What do deductions reduce?

Answers

Answer 1

Tax deductions reduce the tax liability of taxpayer.

By reducing their taxable income, tax deductions let people pay less in taxes. A deduction reduces your taxable income, which lowers the amount of tax you owe, but only indirectly and not by cutting your tax. Depending on your tax rate, a tax deduction has different benefits.

You are permitted by federal tax law to deduct a variety of personal costs from your taxable income each year. Due to the decrease in taxable income, which lowers the amount of income subject to federal income tax, this can truly pay off during tax season.

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Related Questions

intellectual property violations, component theft, counterfeiting, and identity theft are examples of which type of computer crime?

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Intellectual property violations, component theft, counterfeiting, and identity theft are examples of crimes brought on by the prevalent use of computers.

What are intellectual property violations?

A third party would be infringing someone else's copyright if they took possession of, copied, or sold their previously plagiarised work. Even if someone only modifies the original source material, copyright laws can still be applied. Infringement is the term used to describe when someone violates or steals intellectual property, such as a brand or a patent. If a trade secret is stolen or violated, it is referred to as misappropriation, and depending on the specifics, it may or may not be a criminal offence.

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Investor relations departments should give way tostakeholder relations departments. CSR departments. internal ombudsmen. public relations departments that can manage the message.

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Investor relations departments should give co-operate social responsibility way tostakeholder relations departments. CSR departments. The traditional view that served as the foundation for the economic model. The correct answer is A. Investor relations.

Corporate social responsibility (CSR) holds the view that businesses exist only for profits as they respond to market demand in the production of goods and services, contrary to the sustainability version of CSR.

Which contends that the long-term financial well-being of every firm is directly related to questions of how the firm both affects and is affected by the natural environment. The corporate social responsibility (CSR) economic model recommends that organisations integrate their social and financial goals. Corporate social responsibility (CSR), a kind of worldwide private business self-regulation, strives to support charitable, activist, or philanthropic social goals by engaging in or encouraging volunteer work or other morally righteous behaviours. Corporate social responsibility.

Complete question:

Investor relations departments should give way tostakeholder relations departments. CSR departments. internal ombudsmen. public relations departments that can manage the message.

A. Investor relations.

B. Research and development.

C. Legal.

D. Production.

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the game. The most diversified portfolio would include all of these various options. On average, should this diversified portfolio have the highest return? Why or why not

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A diversified portfolio, which comprises a number of asset types such as equities, bonds, real estate, and commodities, may assist in lowering overall investment risk while simultaneously increasing profits.

What is a diversified portfolio?

Generally, A diversified portfolio, which includes a variety of asset classes such as stocks, bonds, real estate, and commodities, can help to reduce risk and increase returns.

The idea behind diversification is that different asset classes perform differently in various market conditions, so by spreading investments across different asset classes, the overall portfolio can be less affected by any one market downturn.

However, it does not necessarily mean that a diversified portfolio will always have the highest return. It depends on the current market conditions, economic outlook and the skill of the portfolio manager.

It is important to keep in mind that diversification does not guarantee a profit or protect against loss.

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Find the maximum profit and the number of units that must be produced and sold in order to yield the maximum profit. Assume that revenue, R(x), and cost, C(x), are in thousands of dollars, and x is in thousands of units. R(x) = 9x – 2x², C(x) = x2 – 5x² + 4x + 1 The production level for the maximum profit is about units. (Do not round until the final answer. Then round to the whole number as needed.)

Answers

To find the maximum profit and the corresponding production level, we need to determine the quantity that maximizes the difference between revenue and cost. The profit function, P(x), can be expressed as P(x) = R(x) - C(x).

Given that R(x) = 9x - 2x^2 and C(x) = x^2 - 5x^2 + 4x + 1, we can substitute these equations into the profit functionTo find the maximum profit, we need to find the vertex of the quadratic function. The x-value of the vertex can be determined using the formula x = -b / (2a), where a = 4 and b = 5.Now, substituting this x-value back into the profit function, we can find the maximum profit:Performing the calculations, we can find the maximum profit.The production level for the maximum profit corresponds to the x-value of the vertex, which is approximately -5/8 (or 0.625 when rounded to the nearest thousand units). Therefore, the production level for the maximum profit is about 625 units.

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What is one thing that you wanted to achieve me to graduate college will complete your other post secondary training and education

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It is basically to obtain a degree or complete a specialized training in a field of interest in order to add value to my desired goals.

What is the objective of graduating from college?

The primary goal of graduating from college or completing post-secondary training is to acquire the knowledge, skills, and qualifications necessary for your desired career path. By obtaining a degree or relevant certifications, one can enhance one's job prospects, increase one's earning potential, and gain a deeper understanding of one's chosen field.

Additionally, post-secondary education often provides opportunities for personal growth, networking, and building a foundation for lifelong learning. It can broaden one's horizons, expose one to new ideas, and help one develop critical thinking, problem-solving, and communication skills.

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1/ A buyer has determined the desired level of stock per month is $12,800. She plans to have sales of $5,600 for that month. What would her basic stock requirements be for the month?
2/ A buyer has planned purchases (or desired inventory) of $241,571. She has already ordered $46,798. She has received $87,623 worth of merchandise. What is her current open to buy?
3/
A store had average markdowns last year of 21%. The projected sales are $230,000. Assuming she is calculating based on a seven-month season, what are her planned markdowns?
Enter 907.042

Answers

based on the given information, the buyer's basic stock requirements for the month would be $7,200.

1/ The buyer's basic stock requirements for the month can be calculated by subtracting the planned sales from the desired level of stock. Therefore, the basic stock requirements would be $12,800 - $5,600 = $7,200.

2/ To determine the buyer's current open-to-buy, we need to subtract the ordered merchandise and received merchandise from the planned purchases (or desired inventory). The calculation is as follows:

Current open to buy = Planned purchases - Ordered merchandise - Received merchandise

                   = $241,571 - $46,798 - $87,623

                   = $107,150

Therefore, the buyer's current open-to-buy is $107,150.

3/ To calculate the planned markdowns, we need to multiply the average markdown percentage (21%) by the projected sales ($230,000). Since the calculation is based on a seven-month season, the formula becomes:

Planned markdowns = Average markdowns percentage * Projected sales * Season duration

                 = 0.21 * $230,000 * 7

                 = $907,042

Therefore, the planned markdowns amount to $907,042.

based on the given information, the buyer's basic stock requirements for the month would be $7,200. Her current open-to-buy is $107,150. Additionally, the planned markdowns amount to $907,042 for the seven-month season.

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Identify each statement as either true or false. In the United States, banks keep the entire value of all customer deposits in the bank vault to meet customer withdrawals. Banks typically loan out a portion of customer deposits. Bank runs occur when many customers attempt to withdraw deposits from a bank at the same time and the bank is unable to pay all customer withdrawals. The Federal Deposit Insurance Corporation (FDIC) protects bank depositors from bank failure. The fractional reserve banking system requires all banks to keep the total value of customer deposits in their vaults to prevent bank runs.

Answers

Answer:

false

true

true

true

false

Explanation:

Fractional banking is a banking system where a portion of customer's deposits is kept as reserves while remaining portion is lent out. The amount kept as reserves is determined by the required reserve ratio set by the Central bank.

If the required reserve ratio is 10% and $100 is deposited, reserves would be $10 and $90 would be lent out

Fractional banking is practiced in the US

Bank run is when depositors withdraw their monies from the bank due to fear of the bank failing.

The Federal Deposit  Insurance Corporation (FDIC) was established after the great depression. Bank run was attributed to be one of the causes of the great depression. The FDIC increases confidence of depositors in banks because they insure the deposit of bank customers. In the case a bank fails, customers are assured that they would not lose their monies deposited

andy plays the violin well ........ the trumpet is his favorite instrument​

Answers

Andy plays the violin well, but the trumpet is his favorite instrument.
Andy plays the violin well but the trumpet is his favorite instrument.

The price of ______ goods is a determinant of demand.

Answers

Generally, the price of other goods is an important determinant of demand for a product.

What are the determinants of demand?

The determining factor for demand level of a product includes changes in income, prices of related goods, consumer expectations, consumer tastes etc.

Therefore, the price of other goods is an important determinant of demand for a product.

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An advertisement for marketing timeshares, which includes a free gift or prize, must clearly disclose all of the following except:
• retail value of gift
• expiration of offer
• odds of winning a prize
• date and where the gift or prize can be claimed

Answers

Marketing timeshares create an advertisement, which includes a free gift or prize, must clearly disclose all of the following except the odds of winning a prize.

Marketing Timeshare is the act of using marketing strategies and promotional techniques to promote timeshare products. Timeshare promotion is essential in developing an appealing and persuasive presentation to potential clients An advertisement is a communication method that is meant to convey a message to an audience in order to encourage or persuade them to take a particular action. Advertising is a means of informing and educating the general public about a product or service. The advertisement must be presented in a way that the audience is not misled, and all relevant information must be disclosed.

Thus, an advertisement for marketing timeshares, which includes a free gift or prize, must clearly disclose the retail value of the gift, the expiration of the offer, and the date and where the gift or prize can be claimed. It is not necessary to disclose the odds of winning a prize.

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what are the disadvantage of credit card ​

Answers

Answer: you don’t see your own money.

Explanation:

Have to pay back high interest rates depending on what bank you’re with. Easy to spend money you don’t have!


Select the scenario that best demonstrates the entrepreneurial mindset of taking initiative and
being self-reliant

A. Jon starts a café in his town. He observes that due to a drop in the economy, his café is not doing as well as expected. He hopes his business will pick up again once the economy is strong again.
B. Linda is developing a music app. However, she gets stuck many times while
writing the code. She considers giving up on her app and working under an
experienced person to develop apps.
C. Samantha works as a nail artist. To keep up with the competition and customer
demands, she expands her skill set with new techniques and designs in the market.
D. Steve works as a pizza delivery boy, but wants to start his own pizza parlor. It
will be difficult to make time to implement his business plan, so he is going to wait
for a better time to start his business.

Answers

Answer:

c.Samantha works as a nail artist. To keep up with the competition and customer

demands, she expands her skill set with new techniques and designs in the market.

Explanation:

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A direct marketing channel is a distribution method in which there is no __________.

Answers

Answer:

The answer is intermediary

Explanation:

A direct marketing channel is a distribution method in which there is no intermediary.

Kiara has taken classes on running spreadsheets and accounting software. She is a great organizer and has excellent people skills. What company might be interested in hiring Kiara?

A.
a radio station in need of a systems analyst

B.
an architectural firm looking for an office manager

C.
a large car manufacturer in need of a corporate trainer

D.
an investment firm looking for a president

Answers

Answer:

A

Explanation:

Speadsheet is the keyword.

Kiara has attended classes on spreadsheets and accounting software. She is a fantastic organizer with amazing people skills. an investment firm needed a president. Thus, option (d) is correct.

What is software?

Software is the term for the intangible. The software is the most important aspect. Software is a collection of rules, data, or algorithms used to run machines and perform certain tasks. Apps, scripts, and programs that run on a mobile device are referred to as software.

Kiara are allocated to sheet and accountancy software categories based on their ability. are built on a superb planner and have incredible people abilities An investor group was looking for an exceptional accounting software handler.

As a result, the investment firm looking for a president. Therefore, option (d) is correct.

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which manager designs the product in a business​

Answers

It is a product design manager

Answer:

Product Design Management (PDM)

Explanation:

Product Design Management (PDM) is one of the most important elements in the successful business of designing innovative products for production.

Sales of ___________ do not represent new production, just the reallocation of past production that was already counted as part of gdp in another year.

Answers

Sales of used goods do not represent new production, just the reallocation of past production that was already counted as part of GDP in another year. This is because GDP, or Gross Domestic Product, measures the total value of goods and services produced within a country's borders during a specific time period.


When a good is initially produced and sold, it contributes to GDP as it represents new production. However, if the same good is sold again in a subsequent year, it does not contribute to GDP as it is considered a transfer of ownership rather than new production. In other words, the sale of used goods does not create additional value or increase the total output of an economy.

For example, let's consider a car that was manufactured and sold in the year 2019. The sale of this car in 2019 would have contributed to GDP as it represented new production. However, if the same car is sold again in 2021, it would not be counted in GDP as it is just the reallocation of a previously produced good.

It is important to note that while the sale of used goods does not directly impact GDP, it can indirectly affect economic activity. For instance, the sale of used cars can affect the demand for new cars, which in turn affects the production and sale of new cars, ultimately impacting GDP.

In summary, the sales of used goods do not represent new production and are not included in GDP. GDP only measures the value of goods and services produced within a country during a specific time period.

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Which management function is also a financial responsibility? A. planning B. organizing C. staffing D. coordinating E. controlling

Answers

Answer:

b staffing is the answer

Answer:

....... C. Staffing

Explanation:

Click the picture to see the whole answer...the answer is Staffing

Which management function is also a financial responsibility? A. planning B. organizing C. staffing D.

Stanford enterprises has provided its manufacturing estimated and actual data for the year end. the controller has asked you to compute the predetermined overhead rate, the schedule of cost of goods manufactured, and the schedule of cost of goods sold. use the information included in the excel simulation and the excel functions described below to complete the task.

Answers

Answer:

Predetermined Overhead Rate = $11 per labor hour

Explanation:

The predetermined Overhead rate for Stanford Enterprise is calculated by dividing the estimated manufacturing overheads with estimated total direct labor hours.

Actual manufacturing overhead = $302,750

Actual direct labor hours = 27,760 hours

Estimated/ budgeted labor hours = 25,000 hours

budgeted manufacturing overheads = $275,000

Predetermined OH rate = $275,000 / 25,000 = $11 per hour

Actual OH rate = $302,750 / 27,760 hours = $10.91 per hour

With online bill pay, what is the difference between a one-time payment and a recurring payment?

Answers

Answer:

when you do a one time payment you only pay once. When you set up a reaccuring payment you will pay mulitpul times.

Explanation:

What are the conditions that would support a strong matrix organization for project management? when is a dedicated team preferred?

Answers

In strong matrix organizations, the project manager has authority and a full-time role. A full-time project management team will report to and control the budget. This structure has the characteristics of an intended organization.

A matrix organization is a combination of two or more different types of organizational structures, such as project management or functional management. Furthermore, the matrix structure includes both traditional management hierarchies, where employees are managed by a functional manager, as well as additional project managers who can manage employees, in different parts. These two or more management systems intersect on a grid or matrix.

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Do you think NAFTA should adopt a common currency? Why or why not?

Answers

Answer:

Explanation:

I don't have a personal opinion, but I can provide some information that may be helpful in answering your question.

The North American Free Trade Agreement (NAFTA) is a trade agreement between the United States, Canada, and Mexico that was signed in 1994. While NAFTA has helped to increase trade between the three countries, it does not include provisions for a common currency.

There are arguments for and against the adoption of a common currency among the NAFTA countries. Proponents argue that a common currency could help to facilitate trade and investment between the three countries, reduce transaction costs, and increase economic integration. It could also help to stabilize exchange rates and reduce the risk of currency fluctuations.

Opponents, on the other hand, argue that adopting a common currency would be difficult due to the economic and political differences between the three countries. It could also lead to a loss of economic sovereignty for each country, as well as potential inflationary pressures.

Ultimately, the decision to adopt a common currency would be a political one that would require the agreement of all three countries. While there are potential benefits to a common currency, there are also potential drawbacks that would need to be carefully considered.

similarities between single column cash book and double column cash book

Answers

Answer:

Both single column cash book and double column cash book are similar because they both record cash payments

Explanation:

A cash book is a book or journal used to record all business transactions within a particular period like receipts, disbursements, bank deposits and bank withdrawals. They are different cash books namely: single column cash book, double column cash book and triple column cash book.

A single column cash book is used to record payments in form of cash while a double column cash book records both cash payments as well as bank transactions.

Both single column cash book and double column cash book are similar because they both record cash payments

begin your résumé by placing the word résumé at the top to identify the purpose of your document. TRUE/FALSE

Answers

The statement "Begin your résumé by placing the word résumé at the top to identify the purpose of your document" is FALSE.

A résumé is a professional document used to showcase an individual's skills, qualifications, and experiences to potential employers. The purpose of a résumé is generally understood without the need to include the word "résumé" at the top.

Instead, it is more appropriate to start your résumé with your name and contact information, followed by a professional summary or objective statement.

A professional summary briefly highlights your most relevant skills and experiences, while an objective statement describes your career goals and the type of position you are seeking. This information provides a clear and concise introduction to your résumé, making it easy for employers to understand your qualifications and goals.

Including the word "résumé" at the top of your document is redundant and unnecessary, as employers already expect the document to be a résumé.

In summary, do not include the word "résumé" at the top of your document. Instead, focus on providing a strong introduction that highlights your professional qualifications and goals. This will create a more effective and appealing résumé for potential employers.

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Accounting information systems: Multiple Choice require a CITP designation to understand. report only financially related information. are always computerized. are an information system that records, processes, and reports on transactions to provide financial and nonfinancial information for decision making and control.

Answers

Answer: Are an information system that records, processes, and reports on transactions to provide financial and nonfinancial information for decision making and control.

Explanation:

Accounting information systems are very useful because they combine accounting records with processes thereby coming up with reports on transactions that provide relevant stakeholders with both financial and non-financial information needed for decision making and control.

Accounting systems do not require a Certified International Trade Professional (CITP) designation to understand neither does it report only financially related information nor is it always computerized.


A person who is involved in the process of creating and managing a business to achieve his or her desired objectives is engaged in

Answers

Answer:

entrepreneur

Explanation:

An entrepreneur is an individual who initiates the process of creating and managing a business entity with profit motives. They start with developing a business idea and transform it into a successful venture. Entrepreneurs assume the risks associated with starting a new business. They risk their capital, time, and energy with the expectation to make profits.

Entrepreneurs are creative and innovative people. They spot business opportunities where others don't.  Entrepreneurs develop products and services that address the community's needs.

In tax year 2020, a married taxpayer with AGI of $300,000 had gross investment income of $6,150 (which included a long-term capital gain of $3,500 and interest income of $2,650), brokerage commissions of $75, and tax preparation fees of $210. Calculate the amount of net investment income tax the taxpayer is required to pay

Answers

The amount of net investment income tax that the taxpayer is required to pay is $231.

What is net investment income tax?

Net Investment Income Tax are generally imposed by the Internal Revenue on entities' net investment income.

Net investment income tax = ($6,150 - $75) * 3.8%

Net investment income tax = $6,050 * 3.8%

Net investment income tax = $231

In conclusion, the amount of net investment income tax that the taxpayer is required to pay is $231.

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Suppose that in a particular market, the supply curve is highly elastic and the demand curve is highly inelastic. If a tax is imposed in this market, then the.

Answers

the buyers will bear a greater burden of the tax then the sellers.

Which type of checking account pays interest on the mean balance of the
account during a particular cycle?
A. Average balance account
B. Cost-per-check account
C. Minimum balance account
D. Free account

Answers

Answer:

A. Average Balance Account

Explanation:

Average balance account is a type of checking account that pays interest on the mean balance of the account during a particular cycle. Thus, option A is the correct option.

What Is a Checking Account?

An account with a financial institution called a checking permits both deposits and withdrawals. Checking accounts, also known as demand accounts or transactional accounts, are relatively liquid and may be accessed in a variety of ways, including through cheques, automated teller machines (ATMs), and electronic debits.

A checking account varies from other bank accounts in that it frequently permits unrestricted withdrawals and deposits, although savings accounts may occasionally place restrictions on both. Anybody who frequently wishes to make withdrawals or transactions from a bank account can benefit from having a checking account. A checking account can usually be opened relatively quickly and easily. You can apply online or in person at a bank office.

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If the value of the goods and services a country produces stays the same
while its population increases, which statement must be true?
O A. The country's unemployment rate has decreased.
O B. The country's total GDP has increased.
O C. The country's per capita GDP has decreased.
O D. The country's rate of inflation has increased.
SUBMIT

Answers

Answer:

C

Explanation:

If the value of the goods and services a country produces stays the same while its population increases The country's per capita GDP has decreased. Thus the correct option is C.

What is a service?

Services are referred to as a type of goods that is offered to someone in terms of facilities like the one received in a restaurant or shopping mall. It is a type of commodity or product that is intangible in nature, one can only feel it.

Final or finished goods are products that are sold in the market to satisfy buyers. This item can be both a good and a service, with a good being something tangible and a service being something intangible.

The output from production and sales within the nation is used to calculate GDP. When computing GDP, exports are added because they represent money entering the market, and imports are deducted because they represent money leaving the market.

Therefore, option C is appropriate.

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T/F. due to globalization the supply for talented employees now exceeds the demand

Answers

False. Globalization has created a highly competitive environment for talent, where the demand for skilled employees tends to outpace the available supply.

Due to globalization, the demand for talented employees often exceeds the supply. Globalization has opened up new markets and opportunities for businesses, resulting in increased competition and the need for skilled and talented workers to drive growth and innovation. It allows companies to access talent pools from around the world, expanding the potential labor market beyond local boundaries. However, this also means that companies are competing on a global scale to attract and retain the best talent. The demand for highly skilled professionals, particularly in specialized fields, often exceeds the available supply. As companies expand their operations internationally, they face challenges in finding qualified employees who possess the necessary expertise, cultural understanding, and language skills to operate in different markets. This has led to increased competition among companies to recruit and retain top talent, offering attractive compensation packages, professional development opportunities, and other incentives.

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One victory after another!I shout out!! I'm always victorious!! Total victory!!Power! Get the power! Right up to the limitHERO, I don't want voices praising me or an ovationHERO, so I fight against evil in secret(Nobody knows who he is.)Foes are closing in and covering the sky. I won't turn my back on themIf I am a HERO, then I'm prepared with unwavering resolve, unleashing my fist(Three! Two! One! Fight back!)Appearing! Go on! Fair and square!!What's going on? I can't feel a thing, my opponents are all gone!JUSTICE! Enforcement! No point arguing about it!I'll cut it off!! Cut off evil!! Hands together in prayer!!Power! Get the power! ADRENALINE's overflowin'!Power! Get the power! Strike with force with my disciplined technique!HERO, even the strongest guys used to be tiny bratsHERO, I overcome my weaknesses and become stronger(Nobody knows who he is.)I just raise my fists, with the gods dwelling in them, and push onwardHERO, until I taste the dirt of defeat some day, a fighting HEROI won't give up; I picture the future in my heartI awaken and go to the world now, soaring high and strongAt all times, no matter what happensHERO, I don't want voices praising me or an ovationHERO, so I fight against evil in secret(Nobody knows who he is.)I just raise my fists, with the gods dwelling in them, and push onwardHERO, until I taste the dirt of defeat some day, a fighting HEROA lonely HEROI wanna be the strongest HERO!