User Account

All Pages

Determine the tax cost to Sally

Assignment Help Accounting Basics
Reference no: EM132657275

Problem - Sally purchased a new computer (5-year property) on June 1, 2019, for $4,000. Sally could use the computer 100% of the time in her business, or she could allow her family to use the computer as well. Sally estimates that if her family uses the computer, the business use will be 45% and the personal use will be 55%. Determine the tax cost to Sally, in the year of acquisition, of allowing her family to use the computer. Assume that Sally would not elect § 179 immediate expensing and that her marginal tax rate is 32%. She does not claim any available additional first-year depreciation.

Reference no: EM132657275

Questions Cloud

Price negotiations between medicare and drug manufacturers : Formulate an argument where you either support or challenge the effectiveness of allowing price negotiations between Medicare and drug manufacturers
What is the best month on average : Change your pivot table to show the average daily return by month for the entire period. What is the best month on average? Which is the worst?
Challenge effectiveness of allowing price negotiations : You either support or challenge the effectiveness of allowing price negotiations between Medicare and drug manufacturers in order to reduce overall costs
How do the various functional departments of an organization : How do the various functional departments of an organization use financial planning (i.e. marketing, operations, sales, executive management)
Determine the tax cost to Sally : Sally estimates that if her family uses the computer, the business use will be 45% and the personal use will be 55%. Determine the tax cost to Sally
Identify one aspect of big data and data mining : Identify one aspect of big data and data mining that is interesting to you. Explain the concept and how it might bring value to healthcare.
Discuss the clinical narrative provided : Discuss the clinical narrative provided here using the unfolding case study format to promote situated learning of clinical reasoning.
Revolving door laws prohibit public officials : "Revolving door" laws prohibit public officials from lobbying activities for one year after they leave office.
Compute Mary cost recovery deduction : She did not claim any available additional first-year depreciation. Compute Mary's cost recovery deduction and any cost recovery recapture for 2020

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd