6.Assume Sarah is a cash-method calendar-year taxpayer. She made a $2,500 contribution to the mayor’s re-election...
6.Assume Sarah is a cash-method calendar-year taxpayer. She made a $2,500 contribution to the mayor’s re-election campaign. What is the after-tax cost of this payment assuming she has a 25 percent marginal tax rate?
Homework Answers
Business expenditure are those expenses which are incurred for the smooth working of the business. These expenses may directly or indirectly affect the cash inflow, outflow, productivity and profit/loss of the business. ie the cost related to cost of goods or services sold.
Contribution to Mayer's re-election is not deductible expense. It cannot be included in charitable donations and also its not directly or indirectly affecting the cost of goods sold.
The contributions that influence legislation, then anything associated with that work is not a tax-deductible expense.
Add Answer to:
6.Assume Sarah is a cash-method calendar-year taxpayer. She made
a $2,500 contribution to the mayor’s re-election...
4.Assume Sarah is a cash-method calendar-year taxpayer. She made a $3,000 payment for next year’s property...
4.Assume Sarah is a cash-method calendar-year taxpayer. She made a $3,000 payment for next year’s property taxes on her place of business. What is the after-tax cost of this payment assuming she has a 25 percent marginal tax rate?
5.Assume Sarah is a cash-method calendar-year taxpayer. She made a $400 payment for dinner with out-of-town...
5.Assume Sarah is a cash-method calendar-year taxpayer. She made a $400 payment for dinner with out-of-town clients during contract negotiations. What is the after-tax cost of this payment assuming she has a 25 percent marginal tax rate?
Required information The following information applies to the questions displayed below. Assume Sarah is a cash-method,...
Required information The following information applies to the questions displayed below. Assume Sarah is a cash-method, calendar-year taxpayer, and she is considering making the following cash payments related to her business. Calculate the after-tax cost of each payment assuming she has a 25 percent marginal tax rate. (Do not round intermediate calculation.) b. $5,600 to reimburse the cost of meals incurred by employees while traveling for the business. After-tax cost Required information The following information applies to the questions displayed...
Christopher is a self-employed cash-method, calendar-year taxpayer, and he made the following cash payments related to...
Christopher is a self-employed cash-method, calendar-year taxpayer, and he made the following cash payments related to his business this year. Calculate the after-tax cost of each payment assuming Christopher has a 37 percent marginal tax rate. c. $600 for office supplies in May of this year. He used half of the supplies this year and he will use the remaining half by February of next year.
QUESTION 1 Isabel, a calendar year taxpayer, uses the cash method of accounting for her sole...
QUESTION 1 Isabel, a calendar year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received a $21,000 bill from her accountant for consulting services related to her small business. Isabel can pay the $21,000 bill anytime before January 30 of next year without penalty Assume her marginal tax rate is 32 percent this year and next year, and that she can earn an afer-tax rate of return of 6 percent on her investments....
Christopher is a cash-method, calendar-year taxpayer, and he made the following cash payments related to his...
Christopher is a cash-method, calendar-year taxpayer, and he made the following cash payments related to his business this year. Calculate the after-tax cost of each payment assuming he has a 37 percent marginal tax rate. (Do not round intermediate calculations and round your final answer to the nearest dollar amount.) Problem 9-50 Part-c c. $1,350 for office supplies in May of this year. He used half of the supplies this year and he will use the remaining half by February...
1.0Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late...
1.0Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received a $21,000 bill from her accountant for consulting services related to her small business. Isabel can pay the $21,000 bill anytime before January 30 of next year without penalty. Assume her marginal tax rate is 37 percent this year and next year, and that she can earn an after-tax rate of return of 8 percent on her investments. What is the...
Reese, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late...
Reese, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received a $30,000 bill from her accountant for consulting services related to her small business. Reese can pay the $30,000 bill any time before January 30 of next year without penalty. Assume Reese’s marginal tax rate is 24 percent this year and will be 32 percent next year, and that she can earn an after-tax rate of return of 8 percent on...
St Required information of 4 [The following information applies to the questions displayed below.] Assume Sarah is...
St Required information of 4 [The following information applies to the questions displayed below.] Assume Sarah is a cash-method, calendar-year taxpayer, and she is considering making the following cash payments related to her business. Calculate the after-tax cost of each payment assuming she is subject to 37 percent marginal tax rate. (Do not round intermediate calculation.) int c. $1,400 for football tickets to entertain out-of-town clients during contract negotiations. After-tax cost <Prev 15 16 of 23 Next > ere to...
Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late...
Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received a $80,000 bill from her accountant for consulting services related to her small business. Isabel can pay the $80,000 bill anytime before January 30 of next year without penalty. Assume her marginal tax rate is 37 percent this year and next year, and that she can earn an after-tax rate of return of 6 percent on her investments. b. What is...
Required information The following information applies to the questions displayed below. Assume Sarah is a cash-method, calendar-year taxpayer, and she is considering making the following cash payments related to her business. Calculate the after-tax cost of each payment assuming she has a 25 percent marginal tax rate. (Do not round intermediate calculation.) b. $5,600 to reimburse the cost of meals incurred by employees while traveling for the business. After-tax cost Required information The following information applies to the questions displayed...
QUESTION 1 Isabel, a calendar year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received a $21,000 bill from her accountant for consulting services related to her small business. Isabel can pay the $21,000 bill anytime before January 30 of next year without penalty Assume her marginal tax rate is 32 percent this year and next year, and that she can earn an afer-tax rate of return of 6 percent on her investments....
St Required information of 4 [The following information applies to the questions displayed below.] Assume Sarah is a cash-method, calendar-year taxpayer, and she is considering making the following cash payments related to her business. Calculate the after-tax cost of each payment assuming she is subject to 37 percent marginal tax rate. (Do not round intermediate calculation.) int c. $1,400 for football tickets to entertain out-of-town clients during contract negotiations. After-tax cost <Prev 15 16 of 23 Next > ere to...
Most questions answered within 3 hours.
-
Hello, I have questions on Matlab. Let's say that I have an
equation. Signal x(t)= cos(2*pi*10*t)...
asked 4 minutes ago -
Fermentation carried out by year cells will produce
1. glucos
2. ethanol
3. phsophoglyceraldehyde
4. 36...
asked 5 minutes ago -
iodination of vanillin
experiment
1. Briefly explain why the
iodination took place at the indicated position...
asked 8 minutes ago -
create a class in Java for a Plane
the class will include
String Data Fields for...
asked 7 minutes ago -
A jewellery material consists of 92.5 wt% of Au and 7.5 wt% of
Cu forming a...
asked 11 minutes ago -
A uniform magnetic field B=5.210 T is perpendicular to the plane
of the paper (into the...
asked 18 minutes ago -
A metal strip 8.80 cm long, 0.758 cm wide, and 0.594 mm thick
moves with constant...
asked 19 minutes ago -
The following 32-bit binary word written in hexadecimal format
represents a single RISC-V assembly instruction. What...
asked 23 minutes ago -
A
survey found that out of a random sample of 200 workers 168 said
that they...
asked 34 minutes ago -
Duck Dodgers hops in his spaceship and leaves the Earth at a
constant velocity of 0.6c...
asked 36 minutes ago -
Describe three
key HR functions that must be integrated into the performance
management system to support...
asked 44 minutes ago -
What is the incident wavelength in meters in IR instrument?
asked 1 hour ago