Contributions to charities are deductible from taxable income.To avail the deduction, the donations must be made in cash or property, allowing free use of taxpayer’s property for a charitable organization does not qualify for the deduction. Any out-of-pocket expenses related to qualified charitable activities are also deductible. To explain: The reason for charitable deduction at fair market value for donation of paining by B.
Contributions to charities are deductible from taxable income.To avail the deduction, the donations must be made in cash or property, allowing free use of taxpayer’s property for a charitable organization does not qualify for the deduction. Any out-of-pocket expenses related to qualified charitable activities are also deductible. To explain: The reason for charitable deduction at fair market value for donation of paining by B.
Solution Summary: The author explains that contributions to charities are deductible from taxable income. They explain the reason for charitable deduction at fair market value for donation of paining by B.
Introduction:Contributions to charities are deductible from taxable income.To avail the deduction, the donations must be made in cash or property, allowing free use of taxpayer’s property for a charitable organization does not qualify for the deduction. Any out-of-pocket expenses related to qualified charitable activities are also deductible.
To explain:The reason for charitable deduction at fair market value for donation of paining by B.
b
To determine
Introduction:Contributions to charities are deductible from taxable income.To avail the deduction, the donations must be made in cash or property, allowing free use of taxpayer’s property for a charitable organization does not qualify for the deduction. Any out-of-pocket expenses related to qualified charitable activities are also deductible.
The amount of charitable contribution deduction for B’s donation.
ABF's metal spare parts manufacturing company uses the customised production method by attributing the GST to the products it produces with the help of predetermined attribution coefficients. The processing of metal parts is carried out in two production departments: the Cutting and Drilling department, and the Assembly department. The GIS attribution coefficients for the two departments are based on the operating hours of machines and the cost of direct work respectively.
At the beginning of the year, the following budgets were implemented:
Cutting and Drilling Department
Assembly Department
Direct Labor Costs (in euros)
1.320.000
2.000.000
G.B.E. (in euros)
4.800.000
2.400.000
Machinery Operating Hours
80.000
5.000
Direct Work Hours
27.000
12.000
Requested:
To calculate the coefficient of attribution of the General Secretariat that will be used in each department.
To determine the production cost per unit for order 158 which was sold…
