User Account

All Pages

Taxable income for the six months

Assignment Help Finance Basics
Reference no: EM131044536

Mars works busy season at Abby's Bed and Breakfast. His employer requires him to live in a spare room so that he is available to assist with breakfast and take care of any other needs of the guests on their arrival or during their stays. The room is valued at $600 per month for the 6 months he works there. During this time, his employer pays Walter a salary of $1,200 per month and gives him an additional $200 per month to help pay the cost of health insurance that Walter purchases for himself. The employer also supplies him with uniforms for work valued at $700. What is Mar's taxable income for the six months that he works at the bed and breakfast?

Reference no: EM131044536

Questions Cloud

Compose a persuasive message to pete pham : Compose a persuasive message to Pete Pham that will convince him to add new trucks to the fleet and to consider you for a management role in the growing business.
Average annual gross rentals : 1. Average annual gross rentals from nearby farms of similar acreage are $36,000. 2. Average annual state and local real estate taxes on the farm are $4,000. 3. The interest rate for loans from the Federal Land Bank is 8 percent.
What combinations of analytical and statistical process : HI6007 Assessment - What does the relevant literature in the field indicate about this problem? VARIABLES AND HYPOTHESES:
Repayment to obtain the best tax result : Potrus refused to return any of the advance payment, so the Art Institute sued. In 2008, Potrus was ordered by the court to repay $15,000. Potrus's net income was $426,000 in 2007 and $298,000 in 2008. How should Potrus treat the repayment to obta..
Taxable income for the six months : The employer also supplies him with uniforms for work valued at $700. What is Mar's taxable income for the six months that he works at the bed and breakfast?
Compute the npv and irr : Please compute the NPV and IRR for the following: Initial investment outlay of $40 million, consisting of $35 million for equipment and $5 million for net working capital (NWC) (plastic substrate and ink inventory); NWC recoverable in terminal year
What is the accounting break-even : What is the accounting break-even? What is the NPV break-even given a 35% corporate tax rate and with an opportunity cost of capital at 12%?
What does the experiment illustrate and why is it useful : In Daniel Pink's talk he refers to the candle and the box problem? What does this experiment illustrate and why is it useful for us to understand?
What is the mode number of the peak radiation : What is the spectral separation between the modes of the cavity at around 1300 nm? If the gain curve of the active layer has a width of about 30 nm how many modes are emitted by the laser?

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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