E-Ans:$6715
As Per the Provisions of the act, The Client meals and
Entertainment Expenses is allowed only 50% of the total expenses
and other 50% is disallowed
SO Tax cost 7900*50%*30%=$1185
After tax cost=$7900-$1185=$6715
Need help calculating E, please show work. Assuming a 30 percent marginal tax rate, compute the...
please help thanks!
Hank started a new business, Hank's Donut World (HW for short), in June of last year. He has requested your advice on the following specific tax matters associated with HW's first year of operations. Hank has estimated HW's income for the first year as follows: (Do not round intermediate calculations.) $ 284,000 88,830 $ 372,830 Revenue: Donut sales Catering revenues Expenditures: Donut supplies Catering expense Salaries to shop employees Rent expense Accident insurance premiums Other business expenditures...