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Individual taxpayers who don't itemize their deductions are entitled to a standard deduction amount by which to decrease ADJUSTED GROSS INCOME in arriving at taxable income. Amount of the standard deduction varies by the type of taxpayer and changes each year. A schedule of standard deductions is simply found in the instructions for the federal form 1040. Every state may also use a standard deduction format though the amounts and computations differ from federal and from state to state. Certain taxpayers may not be entitled to use the standard deduction. An illustration of this would be a married filing separate taxpayer. If one taxpayer itemizes then other is needed to by law even if the married filing separate taxpayer is unknowing of what is included on spouses separate return. A reason for this may be the prevention of pooling and duplication of deductions.
Question: The manager of Ben and Jerry's Ice Cream is told that the direct material quantity variance for cherries in Cherries Garcia Ice cream is favorable. What could explain thi
Q. Describe Passive Income? Passive Income - Includes income derived from such sources like dividends, royalties, interest, rents, amounts received from personal service contra
Contribution and indemnity Generally the trustees are jointly and severally liable to the beneficiaries and a trustee sued may claim contribution from the others where although
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Mason Co. issued $860,000 of 5 year, 13% with interest payable semiannually, at a market (efffective) interest rate of 12% Determine the present value of the bonds payable, using t
Creation An express trust is "created not by facts and circumstances, but by the express words of the settlor". (Fitzgerald v Stewart) It may be created in the following ways:
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$in million Pepsi Coca cola Net cash provided by operating activities $6,796 $8,186 Average current liability 8,772 13,355 Average total liability 22,909 21,491
The business is considering two proposals for their promotions of the professional courses.Proposal one could give a stable return throughout the period. Proposal Two would give hi
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