User Account

All Pages

What is the correct amount that can be deducted on schedule

Assignment Help Accounting Basics
Reference no: EM132787802

A taxpayer is claiming tax preparation expense as a legal and professional fee. They paid $430 at your office last year. The forms breakdown by cost is as follows:

Form 1040- $100
Form Sch. C- $125
Form SE- $55
Form 8867- $75
Form 8863- $75

problem 1: What is the correct amount that can be deducted on their Schedule C for the current year?

a. $280

b. $180

c. $355

d. $430

Reference no: EM132787802

Questions Cloud

How to approach certain populations when seeking information : What special training, demeanor, and other conditions should be considered by the police department interviewers? Do not forget about proposing possible themes.
What is the most common reason the irs assesses penalties : What is the most common reason the IRS assesses penalties to preparers during an audit? Failure to obtain full documentation of Schedule C income
Describe all of the appropriate specialized personnel : For this Assignment, write a 3- to 5-page paper, excluding the title and reference pages, describing an imaginary crime scene of a mass disaster and planning.
Develop a policy regarding the three strikes laws : Develop a policy regarding the three strikes laws in the State of California. Address the following in your policy: What alternatives would be placed.
What is the correct amount that can be deducted on schedule : A taxpayer is claiming tax preparation expense, What is the correct amount that can be deducted on their Schedule C for the current year?
What will the impact on the company overall profitability : The company is considering closing Division B. What will be the impact on the company's overall profitability if Division B is closed
Describe the reason for the establishment of the visa type : Indicate the reason for the establishment of the visa type; relate your reasoning to the issues facing the immigrant subset population, and the reason(s).
Calculate the net present value : Twelve Inch Toes Corp. will invest $199,000 in a project that will not begin to produce returns until the fourth year. Calculate the net present value
How sensitive is OCF to changes in quantity sold : Consider a four-year project with the following information: initial fixed asset investment = $475,000; How sensitive is OCF to changes in quantity sold

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