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Individual taxpayers who don't itemize their deductions are entitled to a standard deduction amount by which to decrease ADJUSTED GROSS INCOME in arriving at taxable income. Amount of the standard deduction varies by the type of taxpayer and changes each year. A schedule of standard deductions is simply found in the instructions for the federal form 1040. Every state may also use a standard deduction format though the amounts and computations differ from federal and from state to state. Certain taxpayers may not be entitled to use the standard deduction. An illustration of this would be a married filing separate taxpayer. If one taxpayer itemizes then other is needed to by law even if the married filing separate taxpayer is unknowing of what is included on spouses separate return. A reason for this may be the prevention of pooling and duplication of deductions.
For this assignment you are acting as a financial analyst for Apple Inc. Apple Inc. Is one of the most innovative companies worldwide. For example, in November 2012 Apple sold 3 mi
Promissory Note - Evidence of a DEBT with specific amount due and interest rate. Note may specify a maturity date or it may be payable on demand. Promissory note may or may not acc
Calculate breakeven in sales units and in sales value: Tycoon makes and sells 600 toy cars per month. Each toy car is sold for RM40 each. Tycoon is currently producing at 50
Tubby is a retailer that buys and sells handmade robotic toys. He buys a basic prototype and then programs it to do all sorts of unique tricks. The following information was provi
As a borrower, which of the following two 30 year, monthly payment loans would you choose (and why) if you had a 10 year expected payment horizon: 5% interest rate with 3.5 points,
Accounting treatment of deferred tax The objective of accounting for deferred tax is to ensure that the profits for the period d onto fluctuate due to temporary differences. To a
I need help with a mini accounting project. Here is a link to the questions I need answers to. Read the questions and instructions and if you think you can complete the case within
On April 10, ABC inc. Enters in a swap contract for 10 years with a chartered bank to turn a fixed rate on liability of $150 million to floating rate. ABC wants to receive interest
The Caltor Company gathered the following condensed data for the Year Ended December 31, 2010. Cost of goods sold $ 710,000 Net sales 1,279,000 Administrative expenses 239,000 I
Jaedan Industries has the following account balances as of December 31, 2010. The firm's dividend payout ratio is 25% and the tax rate is 34%. The firm's stock price on December
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