Calculate austin agi and taxable income

Assignment Help Managerial Economics
Reference no: EM13974393

Austin, a single individual with a salary of $100,000, incurred and paid the following expenses during the year:

Medical expenses ...................$5,000
Alimony ......................$24,000
Charitable contributions ...............$2,000
Casualty loss on business property ............$8,000
Casualty loss on rental property ..............$5,000
Personal casualty gains ................$3,000
Personal casualty losses (after $100 floor) ........$12,000
Non business bad debt .................$6,000
Mortgage interest on personal residence .........$4,500
Property taxes on personal residence ...........$4,200
Moving expenses ...................$2,500
Contribution to a traditional IRA ............$4,000
State income taxes .................$1,300
Unreimbursed employee expenses ............$2,500
Investment income .................$6,000
Investment expenses .................$8,000

Calculate Austin's AGI and taxable income.

Reference no: EM13974393

Questions Cloud

Define periodization and its components : Define periodization and its components. Provide a brief explanation for how periodization could benefit each of the following clients specifically: College soccer player, 35 year old sedentary adult wanting to "tone", long distance runner. Is per..
Conduct attacks in countries all over the world. : The question for discussion this week is simple: is U.S. policy employing the use of UAVs to conduct lethal strikes legal under international and domestic law, and is it effective?
Types of conclusions in a speech : What items should you take in consideration when selecting a speech? Why is organizational of the speech important for both the speaker and the audience? List and describe different types of conclusions in a speech?
Discuss their views on the proper roles of the state : Do you think the philosophers would agree with the current structure of the American government? Why or why not?
Calculate austin agi and taxable income : Calculate Austin's AGI and taxable income.
Who has more power in collective : Q1: Who has more power in collective? Bargaining: Administration or the Faculty/Staff Union Q2: What is the Basis for the Greater Power? Why is one party more powerful than the other?
Identify a name for a fictitious business : Identify a name for a fictitious business with a minimum of 75 employees. Consider the geographic location, departments, organizational structure, facilities, etc. Next, complete the three broad tasks as they relate to your company.
Development of project in mid semester : The supervisors will have to update the College about the development of the project in the mid semester (i.e. 15 March 2016) on a prescribed proforma (will be sent to all the supervisors).
Determine the stress in each segment : The composite steel and brass rod shown is attached to unyielding supports with no initial stress at 25°C. Determine the stress in each segment when the temperature is reduced to -5°C

Reviews

Write a Review

Managerial Economics Questions & Answers

  Principal forces acting upon the supply and demand

Analyze the principal forces acting upon the supply and demand the company is experiencing, using any financial information you feel is relevant.

  The state of glottamora has $100 million remaining in its

The state of Glottamora has $100 million remaining in its budget for the current year. One alternative is to give Glottamorans a one-time tax rebate. Alternatively, two proposals have been made for state expenditures of these funds.

  Calculate the arc cross elasticity of demand for insulation

Calculate the arc cross elasticity of demand for insulation as the price of fuel oil rises from 50 to 70 cents. Are fuel oil and insulation substitutes or complements? Explain.

  Does mean that the accounting firms are not doing a good job

Does this mean that the accounting firms are not doing a good enough job in auditing? Explain.

  Applied to the behaviour of oligopolists

1.What is meant by the prisoners dilemma game when applied to the behaviour of oligopolists? What will determine the outcome of the game?

  What type of agency problem is involved here

Why would a chain such as Marriott tend to own its hotels in resort areas, such as national parks, where there is little repeat business, and franchise in downtown areas, where there is a lot of repeat business?

  Finding the price of the stock

Firm A is paying a current dividend of $2.09 per share, with a 4 percent growth expectation into the future. The three month T-Bill, a risk-free asset, has an yearly yield of 3.5%,

  The exchange rate diverge from the purchasing-power parity

For what reasons might the exchange rate diverge from the purchasing-power parity rate over the longer term?

  Calculate the expected portfolio return

Assume a risk-free asset has a 5% return and a second asset has an expected return of 13% with a standard deviation of 23 percent.

  Is it a valid criticism of perfect competition

1.Is it a valid criticism of perfect competition to argue that it is incompatible with economies of scale .

  If an industry regulator adopts an rpi x formula for price

1.If an industry regulator adopts an RPI  X formula for price regulation, is it desirable that the value of X should be adjusted as soon as cost conditions change?

  Threatening market share

Recent entry of private label brand competition is threatening market share and changing long-term relationships between these major brands.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd