Entries by Munene david

1. Belding Corporation received permission to change its tax years-end

1. Belding Corporation received permission to change its tax years-end from December 31 to August 31 in 2017. Its income from January 1 through August 31 is $278,000. What is Belding’s tax liability? a. $141,780 b. $91,670 c. $94,520 d. $108,420   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code […]

 

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1.      What are Kris’s deductible moving expenses for 2017 if he spends

1.      What are Kris’s deductible moving expenses for 2017 if he spends $4,000 for packing and moving household goods, $1,200 to break the lease on his apartment, and $1,500 to store the household goods for 45 days? In April he drove his car 1,400 miles to his new home and spent $250 for motels and $80 […]

 

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1.      Fred, age 44, wants to contribute the maximum allowed

1.      Fred, age 44, wants to contribute the maximum allowed to a Roth IRA in 2017. He is single and his AGI is $121,000. How much can he contribute to the Roth IRA? a. $3,300 b. $4,400 c. $5,500 d. $6,500   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code […]

 

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1.      In April 2017, Ginny was assigned to a job in the next county

1.      In April 2017, Ginny was assigned to a job in the next county for the day. She drove 75 miles each way to the job, paid $4 in tolls, $7 for parking and $9 for lunch. What is her allowable business expense deduction? a.$100.25 b. $91.25 c. $84.25 d. $80.25   Looking for a Similar […]

 

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