Joan bought a business machine for $15,000 on january 1, 2013, and later sold the machine for $12,800 when the total allowable depreciation is $8,500. the depreciation actually taken on the tax returns totaled $8,000. joan must recognize a gain or loss ofa. no gain or lossb. $6,800c. ($3,200)d. $6,300

Which of the following best describes why you need to establish goals for your program?

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?

Which plan offers a tax-free education?