Do think that the standard deduction is well enough

Assignment Help Financial Accounting
Reference no: EM132903058

Many different taxpayers praise the new change in the Tax Cuts and Jobs Act 2017 tax code with the deduction, knowing that they no longer need to focus on itemizing and scrambling for expenses to deduct on their taxes. However, others have complained that their personalized exemptions such as charitable contributions and state and local taxes have either little or no effect anymore.

Problem 1: Do you think that there should be a return of itemized deductions? Or do you think that the standard deduction is well enough that personal exemptions are no longer necessary, and we'll eventually adapt to the change in the tax code as a society?

Reference no: EM132903058

Questions Cloud

Security of information in organization : Who is ultimately responsible for the security of information in an organization? What do VPNs do that firewalls cannot do?
What is an internal control walkthrough : Explain the difference in the purposes of these two types of separation of duties. The separation of operational responsibility from record keeping is meant.
What is the control environment : What is the control environment? What is the relationship between the control environment and the other four components of internal control?
Business is poker game and we are all bluffing : Discuss why Goldman Sachs was a disciple of Albert Carr's theory of "business is a poker game and we are all bluffing."
Do think that the standard deduction is well enough : Do you think that the standard deduction is well enough that personal exemptions are no longer necessary, and we'll eventually adapt to the change
What is dyer current stock price : The company's beta is 1.80, the market risk premium is 5.50%, and the risk-free rate is 4.00%. What is Dyer's current stock price?
Why waste time with a detailed ratio review : Is it prudent to buy or sell a share of stock in a company like Walmart using only the results of two or three ratio calculations? Why waste time with detailed?
Calculate the firms sustainable growth rate : Hatter Enterprises has a return on sales of 15%, If the company is projecting a dividend payout ratio of 40%, calculate the firms' sustainable growth rate.
Divisional structure and functional structure : Pick one of the following terms for research: collaboration, divisional structure, functional structure, horizontal structure, matrix structure,

Reviews

Write a Review

Financial Accounting Questions & Answers

  Which atios measure the overall efficiency of the firm

Which ratio or ratios measure(s) the overall efficiency of the firm in managing its investment in assets and in generating return to shareholders?

  Red rock mines and distributes various types of rocks

Red Rock, Inc. mines and distributes various types of rocks. Most of the company's rock is sold to contractors who use the product in highway construction projects. Aracely Hudson, company president, believes that the company needs to advertise to in..

  What means a dollar today worth more than dollar tomorrow

What means "a dollar today is worth more than a dollar tomorrow" and what or what are the differences between simple interest and compound interest?

  What percentage of ABCs total variance is due

The standard deviation of ABC's residual error terms is 48%. What percentage of ABC's total variance is due to systematic risk

  What is return on common shareholders equity for notebook

Notebook Inc. Statement of Financial Position (partial),Assuming no dividends were paid in 2018, what is the return on common shareholders' equity for Notebook?

  What was the book value of summit at acquisition

Corporation acquired 80% of Summit Company's common stock for $160,000. Total differential was $75,000. What was the book value of Summit at acquisition?

  What is the effect of the stock split

Sabie Inc has 100,000 authorize,It has decided to declare a 2-for-1 stock split when the average cost per share is $10. What is the effect of this stock split?

  How the consolidated entity could reduce overall tax burden

How the consolidated entity could reduce its overall tax burden by changing the transfer price markup between the New Zealand parent and subsidiary in France?

  Enter transactions in journal and post

Cash received from Shakeel Rs. 4,900 in full settlement. Enter transactions in journal and post them into the ledger and then post them into Trail Balance.

  What will the portfolio new beta be after the transaction

What will the portfolio's new beta be after these transactions? Portfolio Beta You have a $4 million portfolio consisting of a $100,000 investment

  Prepare a forecast statement of cash flows

Prepare a forecast statement of cash flows for the six months to 31 March 2012 and an income statement for the six months ended on that date

  Overhead to production at a predetermined rate

Simmons Inc. applies overhead to production at a predetermined rate of 90% based on direct labor cost. Job No. 250, the only job still in process at the end of August, has been charged with manufacturing overhead of $7,200. What was the amount of dir..

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