subject
Business, 02.10.2019 03:10 Samsonb

Tim is a single, cash-method taxpayer with an agi of $50,000. in april of this year, tim paid $1,100 with his state income tax return for the previous year. during the year, tim had $5,050 of state income tax and $17,850 of federal income tax withheld from his salary. in addition, tim made estimated payments of $1,190 and $1,880 of state and federal income taxes, respectively. finally, tim expects to receive a refund of $465 for state income taxes when he files his state tax return for this year in april next year. what is the amount of taxes that tim can deduct as an itemized deduction?

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 21.06.2019 17:10, evelyng58
Suppose you have just been hired as the chief diversity officer of a large company. previous mentoring programs at this company have not been successful. after inquiring about previous efforts, you discover that most mentor pairs met just a few times, but very few lasting or meaningful mentoring relationships were created. there were also a significant number of employees that did not even attempt to seek out a mentor relationship. which of the following may be a reason why prior mentoring programs at your company failed? check all that apply. a) minorities and women are much less likely to develop mentoring relationships than white malesb) mentoring is not an effective way for organizations to develop female and minority employeesc) due to specific laws governing appropriate workplace behavior, senior-level male executives were reluctant to cultivate mentoring relationships with female employees, fearing negative repercussionsd) fear of creating a future competitor within the company, senior-level female executives were hesitant to mentor other female employees
Answers: 3
image
Business, 22.06.2019 12:00, kaylallangari549
In the united states, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. in the united kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. the united kingdom has a comparative advantage in the production of:
Answers: 2
image
Business, 22.06.2019 18:00, Elephants12
What would not cause duff beer’s production possibilities curve to expand in the short run? a. improved manufacturing technology b. additional resources c. increased demand
Answers: 1
image
Business, 22.06.2019 20:20, Hi123the
Garcia industries has sales of $200,000 and accounts receivable of $18,500, and it gives its customers 25 days to pay. the industry average dso is 27 days, based on a 365-day year. if the company changes its credit and collection policy sufficiently to cause its dso to fall to the industry average, and if it earns 8.0% on any cash freed-up by this change, how would that affect its net income, assuming other things are held constant? a. $241.45b. $254.16c. $267.54d. $281.62e. $296.44
Answers: 2
You know the right answer?
Tim is a single, cash-method taxpayer with an agi of $50,000. in april of this year, tim paid $1,100...

Questions in other subjects:

Konu
Mathematics, 31.01.2021 18:50
Konu
Mathematics, 31.01.2021 19:00