Hannah is single with no dependents and has a salary of $102,000 for 2018, along with tax exempt interest income of $3,000 from a municipality. Her itemized deductions total $12,600.Required: Compute her taxable income.

What will be an ideal response?


Salary$102,000 
(Interest income is excluded)
 Less:
Itemized deductions( 12,600)
Taxable income$ 89,400 

Business

You might also like to view...

Which of the following is false regarding how a differentiation strategy can help a firm to improve its competitive position vis-à-vis Porter's five forces?

A. Supplier power is increased because suppliers will be able to charge higher prices for their inputs. B. Firms will enjoy high customer loyalty, thus experiencing less threat from substitutes than its competitors. C. It helps a firm to deal with supplier power and reduces buyer power since buyers lack comparable alternatives. D. By increasing a firm's margins, it avoids the need for a low-cost position.

Business

Describe the VALS framework.

What will be an ideal response?

Business

In deciding the precedent-setting corporate political speech case First National Bank of Boston v. Bellotti, the Supreme Court ruled which one of the following?

A. That corporations are too powerful to be allowed to participate in politics B. That the voice of corporations has been overwhelming in politics C. That "political speech" is protected, regardless of who is speaking D. That the First Amendment applies only to individuals, not to corporations E. That corporations undermine citizens' confidence in government

Business

Enlist the organs of the United Nations

What will be an ideal response?

Business