Abalone corporation, an accrual basis taxpayer, was formed and began operations on september 1, 2018. the following expenses were incurred during the first tax year (september 1, 2018 to december 31, 2018) of operations: expenses of temporary directors and of organizational meetings - $ 10,000; fee paid to the state of incorporation - $1,600; accounting services incident to organization - $6,800; legal services for drafting the corporate charter and bylaws - $2,000; expenses incident to the printing and sale of stock certificates - $8,000 (total - $28,400). assume abalone corporation makes an appropriate and timely election under section 248(c) and the related regulations. what is the maximum organizational expense abalone may write off for tax year 2018?

Oceanside marine company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. oceanside uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 2 pound per unit; $ 11 per pound direct labor: 2 hours per unit; $ 19 per hour oceanside produced 2 comma 000 units during the quarter. at the end of the quarter, an examination of the direct materials records showed that the company used 7 comma 500 pounds of direct materials and actual total materials costs were $ 98 comma 100. what is the direct materials cost variance? (round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)

The 39 percent and 38 percent tax rates both represent what is called a tax "bubble." suppose the government wanted to lower the upper threshold of the 39 percent marginal tax bracket from $335,000 to $208,000. what would the new 39 percent bubble rate have to be? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

When partners own different portions of the business, the terms should be stated clearly in what document? the articles of incorporation the executive summary the business summary the partnership agreement