User Account

All Pages

What amount can tony deduct

Assignment Help Accounting Basics
Reference no: EM132843599

Problem 1: Tony operates an illegal sports betting enterprise out of his Italian restaurant. Considering only the following expenses paid this year, what amount can Tony deduct?

Building rent = $24,000
Utilities = $12,000
Payments to off-duty policemen to provide security = $20,000
Bribes to health inspectors = $40,000

a. $96,000

b. $76,000

c. $56,000

d. $36,000

e. $0

Reference no: EM132843599

Questions Cloud

Briefly describe your community service experience : Briefly describe your community service experience. Describe specific examples of outreach and humanitarian work from your community service experience.
Which is a currently deductible trade or business expense : Which is a currently deductible trade or business expense? $10,000 fee paid to a marketing firm for a market analysis for a new business.
Describe the manager functional role in organization : Managers have the responsibility to oversee and influence the direction of an organization. Describe the manager's functional role in the organization.
How much of the investigation expenses can amber deduct : In July of the current year, Amber decides not to open a second fitness center. How much of the investigation expenses can Amber deduct in the current year?
What amount can tony deduct : What amount can Tony deduct? Tony operates an illegal sports betting enterprise out of his Italian restaurant. Bribes to health inspectors = $40,000.
Specific global market using your chosen entry strategy : Create a description of how you would enter a specific global market using your chosen entry strategy.
What amount can making money : Discuss future investment strategies with the new client. Food and drinks cost $1,500. What amount can Making Money 4 You deduct as meal expense?
How much is deductible as a repair expense : How much is deductible as a repair expense? Come Fly Away, Inc. owns helicopters that are used in a Grand Canyon tour business.
Does social capital improve economic development : Does social capital improve economic development? Using the available evidence to support your response. Discuss the question.

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