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On May 19, 2010, Kim placed in service a LIGHT VAN that cost $54,850. It is used 80% for business each year. What is the maximum cost recovery deduction available for the van in 2011 (year 2)? Kim has taxable income of $875,000 before the cost recovery deductions are deducted.
Howard has W2 wages of $1,275,000 and has generated income and losses from gambling as follows:
Year Income Losses
2009 45,000 150,000
2010 137,000 128,000
How much of the gambling losses (after all limitations) can be deducted in 2010?
For AGI________ From AGI_________ Carryover_________
what is the implication of applying accounting concepts wrongly
Tony is a salesperson at a local auto showroom. He asks you to assist him in developing a tool for calculating purchase and lease payments. He has already developed a draft of the
Q. What do you mean by Grant date in Stock Option? Grant date - The date at which an employee and an employer reach a mutual understanding of key terms and conditions of a shar
Illustration-statement of Changes in Net Assets-pension fund (a) What meetings of creditors must be held and for what purpose in the course of a creditors’ voluntary winding up
Q : The Trial Balance of Dephane Main Fashion Center contained the following accounts at November, 30 the end of the company fiscal year. Dephane Main Fashion Center Trial Balanc
THE TRUSTEE IN BANKRUPTCY 1) Appointment of trustee The trustee is appointed: By the creditors by ordinary resolution, or By the committee of inspection, if so
#questiondd
Cleary, Wasser, and Nolan formed a partnership on January 1, 2010, with investments of $100,000, $150,000, and $200,000, respectively. For division of income, they agreed to (1) in
Permanent accounts would not include a interest expense b wage payable c prepaid rent d unearned revenues
what are the advantage and disadvantage to mr fish, mr Lobster of forming a partnership rather than a close corporation or a company?
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