User Account

All Pages

What is the tax liability

Assignment Help Accounting Basics
Reference no: EM132591449

Question - In 2019, a single person operates a business as a sole proprietorship. The business sells hammers on the internet. The business has revenues of $550,000 and expenses of 350,000, which includes $90,000 of wages. The individual also has a part-time job and earns $20,000. The individuals average tax rate is 24%, and the corporate tax rate is 21%. If the business operates as a C corporation, what is the 2019 tax liability?

Reference no: EM132591449

Questions Cloud

Explain whether your persuasion strategies are ethical : Imagine that you are in charge of developing a campaign advertisement for a political candidate. The important topics surrounding the election include.
How would reposition the product in the cusomer mind : Discuss a product you like that you believe more people should purchase. As a marketer, how would you reposition the product in the cusomer's mind.
What are the ethical issues involved in psychologists : What are the ethical issues involved in psychologists taking a public stance on a controversial issue? What specific General Principles apply to this issue?
Identify two consumer products sold in a grocery store : Identify two consumer products sold in a grocery store or by a mass merchandiser such as Walmart. Explain the strategies used to introduce
What is the tax liability : The individuals average tax rate is 24%, and the corporate tax rate is 21%. If the business operates as a C corporation, what is the 2019 tax liability
What is it about situation that makes that lie morally right : According to Kant, lying is inherently morally wrong, thus it is never morally permissible. Is Kant correct about this? Either defend Kant's claim that lying.
Parents should be more responsible for their kids'' diet : Parents should be more responsible for their kids' healthy diet. Discuss - Discuss both sides and give your opinion
Illustrate the fraud triangle model : Illustrate the fraud triangle model, and why it is important for the auditor to consider in his audit process
Prepare the adjusting journal entry to record depreciation : Prepare the necessary December 31, 2014, adjusting journal entry to record depreciation assuming Delta uses

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