assets. Joel Johnson, XYZ's VP of finance, is attempting to determine what amount of deferred compensation XYZ should be willing to pay in five years that would make XYZ indifferent between paying the current salary of $18,400 and paying the deferred compensation. What amount of deferred compensation would accomplish this objective?
- How much will it owe in taxes on this financial accounting question?Suppose two workers earn labor incomes of $20,000 per year in each of two tax accounting periods. One worker saves 20% of her labor earnings in the first period and spends all of her savings and accumulated interest in the final period. The other worker never saves any of her labor earnings. The market rate of interest is 10%.' a. Calculate the discounted present value of taxes paid over the two periods for each of the workers under a 15% comprehensive income tax. b. Calculate the discounted present value of taxes paid over the two periods under a comprehensive consumption tax. c. Comment on the equity and efficiency aspects of each of the two taxes.A company has wants to earn an income of $60,000 after-taxes. If the tax rate is 32%, what must be the companys pre-tax income in order to have $60,000 after-taxes? A. $88,235 B. $19,200 C. $79,200 D. $143,000
- Jennifer, the manager of Pharoah Company is given a bonus based on net income before taxes. The net income is $51300 for FIFO and $42200 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus if FIFO is adopted instead of LIFO? $9100 O$18200 $2600 $13000Specialty Corp is a cash basis calendar-year taxpayer. The corporation has a 25 percent marginal tax bracket this year. It will receive an additional $5,000 this year if it bills its customers at the beginning of December. But if it bills its customers at the end of December, it will not receive the $5,000 until January of next year. If Specialty Corp’s marginal tax rate next year is estimated to be 15 percent, when would the company most likely bill its customers? Specialty Corp. would bill its customers at the beginning of December. Specialty Corp would bill its customers in the middle of December Specialty Corp would bill its customers at the end of December. It will not matter when the company bills its customers for tax purposesSpecialty Corp is a cash basis calendar-year taxpayer. The corporation has a 25 percent marginal tax bracket this year. It will receive an additional $5,000 this year if it bills its customers at the beginning of December. But if it bills its customers at the end of December, it will not receive the $5,000 until January of next year. If Specialty Corp’s marginal tax rate next year is estimated to be 34 percent, when would the company most likely bill its customers? Specialty Corp. would bill its customers at the end of December. Specialty Corp. would bill its customers at the beginning of December. Specialty Corp. would defer billing its customers until next year. Specialty Corp. would bill its customers in the middle of December.
