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David builds and maintains web applications for a number of clients. He does a majority of his work from his home office, but he frequently drives to the client site to meet with h
Donald, a 40-year-old married taxpayer, has a salary of $55,000 and interest income of $6,000. What is the maximum amount Donald can contribute to a Roth IRA?
Joe Smyth further advises you on the following transaction - work out the resultant capital gains tax consequences. Then calculate Joe's net capital gain for the 2010/11 income
An unsecured short-term loan, generally issued to finance short-term liabilities, which gives the debt holders (bondholders) some level of tax choice on the earnings from their deb
The will of B Dark, who died on 31 March of the previous income year, provides that after payments of debts and legacies the residue of the estate is to be held in trust and the in
The Diamond Glitter Company is in the process of preparing its financial statements for 2012. Assume that no entries for depreciation have been recorded in 2012. The following info
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A company issues 15-year, $1,000 par-value bonds, with a coupon rate of 5%. The bonds are sold for $619.70. The tax rate is 30%. Compute the cost of debt before taxes and after tax
Mr and Mrs Adams and Mr Adam's mother, Louise, bought an investment property equally as joint owners in 1979 for $30000. Mr Adams died in 2005. Louise died in 2006. The property wa
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